Sch 10Exemptions

Schedule 10—Exemptions

 

1  Section 5 (definition of account)

account includes:

 (a) an account which has a nil balance; and

 (b) an account in relation to which no transactions have been allowed.

2  Section 5

Australian Border Force has the same meaning as in the Australian Border Force Act 2015.

credit card acquirer means a person who:

 (a) is a participant of a designated payment system under the Payment Systems (Regulation) Act 1998; and

 (b) pays, or accepts liability to pay, a merchant (either directly or through another person) for goods or services obtained, or to be obtained, by another person from the merchant in a credit card transaction.

credit card issuer means a person who:

 (a) is a participant of a designated payment system under the Payment Systems (Regulation) Act 1998; and

 (b) issues a credit card to a customer; and

 (c) either:

 (i) receives payment from the customer for amounts owed by the customer, under the terms governing the credit card, for credit card transactions; or

 (ii) pays, or accepts liability to pay, a credit card acquirer (either directly or through another person) for amounts paid or payable by the acquirer to a merchant for the customer’s credit card transactions.

deductible gift recipient has the same meaning as in the Income Tax Assessment Act 1997.

departing Australia superannuation payment has the same meaning as in the Income Tax Assessment Act 1997.

exchange settlement account means an account provided by the Reserve Bank of Australia that is used for the final settlement of obligations between holders of such accounts.

extension notice: see subsection 39B(7).

keep open notice: see subsection 39B(1).

on‑course bookmaker means a person who carries on a business of a bookmaker or a turf commission agent at a racecourse.

online gambling service:

 (a) means a designated service covered by an item of table 3 in section 6 of this Act that is provided to a customer using any of the means referred to in paragraph 5(1)(b) of the Interactive Gambling Act 2001; and

 (b) includes an excluded wagering service (within the meaning of that Act), but does not include a telephone betting service (within the meaning of that Act).

representative office, of a foreign bank, is an office of the foreign bank in Australia in respect of which the foreign bank has written consent to establish the representative office in Australia for the purposes of section 67 of the Banking Act 1959.