Draft AML/CTF Rules relating to the sale of shares for charitable purposes

Austrac has released for consultation draft AML/CTF Rules relating to the sale of shares for charitable purposes.


These draft AML/CTF Rules exempt from the customer identification provisions of the AML/CTF Act, those persons who provide an item 33 designated service involving the disposal of low-value parcels of shares, for the purpose of passing the proceeds to charitable organisations who are deductible gift recipients under the Income Tax Assessment Act 1997.


A public consultation period is open from 23 April 2009 to 7 May 2009.

 

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