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ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING ACT 2006 - SECT 90

Applicable customer identification procedures--customers other than individuals

Standard anti - money laundering and counter - terrorism financing program

  (1)   To avoid doubt, AML/CTF Rules made for the purposes of paragraph   84(3)(b) may require that Part B of a standard anti - money laundering and counter - terrorism financing program must provide that, if a customer of the reporting entity is:

  (a)   a company; or

  (b)   a trust; or

  (c)   a partnership; or

  (d)   a corporation sole; or

  (e)   a body politic;

one or more elements of the applicable customer identification procedure for the customer must involve the taking of steps specified in the AML/CTF Rules in relation to a person who is:

  (f)   associated with the customer; and

  (g)   specified in the AML/CTF Rules.

Note:   For specification by class, see subsection   13(3) of the Legislation Act 2003 .

Joint anti - money laundering and counter - terrorism financing program

  (2)   To avoid doubt, AML/CTF Rules made for the purposes of paragraph   85(3)(b) may require that Part B of a joint anti - money laundering and counter - terrorism financing program must provide that, if a customer of the reporting entity is:

  (a)   a company; or

  (b)   a trust; or

  (c)   a partnership; or

  (d)   a corporation sole; or

  (e)   a body politic;

one or more elements of the applicable customer identification procedure for the customer must involve the taking of steps specified in the AML/CTF Rules in relation to a person who is:

  (f)   associated with the customer; and

  (g)   specified in the AML/CTF Rules.

Note:   For specification by class, see subsection   13(3) of the Legislation Act 2003 .

Special anti - money laundering and counter - terrorism financing program

  (3)   To avoid doubt, AML/CTF Rules made for the purposes of paragraph   86(1)(c) may require that a special anti - money laundering and counter - terrorism financing program must provide that, if a customer of the reporting entity is:

  (a)   a company; or

  (b)   a trust; or

  (c)   a partnership; or

  (d)   a corporation sole; or

  (e)   a body politic;

one or more elements of the applicable customer identification procedure for the customer must involve the taking of steps specified in the AML/CTF Rules in relation to a person who is:

  (f)   associated with the customer; and

  (g)   specified in the AML/CTF Rules.

Note:   For specification by class, see subsection   13(3) of the Legislation Act 2003 .


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