Anti-Money Laundering and Counter-Terrorism Financing (Transitional Provisions and Consequential Amendments) Act 2006 (170 of 2006)

Schedule 1   Amendments

Part 1   Amendments

Financial Transaction Reports Act 1988

51   Subsection 3(1)

Insert:

designated service transaction : if:

(a) a reporting entity provides, or commences to provide, a designated service to a customer (within the meaning of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006); and

(b) the provision of the service involves a transaction;

the transaction is a designated service transaction .