Document ID: chunk:federal_register_of_legislation:F2020L01470:clause:1_2
Version: federal_register_of_legislation:F2020L01470
Segment Type: clause
Provision Reference: sch 1 cl 2
Character Range: 4026–5102

2  Application and transitional provisions
(1) Chapter 78 of the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1), as inserted by this Schedule, applies to an international funds transfer instruction sent or received on or after the commencement of this item.
(2) For the purposes of paragraph 45(3)(b) of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, a report given under subsection 45(2) of the Act by TransferWise Australia Pty Ltd ABN 38 616 463 855 (TransferWise Australia) must contain the following information on or after the commencement of this item until 1 February 2021 (transition period):
 (a) for an instruction described in item 1 of the table in section 46 of the Act— the information specified in subparagraphs 17.2(1)–(13) of the Rules;
 (b) for an instruction described in item 2 of the table in section 46 of the Act— the information specified in subparagraphs 17.3(1)–(14) of the Rules.
(3) Paragraphs 16.2 and 16.3 of the Rules do not apply to TransferWise Australia during the transition period.