Document ID: chunk:federal_register_of_legislation:F2024C01198:body:0:p37
Version: federal_register_of_legislation:F2024C01198
Segment Type: other
Provision Reference: 
Character Range: 101894–104975

or unincorporated association, that:

        (1) the association exists; and

        (2) the names of any members of the governing committee (howsoever described) of the association have been provided.

Collection and verification of information

    4.6.3 An AML/CTF program must include a procedure for the reporting entity to collect, at a minimum, the following KYC information about an incorporated or unincorporated association:

        (1) if the customer notifies the reporting entity that it is an incorporated association:

            (a) the full name of the association;

            (b) the full address of the association's principal place of administration or registered office (if any) or the residential address of the association's public officer or (if there is no such person) the association's president, secretary or treasurer;

            (c) any unique identifying number issued to the association upon its incorporation by the State, Territory or overseas body responsible for the incorporation of the association; and

            (d) the full name of the chairman, secretary and treasurer or equivalent officer in each case of the association; and

        (2) if the person notifies the reporting entity that he or she is a customer in his or her capacity as a member of an unincorporated association:

            (a) the full name of the association;

            (b) the full address of the association's principal place of administration (if any);

            (c) the full name of the chairman, secretary and treasurer or equivalent officer in each case of the association; and

            (d) in respect of the member – the information required to be collected about an individual under the applicable customer identification procedure with respect to individuals set out in an AML/CTF program.

    4.6.4 An AML/CTF program must include appropriate risk‑based systems and controls for the reporting entity to determine whether, in addition to the KYC information referred to in paragraph 4.6.3, any other KYC information will be collected in respect of an association.

    4.6.5 An AML/CTF program must include a procedure for the reporting entity to at a minimum:

        (1) if the customer is an incorporated association ‑ verify from information provided by ASIC or by the State, Territory or overseas body responsible for the incorporation of the association or from the rules or constitution of the association or from a certified copy or certified extract of the rules or constitution of the association or from reliable and independent documents relating to the association or from reliable and independent electronic data:

            (a) the full name of the incorporated association; and

            (b) any unique identifying number issued to the incorporated association upon its incorporation; and

        (2) if the customer notifies the reporting entity that he or she is a customer in his or her capacity as a member of an unincorporated association:

            (a) verify the full name (if any)