Document ID: chunk:federal_register_of_legislation:C2025C00044:section:74:p1
Version: federal_register_of_legislation:C2025C00044
Segment Type: section
Provision Reference: s 74 (pt 1/2)
Character Range: 234632–237495

74  Unregistered persons must not provide certain remittance services

Registrable remittance network services
 (1) A person (the first person) must not provide a registrable remittance network service to another person if:
 (a) the first person is not a registered remittance network provider; or
 (b) the first person is a registered remittance network provider, but the person to whom the service is provided is not a registered remittance affiliate of the first person.

Registrable designated remittance services—independents
 (1A) A person must not provide a registrable designated remittance service if:
 (a) the person provides the service other than as part of a remittance network operated by a registered remittance network provider; and
 (b) the person is not a registered independent remittance dealer.

Registrable designated remittance services—affiliates
 (1B) A person must not provide a registrable designated remittance service if:
 (a) the person provides the service as part of a remittance network operated by a registered remittance network provider; and
 (b) the person is not a registered remittance affiliate of the registered remittance network provider.

Breach of conditions
 (1C) A person must not breach a condition to which the registration of the person as any of the following is subject:
 (a) a remittance network provider;
 (b) an independent remittance dealer;
 (c) a remittance affiliate of a registered remittance network provider.

Offences
 (2) A person commits an offence if:
 (a) the person is subject to a requirement under subsection (1), (1A), (1B) or (1C); and
 (b) the person engages in conduct; and
 (c) the person's conduct breaches the requirement.
Penalty: Imprisonment for 2 years or 500 penalty units, or both.
 (3) Strict liability applies to paragraphs (2)(b) and (c).
Note: For strict liability, see section 6.1 of the Criminal Code.
 (4) A person commits an offence if:
 (a) the person is subject to a requirement under subsection (1), (1A), (1B) or (1C); and
 (b) the person engages in conduct; and
 (c) the person's conduct breaches the requirement; and
 (d) the AUSTRAC CEO previously:
 (i) gave the person a direction under subsection 191(2) in relation to subsection (1), (1A), (1B) or (1C) of this section; or
 (ii) accepted an undertaking given by the person under section 197 in relation to subsection (1), (1A), (1B) or (1C) of this section; and
 (e) that was the only occasion on which the AUSTRAC CEO previously gave such a direction to, or accepted such an undertaking from, the person.
Penalty: Imprisonment for 4 years or 1,000 penalty units, or both.
 (5) Strict liability applies to paragraphs (4)(b) and (c).
Note: For strict liability, see section 6.1 of the Criminal Code.
 (6) A person commits an offence if:
 (a) the person is subject to a requirement under subsection (1), (1A), (1B)