Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2007 (52 of 2007)

Schedule 1   Amendments

Part 1   Amendments

Anti-Money Laundering and Counter-Terrorism Financing Act 2006

17   After subsection 67(4)

Insert:

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.