Document ID: chunk:federal_register_of_legislation:F2024C01198:body:0:p167
Version: federal_register_of_legislation:F2024C01198
Segment Type: other
Provision Reference: 
Character Range: 463552–466385

considered appropriate.

    59.8 The AUSTRAC CEO may, in writing, inform a registered remittance affiliate of the suspension of a registered remittance network provider.

    59.9 The AUSTRAC CEO may remove the entry relating to one or more of the registrations of the person from the Remittance Sector Register, for the period that the registration is suspended.

    59.10 A reference in this Chapter to a person or any key personnel of the person who have been convicted of an offence includes a reference to a person in respect of whom an order has been made under section 19B of the Crimes Act 1914, or under a corresponding provision of a law of a State, a Territory or a foreign country, in relation to the offence.

59.11 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 body corporate's policy;

              (b) in the case of an individual, trust or partnership, is a natural person that is an employee or agent of the individual, trust or partnership with duties of such responsibility that his or her conduct may fairly be assumed to represent the policy of the individual, trust or partnership;

         (5) 'people smuggling' means conduct that amounts to:

         (a) an offence against Division 73 of the Criminal Code; or

              (b) an offence against Subdivision A, Division 12, Part 2 of the Migration Act 1958; or

              (c) an offence against a law of a foreign country or of a part of a foreign country that corresponds:

                 (i) to an offence referred to in paragraph (a) or (b); or

                 (ii) with the Protocol against the Smuggling of Migrants by Land, Sea and Air, supplementing the United Nations Convention against Transnational Organized Crime;

         (6) 'person' has the same meaning as in the AML/CTF Act;

         (7) 'serious offence' means an offence which is:

              (a) an offence against a law of the Commonwealth, or a law of a State or Territory, punishable on indictment by imprisonment for life or 2 or more years, that