Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2017 (130 of 2017)

Schedule 1   Amendments

Part 6   Revision of definitions

Anti-Money Laundering and Counter-Terrorism Financing Act 2006

79   Section 5 (definition of stored value card)

Repeal the definition, substitute:

stored value card means a thing (whether real or virtual):

(a) that stores monetary value in a form other than physical currency; or

(b) that gives access to monetary value stored in a form other than physical currency; or

(c) that is declared to be a stored value card by the AML/CTF Rules;

but does not include:

(d) a debit card or a credit card (whether real or virtual) linked to an account provided by a financial institution; or

(e) unless declared under paragraph (c):

(i) a thing that is intended to give access to monetary value in a debit card or credit card account provided by a financial institution; or

(ii) a gaming chip or token, or a betting instrument; or

(iii) a thing that stores, or gives access to, digital currency; or

(f) a thing that, under the AML/CTF Rules, is taken not to be a stored value card.