Financial institution

Section 5 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) defines financial institution to mean:

(a)  an ADI; or

(b)  a bank; or

(c)  a building society; or

(d)  a credit union; or

(e)  a person specified in the AML/CTF Rules.

The AML/CTF Rules made under paragraph (e) may specify different persons to be financial institutions for the purposes of different provisions of the Act.