Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024 (110 of 2024)
Schedule 1 AML/CTF programs and business groups
Anti-Money Laundering and Counter-Terrorism Financing Act 2006
1 Section 4
Omit:
• A reporting entity is a financial institution, or other person, who provides designated services. (Designated services are listed in section 6.)
substitute:
• A reporting entity is a person who provides designated services. (Designated services are listed in section 6.). Lead entities of certain business groups (known as reporting groups) are also reporting entities.
• A reporting entity must have and comply with an AML/CTF program.
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