8‑5 Obligations of intermediary institut8‑5 Obligations of intermediary institutions—monitoring for receipt of information and passing on information

8‑5 Obligations of intermediary institutions—monitoring for receipt of information and passing on information

If the circumstances mentioned in column 1 of an item in the following table apply in relation to a transfer of value: (a) for the purposes of subsection 66(2) of the Act, the information that an intermediary institution must take reasonable steps to monitor whether it has received is such information relating to the transfer of value as is set out in column 2 of the item; and (b) for the purposes of paragraph 66(4)(a) of the Act, the information the intermediary institution must include is such information set out in column 3 of the item as is received from the previous institution in the value transfer chain.

<table cellspacing="0" cellpadding="0" style="width:100%; border-collapse:collapse"><thead><tr><td colspan="4" style="border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Obligations of intermediary institutions—monitoring for receipt of information and passing on information</span></p></td></tr><tr><td style="width:8.4%; border-top:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Item</span></p></td><td style="width:31.56%; border-top:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Column 1</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Column 2</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Column 3</span></p></td></tr><tr><td style="width:8.4%; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span></span></p></td><td style="width:31.56%; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Circumstances</span></p></td><td style="width:30.02%; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Information to monitor</span></p></td><td style="width:30.02%; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Information to pass on</span></p></td></tr></thead><tbody><tr><td style="width:8.4%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>1</span></p></td><td style="width:31.56%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>none of the circumstances mentioned in items</span><span> </span><span>2 to 7 apply</span></p></td><td style="width:30.02%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) payer information; and</span></p><p class="Tablea"><span>(b) the payee’s full name; and</span></p><p class="Tabletext"><span>(c) tracing information</span></p></td><td style="width:30.02%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>(a) payer information, and</span></p><p class="Tablea"><span>(b) the payee’s full name; and</span></p><p class="Tabletext"><span>(c) tracing information</span></p></td></tr><tr><td style="width:8.4%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>2</span></p></td><td style="width:31.56%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) the transfer of value is a domestic transfer of value; and</span></p><p class="Tablea"><span>(b) the transfer message for the transfer of value is passed on through BECS, BPAY or DEFT</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>tracing information</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>tracing information</span></p></td></tr><tr><td style="width:8.4%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>3</span></p></td><td style="width:31.56%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) the transfer message for the transfer of value contains information relating to multiple transfers of value from a payer; and</span></p><p class="Tablea"><span>(b) the circumstances mentioned in item</span><span> </span><span>2 do not apply</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) payer information, and</span></p><p class="Tablea"><span>(b) for each transfer of value in the transfer message:</span></p><p class="Tablei"><span>(i) the payee’s full name; and</span></p><p class="Tablei"><span>(ii) tracing information</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) payer information, and</span></p><p class="Tablea"><span>(b) for each transfer of value in the transfer message:</span></p><p class="Tablei"><span>(i) the payee’s full name; and</span></p><p class="Tablei"><span>(ii) tracing information</span></p></td></tr><tr><td style="width:8.4%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>4</span></p></td><td style="width:31.56%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>the transfer of value is a merchant payment</span></p><p class="Tablea"><span></span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>card number of the card the payer used in relation to the merchant payment</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>card number of the card the payer used in relation to the merchant payment</span></p><p class="Tabletext"><span></span></p></td></tr><tr><td style="width:8.4%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>5</span></p></td><td style="width:31.56%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>the transfer of value is a refund of a merchant payment</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>card number of the card the payer used in relation to the merchant payment that is refunded</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>card number of the card the payer used in relation to the merchant payment that is refunded</span></p></td></tr><tr><td style="width:8.4%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>6</span></p></td><td style="width:31.56%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a)</span><span style="width:3.1pt; text-indent:0pt; display:inline-block"> </span><span>the transfer of value is the withdrawal of money from an account held with a financial institution; and</span></p><p class="Tablea"><span>(b)</span><span style="width:2.54pt; text-indent:0pt; display:inline-block"> </span><span>the instruction for the transfer is given by the use of an ATM; and</span></p><p class="Tablea"><span>(c)</span><span style="width:3.1pt; text-indent:0pt; display:inline-block"> </span><span>the value will be made available to the payee as physical currency</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>card number of the card the payer used in relation to the withdrawal</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>card number of the card the payer used in relation to the withdrawal</span></p></td></tr><tr><td style="width:8.4%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>7</span></p></td><td style="width:31.56%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) the value being transferred is money; and</span></p><p class="Tablea"><span>(b) the money is in a foreign country and, as a result of the provision of an international value transfer service, the money will be in Australia; and</span></p><p class="Tablea"><span>(c) the intermediary institution passes on the transfer message for the transfer of value through BECS</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) payer information; and</span></p><p class="Tablea"><span>(b) the payee’s full name; and</span></p><p class="Tabletext"><span>(c) tracing information</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>tracing information</span></p></td></tr></tbody></table>