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

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Department of Home Affairs

This item is authorised by the following title:

Anti-Money Laundering and Counter-Terrorism Financing Act 2006

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F2019C00041 C55

21 December 2018 - 25 February 2019

This instrument commences as follows: (a) on 12 June 2007 - Schedule 1; (b) on 12 December 2007 - Schedule 2.

Table of contents

be made by an individual authorised to act on behalf of the applicant;
be made using the approved form; and
contain the relevant registrable details as prescribed by that form, including:
identification and, where applicable, registration details of the applicant and each of the applicant’s key personnel;
details regarding the nature, legal form, status, and structure of the applicant’s business (including in relation to beneficial ownership and control); and
whether the applicant or any of its key personnel have been:
charged, prosecuted, or convicted in relation to money laundering, terrorism financing, terrorism, people smuggling, fraud, a serious offence, or an offence under the AML/CTF Act or FTR Act; or
the subject of any adversely determined civil or criminal proceedings or enforcement action in relation to the management of an entity, or their commercial or professional activities.
whether the applicant has complied with the application requirements under paragraph 76.2; and
the information contained in the application, including whether there are reasonable grounds to suspect that any information or document provided by the applicant is false or misleading (whether by inclusion or omission) in a material particular.
the person has complied with the requirements of section 76P of the AML/CTF Act, where applicable; and
the person’s enrolment and registration details as they appear on both the Reporting Entities Roll and the Digital Currency Exchange Register are current and correct.
whether the applicant has complied with the requirements under paragraph 76.5;
the information contained in the application, including whether there are reasonable grounds to suspect that any information or document provided by the applicant is false or misleading (whether by inclusion or omission) in a material particular; and
whether the renewal of registration may involve significant money laundering, financing of terrorism, or other serious crime risk.
the terms of the decision (including any conditions that the renewed registration is subject to); and
if the decision is not to renew registration:
the date the decision takes effect;
the reasons for the decision; and
the particulars of the person’s right to have the decision reviewed.
whether the person or any of its key personnel have been:
charged, prosecuted, or convicted in relation to money laundering, terrorism financing, terrorism, people smuggling, fraud, a serious offence, or an offence under the AML/CTF Act or FTR Act;
the subject of a civil penalty order made under the AML/CTF Act; or
the subject of any adversely determined civil or criminal proceedings or enforcement action in relation to the management of an entity, or their commercial or professional activities; and
whether there are reasonable grounds to believe that:
any information or document provided under this Chapter was false or misleading (whether by inclusion or omission) in a material particular;
the continued registration of the person involves, or may involve, significant money laundering, financing of terrorism, or other serious crime risk; or
the person has contravened a condition of registration imposed under section 76G of the AML/CTF Act.
the terms of the decision; and
if the decision is to suspend registration:
the period of suspension;
of a change that materially affects any information previously provided under this Chapter; or
that any information or document provided under this Chapter is incorrect, incomplete, or misleading in a material respect,
the Digital Currency Exchange Register, in whole or in part;
specified information entered on the Digital Currency Exchange Register;
details of persons whose applications for registration or renewal of registration on the Digital Currency Exchange Register have been refused;
details of persons whose registration on the Digital Currency Exchange Register has been suspended, and the date the suspension took effect; and
details of persons whose registration on the Digital Currency Exchange Register has been cancelled, and the date the cancellation took effect.
‘approved’ means approved by the AUSTRAC CEO, in writing, for the purposes of the provision in which the term occurs.
‘authorised individual’ means a natural person who is:
a beneficial owner; or
an officer as defined in section 9 of the Corporations Act 2001 or;
an employee of the applicant who has been authorised in writing by an applicant to act in this capacity;
‘key personnel’ means:
in the case of a company, corporation sole or body politic, is a natural person that is;
an officer as defined in section 9 of the Corporations Act 2001, or an employee or agent of the body corporate with duties of such responsibility that his or her conduct may fairly be assumed to represent the body corporate's policy;
in the case of an individual, trust or partnership, is a natural person that is an employee or agent of the individual, trust or partnership with duties of such responsibility that his or her conduct may fairly be assumed to represent the policy of the individual, trust or partnership;
‘serious offence’ means:
an offence against a law of the Commonwealth, or a law of a State or Territory, punishable on indictment by imprisonment for 2 or more years; or
an offence against a law of a foreign country constituted by conduct that, if it had occurred in Australia, would have constituted a serious offence.

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

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