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Exemptions by designated service

For a full description of the 'Designated service' refer to section 6 of the AML/CTF Act.

Part 4.14 of Chapter 4 of the AML/CTF Rules (relating to an exemption from the identification of beneficial owners and politically exposed persons) is relevant to the following chapters of the Rules and the AML/CTF Act:

  • All designated services: Chapters 28 and 50
  • Table 1: Chapters 14, 35, 38, 39, 41, 45, 49, 66 and 67 and subsection 39(6) of the AML/CTF Act
  • Table 2: Chapter 33
  • Table 3: Chapter 14 and 52

Contents

AML/CTF Act - All designated services

Designated service Chapter of the AML/CTF Rules Description of chapter

All designated services

Chapter 28

Customer identification procedures under business restructures (explanatory statement)

Chapter 29

Records which are exempt from record-keeping (original explanatory statement and amendment explanatory statement)

Chapter 50

Pre-commencement customers in designated business groups (explanatory statement)

AML/CTF Act - Table 1: Financial services

Designated service Chapter of the AML/CTF Rules Description of chapter

All services listed in Table 1 in section 6 of the AML/CTF Act (financial services)

 

Chapter 36

Designated services provided within corporate structures (explanatory statement)

Chapter 66

Customer identification under the Financial Sector (Business Transfer and Group Restructure) Act 1999 (explanatory statement)

Items 2 and 3: Opening accounts/adding signatory

Chapter 35

Correspondent banking relationships (explanatory statement)

Items 6 and 7: Making a loan and transactions

Chapter 39

Premium funding loans for general insurance policies (explanatory statement)

Chapter 42

Commodity warehousing of grain (explanatory statement)

Chapter 45

Debt collectors (explanatory statement)

Chapter 48

Salary packaging administration services (explanatory statement)

Item 8: Factoring a receivable

Chapter 45

Debt collectors (explanatory statement)

Item 17: Provision of bill of exchange, promissory note or letter or credit by ADI

Chapter 14

Thresholds for customer identification procedures (original explanatory statement and the amendment explanatory statement)

Item 25: Issuing a travellers' cheque

Item 26: Cashing or redeeming a travellers' cheque

Chapter 14

Thresholds for customer identification procedures (original explanatory statement and the amendment explanatory statement)

Item 29 and 30: Electronic funds transfer instructions

Chapter 12

Use of a credit card (explanatory statement)

Items 31, 32 and 32A: Designated remittance arrangements and operating a network

Chapter 11

Compliance reporting (2012 explanatory statement2013 explanatory statement2014 explanatory statement2015 explanatory statement and 2016 explanatory statement)

Chapter 23

Exemption for lawyers and accountants (explanatory statement)

Chapter 69 Remittance sector registration exemption for casino licence holders (explanatory statement)

Items 31 and 32: Designated remittance arrangements

Chapter 11

Compliance reporting (explanatory statement)

Chapter 45

Debt collectors (explanatory statement)

Chapter 48

Salary packaging administration services (explanatory statement)

Chapter 73

Registered Plan Management Providers under the NDIS (explanatory statement)

Item 33: Acquiring or disposing of a security, derivative or foreign exchange contract on behalf of another

Item 35: Issuing or selling a security or derivative

Chapter 21

Issuing or selling a security or derivative (explanatory statement)

Issue of interests in a registered managed investment scheme (explanatory statement)

Chapter 22

Over-the-counter derivatives market relating to electricity, gas and renewable energy certificates (explanatory statement)

Item 33: Acquiring or disposing of a security, derivative or foreign exchange contract on behalf of another

Chapter 38

Sale of shares for charitable purposes (original explanatory statement the consequential amendment explanatory statement and the threshold amendment explanatory statement)

Chapter 49

Customer identification after commencement of a designated service (explanatory statement)

Chapter 49

International Uniform Give-Up Agreements (explanatory statement)

Item 33: Acquiring or disposing of a security, derivative or foreign exchange contract on behalf of another

Item 34: Acquiring or disposing of a bill of exchange, promissory note or a letter of credit on behalf of another

Item 46: Custodial or depository service

Item 51: Collecting or holding physical currency

Item 53: Delivering physical currency

Chapter 74

Licensed trustee companies (explanatory statement)

Item 35: Issuing or selling a security or derivative

Chapter 67

Warrants (explanatory statement)

Item 37: Issuing life or sinking fund policy

Item 38: Accepting a premium

Item 39: Making a payment

Chapter 43

Friendly society closed funds (explanatory statement)

Item 42(a): Accepting a contribution roll-over or transfer in superannuation fund

Item 43(a): Cashing interest in superannuation fund

Chapter 41

Cashing out of low balance superannuation accounts (explanatory statement)

Chapter 47

Risk-only life policy interests in a superannuation fund (explanatory statement)

Item 43: Cashing interest in superannuation or Approved Deposit Fund

Item 45: Cashing interest in Retirement Savings Account

Chapter 41

Departing Australia Superannuation Payments (explanatory statement)

Item 46: Custodial or depository service

Chapter 67

Warrants (explanatory statement)

Item 47: Safe deposit box

Chapter 32

Safe deposit boxes or similar facilities (explanatory statement)

Item 48: Guarantee a loan Item 49: Make payment as guarantor

Chapter 36

Designated services provided within corporate structures (explanatory statement)

Chapter 48

Salary packaging administration services (explanatory statement)

Item 48: Guarantee a loan

Chapter 48

Salary packaging administration services (explanatory statement)

Item 50: Exchanging currency

Chapter 14

Thresholds for customer identification procedures (original explanatory statement and the amendment explanatory statement)

Chapter 31

Traveller accommodation, foreign currency exchange transactions (explanatory statement)

Item 51: Collecting or holding physical currency

Item 53: Delivering physical currency

Chapter 45

Debt collectors (explanatory statement)

Chapter 53

Threshold transaction reporting for Australian Government Entities and Authorised Deposit-Taking Institutions (explanatory statement)

AML/CTF Act - Table 2: Bullion

Designated service Chapter of the AML/CTF Rules Description of chapter

All services listed in Table 2 in section 6 of the AML/CTF Act (bullion)

Chapter 33

Sales of bullion less than $5000 (explanatory statement)

Chapter 74

Licensed trustee companies (explanatory statement)

AML/CTF Act - Table 3: Gambling services

Designated service Chapter of the AML/CTF Rules Description of chapter

Items 1, 2 and 4: Receiving or accepting a bet, placing or making a bet on behalf of a person and paying out winnings in respect of a bet

Items 6 and 9: Games of chance or of mixed chance and skill

Items 7 and 8: The exchange of money and gaming chips or tokens

Items 5 and 10: Eligible gaming machine venues

Items 11 - 13: Opening an account, allowing a person to become a signatory and allowing a transaction to be conducted (online)

Chapter 10

Gambling services - casinos, on course bookmakers, Totalisator agency boards, gaming machines and online gaming services (explanatory statement)

Items 6 and 9: Games of chance or of mixed chance and skill

Items 5 and 10: Eligible gaming machine venues

Chapter 52

Licensed gaming machine operators - 15 machines or less (explanatory statement)

Item 14: Exchanging one currency for another

Chapter 14

Thresholds for customer identification procedures (original explanatory statement and the amendment explanatory statement)

A list of Exemptions (full and partial) by chapter can be found under the Exemptions category of the registered AML/CTF Rules page.

Last modified: 15/06/2017 15:49