Structure of the business The business profile form requires you to identify the structure of your business. To assist you in determining your business structure, a brief description of each business type is provided below: Sole trader – an individual who is the sole business owner and trades in their own name or under a trading name Company – an entity incorporated under the Corporations Act 2001(Cth) or incorporated under the law of a foreign country Trust – fund or property held or administered by a trustee for the benefit of others Partnership – a relationship between two or more persons carrying on a business in common with a view to profit Unincorporated association – a group of people acting together without view to profit (for example, a sporting club) Corporation sole – corporation consisting of one natural person holding a particular office and his/her successors to that office (for example, the Archbishop of Sydney) Body politic – a government of the Commonwealth, a State or Territory, or an unincorporated agency that forms part of such a government, or government body incorporated under the law of a Commonwealth, State or Territory for a public purpose. Other Co-operative – an organisation owned, controlled and used by its members and incorporated under the relevant state or territory Act such as the Co-operatives Act 1992 (NSW) Incorporated association – a corporate body that is registered with or under the relevant State or Territory Act Superannuation fund – a fund that is a provident, benefit, superannuation or retirement fund or public sector superannuation fund Joint venture – an association of persons for particular trading, mining or other financial activities with a view to mutual profit. Syndicate – a group of persons working together for a common purpose.
Issuing chequebooks or debit cards Item 14 – providing a chequebook or similar facility Item 15 – providing a chequebook in the capacity of a building society or credit union Item 16 – in capacity of trustee or trust manager providing a chequebook or similar facility Item 18 – issuing a debit card Item 18A – issuing debit card to a signatory of the account (other than holder of account) Item 19 – credit union or building society issuing a debit card Item 19A – credit union or building society issuing a debit card to signatory of the account Item 20 – trustee or trust manager issuing a debit card to beneficial owner Item 20A – trustee or trust manager issuing a debit card to a signatory authorised by beneficial owner Issuing money or postal orders Item 27 – issuing a money order, postal order or similar order Item 28 – in the capacity of an issuer of a money order, postal order or similar order cashing or redeeming that order First home saver account (FHSA) services Item 43A – in the capacity of a FHSA provider accepting a contribution, roll-over or transfer Item 43B – in the capacity of a FHSA provider cashing whole or part of an interest held by a FHSA holder Financial advisory services Item 54 – in the capacity of a holder of an Australian financial services licence making arrangements for a person to receive a designated service Electronic funds transfers Item 29 – capacity of ordering institution accepting an electronic funds transfer instruction (EFTI) Item 30 – capacity of beneficiary institution making money available as a result of an EFTI
Insurance and superannuation services Item 37 –issuing a life policy or sinking fund policy Item 38 – accepting a premium in relation to a life policy or sinking fund policy Item 39 – making a payment to a person under a life policy or sinking fund policy Item 40 – provider of a pension or annuity accepting payment of a price for a new pension or annuity Item 41 – making payment to a person as a provider of a pension or annuity Item 42 – trustee of a superannuation fund or approved deposit fund accepting a contribution, rollover or transfer Item 43 – trustee of a superannuation fund or approved deposit fund cashing whole or part of an interest held by a member Item 44 – retirement savings account (RSA) provider accepting a contribution, roll-over, or transfer to a RSA Item 45 – RSA provider cashing whole or part of an interest held by a RSA holder Cash carrying and payroll services Item 51 – collecting or holding physical currency Item 52 – preparing a payroll Item 53 – delivering physical currency including payrolls Financial services – subcategories Financing products Service or product category Table 1 designated services Making loans Item 6 – making a loan Forfaiting bills of exchange or promissory notes Item 9 – forfaiting a bill of exchange or promissory note
Guaranteeing loans Item 49 – as a guarantor for a loan making a payment Finance leasing Item10 – supplying goods under a finance lease Factoring receivables Item 8 – factoring a receivable Hire-purchase Item 13 – allowing person to conduct a transaction in relation to a hire purchase agreement Foreign exchange services Service or product category Table 1 designated services Issuing travellers cheques Item 25 – issuing travellers cheques Currency exchange Item 50 – exchanging one currency for another Financial instruments Service or product category Table 1 designated services Issuing bills of exchange, promissory notes or letters of credit Item 17 – Issuing bills of exchange, promissory notes or letters of credit Dealing in bills of exchange, promissory notes or letters of credit Item 34 – Dealing in bills of exchange, promissory notes or letters of credit Dealing in securities, derivatives or foreign exchange contracts Item 33 – acquiring or disposing of a security, derivative or foreign exchange contract Redeeming bearer bonds Item 36 – in capacity of issuer redeeming a bearer bond Issuing or selling securities or derivatives Item 35 – issuing or selling securities or derivatives Insurance services Service or product category Table 1 designated services
Issuing life or sinking fund policies Item 37 – issuing a life or sinking fund policy Retirement savings account services Item 44 – in capacity of RSA provider accepting a contribution, roll-over or transfer Providing pensions or annuities Item 41 – cashing in part or whole of an interest by a RSA holder Superannuation funds or approved deposit funds Item 42 – accepting a contribution, rollover or transfer in respect to a superannuation fund or approved deposit fund Custodial services and depository services Service or product category Table 1 designated services Custodial or depository services Item 46 – providing a custodial or depository service Safe deposit box facilities Item 47 – providing a safe deposit box Payroll services Service or product category Table 1 designated services Moving or holding physical currency Items 51 and 53 – collecting and delivering physical currency Preparing payrolls Item 52 – preparing a payroll in whole or part from physical currency collected Bullion services Service or product category Table 2 designated services Buy or sell bullion Item 1 – buying bullion Item 2 – selling bullion Gambling services Service or product category Table 2 designated services
3 in the capacity of account provider for an account, allowing a transaction to be conducted in relation to the account, where the account provider is: (a) an ADI; or (b) a bank; or (c) a building society; or (d) a credit union; or (e) a person specified in the AML/CTF Rules both: (a) the holder of the account; and (b) each other signatory to the account 4 accepting money on deposit (otherwise than by way of deposit to an account), where the deposittaker is: (a) an ADI; or (b) a bank; or (c) a building society; or (d) a credit union; or (e) a person specified in the AML/CTF Rules the person in whose name the deposit is held 5 in the capacity of deposittaker for a deposit, allowing a transaction to be conducted in relation to the deposit, where the deposittaker is: (a) an ADI; or (b) a bank; or (c) a building society; or (d) a credit union; or (e) a person specified in the AML/CTF Rules the person in whose name the deposit is held 6 making a loan, where the loan is made in the course of carrying on a loans business the borrower 7 in the capacity of: (a) lender for a loan; or (b) assignee (whether immediate or otherwise) of the lender for a loan; allowing the borrower to conduct a transaction in relation to the loan, where the loan was made in the course of carrying on a loans business the borrower 8 factoring a receivable, where the receivable is factored in the course of carrying on a factoring business the person whose receivable is factored
44 in the capacity of RSA provider, accepting a contribution, rollover or transfer to an RSA in respect of a new or existing RSA holder the RSA holder 45 in the capacity of RSA provider, cashing the whole or a part of an interest held by an RSA holder the RSA holder, or if the RSA holder has died, the person, or each of the persons, who receives the cashed whole or a cashed part of the relevant interest 46 providing a custodial or depository service, where: (a) the service is provided in the course of carrying on a business of providing custodial or depository services; and (b) the service is not an exempt legal practitioner service the client of the service 47 providing a safe deposit box, or similar facility, where: (a) the service is provided in the course of carrying on a business of providing safe deposit boxes or similar facilities; and (b) the service is not an exempt legal practitioner service the person who is, or each of the persons who are, authorised to lodge items in the safe deposit box or similar facility 48 guaranteeing a loan, where the guarantee is given in the course of carrying on a business of guaranteeing loans both: (a) the lender; and (b) the borrower 49 in the capacity of guarantor of a loan, making a payment to the lender, where the guarantee was given in the course of carrying on a business of guaranteeing loans both: (a) the lender; and (b) the borrower 50 exchanging one currency (whether Australian or not) for another (whether Australian or not), where the exchange is provided in the course of carrying on a currency exchange business the person whose currency is exchanged
7 exchanging money for gaming chips or tokens, where the service is provided in the course of carrying on a business the person whose money is exchanged 8 exchanging gaming chips or tokens for money, where the service is provided in the course of carrying on a business the person whose gaming chips or tokens are exchanged 9 paying out winnings, or awarding a prize, in respect of a game, where: (a) the game is played for money or anything else of value; and (b) the game is a game of chance or of mixed chance and skill; and (c) the service is provided in the course of carrying on a business; and (d) the game is not played on a gaming machine located at an eligible gaming machine venue the person to whom the winnings are paid or the prize is awarded 10 in the capacity of controller of an eligible gaming machine venue, paying out winnings, or awarding a prize, in respect of a game, where: (a) the game is played on a gaming machine located at the venue; and (b) the winnings are paid out, or the prize is awarded, by the controller as agent of the owner or lessee of the gaming machine; and (c) the service is provided in the course of carrying on a business the person to whom the winnings are paid or the prize is awarded 11 in the capacity of account provider, opening an account, where: (a) the account provider is a person who provides a service covered by item 1, 2, 3, 4, 6, 7, 8 or 9; and (b) the purpose, or one of the purposes, of the account is to facilitate the provision of a service covered by item 1, 2, 3, 4, 6, 7, 8 or 9; and (c) the service is provided in the course of carrying on a business the holder of the account 12 in the capacity of account provider for a new or existing account, allowing a person to become a signatory to the account, where: the signatory