Sch 1AML/CTF programs and business groups

Schedule 1—AML/CTF programs and business groups

 

1  Section 4

• A reporting entity is a financial institution, or other person, who provides designated services. (Designated services are listed in section 6.)

• A reporting entity is a person who provides designated services. (Designated services are listed in section 6.). Lead entities of certain business groups (known as reporting groups) are also reporting entities.

• A reporting entity must have and comply with an AML/CTF program.

• Reporting entities must have and comply with anti‑money laundering and counter‑terrorism financing programs.

3  Section 5

AML/CTF compliance officer for a reporting entity means the individual designated as the AML/CTF compliance officer for the reporting entity under subsection 26J(1).

AML/CTF policies of a reporting entity:

 (a) means the policies, procedures, systems and controls of the reporting entity developed under section 26F; and

 (b) if the policies, procedures, systems and controls of the reporting entity are updated—includes the policies, procedures, systems and controls as updated.

AML/CTF program: see section 26B.