Commonwealth Numbered Regulations Commonwealth Numbered RegulationsNote: A number of expressions used in this instrument are defined in the Act, including the following:
(a) account;
(b) account information;
(c) ADI;
(d) cash dealer;
(e) international funds transfer instruction;
(f) public authority;
(g) signatory.
(1) In this instrument:
"Aboriginal person " means a person of the Aboriginal race of Australia.
"Act " means the Financial Transaction Reports Act 1988 .
"bank means an ADI that is permitted to use the expression bank" under section 66 of the Banking Act 1959 .
"building society means an ADI that is permitted to use the expression building society" under section 66 of the Banking Act 1959 .
"child " means a person who is under 18 years of age.
"community leader " , in relation to an Aboriginal or Torres Strait Islander community, means:
(a) a person who is recognised by the members of the community to be a community elder; or
(b) if there is an Aboriginal council that represents the community--an elected member of the council; or
(c) a member, or a member of the staff, of an Aboriginal Land Council established under Part III of the Aboriginal Land Rights (Northern Territory) Act 1976 .
"corporate treasurer " means an ADI that provides financial management services to a body corporate that is related to the corporate treasurer.
"credit union means an ADI that is permitted to use the expression credit union" under section 66 of the Banking Act 1959 .
(a) a financial institution; or
(b) a corporation that is a registrable corporation within the meaning of the Financial Sector (Collection of Data) Act 2001 .
"foreign driver licence " means a licence to drive a motor vehicle held by an international visitor and issued in the country in which the person is ordinarily resident.
"higher education provider " has the meaning given by subsection 16-1(1) of the Higher Education Support Act 2003.
"Human Services Department " means the Department administered by the Minister administering the Human Services (Centrelink) Act 1997 .
(a) a public company within the meaning of the Corporations Act 2001 ; or
(b) a body corporate that is a subsidiary of a public company within the meaning of any of sections 46 to 49 of the Corporations Act 2001 ; or
(c) a proprietary company within the meaning of the Corporations Act 2001 in which one or more shares is owned by a public company within the meaning of that Act; or
(d) a proprietary company within the meaning of the Corporations Act 2001 , or an incorporated association:
(i) that has traded for a continuous period of 2 or more years; or
(ii) that has maintained an account with a financial institution for a continuous period of 2 or more years; or
(e) a registered foreign company carrying on business in Australia within the meaning of the Corporations Act 2001 ; or
(f) a bank; or
(g) a building society; or
(h) a credit union; or
(i) a company that is a friendly society for the purposes of the Life Insurance Act 1995 ; or
(j) a body established or incorporated for a public purpose.
"international visitor " means a person who:
(a) is ordinarily resident in a foreign country; and
(b) is not a permanent resident of Australia.
"known customer " , in relation to a financial body at a particular time, means an individual who has been a signatory to an account with the financial body for not less than 12 months immediately before that time.
"principal executive officer " has the same meaning as in subsection 8A(8) of the Act.
"public employee " has the meaning given by section 6.
"public utility " means an authority or enterprise the primary business of which is to provide electricity, water, sewerage or gas to the public for domestic or business purposes.
(a) a municipal, city, town, district or shire council; or
(b) in the case of land in the Australian Capital Territory--the Australian Capital Territory.
"Sensis " means Sensis Pty Ltd (ACN 007 423 912).
"Social Services Department " means the Department administered by the Minister administering the Student Assistance Act 1973 .
"superannuation fund " has the same meaning as in subsection 10(1) of the Superannuation Industry (Supervision) Act 1993 .
"technical and further education institution " has the same meaning as in section 3 of the Student Assistance Act 1973 .
"Telstra " has the same meaning as in section 3 of the Telstra Corporation Act 1991 .
"tertiary education institution " means a higher education provider or a technical and further education institution.
"Torres Strait Islander " means a descendant of an Indigenous inhabitant of the Torres Strait Islands.
"verified signatory " means a signatory who has been identified by means of:
(a) a verification procedure referred to in subparagraph 20A(1)(b)(ii) of the Act; or
(b) an identification reference in accordance with section 21 of the Act; or
(c) the checks mentioned in section 10 of this instrument.
(2) If the rules of a superannuation fund contain a provision the purpose of which is to avoid a breach of a rule of law relating to perpetuities, the provision does not prevent the fund from being treated as an indefinitely continuing fund for the purposes of the definition of superannuation fund in subsection (1).
(3) For the purposes of this instrument, the question whether a body corporate is related to another body corporate is to be determined in the same way as that question is determined for the purposes of the Corporations Act 2001 .