AML/CTF Class Exemptions - Professional Services and Related Matters
Summary
The Australian Department of Home Affairs issued amendments to the Anti-Money Laundering and Counter-Terrorism Financing (Class Exemptions and Other Matters) Rules 2007, consolidating amendments to professional services exemptions under subsection 6(5C) of the AML/CTF Act. The instrument updates exemptions from initial customer due diligence for ATM withdrawals, virtual asset wallet transfers, and gift card transactions.
What changed
This legislative instrument consolidates amendments to the AML/CTF Class Exemptions Rules, with substantive provisions originally commencing 12 June 2007 and 12 December 2007. Chapter 2 addresses circumstances covered by subsection 6(5C) of the AML/CTF Act relating to professional services exemptions. Chapters 3-6 establish exemptions from initial customer due diligence for specific transactions including ATM withdrawals, transfers to self-hosted virtual asset wallets, and gift card transactions, with corresponding repeal provisions for prior versions.
Compliance teams at reporting entities should review the updated exemption thresholds and conditions in Chapters 3-6 to determine whether existing customer due diligence procedures remain appropriate. Legal practitioners and financial advisers relying on professional services exemptions should confirm their practices align with the current subsection 6(5C) interpretation. The instrument was registered as F2026C00269 and is administered by the Department of Home Affairs under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
What to do next
- Review updated professional services exemptions under Chapter 2 for subsection 6(5C) compliance
- Verify ATM withdrawal exemption thresholds in Chapter 3
- Confirm virtual asset wallet transfer exemption applicability in Chapter 4
Archived snapshot
Mar 31, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
- Interactions
Anti-Money Laundering and Counter-Terrorism Financing (Class Exemptions and Other Matters) Rules 2007 Citation change
In force Administered by
- Department of Home Affairs
This item is authorised by the following title:
- Anti-Money Laundering and Counter-Terrorism Financing Act 2006 Latest version View as made version F2026C00269 C77 31 March 2026 This instrument commences as follows: (a) on 12 June 2007 - Schedule 1; (b) on 12 December 2007 - Schedule 2.
View document Legislative instrument Filter active Table of contents
- 1 Name of Instrument [see Note 1]
- CHAPTER 1
- Part 1.1 Introduction
- Part 1.2 Key terms and concepts
- Chapter 2 Matters relating to professional services
- 2.1 Circumstances covered by subsection 6(5C) of the AML/CTF Act
- Chapter 3 Exemption from initial customer due diligence—withdrawals from automatic teller machines
- 3.1 Exemption
- 3.2 Repeal
- Chapter 4 Exemption from initial customer due diligence—transfer of value to self-hosted virtual asset wallet
- 4.1 Exemption
- 4.2 Repeal
- Chapter 5 Exemption from initial customer due diligence—transfer of value using gift card issued by reporting entity
- 5.1 Exemption
- 5.2 Repeal
- Chapter 6 Gift card issued by person not providing designated services
- 6.1 Person who is not an ordering institution
- 6.2 Person who is not a beneficiary institution
- 6.3 Repeal
- Chapter 7 Services provided by barristers to Australian government bodies
- 7.1 AML/CTF Act does not apply to services in certain circumstances
- 7.2 Repeal
- Chapter 8 Clearing and settlement facilities
- 8.1 AML/CTF Act does not apply to incidental services provided by operator of facility
- 8.2 Repeal
- Chapter 9 Legal assistance
- 9.1 AML/CTF Act does not apply to incidental services provided by community legal centre or legal aid
- 9.2 AML/CTF Act does not apply to services provided by duty lawyer etc.
- 9.3 Repeal
- CHAPTER 21 Issuing or selling a security or derivative
- CHAPTER 22 Exemption of certain types of transactions relating to the over-the-counter derivatives market
- CHAPTER 31 Exemption of certain types of transactions relating to currency exchange transactions
- CHAPTER 39 Exemption from initial customer due diligence - premium funding loans for a general insurance policy
- CHAPTER 42 Commodity warehousing of grain
- CHAPTER 43 Friendly Society closed funds
- CHAPTER 45 Debt Collection
- CHAPTER 47 Risk-only life policy interests in a superannuation fund
- CHAPTER 48 Exemption of salary packaging administration services from the AML/CTF Act
- CHAPTER 49 International Uniform Give-Up Agreements
- CHAPTER 67 Warrants
- Notes to the STYLEREF Title Anti-Money Laundering and Counter-Terrorism Financing (Class Exemptions and Other Matters) Rules 2007
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