AML/CTF Reliance Agreement

COMPANY 123

AML/CTF RELIANCE AGREEMENT

This Reliance Agreement establishes a reliance arrangement for the purposes of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006 (Cth) (Act) and the Anti-Money Laundering and Counter-Terrorism Financing Rules 2025 (Rules) which allow a reporting entity to rely on customer due diligence conducted by another regulated entity, instead of duplicating the same checks itself.

Parties

This Agreement is between:

Company123 Pty Ltd ACN 169 119 242 (Company123); and

the Professional Customer identified in Schedule 1.

Background

Company123 operates an online platform that enables customers to amongst other things:

make changes to company details;

assist with company reinstatement;

order trust deeds;

assist with changes to trusts;

establish self managed superannuation funds;

assist with changes to self managed superannuation funds;

assist with obtaining foreign resident capital gains withholding clearance certificates; and

generate a range of associated legal documentation, and

is a ‘reporting entity’ for purposes of the Act.

The Professional Customer:

provides the products and services identified in Schedule 1; and

is a ‘reporting entity’ for purposes of the Act, or in the alternative is regulated by one or more laws of a foreign country giving effect to the FATF Recommendations relating to Customer Due Diligence (CDD) and record-keeping.

The Professional Customer conducts CDD in relation to its own customers and is eligible to be relied upon by a reporting entity to conduct CDD on behalf of that reporting entity.

The parties wish to establish a documented Reliance Arrangement under which:

Company123 may rely on specified CDD conducted by the Professional Customer; and

the Professional Customer may order Designated Services as defined in section 6 of the Act from Company123 on behalf of its customers.

Definitions and Interpretation

Definitions

In this Agreement, unless the context otherwise requires:

“Act” means the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth).

“AML/CTF Laws” means, collectively, the Act, the Rules, and any other applicable laws, regulations, regulatory guides, enforceable undertakings, or directions administered by AUSTRAC relating to anti-money laundering, counter-terrorism financing, sanctions compliance, or proliferation financing.

“Agreement” means this AML/CTF Reliance Agreement, including all Schedules and any amendments made in accordance with it.

“Assessment” means any initial, ongoing or periodic assessment conducted by Company123 under this Agreement to determine the suitability of the Professional Customer for inclusion in, or continued participation in, the Reliance Arrangement.

“CDD” or “Customer Due Diligence” means the customer identification, verification, beneficial ownership identification, risk assessment, ongoing monitoring and related procedures required under the AML/CTF Laws.

“Customer” means any person or entity in respect of whom the Professional Customer conducts Customer Due Diligence in the course of providing its services.

“Designated Service” has the meaning given in section 6 of the Act.

“FATF” means the Financial Action Task Force, being the international intergovernmental standard setting body for anti money laundering, counterterrorism financing and counterproliferation financing.

“FATF Recommendations” means the recommendations, interpretive notes, guidance and standards issued by the Financial Action Task Force from time to time relating to anti-money laundering, counter-terrorism financing, counterproliferation financing, customer due diligence, beneficial ownership, record keeping, sanctions and related compliance measures.

“KYC Information” means all know your customer information obtained or held by the Professional Customer in connection with its CDD obligations, including identification data, Verification Records, beneficial ownership information, risk ratings, and supporting documentation.

“ML/TF Risk” means the risk of money laundering, terrorism financing or proliferation financing posed by a Customer, transaction, product, service, delivery channel or jurisdiction.

“Professional Customer” means the entity identified in Schedule 1.

“Reliance Arrangement” means the arrangement established under this Agreement under which Company123 relies on CDD conducted by the Professional Customer in accordance with the AML/CTF Laws and the Rules.

“Rules” means the Anti-Money Laundering and Counter-Terrorism Financing Rules 2025 (Cth), as amended or replaced from time to time.

“Senior Manager” means a person of appropriate seniority within Company123 who has authority to approve, oversee and determine AML/CTF compliance decisions in relation to this Agreement.

“Verification Records” means records evidencing the steps taken by the Professional Customer to verify a Customer’s identity, beneficial ownership, and related CDD information, including copies of documents, electronic verification results, screening outputs and audit trails.

Interpretation

In this Agreement, unless the context otherwise requires:

(a) headings are for convenience only and do not affect interpretation;

(b) words importing the singular include the plural and vice versa;

(d) references to a person include an individual, body corporate, partnership, trust, unincorporated association, or governmental authority;

(e) a reference to a party includes that party’s successors and permitted assigns;

(f) a reference to a statute or regulation includes amendments, consolidations, reenactments or replacements of it;

(g) a reference to “including” or “includes” is not limited and means “including without limitation”;

(h) where an obligation is imposed on a party, it is deemed to require that party to ensure its officers, employees, contractors and agents comply with that obligation;

(i) if there is inconsistency between the body of this Agreement and a Schedule, the body prevails to the extent of the inconsistency, unless expressly stated otherwise;

(j) monetary amounts are in Australian dollars unless stated otherwise.

Establishment of Reliance Arrangement

Company123 may rely on CDD conducted by the Professional Customer in accordance with this Agreement.

This Agreement does not transfer responsibility for compliance with AML/CTF Laws.

Company123 remains responsible for its own AML/CTF obligations.

Eligibility Requirements

The Professional Customer warrants that it:

is an AML/CTF reporting entity or equivalent foreign regulated entity;

maintains AML/CTF systems and controls;

conducts Customer identification and verification procedures;

maintains records required by AML/CTF Laws.

Professional Customer Obligations

The Professional Customer must:

maintain effective AML/CTF controls;

perform risk appropriate Customer Due Diligence;

identify beneficial owners and persons acting on behalf of Customers;

maintain appropriate records;

promptly notify Company123 of material compliance issues.

Access to KYC Information

Before Company123 provides a Designated Service, the Professional Customer must enable Company123 to obtain KYC Information required by AML/CTF Laws.

Upon request, the Professional Customer must provide requested KYC Information which may include:

customer identity information;

beneficial ownership information;

ML/TF Risk information;

Verification Records;

documents, data and information obtained during CDD.

Information must be provided immediately or as soon as practicable following a request from Company123.

Warranties

The Professional Customer warrants the accuracy, completeness and currency of information supplied under this Agreement and Schedule 1.

The Professional Customer further represents and warrants that:

Status and Authority Warranty

it is duly incorporated, established or organised and validly existing under the laws of its jurisdiction;

it has full power and authority to enter into and perform this Agreement;

this Agreement constitutes legal, valid and binding obligations enforceable against it;

all necessary corporate and internal approvals have been obtained;

all information supplied to Company123 regarding its legal status is true, accurate and complete.

AML/CTF Regulatory Status Warranty

it is a reporting entity under the AML/CTF Act or is otherwise regulated under laws implementing the FATF Recommendations concerning CDD and record keeping;

it is entitled to conduct the CDD activities contemplated by this Agreement;

it is not aware of any circumstance that would prevent Company123 from relying on its CDD under applicable AML/CTF laws;

it maintains all registrations, enrolments, licences and authorisations required to conduct its business.

AML/CTF Program Warranty

it maintains documented AML/CTF policies, procedures, systems and controls;

those policies, procedures, systems and controls are reasonably designed to comply with applicable AML/CTF laws;

those policies, procedures, systems and controls are actively implemented and enforced in practice;

those policies, procedures, systems and controls are reviewed and updated on a regular basis;

it maintains governance arrangements appropriate to the nature, size and complexity of its business.

Customer Due Diligence Warranty

it undertakes CDD before providing services where required by law;

it obtains and verifies Customer identification information required by law;

it identifies and verifies beneficial owners where required by law;

it identifies persons acting on behalf of Customers and verifies their authority where required by law;

it applies CDD measures proportionate to the ML/TF Risks presented by each Customer;

it undertakes enhanced CDD where required by law;

it conducts ongoing CDD where required by law.

Beneficial Ownership Warranty

it maintains procedures designed to identify beneficial owners;

it obtains and verifies beneficial ownership information where required by law;

it maintains records evidencing beneficial ownership verification.

Sanctions and PEP Screening Warranty

it maintains sanctions screening procedures appropriate to its business;

it maintains procedures to identify politically exposed persons where required by law;

it undertakes enhanced due diligence in relation to higher risk customers where appropriate;

it maintains records of sanctions and PEP screening activities.

Risk Assessment Warranty

it maintains risk based procedures for assessing ML/TF and proliferation financing risk;

it takes into account Customer, product, service, delivery channel and geographic risk factors;

it periodically reviews Customer risk assessments;

risk assessments are documented and retained.

Record Keeping Warranty

it maintains records required by applicable AML/CTF laws;

records are retained for all required retention periods;

records are capable of being retrieved promptly;

records are accurate, complete and up to date;

records are protected from unauthorised alteration or destruction.

Information Accuracy Warranty

all information provided to Company123 is true, accurate, complete and not misleading;

no information has been omitted which would make any information supplied misleading;

all supporting documents supplied are genuine and authentic to the best of its knowledge;

Company123 may rely upon all information supplied under this Agreement.

Independent Review Warranty

details supplied regarding any AML/CTF independent review are accurate;

all material findings have been disclosed to Company123;

all material remediation actions disclosed as completed have in fact been completed;

no undisclosed material deficiencies remain outstanding.

Regulatory Proceedings Warranty

Except as disclosed in Schedule 1:

it is not subject to any AUSTRAC investigation;

it is not subject to any material AML/CTF enforcement action;

it has not received any notice alleging material AML/CTF non compliance;

it is not aware of any circumstance likely to result in such action.

Adverse Media Warranty

Except as disclosed in Schedule 1:

it is not aware of adverse media allegations involving money laundering, terrorism financing, sanctions breaches, fraud or serious financial crime that may materially affect its suitability for reliance;

it has disclosed all such matters of which it is aware.

KYC Information Availability Warranty

all KYC Information required by Company123 can be made available upon request;

all Verification Records can be made available upon request;

such information can be provided immediately or as soon as practicable following a request;

there are no legal or practical impediments preventing provision of such information to Company123.

Continuing Disclosure Warranty

it will immediately notify Company123 upon becoming aware of:

any material AML/CTF breach;

any regulatory investigation;

any enforcement action;

any significant adverse media;

any sanctions issue;

any material change to ownership or control;

any material deterioration in its AML/CTF control environment;

any matter which may reasonably affect Company123's decision to continue relying on it.

Annual Certification

The Professional Customer certifies that each representation, warranty and undertaking contained in this Agreement remains true, complete, accurate and not misleading as at the date of certification.

Deemed Repetition Clause

Each representation and warranty in this Agreement is deemed to be repeated:

on the date of execution;

on each occasion on which the Professional Customer requests or procures the provision of a Designated Service from Company123;

on each annual certification date; and

whenever information is updated under this Agreement,

by reference to the facts and circumstances existing at that time.

Record Keeping

Each party must retain records required by AML/CTF Laws.

The Professional Customer must maintain records supporting all CDD relied upon by Company123.

Assessment of AML/CTF Compliance

Company123 may assess whether the Professional Customer maintains appropriate AML/CTF measures in deciding eligibility for reliance at any time.

Assessment methods may include:

questionnaires;

independent review reports;

adverse media searches;

regulatory searches;

compliance certifications.

Tailored Risk Assessment

Company123 may consider:

nature, size and complexity of business;

products and services;

delivery channels;

customer types;

jurisdictions of operation;

ownership and control structure.

Ongoing Monitoring and Reassessment

Company123 may reassess the Reliance Arrangement:

every two years; and

whenever a significant change occurs.

Significant changes may include changes in risk profiles, adverse regulatory findings, adverse media, ownership or control changes, material AML/CTF incidents, independent review findings, remediation failures and jurisdictional risk changes.

Notifications

The Professional Customer must notify Company123 promptly of:

regulatory investigations;

enforcement action;

material AML/CTF breaches;

changes to ownership or control;

changes affecting eligibility for reliance.

Senior Manager Approval

This Agreement and each Assessment is subject to approval by an authorised Senior Manager of Company123.

Audit Rights

Company123 may request supporting information, certifications, policies, procedures and evidence reasonably necessary to assess compliance.

Suspension of Reliance

Company123 may suspend reliance immediately where it reasonably believes reliance requirements are not met which may include non compliance with clause 15.

Termination

Company123 may suspend or terminate this Agreement immediately if:

its eligibility requirements cease to be satisfied;

material breach occurs;

AML/CTF risk becomes unacceptable to Company123.

Confidentiality

Information exchanged under this Agreement is confidential and may only be used for AML/CTF compliance purposes, subject to legal disclosure obligations.

Privacy

Each party must comply with applicable privacy and data protection laws when handling personal information.

Liability

Nothing in this Agreement limits obligations imposed by AML/CTF Laws.

The Professional Customer indemnifies Company123 for losses arising from materially inaccurate information provided under this Agreement, subject to applicable law.

General

Entire Agreement

This Agreement constitutes the entire agreement between the parties in relation to its subject matter and supersedes all prior representations, negotiations, understandings and agreements.

Variation

No variation of this Agreement is effective unless it is in writing and signed by both parties, and approved in writing by a Senior Manager of Company123.

Assignment

A party must not assign, transfer, novate or otherwise deal with its rights or obligations under this Agreement without the prior written consent of the other party. Company123 may assign or novate its rights or obligations to a related body corporate provided it gives prior written notice to the Professional Customer.

Notices

Any notice or communication under this Agreement must be in writing and delivered by hand, email, or pre-paid post to the addresses set out in Schedule 1 (or any updated address notified in writing). Notices are deemed received:

if delivered by hand, at the time of delivery;

if sent by email, at the time of transmission unless the sender receives a delivery failure notification; or

if posted, three business days after posting within Australia.

Counterparts

This Agreement may be executed in any number of counterparts, each of which constitutes an original and all of which together constitute one instrument.

Electronic Execution

The parties agree that this Agreement may be executed electronically, and that electronic signatures have the same legal effect as handwritten signatures to the fullest extent permitted by law.

Severability

If any provision of this Agreement is held to be invalid, illegal or unenforceable, that provision is to be construed, limited or read down to the minimum extent necessary to make it valid and enforceable. If that is not possible, the provision is severed to the extent of the invalidity, illegality or unenforceability. The validity, legality and enforceability of the remaining provisions of this Agreement are not affected.

Waiver

A failure or delay by a party to exercise a right or remedy does not constitute a waiver of that right or remedy. Any waiver must be in writing and signed by the waiving party.

Relationship of Parties

Nothing in this Agreement constitutes a partnership, joint venture, agency or fiduciary relationship between the parties.

Further Assurance

Each party must do all things and execute all documents reasonably necessary to give full effect to this Agreement.

Governing Law

This Agreement is governed by the laws of Victoria, Australia and the laws of the Commonwealth of Australia. The parties irrevocably submit to the exclusive jurisdiction of the courts of Victoria and the courts of the Commonwealth of Australia.

SCHEDULE 1 – PROFESSIONAL CUSTOMER PROFILE AND RELIANCE INFORMATION

Schedule 1

Below is a detailed AML/CTF Reliance Arrangement Questionnaire for completion by a Professional Customer to enable Company123 to assess whether the Professional Customer has appropriate AML/CTF systems, controls, record keeping arrangements and customer due diligence procedures for the purposes of entering into and maintaining a Reliance Arrangement under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and AML/CTF Rules 2025.

These questions are deliberately structured to allow Company123 to consider each of the factors expressly contemplated by the Rules, namely nature of business, size of business, complexity of business, products and services, delivery channels, customer types and jurisdictions of operation, before it is able to approve a Reliance Arrangement.

Professional Customer AML/CTF Questionnaire

Part A – Entity Information

A1. Entity Details

Legal name:
Trading name (if applicable):
ABN / ACN / ARBN:
Registered office:
Principal place of business:
Contact person for AML/CTF matters:
Position:
Email:
Telephone:

A2. Business Activities

Which of the following services do you provide? (tick all that apply)

☐ Accounting services

☐ Tax advisory services

☐ Bookkeeping services

☐ Legal services

☐ Conveyancing

☐ Corporate advisory services

☐ Trust establishment services

☐ Company formation services

☐ Nominee services

☐ Registered office services

☐ Business consulting

☐ Financial advisory services

☐ Real estate services

☐ Other (please specify)

Approximately what percentage of your business is related to each service category?
Do any of your services involve establishing or managing legal entities, trusts or other structures?

☐ Yes

☐ No

If yes, provide details.

How many employees do you have?

☐ Sole practitioner

☐ 2–10

☐ 11–50

☐ 51–200

☐ More than 200

Are you:

☐ Sole trader

☐ Partnership

☐ Company

☐ Trust

☐ Other

Are any owners, partners, directors or controllers:

(a) Politically exposed persons?

☐ Yes

☐ No

Located outside Australia?

☐ Yes

☐ No

☐ Yes

☐ No

If yes, provide details.

3.2 Group Structure

Are you part of a corporate group?

☐ Yes

☐ No

If yes, provide:

Parent entity name
Jurisdiction of incorporation

A3. Regulatory Status

Are you a reporting entity under the AML/CTF Act?

☐ Yes
☐ No

If yes, provide:

AUSTRAC enrolment number:
Date of enrolment:
Reporting entity type:

If no, are you regulated under foreign laws implementing FATF Recommendations relating to Customer Due Diligence and record-keeping?

☐ Yes
☐ No

If yes, provide details.

Part B – AML/CTF Governance Framework

B1. AML/CTF Program

Do you maintain a documented AML/CTF Program?

☐ Yes
☐ No

Date of most recent approval:
Date of last review:
Who approved the AML/CTF Program?
Attach:

AML/CTF policy summary
Governance framework summary

B2. AML/CTF Compliance Officer

Have you appointed an AML/CTF compliance officer?

☐ Yes
☐ No

Name:
Position:
Years of AML/CTF experience:

B3. Board and Senior Management Oversight

How does senior management oversee AML/CTF compliance?
How often are AML/CTF matters reported to management?

☐ Monthly
☐ Quarterly
☐ Annually
☐ Other

Describe management reporting arrangements.

B4. Personnel screening and due diligence

Confirm personnel screening and due diligence measures are conducted for staff performing AML/CTF-related functions.

☐ Yes

☐ No

Confirm relevant personnel receive AML/CTF training on commencement and on an ongoing basis to ensure they understand their AML/CTF obligations and are capable of identifying, assessing, and managing ML/TF Risks.

☐ Yes

☐ No

Part C – Customer Due Diligence Framework

C1. Customer Identification Procedures

Do you perform Customer Due Diligence before providing services?

☐ Always
☐ Usually
☐ Sometimes
☐ No

Do you identify:

Requirement	Yes	No
Individual customers	☐	☐
Companies	☐	☐
Trusts	☐	☐
Partnerships	☐	☐
Associations	☐	☐
Foreign entities	☐	☐

How are services primarily delivered?

Channel	Yes	No
Face-to-face	☐	☐
Telephone	☐	☐
Email	☐	☐
Online platform	☐	☐
Mobile application	☐	☐
Through intermediaries	☐	☐

Non Face to Face Services

What percentage of customers are onboarded without face to face interaction?
Describe controls used to manage non face to face onboarding risks.

C2. Beneficial Ownership

Do your procedures identify and verify beneficial owners?

☐ Yes
☐ No

If yes:

What ownership threshold is applied?
Describe your beneficial ownership verification process.

C3. Persons Acting on Behalf of Customers

Do you identify persons acting on behalf of customers?

☐ Yes
☐ No

Do you verify authority to act?

☐ Yes
☐ No

Explain the process.

C4. Customer Risk Assessment

Do you assign risk ratings to customers?

☐ Yes
☐ No

If yes, describe methodology.

Part D – Enhanced Customer Due Diligence

D1. High-Risk Customers

Do you perform enhanced due diligence for higher-risk customers?

☐ Yes
☐ No

If yes, describe:

Trigger events
Approval requirements
Additional information collected

D2. Politically Exposed Persons

Do you identify and assess politically exposed persons (PEPs)?

☐ Yes
☐ No

Do you apply enhanced due diligence to PEPs?

☐ Yes
☐ No

D3. Sanctions Screening

Do you screen customers against sanctions lists?

☐ Yes
☐ No

Identify sanctions lists used.

Part E – Ongoing Customer Due Diligence

E1. Monitoring

Do you conduct ongoing Customer Due Diligence?

☐ Yes
☐ No

Describe monitoring procedures.

E2. Trigger Events

Do you refresh customer information following:

Event	Yes	No
Change of ownership	☐	☐
Change of directors	☐	☐
Change of beneficial owners	☐	☐
Adverse media	☐	☐
Suspicious activity	☐	☐
Periodic review	☐	☐

Part F – Record Keeping

F1. Retention Periods

How long are customer records retained?

☐ Less than 7 years
☐ 7 years
☐ More than 7 years

F2. Records Maintained

Do you retain:

Record Type	Yes	No
Customer identification records	☐	☐
Verification Records	☐	☐
Beneficial ownership records	☐	☐
Risk assessments	☐	☐
Ongoing monitoring records	☐	☐
Internal AML decisions	☐	☐

F3. Accessibility

Can records be provided to Company123 upon request?

☐ Immediately
☐ Within 24 hours
☐ Within 3 business days
☐ Longer

Explain.

Part G – Technology and Systems

G1. CDD Systems

Describe systems used to:

Collect customer information
Verify identity
Verify director information
Verify beneficial ownership
Screen sanctions
Identify PEPs
Store records

G2. System Controls

Do systems include:

Control	Yes	No
Access controls	☐	☐
Audit logs	☐	☐
User permissions	☐	☐
Data encryption	☐	☐
Backup procedures	☐	☐

Part H – Independent Review

H1. Independent Evaluation

Has an independent evaluation of your AML/CTF program been conducted?

☐ Yes
☐ No

If yes:

Date:
Reviewer:
Outcome:
Were material deficiencies identified?

☐ Yes
☐ No

Have all remediation actions been completed?

☐ Yes
☐ No

Provide details.

Part I – Regulatory and Adverse Media Review

I1. Regulatory Action

During the last five years have you been subject to:

Matter	Yes	No
AUSTRAC investigation	☐	☐
Regulatory enforcement action	☐	☐
Civil penalty proceedings	☐	☐
Enforceable undertaking	☐	☐

Provide details.

I2. Adverse Media

Has the business been the subject of adverse media relating to:

Money laundering
Terrorism financing
Fraud
Sanctions breaches
Financial crime

☐ Yes
☐ No

Provide details if yes.

Part J – Jurisdictional Risk

J1. Countries of Operation

List all countries in which you:

Operate
Have offices
Have customers
Have service providers

J2. Higher Risk Jurisdictions

Do you provide services to customers connected with higher-risk jurisdictions?

☐ Yes
☐ No

If yes, explain controls applied.

Part K – Reliance Arrangement Information

K1. Services Provided to Company123 Customers

Describe the nature of customers for whom Company123 may rely upon your CDD.

K2. Information Available to Company123

Can you provide:

Information	Yes	No
Customer identity information	☐	☐
Beneficial ownership information	☐	☐
Director information	☐	☐
Shareholder information	☐	☐
Risk assessments	☐	☐
Source of funds information	☐	☐
Ongoing due diligence records	☐	☐

K3. Timeframes

Can requested information be provided:

☐ Immediately
☐ Within 24 hours
☐ Within 3 business days
☐ Other

Part L – Certifications

The Professional Customer certifies that:

The information provided is complete and accurate.
It maintains AML/CTF systems and controls reasonably designed to comply with applicable AML/CTF laws.
It performs Customer Due Diligence appropriate to the ML/TF Risks presented by its customers.
It maintains records required by applicable AML/CTF laws.
It will notify Company123 promptly of any material changes affecting the information provided in this questionnaire.
It will provide information and records reasonably requested by Company123 for the purposes of maintaining the Reliance Arrangement.

Signed for the Professional Customer

Name:

Position:

Date:

Signature:

EXECUTION

Executed as an agreement.

SIGNED for Company123:

Name:

Title:

Date:

SIGNED for the Professional Customer:

Name:

Title:

Date: