Austrac has issued draft AML/CTF Rules to define the term 'exempt legal practitioner service' under section 5 of the AML/CTF Act. It will apply to legal practitioners who provide designated services relating to 'a custodial or depository service' (item 46) and 'a safe deposit box or similar facility' (item 47), when undertaken in the ordinary course of legal practice, but do not apply when those designated services are provided by a legal practitioner who supplies financial services under the Act.

A public consultation period is open from 22 May 2009 to 5 June 2009.