Document ID: chunk:federal_register_of_legislation:F2024C01198:body:0:p68
Version: federal_register_of_legislation:F2024C01198
Segment Type: other
Provision Reference: 
Character Range: 188857–191799

customer due diligence program and customer identification program.

    Verification of identity

     10.2.6 Chapter 6 is modified as follows:

         (1) the specified action in paragraph 6.1.3 must be taken:

             1.           within 14 days starting after the day on which the circumstance specified in paragraph 6.1.2 comes into existence; or

             2.           before the reporting entity commences to provide another designated service to the customer to which Part 2 of the Act applies;

         (2) the specified action in paragraph 6.2.2 must be taken:

             1.           within 14 days starting after the day on which the suspicious matter reporting obligation arose; or

             2.           before the reporting entity commences to provide another designated service to the customer to which Part 2 of the Act applies;

         (3) the specified action in paragraph 6.3.2 must be taken:

             1.           within 14 days starting after the day on which the suspicious matter reporting obligation arose; or

             2.           before the reporting entity commences to provide another designated service to the customer to which Part 2 of the Act applies;

         (4) paragraphs 6.2.3 and 6.3.3 do not apply.

    Record‑keeping

     10.2.7 Sections 106 and 107 of the Act do not apply to a designated service of a kind described in:

         (1) items 1, 2, or 6 of table 3 in subsection 6(4) of the Act; or

         (2) items 7 or 8 of table 3 in subsection 6(4) of the Act where that service involves an amount less than $10,000.
          Part 10.3 Gaming machines

     10.3.1 This Part is made for subsection 39(4) of the Act.

     10.3.2 This Part applies to designated services provided by a reporting entity by way of a gaming machine other than designated services provided at a casino.

    Customer identification

     10.3.3 Division 4 of Part 2 of the Act, subject to paragraph 10.3.5, does not apply to a designated service of a kind described in items 5 or 6 of table 3 in subsection 6(4) of the Act.

     10.3.4 Division 4 of Part 2 of the Act, subject to paragraph 10.3.5, does not apply in respect of a designated service that:

         (1) is of a kind described in items 9 or 10 of table 3 in subsection 6(4); and

         (2) involves an amount less than $10,000.

     10.3.5 An exemption does not apply if the reporting entity determines that it must obtain and verify any KYC information about a customer in accordance with its enhanced customer due diligence program and customer identification program.

CHAPTER 11 Compliance Report – reporting and lodgment periods

     11.1       These Rules are made under section 229 of the AML/CTF Act for the purposes of subsections 47(1), 47(2) and 247(4) of that Act.

Reporting and lodgment periods

     11.2 A reporting period is specified to be each successive period of