Anti-Money Laundering and Countering Financing of Terrorism (Definitions) Regulations 2011

14 Inclusion: currency exchange transactions: $1,000 or more

(1)

This regulation applies to every transaction that—

(a)

occurs outside of a business relationship; and

(b)

involves currency exchange; and

(c)

is for an amount of $1,000 or more (whether the transaction is carried out in a single operation or several operations that appear to be linked).

(2)

Every transaction to which this regulation applies is declared to be an occasional transaction for the purposes of the Act.

Regulation 14: replaced, on 27 July 2016, by regulation 6 of the Anti-Money Laundering and Countering Financing of Terrorism (Definitions) Amendment Regulations 2016 (LI 2016/132).