Commonwealth Consolidated Acts Commonwealth Consolidated ActsWhen section applies
(1) This section applies if an application has been made under section 75B for registration of a person.
When AUSTRAC CEO must register a person
(2) The AUSTRAC CEO must decide to register the person in accordance with the application if the AUSTRAC CEO is satisfied that it is appropriate to do so, having regard to:
(a) whether registering the person would involve a significant money laundering, financing of terrorism, people smuggling or other serious crime risk; and
(b) such other matters (if any) as are specified in the AML/CTF Rules under this paragraph.
Note: A decision not to register the person is reviewable (see Part 17A).
Matters that may be specified in the AML/CTF Rules
(3) Without limiting the matters that the AML/CTF Rules may specify under paragraph (2)(b), the matters may relate to the following:
(a) offences of which the applicant for registration, a person proposed to be entered on the Remittance Sector Register as a remittance affiliate of the applicant, or any other person, has been charged or convicted under the law of the Commonwealth, a State or Territory or a foreign country;
(b) the compliance or non - compliance of the applicant, a person proposed to be entered on the Remittance Sector Register as a remittance affiliate of the applicant, or any other person, with this Act or any other law;
(c) the legal and beneficial ownership and control of the applicant, a person proposed to be entered on the Remittance Sector Register as a remittance affiliate of the applicant, or any other person;
(d) the kinds of designated services to be provided by the applicant or by a person proposed to be entered on the Remittance Sector Register as a remittance affiliate of the applicant;
(e) the consent of a person proposed to be entered on the Remittance Sector Register as a remittance affiliate of the applicant.
Notice of decision to register
(4) The AUSTRAC CEO must, as soon as practicable after deciding to register a person, give a written notice to:
(a) the applicant for registration; and
(b) if the application was made by a registered remittance network provider for another person to be registered as a remittance affiliate of the registered remittance network provider--the other person.
Contents of notice of decision to register
(5) A notice under subsection (4) in relation to a decision to register a person must specify:
(a) whether the person is registered as:
(i) a remittance network provider; or
(ii) an independent remittance dealer; or
(iii) a remittance affiliate of a registered remittance network provider; and
(b) the conditions (if any) to which the registration is subject (see section 75E); and
(c) the date on which the registration takes effect.