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

Schedule 3   Regulating additional high-risk services

Part 2   Dealers in precious metals and stones

Anti-Money Laundering and Counter-Terrorism Financing Act 2006

3   Section 5 (definition of bullion)

Repeal the definition, substitute:

bullion means gold, silver, platinum or palladium that:

(a) is in the form of a bar, coin, ingot, plate, wafer or like form of mass; and

(b) bears a mark or characteristic generally accepted as identifying and guaranteeing the fineness and quality of the gold, silver, platinum or palladium; and

(c) is usually traded at a price that is determined by reference to the spot price of the gold, silver, platinum or palladium.