1Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 2)

Image unavailable in extracted text

Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 2)

Anti-Money Laundering and Counter-Terrorism Financing Act 2006

I, NEIL J JENSEN, Chief Executive Officer, Australian Transaction Reports and Analysis Centre, make this Instrument under section 229 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.

Dated 29 March 2007

[Signed]
NEIL J JENSEN
Chief Executive Officer
Australian Transaction Reports and Analysis Centre

1 Name of Instrument

This Instrument is the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 2).

2 Commencement

This Instrument commences on the day after it is registered – the definition of ‘correspondent banking relationship’ in section 5 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.

3 Rules

I make the Rules set out in Schedule 1.

Schedule 1

Anti-Money Laundering and Counter-Terrorism Financing Rules in Respect of Paragraph (e) of the Definition of ‘Correspondent Banking Relationship’ in Section 5 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006

1. These Anti-Money Laundering and Counter-Terrorism Financing Rules (Rules) are made pursuant to section 229 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) for the purposes of paragraph (e) of the definition of ‘correspondent banking relationship’ in section 5 of the AML/CTF Act.

2. For the purposes of paragraph (e) of the definition of correspondent banking relationship in section 5 of the AML/CTF Act, all banking services that do not involve nostro or vostro accounts are specified.

Note: these Rules will commence on the day after they are registered.