38Reliance on collection and verification of KYC information or other procedures—other circumstances

#### 38 Reliance on collection and verification of KYC information or other procedures—other circumstances If: (a) a reporting entity (the first entity) is providing, or proposes to provide, a designated service to a customer; and (b) another person has complied with paragraph 28(3)(c) or (d), or another procedure of a kind prescribed by the AML/CTF Rules, in respect of that customer; and (c) the first entity has obtained, from the other person, information about the identity of that customer that was obtained by the other person in the course of carrying out that procedure; and (d) the first entity has reasonable grounds to believe that it is appropriate to rely on that procedure in relation to that designated service having regard to the risk the first entity may reasonably face that the provision of that designated service might (whether inadvertently or otherwise) involve or facilitate money laundering, financing of terrorism or proliferation financing; and (e) the requirements prescribed by the AML/CTF Rules are satisfied; this Act (other than Part 10) has effect as if the first entity had complied with paragraph 28(3)(c) or (d) in respect of that customer and that designated service.