Document ID: chunk:federal_register_of_legislation:F2024C01198:body:0:p161
Version: federal_register_of_legislation:F2024C01198
Segment Type: other
Provision Reference: 
Character Range: 447697–450549

and

         (7) the consent of a person proposed to be entered on the Remittance Sector Register as a remittance affiliate of the applicant.

     Note: The above does not affect the operation of Part VIIC of the Crimes Act 1914, which means that certain convictions that are spent convictions are not required to be disclosed under these AML/CTF Rules and persons aware of such convictions must disregard them.

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 58 Matters to be considered by the AUSTRAC CEO when deciding to cancel a registration

    58.1 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 the purposes of paragraph 75G(1)(c) and subsection 75G(3) of that Act and in reliance on section 4 of the Acts Interpretation Act 1901.

    58.2 Without limiting the matters to which the AUSTRAC CEO may have regard, the AUSTRAC CEO may have regard to the matters specified in the Schedule to this Chapter when deciding if it is appropriate to cancel the registration of a person under paragraph 75G(1)(c) of the AML/CTF Act.

     Note: Section 75Q of the AML/CTF Act requires that, except in urgent cases, the AUSTRAC CEO must provide a person with the opportunity to make a submission before any decision is taken to cancel their registration.

    58.3 The AUSTRAC CEO may publish on AUSTRAC's website, or in any manner which is considered appropriate, a list of the names of persons whose registration has been cancelled and the date the cancellation took effect.

    58.4 In this Chapter:

         (1) 'beneficial owner' has the same meaning as in Chapter 1 of these AML/CTF Rules;

         (2) 'enforcement action' includes any action of a corrective or punitive nature in respect of an alleged breach of a law taken by a regulatory body of the Commonwealth or a State or Territory, or a government body;

         (3) 'fraud' means dishonestly obtaining a benefit by deception or other means;

    (4) 'key personnel' means:

              (a) in the case of a company, corporation sole or body politic, is a natural person that is;

              (i) a beneficial owner; or

                  (ii)  an officer as defined in section 9 of the Corporations Act 2001, or an employee or agent of the body corporate with duties of such responsibility that his or her conduct may fairly be assumed to represent the