ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING ACT 2006 - SECT 67 Exemptions

ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING ACT 2006 - SECT 67

Approved third - party bill payment systems

  (1)   This Part does not apply to an instruction that arises from the use of an approved third - party bill payment system.

Debit cards and credit cards

  (2)   This Part does not apply to an instruction that arises from the use of a debit card or a credit card if:

  (a)   the use does not involve obtaining a cash advance; and

  (b)   the number of the card is included in the instruction; and

  (c)   the card is not of a kind specified in the AML/CTF Rules; and

  (d)   the use does not take place in circumstances of a kind specified in the AML/CTF Rules.

  (2A)   This Part does not apply to an instruction that arises from the use of a debit card or a credit card at a branch of a financial institution if:

  (a)   the number of the card is included in the instruction; and

  (b)   the card is not of a kind specified in the AML/CTF Rules; and

  (c)   the use does not take place in circumstances of a kind specified in the AML/CTF Rules.

Cheques

  (3)   This Part does not apply to an instruction given by way of a cheque unless the cheque is of a kind specified in the AML/CTF Rules.

ATMs

  (4)   This Part does not apply to an instruction given by the use of an ATM if:

  (a)   the ATM is not of a kind specified in the AML/CTF Rules; and

  (b)   the use does not take place in circumstances of a kind specified in the AML/CTF Rules.

Merchant terminals

  (4A)   This Part does not apply to an instruction given by way of the operation of a merchant terminal if:

  (a)   the operation is authorised by a financial institution; and

  (b)   the merchant terminal is not of a kind specified in the AML/CTF Rules; and

  (c)   the operation does not take place in circumstances of a kind specified in the AML/CTF Rules.

Inter - financial institution transfers

  (5)   This Part does not apply to a transfer of money between 2 financial institutions if each financial institution acts on its own behalf.

Prescribed instructions

  (6)   This Part does not apply to an instruction of a kind prescribed by the AML/CTF Rules.