Document ID: chunk:federal_register_of_legislation:C2025C00044:section:10
Version: federal_register_of_legislation:C2025C00044
Segment Type: section
Provision Reference: s 10
Character Range: 135896–137409

10  Designated remittance arrangements etc.
 (1) A reference in this Act to a designated remittance arrangement is a reference to a remittance arrangement, where:
 (a) at least one of the persons described in the following subparagraphs is a non‑financier:
 (i) a person who accepts an instruction from the transferor entity for the transfer of money or property under the remittance arrangement;
 (ii) a person who makes money or property available, or arranges for it to be made available, to an ultimate transferee entity as a result of a transfer under the remittance arrangement; and
 (c) the remittance arrangement satisfies such other conditions (if any) as are specified in the AML/CTF Rules.

Remittance arrangement
 (2) A reference in this Act to a remittance arrangement is a reference to an arrangement that is for the transfer of money or property, and includes a reference to an arrangement that, under the regulations, is taken to be a remittance arrangement for the purposes of this Act.
Note: Transfer has an extended meaning—see section 5.

Transferor entity and ultimate transferee entity
 (3) For the purposes of the application of this Act to a remittance arrangement:
 (a) the transferor entity is the person from whom an instruction is accepted for the transfer of money or property under the arrangement; and
 (b) the ultimate transferee entity is the person to whom money or property is ultimately transferred under the arrangement.
Note: Transfer has an extended meaning—see section 5.