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

Schedule 9   Powers and definitions

Part 3   Definitions

Anti-Money Laundering and Counter-Terrorism Financing Act 2006

21   Section 5 (definition of credit card)

Repeal the definition, substitute:

credit card is a thing (whether real or virtual) that is one or more of the following:

(a) a thing of a kind commonly known as a credit card;

(b) a similar thing intended for use by a person in obtaining access to an account that is held by the person for the purpose of obtaining money, goods or services on credit;

(c) a thing of a kind that persons carrying on business commonly issue to their customers, or prospective customers, for use in obtaining goods or services from those persons on credit;

(d) a thing that may be used as a thing referred to in paragraph (a), (b) or (c).