Document ID: chunk:federal_register_of_legislation:C2024A00110:clause:1_26g
Version: federal_register_of_legislation:C2024A00110
Segment Type: clause
Provision Reference: sch 1 cl 26G
Character Range: 35221–35878

26G  Reporting entities must comply with AML/CTF policies
 (1) A reporting entity must comply with the AML/CTF policies of the reporting entity.
 (2) If:
 (a) a reporting entity is a member of a reporting group; and
 (b) the reporting entity is not the lead entity of the reporting group;
the reporting entity must also comply with the AML/CTF policies of the lead entity of the reporting group that apply to the reporting entity.
Note: The lead entity of the reporting group must comply with its own AML/CTF policies under subsection (1).
 (3) Subsections (1) and (2) are civil penalty provisions.

Division 4—AML/CTF responsibilities of governing bodies