2‑4 Conditions for discharge of obligati2‑4 Conditions for discharge of obligations by members of a reporting group that are not reporting entities

2‑4 Conditions for discharge of obligations by members of a reporting group that are not reporting entities

(1) For the purposes of paragraph 236B(5)(c) of the Act, this section specifies conditions that apply when the member of the reporting group (the discharging member) that is to discharge an obligation of another member of the reporting group is not itself a reporting entity. (2) The discharging member must have undertaken due diligence, in relation to persons who are employed or otherwise engaged and who perform functions relevant to discharging the obligation, that satisfies the requirements of the AML/CTF policies of the reporting entity included in those policies for the purposes of paragraph 26F(4)(d) of the Act. (3) The discharging member must have provided training to those persons that satisfies the requirements of the AML/CTF policies of the reporting entity included in those policies for the purposes of paragraph 26F(4)(e) of the Act.