Document ID: chunk:federal_register_of_legislation:C2024A00110:clause:8_63a:p2
Version: federal_register_of_legislation:C2024A00110
Segment Type: clause
Provision Reference: sch 8 cl 63A (pt 2/2)
Character Range: 148727–149509

of value to another person in the value transfer chain;
 (b) a person who is specified in the AML/CTF Rules.

Value transfer chain
 (11) The following persons are taken to form a value transfer chain:
 (a) the ordering institution;
 (b) each intermediary institution (if any) between the ordering institution and the beneficiary institution;
 (c) the beneficiary institution.

Institutions
 (12) Each person in a value transfer chain is an institution.

Payer and payee may be same person etc.
 (13) For the purposes of this Act:
 (a) the payer and the payee in relation to a transfer of value may be the same person; and
 (b) the ordering institution and the beneficiary institution in relation to a transfer of value may be the same person.

Division 2—Obligations of institutions