Part 1
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Commonwealth legislation
The instrument implements practical anti‑money‑laundering and counter‑terrorism financing obligations under the AML/CTF Act 2006, requiring businesses to enrol/register, verify customers, report suspicious transactions, manage transfer‑of‑value data, and maintain risk‑based compliance programs.
It applies to banks, remitters, crypto exchanges, real‑estate and precious‑metals dealers, gambling operators and other providers of designated services — and matters because it enforces Australia’s FATF obligations, with significant penalties and potential loss of registration for non‑compliance.
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Direct links to the current provisions in Anti-Money Laundering and Counter-Terrorism Financing Rules 2025.
This instrument is the Anti‑Money Laundering and Counter‑Terrorism Financing Rules 2025.
This instrument is made under the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.
Note: Expressions used in this instrument have the same meaning as in the Act (see paragraph 13(1)(b) of the Legislation Act 2003). Some examples are the following:
(a) designated service;
(b) financial institution;
(c) governing body;
(d) nested services relationship;
(e) reporting entity;
(f) senior manager;
(g) transfer of value.
In this instrument:
ABN has the meaning given by section 41 of the A New Tax System (Australian Business Number) Act 1999.
ACN has the meaning given by section 9 of the Corporations Act 2001.
Act means the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.
ARBN has the meaning given by section 9 of the Corporations Act 2001.
ARSN has the meaning given by section 9 of the Corporations Act 2001.
Attorney‑General’s Department means the Department administered by the Attorney‑General.
BECS means the Bulk Electronic Clearing System administered by the Australian Payments Network.
BPAY means the electronic bill payment system known as BPAY.
card number includes a tokenised reference that allows the issuer of a credit card, debit card or stored value card to trace a payment to a payer’s card.
co‑operative means a body that, under a law of the Commonwealth, a State, a Territory or a foreign country, is registered as a co‑operative.
corporate group means a group of 2 or more bodies corporate, where each member of the group is a related body corporate of each other member of the group.
Defence Department means the Department administered by the Minister responsible for administering the Defence Act 1903.
DEFT (short for “Direct Electronic Funds Transfer”) means the electronic bill payment system known as DEFT.
director identification number has the meaning given by section 9 of the Corporations Act 2001.
domestic transfer of value: a transfer of value is a domestic transfer of value if the value to be transferred is in Australia and, as a result of the transfer, the value will be in Australia.
Note: See section 8‑9 for the circumstances in which the value is in a country.
earnings has the meaning given by subsection 3‑4(1).
eligible officer has the meaning given by section 1272B of the Corporations Act 2001.
Foreign Affairs Department means the Department administered by the Minister responsible for administering the Diplomatic Privileges and Immunities Act 1967.
foreign company has the same meaning as in the Corporations Act 2001.
Home Affairs Department means the Department administered by the Minister responsible for administering the Australian Border Force Act 2015.
independent evaluation report has the meaning given by paragraph 5‑10(2)(e).
key personnel of a person means each individual who is any of the following:
(a) either:
(i) for a person who is an individual—the individual; or
(ii) otherwise—the individual, or an individual in the group of individuals, with primary responsibility for the governance and executive decisions of the person;
(b) for a person other than an individual—a beneficial owner of the person;
(c) an individual who makes, or participates in making, decisions that affect the whole, or a substantial part, of the business of the person;
(d) an AML/CTF compliance officer of the person.
Note: For a person who is a reporting entity:
(a) paragraph (a) covers the reporting entity’s governing body (defined in section 5 of the Act); and
(b) paragraph (c) covers a senior manager (defined in section 5 of the Act) of the reporting entity.
leviable entity has the same meaning as in the Australian Transaction Reports and Analysis Centre Industry Contribution Act 2011.
merchant payment: a transfer of value is a merchant payment if:
(a) the value transferred is money; and
(b) the money is transferred to the payee in the payee’s capacity as a merchant; and
(c) the transfer occurs as a result of the use of any of the following:
(i) a credit card;
(ii) a debit card;
(iii) a stored value card; and
(d) the ordering institution issued that card to the payer; and
(e) the beneficiary institution initiates the transfer by sending the payer’s instruction for the transfer to the ordering institution; and
(f) the beneficiary institution pays, or accepts liability to pay, the payee (either directly or through another person).
passport has the same meaning as in the Migration Act 1958.
payable‑through accounts has the meaning given by paragraph 7‑1(3)(g).
payer information, in relation to a transfer of value, means both of the following:
(a) the payer’s full name;
(b) information that is one or more of the following:
(i) a unique customer identification number given to the payer by the ordering institution;
(ii) a unique identifier for the payer;
(iii) if the payer is an individual—the payer’s date and place of birth;
(iv) the payer’s full business or residential address (not being a post box).
registered financial sector entity means an entity that is a registered entity within the meaning of the Financial Sector (Collection of Data) Act 2001.
registrable services means:
(a) in relation to registration or proposed registration of a person under Part 6 of the Act as a remittance network provider—registrable remittance network services; or
(b) in relation to registration or proposed registration of a person under Part 6 of the Act as an independent remittance dealer or a remittance affiliate of a registered remittance network provider—registrable remittance services; or
(c) in relation to registration or proposed registration of a person under Part 6A of the Act as a virtual asset service provider—registrable virtual asset services.
related body corporate has the same meaning as in the Corporations Act 2001.
South Australian Electricity Legislation has the same meaning as in the Competition and Consumer Act 2010.
super‑agent has the meaning given by subsection 4‑13(2).
tracing information, in relation to a transfer of value, means information that satisfies both of the following:
(a) the information:
(i) for a transfer from an account held by the payer with the ordering institution—enables the ordering institution to identify the account; or
(ii) for a transfer of a virtual asset from a custodial wallet—enables the ordering institution to identify the payer’s virtual asset holdings in the wallet (such as by providing the wallet address, including the destination tag or memo details, if applicable); or
(iii) for a transfer of a virtual asset from a self‑hosted virtual asset wallet—provides the address of the wallet; or
(iv) in any other case—provides a unique transaction reference number for the transfer of value;
(b) the information:
(i) for a transfer in circumstances where the value is to be made available to the payee by depositing it into an account held by the payee—enables the beneficiary institution to identify the account; or
(ii) for a transfer of a virtual asset in circumstances where the asset is to be made available to the payee by transferring it to a custodial wallet—enables the beneficiary institution to identify the payee’s virtual asset holdings in the wallet (such as by providing the wallet address, including the destination tag or memo details, if applicable); or
(iii) for a transfer of a virtual asset in circumstances where the value is to be made available to the payee by transferring it to a self‑hosted virtual asset wallet—provides the address of the wallet; or
(iv) in any other case—provides a unique transaction reference number for the transfer of value.
Note: An example of information to which subparagraphs (a)(i) and (b)(i) apply is a combination of a BSB and account number.
ultimate parent of a remitter, virtual asset service provider or financial institution means a body corporate that:
(a) controls the remitter, virtual asset service provider or financial institution; and
(b) is not itself controlled by another body corporate.
Note: For the meaning of control, see section 11 of the Act.
unique identifier for a person means:
(a) a unique identifier given to the person by an Australian government body (other than the person’s tax file number within the meaning of section 202A of the Income Tax Assessment Act 1936); or
(b) a unique identifier given to the person by a government body of a foreign country (together with information identifying the body); or
(c) a legal entity identifier given to the person by an organisation accredited by the Global Legal Entity Identifier Foundation (together with information identifying the organisation); or
(d) a connected business identifier code given to the person by the Society for Worldwide Interbank Financial Telecommunication.
unique transaction reference number, in relation to a transfer of value, means information to which both of the following paragraphs apply:
(a) the information is a combination of any or all of the following:
(i) letters;
(ii) digits;
(iii) characters;
(iv) symbols;
(b) the information distinguishes the transfer of value in a way that, either alone or in conjunction with any other information in the transfer message for the transfer of value, enables the ordering institution to associate the transfer of value with the payer, and the beneficiary institution to associate the transfer of value with the payee.
For the purposes of paragraph (a) of the definition of domestic politically exposed person in section 5 of the Act, the following offices and positions are specified: (a) Governor‑General; (b) Governor of a State; (c) Administrator of a Territory; (d) Justice of the High Court; (e) Judge of the Federal Court of Australia; (f) Judge of the Supreme Court of a State or Territory; (g) accountable authority, or member of the accountable authority, of a Commonwealth entity within the meaning of the Public Governance, Performance and Accountability Act 2013; (h) member of the governing body of a wholly‑owned Commonwealth company within the meaning of the Public Governance, Performance and Accountability Act 2013; (i) head (however described) of: (i) a Department of State of a State or Territory; or (ii) an agency or authority of a State or Territory that has a prominent public function; (j) head (however described) of a local government council in a State or Territory; (k) any of the following offices of a company or other incorporated body that is wholly‑owned or majority‑owned by a State or Territory: (i) chair of the board; (ii) chief executive officer; (iii) chief financial officer; (l) Chief of the Defence Force, Vice Chief of the Defence Force, Chief of Navy, Chief of Army or Chief of Air Force; (m) officer of the Navy of the rank of Vice Admiral or a higher rank; (n) officer of the Army of the rank of Lieutenant General or a higher rank; (o) officer of the Air Force of the rank of Air Marshal or a higher rank; (p) any of the following offices of the Commonwealth in a foreign country, or to a public international organisation, to which appointments are made by the Governor‑General: (i) Ambassador; (ii) High Commissioner; (iii) Consul‑General; (iv) Australian Representative; (v) Special Representative; (vi) Representative; (vii) Permanent Representative; (viii) Chargé d’Affaires; (q) member of the governing body of a political party represented in the legislature of the Commonwealth or a State or Territory.
For the purposes of the definition of enrolment details in section 5 of the Act, enrolment details in relation to a person are the information mentioned in sections 3‑2, 3‑3 and 3‑4 in relation to the person (as an applicant).
Note: Sections 3‑2, 3‑3 and 3‑4 set out the information that is required to be contained in an enrolment application regarding the applicant and its designated services.
For the purposes of the definition of registrable details in section 5 of the Act, the following are the registrable details in relation to a person registered under Part 6 or 6A of the Act (which deal with the Remittance Sector Register and the Virtual Asset Service Provider Register): (a) the full name of the person; (b) any other names of the person under which the person provides or will provide its registrable services; (c) the person’s ABN, ACN, ARBN and ARSN (as applicable); (d) a legal entity identifier for the person (if any) given by an organisation accredited by the Global Legal Entity Identifier Foundation (together with information identifying the organisation); (e) the address of the principal place of business of the person in Australia (if applicable); (f) the domain names for all websites through which the person provides or will provide its registrable services.
(1) For the purposes of paragraph (b) of the definition of transfer of value in section 5 of the Act, a transfer covered by subsection (2) or (3) of this section is specified. (2) This subsection covers a transfer of a security or derivative that is not a virtual asset. (3) This subsection covers a transfer of money if: (a) the transfer occurs in the course of a person performing administrative services for a client of the person that is an employer; and (b) the administrative services relate to: (i) payments, on behalf of the employer, of salary, wages or other benefits to its employees; or (ii) arrangements between the employer and its employees under which employees forgo amounts of salary or wages in return for benefits of a similar cost; or (iii) payments, on behalf of the employer, of superannuation contributions for its employees; and (c) the transfer does not involve the receipt of physical currency from the payer or a person acting on behalf of the payer; and (d) the transfer does not involve making physical currency available to the payee or to a person acting on behalf of the payee.
For the purposes of paragraph 7A(2)(a) of the Act, an interest in a managed investment scheme is specified as a security.
Business group that is ineligible (1) For the purposes of subparagraph 10A(1)(a)(iii) of the Act, a business group is ineligible to be a reporting group if: (a) a member of the business group that is a reporting entity gives the other reporting entities in the group notice in writing that the member declines to be a member of a reporting group; and (b) the notice by the member has not been withdrawn by further notice in writing to the other reporting entities in the group; and (c) the member that gave the notice continues to be a reporting entity.
Note: A person enrolled under Part 3A of the Act (Reporting Entities Roll) is required to advise of changes in the person’s enrolment details, including whether the person is a member of a reporting group—see subsection 51F(1) of the Act and subsection 3‑3(8) and section 3‑9 of this instrument.
(1A) A notice given by a reporting entity for the purposes of subsection (1) is taken to be effective if the reporting entity has taken reasonable steps to ensure it is given to all the other reporting entities in the business group, and is not invalid merely because a particular reporting entity did not receive the notice. Lead entity (2) For the purposes of subsection 10A(5) of the Act, the lead entity of a reporting group to which paragraph 10A(1)(a) of the Act applies must satisfy the following requirements: (a) the member is: (i) the member of the reporting group that the members of the group that themselves satisfy paragraphs (b) and (d) of this subsection have agreed, in writing, will be the lead entity of the group; or (ii) appointed in writing by the person in the business group that controls each other person in the group to be the lead entity of the reporting group; (b) the member is not controlled by another member of the group that provides designated services; (c) the member has the capability and authority (including by consent of group members) to develop and maintain the AML/CTF policies required by reporting entities in the group; (d) the member is one of the following: (i) a body corporate incorporated in Australia; (ii) a registered foreign company within the meaning of the Corporations Act 2001; (iii) a trust that has at least one trustee that is a resident of Australia; (iv) if the member is not a body corporate, foreign company or trust—a resident of Australia. Conditions for operation of reporting group (3) For the purposes of subparagraph 10A(1)(a)(iv) of the Act: (a) a reporting group must not operate without a lead entity for a continuous period of more than 28 days; and (b) during any such period, each member of the reporting group that is a reporting entity must continue to comply with the AML/CTF policies of the most recent lead entity of the group (the previous lead entity) that applied to the member immediately before the previous lead entity ceased to be the lead entity of the group.
Conditions on group members (1) For the purposes of subparagraph 10A(1)(b)(iv) of the Act, each member of the group must be: (a) a reporting entity; or (b) a person who discharges obligations imposed on members of the reporting group by the Act, the regulations or the AML/CTF Rules; or (c) a member of a business group. (2) A member of a business group is only permitted to be a member of a group to which paragraph 10A(1)(b) of the Act applies if all members of the business group are also members of the group to which paragraph 10A(1)(b) applies.
Note: If one member of a business group elects to leave a reporting group, the other members of the business group are no longer permitted to be members of the reporting group (and are taken to have elected to also leave—see subsection (9)).
Lead entity (3) For the purposes of subsection 10A(5) of the Act, the lead entity of a reporting group to which paragraph 10A(1)(b) of the Act applies is the member of the group that satisfies the following requirements: (a) the member is not controlled by another member of the reporting group that provides designated services; (b) if the reporting group includes members of one or more business groups—the member is a member of one of those business groups; (c) the other members of the group have agreed to the member having the capacity to determine the outcome of decisions about the AML/CTF policies of the other members; (d) the member is one of the following: (i) a body corporate incorporated in Australia; (ii) a registered foreign company within the meaning of the Corporations Act 2001; (iii) a trust that has at least one trustee that is a resident of Australia; (iv) if the member is not a body corporate, foreign company or trust—a resident of Australia. Election to join reporting group (4) For the purposes of subparagraph 10A(1)(b)(ii) of the Act, a person electing to be a member of a reporting group that is already in operation must have obtained the consent of the lead entity of the reporting group.
Note 1: A person enrolled under Part 3A of the Act (Reporting Entities Roll) is required to advise of changes in the person’s enrolment details, including whether the person is a member of a reporting group—see subsection 51F(1) of the Act and subsection 3‑3(8) and section 3‑9 of this instrument.
Note 2: The AML/CTF policies of the lead entity of a reporting group must deal with recording changes of membership—see section 5‑16 of this instrument.
(5) For the purposes of subsection 10A(1B) of the Act, a member of a business group is not required to make an election in writing if another member of the business group has made an election on behalf of, and with the consent of, all members. (6) For the purposes of subparagraph 10A(1)(b)(vi) and subsection 10A(1B) of the Act, if: (a) a person becomes a member of a business group; and (b) the existing members of the business group are members of a reporting group to which paragraph 10A(1)(b) of the Act applies; the person also becomes a member of the reporting group. Conditions for leaving group (7) For the purposes of subparagraph 10A(1)(b)(vi) of the Act, a member of a reporting group (other than the lead entity) that elects to leave the reporting group must give the lead entity notice in writing.
Note 1: A person enrolled under Part 3A of the Act (Reporting Entities Roll) is required to advise of changes in the person’s enrolment details, including whether the person is a member of a reporting group—see subsection 51F(1) of the Act and subsection 3‑3(8) and section 3‑9 of this instrument.
Note 2: The AML/CTF policies of the lead entity of a reporting group must deal with recording changes of membership—see section 5‑16 of this instrument.
(8) For the purposes of subparagraph 10A(1)(b)(vi) of the Act, if the lead entity of a reporting group elects to leave the reporting group, the lead entity must give each other member of the group notice in writing.
Note: A person enrolled under Part 3A of the Act (Reporting Entities Roll) is required to advise of changes in the person’s enrolment details, including whether the person is a member of a reporting group—see subsection 51F(1) of the Act and subsection 3‑3(8) and section 3‑9 of this instrument.
(9) For the purposes of subparagraph 10A(1)(b)(vi) of the Act, if a member of a reporting group that elects to leave the group is also a member of a business group, all members of the business group are taken to have elected to leave the reporting group. Condition for operation of group (10) For the purposes of subparagraph 10A(1)(b)(vi) of the Act: (a) a reporting group must not operate without a lead entity for a continuous period of more than 28 days; and (b) during any such period, each member of the reporting group that is a reporting entity must continue to comply with the AML/CTF policies of the most recent lead entity of the group (the previous lead entity) that applied to the member immediately before the previous lead entity ceased to be the lead entity of the group. Membership of more than one reporting group (11) For the purposes of subsection 10A(2A) of the Act, a person that is: (a) a member of a reporting group to which paragraph 10A(1)(b) of the Act applies; and (b) a member of a business group that is a reporting group to which paragraph 10A(1)(a) of the Act applies; is taken for the purposes of the Act to be a member of only the former.
For the purposes of paragraph 236B(5)(c) of the Act, it is a condition for discharging an obligation imposed on a reporting entity that is a member of a reporting group that the reporting group has a lead entity.
(1) For the purposes of paragraph 236B(5)(c) of the Act, this section specifies conditions that apply when the member of the reporting group (the discharging member) that is to discharge an obligation of another member of the reporting group is not itself a reporting entity. (2) The discharging member must have undertaken due diligence, in relation to persons who are employed or otherwise engaged and who perform functions relevant to discharging the obligation, that satisfies the requirements of the AML/CTF policies of the reporting entity included in those policies for the purposes of paragraph 26F(4)(d) of the Act. (3) The discharging member must have provided training to those persons that satisfies the requirements of the AML/CTF policies of the reporting entity included in those policies for the purposes of paragraph 26F(4)(e) of the Act.
Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.
This instrument is the Anti‑Money Laundering and Counter‑Terrorism Financing Rules 2025.
This instrument is made under the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.
Note: Expressions used in this instrument have the same meaning as in the Act (see paragraph 13(1)(b) of the Legislation Act 2003). Some examples are the following:
(a) designated service;
(b) financial institution;
(c) governing body;
(d) nested services relationship;
(e) reporting entity;
(f) senior manager;
(g) transfer of value.
In this instrument:
ABN has the meaning given by section 41 of the A New Tax System (Australian Business Number) Act 1999.
ACN has the meaning given by section 9 of the Corporations Act 2001.
Act means the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.
ARBN has the meaning given by section 9 of the Corporations Act 2001.
ARSN has the meaning given by section 9 of the Corporations Act 2001.
Attorney‑General’s Department means the Department administered by the Attorney‑General.
BECS means the Bulk Electronic Clearing System administered by the Australian Payments Network.
BPAY means the electronic bill payment system known as BPAY.
card number includes a tokenised reference that allows the issuer of a credit card, debit card or stored value card to trace a payment to a payer’s card.
co‑operative means a body that, under a law of the Commonwealth, a State, a Territory or a foreign country, is registered as a co‑operative.
corporate group means a group of 2 or more bodies corporate, where each member of the group is a related body corporate of each other member of the group.
Defence Department means the Department administered by the Minister responsible for administering the Defence Act 1903.
DEFT (short for “Direct Electronic Funds Transfer”) means the electronic bill payment system known as DEFT.
director identification number has the meaning given by section 9 of the Corporations Act 2001.
domestic transfer of value: a transfer of value is a domestic transfer of value if the value to be transferred is in Australia and, as a result of the transfer, the value will be in Australia.
Note: See section 8‑9 for the circumstances in which the value is in a country.
earnings has the meaning given by subsection 3‑4(1).
eligible officer has the meaning given by section 1272B of the Corporations Act 2001.
Foreign Affairs Department means the Department administered by the Minister responsible for administering the Diplomatic Privileges and Immunities Act 1967.
foreign company has the same meaning as in the Corporations Act 2001.
Home Affairs Department means the Department administered by the Minister responsible for administering the Australian Border Force Act 2015.
independent evaluation report has the meaning given by paragraph 5‑10(2)(e).
key personnel of a person means each individual who is any of the following:
(a) either:
(i) for a person who is an individual—the individual; or
(ii) otherwise—the individual, or an individual in the group of individuals, with primary responsibility for the governance and executive decisions of the person;
(b) for a person other than an individual—a beneficial owner of the person;
(c) an individual who makes, or participates in making, decisions that affect the whole, or a substantial part, of the business of the person;
(d) an AML/CTF compliance officer of the person.
Note: For a person who is a reporting entity:
(a) paragraph (a) covers the reporting entity’s governing body (defined in section 5 of the Act); and
(b) paragraph (c) covers a senior manager (defined in section 5 of the Act) of the reporting entity.
leviable entity has the same meaning as in the Australian Transaction Reports and Analysis Centre Industry Contribution Act 2011.
merchant payment: a transfer of value is a merchant payment if:
(a) the value transferred is money; and
(b) the money is transferred to the payee in the payee’s capacity as a merchant; and
(c) the transfer occurs as a result of the use of any of the following:
(i) a credit card;
(ii) a debit card;
(iii) a stored value card; and
(d) the ordering institution issued that card to the payer; and
(e) the beneficiary institution initiates the transfer by sending the payer’s instruction for the transfer to the ordering institution; and
(f) the beneficiary institution pays, or accepts liability to pay, the payee (either directly or through another person).
passport has the same meaning as in the Migration Act 1958.
payable‑through accounts has the meaning given by paragraph 7‑1(3)(g).
payer information, in relation to a transfer of value, means both of the following:
(a) the payer’s full name;
(b) information that is one or more of the following:
(i) a unique customer identification number given to the payer by the ordering institution;
(ii) a unique identifier for the payer;
(iii) if the payer is an individual—the payer’s date and place of birth;
(iv) the payer’s full business or residential address (not being a post box).
registered financial sector entity means an entity that is a registered entity within the meaning of the Financial Sector (Collection of Data) Act 2001.
registrable services means:
(a) in relation to registration or proposed registration of a person under Part 6 of the Act as a remittance network provider—registrable remittance network services; or
(b) in relation to registration or proposed registration of a person under Part 6 of the Act as an independent remittance dealer or a remittance affiliate of a registered remittance network provider—registrable remittance services; or
(c) in relation to registration or proposed registration of a person under Part 6A of the Act as a virtual asset service provider—registrable virtual asset services.
related body corporate has the same meaning as in the Corporations Act 2001.
South Australian Electricity Legislation has the same meaning as in the Competition and Consumer Act 2010.
super‑agent has the meaning given by subsection 4‑13(2).
tracing information, in relation to a transfer of value, means information that satisfies both of the following:
(a) the information:
(i) for a transfer from an account held by the payer with the ordering institution—enables the ordering institution to identify the account; or
(ii) for a transfer of a virtual asset from a custodial wallet—enables the ordering institution to identify the payer’s virtual asset holdings in the wallet (such as by providing the wallet address, including the destination tag or memo details, if applicable); or
(iii) for a transfer of a virtual asset from a self‑hosted virtual asset wallet—provides the address of the wallet; or
(iv) in any other case—provides a unique transaction reference number for the transfer of value;
(b) the information:
(i) for a transfer in circumstances where the value is to be made available to the payee by depositing it into an account held by the payee—enables the beneficiary institution to identify the account; or
(ii) for a transfer of a virtual asset in circumstances where the asset is to be made available to the payee by transferring it to a custodial wallet—enables the beneficiary institution to identify the payee’s virtual asset holdings in the wallet (such as by providing the wallet address, including the destination tag or memo details, if applicable); or
(iii) for a transfer of a virtual asset in circumstances where the value is to be made available to the payee by transferring it to a self‑hosted virtual asset wallet—provides the address of the wallet; or
(iv) in any other case—provides a unique transaction reference number for the transfer of value.
Note: An example of information to which subparagraphs (a)(i) and (b)(i) apply is a combination of a BSB and account number.
ultimate parent of a remitter, virtual asset service provider or financial institution means a body corporate that:
(a) controls the remitter, virtual asset service provider or financial institution; and
(b) is not itself controlled by another body corporate.
Note: For the meaning of control, see section 11 of the Act.
unique identifier for a person means:
(a) a unique identifier given to the person by an Australian government body (other than the person’s tax file number within the meaning of section 202A of the Income Tax Assessment Act 1936); or
(b) a unique identifier given to the person by a government body of a foreign country (together with information identifying the body); or
(c) a legal entity identifier given to the person by an organisation accredited by the Global Legal Entity Identifier Foundation (together with information identifying the organisation); or
(d) a connected business identifier code given to the person by the Society for Worldwide Interbank Financial Telecommunication.
unique transaction reference number, in relation to a transfer of value, means information to which both of the following paragraphs apply:
(a) the information is a combination of any or all of the following:
(i) letters;
(ii) digits;
(iii) characters;
(iv) symbols;
(b) the information distinguishes the transfer of value in a way that, either alone or in conjunction with any other information in the transfer message for the transfer of value, enables the ordering institution to associate the transfer of value with the payer, and the beneficiary institution to associate the transfer of value with the payee.
For the purposes of paragraph (a) of the definition of domestic politically exposed person in section 5 of the Act, the following offices and positions are specified: (a) Governor‑General; (b) Governor of a State; (c) Administrator of a Territory; (d) Justice of the High Court; (e) Judge of the Federal Court of Australia; (f) Judge of the Supreme Court of a State or Territory; (g) accountable authority, or member of the accountable authority, of a Commonwealth entity within the meaning of the Public Governance, Performance and Accountability Act 2013; (h) member of the governing body of a wholly‑owned Commonwealth company within the meaning of the Public Governance, Performance and Accountability Act 2013; (i) head (however described) of: (i) a Department of State of a State or Territory; or (ii) an agency or authority of a State or Territory that has a prominent public function; (j) head (however described) of a local government council in a State or Territory; (k) any of the following offices of a company or other incorporated body that is wholly‑owned or majority‑owned by a State or Territory: (i) chair of the board; (ii) chief executive officer; (iii) chief financial officer; (l) Chief of the Defence Force, Vice Chief of the Defence Force, Chief of Navy, Chief of Army or Chief of Air Force; (m) officer of the Navy of the rank of Vice Admiral or a higher rank; (n) officer of the Army of the rank of Lieutenant General or a higher rank; (o) officer of the Air Force of the rank of Air Marshal or a higher rank; (p) any of the following offices of the Commonwealth in a foreign country, or to a public international organisation, to which appointments are made by the Governor‑General: (i) Ambassador; (ii) High Commissioner; (iii) Consul‑General; (iv) Australian Representative; (v) Special Representative; (vi) Representative; (vii) Permanent Representative; (viii) Chargé d’Affaires; (q) member of the governing body of a political party represented in the legislature of the Commonwealth or a State or Territory.
For the purposes of the definition of enrolment details in section 5 of the Act, enrolment details in relation to a person are the information mentioned in sections 3‑2, 3‑3 and 3‑4 in relation to the person (as an applicant).
Note: Sections 3‑2, 3‑3 and 3‑4 set out the information that is required to be contained in an enrolment application regarding the applicant and its designated services.
For the purposes of the definition of registrable details in section 5 of the Act, the following are the registrable details in relation to a person registered under Part 6 or 6A of the Act (which deal with the Remittance Sector Register and the Virtual Asset Service Provider Register): (a) the full name of the person; (b) any other names of the person under which the person provides or will provide its registrable services; (c) the person’s ABN, ACN, ARBN and ARSN (as applicable); (d) a legal entity identifier for the person (if any) given by an organisation accredited by the Global Legal Entity Identifier Foundation (together with information identifying the organisation); (e) the address of the principal place of business of the person in Australia (if applicable); (f) the domain names for all websites through which the person provides or will provide its registrable services.
(1) For the purposes of paragraph (b) of the definition of transfer of value in section 5 of the Act, a transfer covered by subsection (2) or (3) of this section is specified. (2) This subsection covers a transfer of a security or derivative that is not a virtual asset. (3) This subsection covers a transfer of money if: (a) the transfer occurs in the course of a person performing administrative services for a client of the person that is an employer; and (b) the administrative services relate to: (i) payments, on behalf of the employer, of salary, wages or other benefits to its employees; or (ii) arrangements between the employer and its employees under which employees forgo amounts of salary or wages in return for benefits of a similar cost; or (iii) payments, on behalf of the employer, of superannuation contributions for its employees; and (c) the transfer does not involve the receipt of physical currency from the payer or a person acting on behalf of the payer; and (d) the transfer does not involve making physical currency available to the payee or to a person acting on behalf of the payee.
For the purposes of paragraph 7A(2)(a) of the Act, an interest in a managed investment scheme is specified as a security.
Business group that is ineligible (1) For the purposes of subparagraph 10A(1)(a)(iii) of the Act, a business group is ineligible to be a reporting group if: (a) a member of the business group that is a reporting entity gives the other reporting entities in the group notice in writing that the member declines to be a member of a reporting group; and (b) the notice by the member has not been withdrawn by further notice in writing to the other reporting entities in the group; and (c) the member that gave the notice continues to be
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