Document ID: chunk:federal_register_of_legislation:C2025C00044:section:90
Version: federal_register_of_legislation:C2025C00044
Segment Type: section
Provision Reference: s 90
Character Range: 290477–292841

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.