Document ID: chunk:federal_register_of_legislation:F2024C01198:body:0:p119
Version: federal_register_of_legislation:F2024C01198
Segment Type: other
Provision Reference: 
Character Range: 333224–336300

created solely for the purpose of submitting electronic reports to AUSTRAC in a manner and form approved by the AUSTRAC CEO for the purposes of paragraph 244(2)(b) of the AML/CTF Act.

     29.3 In this Chapter:

          (1) 'optical surveillance device' has the same meaning as in the Surveillance Devices Act 2004.

Reporting entities should note that exemptions declared by this Chapter only affect record-keeping obligations derived from the AML/CTF Act and do not affect reporting entities' record-keeping obligations under any other legislation.

Reporting entities should note that in relation to activities they undertake to comply with the AML/CTF Act, they will have obligations under the Privacy Act 1988, including the requirement to comply with the Australian Privacy Principles, even if they would otherwise be exempt from the Privacy Act. For further information about these obligations, please go to http://www.oaic.gov.au or call 1300 363 992.

CHAPTER 30 Disclosure certificates

     30.1 These Anti-Money Laundering and Counter-Terrorism Financing Rules (Rules) are made under section 229 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) for subparagraphs 91(1)(d)(ii), 91(2)(d)(ii) and 91(3)(d)(ii) of that Act, to specify requirements for paragraphs 84(3)(b), 85(3)(b) and 86(1)(c) of that Act. To avoid doubt, disclosure certificates may be used for the purposes of subsection 36(1) of the AML/CTF Act and to the extent necessary to enable that use, these Rules are also made for paragraph 36(1)(b) of the AML/CTF Act.

     30.2 Part B of a standard, joint or special anti-money laundering and counter-terrorism financing program, may provide that a reporting entity may request that a customer of the type specified in paragraphs 30.6 to 30.12 provide a disclosure certificate, but only in the following circumstances:

         (1) the reporting entity has determined that the information cannot otherwise be reasonably obtained or verified;

         (2) the information to be provided or verified is reasonably required under the AML/CTF program applying to the reporting entity;

         (3) the reporting entity has applied the relevant procedures and requirements in its AML/CTF program, but has been unable to obtain or verify the information; and

         (4) the information is one or more of the items of information specified in paragraphs 30.6 to 30.12.

     30.3 Reporting entities may accept disclosure certificates that are certified by an appropriate officer of the customer for the purposes of paragraphs 30.6 to 30.12.

     30.4 An 'appropriate officer' in regard to the customer is determined by the reporting entity in accordance with its risk-based systems and controls.

     30.5 A reporting entity must not rely on a disclosure certificate if it knows or has reason to believe that the information contained in the certificate is incorrect or unreliable.

Domestic Companies

     30.6 For paragraph 4.3.11, a disclosure certificate for a domestic company must contain: