Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024 (110 of 2024)

Schedule 10   Exemptions

Anti-Money Laundering and Counter-Terrorism Financing Act 2006

11   After Part 17A

Insert:

Part 17B - Exemptions

233H Simplified outline

The following is a simplified outline of this Part:

• This Part provides that certain provisions of this Act do not apply to certain persons, or in certain circumstances.

233J Exemption - Reserve Bank of Australia

The following provisions of this Act do not apply to the Reserve Bank of Australia:

(a) Part 1A;

(b) Divisions 2 to 7 (other than section 39) of Part 2;

(c) Divisions 3 to 6 (other than section 49) of Part 3;

(d) Parts 4, 5 and 8;

(e) Divisions 3 to 6 of Part 10;

(f) section 236B.

233K Exemption - operating no more than 15 gaming machines

Scope

(1) This section applies to a reporting entity if:

(a) the reporting entity and any related entity (within the meaning of the Corporations Act 2001) that is a reporting entity have a total entitlement under licences issued by one or more States or Territories to operate no more than 15 gaming machines; and

(b) the reporting entity and any related entity (within the meaning of the Corporations Act 2001) that is a reporting entity only provide one or more designated services covered by any of the following:

(i) item 5 of table 3 in section 6;

(ii) item 6 of table 3 in section 6;

(iii) item 8 of table 3 in section 6;

(iv) item 9 of table 3 in section 6;

(v) item 10 of table 3 in section 6; and

(c) the provision of any designated services referred to in subparagraph (b)(ii), (iii) or (iv) involves a game played on a gaming machine.

Exemption

(2) The following provisions of the Act do not apply to the reporting entity:

(a) Part 1A;

(b) Divisions 2 to 6 of Part 2;

(c) sections 37 and 38 of Division 7 of Part 2;

(d) section 43;

(e) section 45;

(f) Division 5 of Part 3;

(g) Part 5;

(h) Division 1 of Part 10;

(i) sections 109 and 110;

(j) Divisions 3 to 7 of Part 10;

(k) section 236B.