Bearer negotiable instrument (BNI)
A non-cash form of money such as a cheque, bill of exchange, promissory note, traveller’s cheque, bearer bond, money order or postal order. BNIs often include the instruction 'pay to the bearer'. The bearer is the person in physical possession of the BNI.
AML/CTF Act 2006 Section 17
An individual who owns 25% or more of, or otherwise controls the business of, an entity (such as a trust, an association or a company). Ownership and control may be direct (such as through shares) or indirect (such as shares held by a third party on the individual’s behalf). ‘Control’ means having the ability to determine decisions about the entity’s financial and operating policies.
AML/CTF Rules 2007 chapter 1, part 1.2
A financial institution that receives an electronic funds transfer instruction and makes the transferred funds available to the recipient.
AML/CTF Act 2006 subsections 8(1), 8(2), 9(1), and 9(2)
Gold, silver, platinum or palladium authenticated to a specified fineness. It comes in the form of bars, ingots, plates, wafers or similar forms, or in coins. It is used for trading.
AML/CTF Act 2006 Section 5