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Anti‑Money Laundering and Counter‑Terrorism Financing Rules Instrument 2007 (No. 1)
made under section 229 of the
Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006

Compilation No. 76
Compilation date: 22 November 2024
                      Includes amendments: Anti-Money Laundering and Counter‑Terrorism Financing Rules Amendment (Nominee of Custodian) Instrument 2024 (F2024L01467)

Prepared by the Australian Transaction Reports and Analysis Centre (AUSTRAC)

About this compilation

This compilation

This is a compilation of the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1) that shows the text of the law as amended and in force on 22/11/2024 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents
1 Name of Instrument [see Note 1]
2 Rules
CHAPTER 1
Part 1.1 Introduction
Part 1.2 Key terms and concepts
CHAPTER 2
Part 2.1 Definition of 'designated business group'
CHAPTER 3 Correspondent Banking
Part 3.1 Entry into a correspondent banking relationship
CHAPTER 4
Part 4.1 Introduction
Part 4.2 Applicable customer identification procedure with respect to individuals
Part 4.3 Applicable customer identification procedure with respect to companies
Part 4.4 Applicable customer identification procedure with respect to trustees
Part 4.5 Applicable customer identification procedure with respect to partners
Part 4.6 Applicable customer identification procedure with respect to associations
Part 4.7 Applicable customer identification procedure with respect to registered co‑operatives
Part 4.8 Applicable customer identification procedure with respect to government bodies
Part 4.9 Verification from documentation
Part 4.10 Verification from reliable and independent electronic data
Part 4.11 Agents of customers
Part 4.12 Collection and Verification of Beneficial Owner