Document ID: chunk:federal_register_of_legislation:C2025C00044:section:37
Version: federal_register_of_legislation:C2025C00044
Segment Type: section
Provision Reference: s 37
Character Range: 169769–171068

37  Applicable customer identification procedures may be carried out by an agent of a reporting entity
 (1) The principles of agency apply in relation to the carrying out by a reporting entity of an applicable customer identification procedure or an identity verification procedure.
Note: The reporting entity (and not its agent) will be liable to civil penalties for contraventions of this Part for providing designated services to its customers without carrying out the applicable customer identification procedures in respect of its customers.
 (2) For example, a reporting entity may authorise another person to be its agent for the purposes of carrying out applicable customer identification procedures or identity verification procedures on the reporting entity's behalf.
 (3) To avoid doubt, if a reporting entity provides a designated service to a customer through an agent of the reporting entity, the reporting entity may authorise:
 (a) that agent; or
 (b) any other person;
to be its agent for the purposes of carrying out the applicable customer identification procedure or an identity verification procedure in respect of the customer on the reporting entity's behalf.
 (4) This section does not otherwise limit the operation of the principles of agency for the purposes of this Act.