6‑19 Person acting on behalf of customer6‑19 Person acting on behalf of customer

6‑19 Person acting on behalf of customer

For the purposes of paragraph 28(6)(b) of the Act, a reporting entity is taken to have established on reasonable grounds, for the purposes of paragraph 28(2)(c) of the Act, the identity of a person acting on behalf of the customer and their authority to do so if: (a) the customer is not an individual; and (b) the reporting entity has established on reasonable grounds the authority of the person to act on behalf of the customer; and (c) the reporting entity determines on reasonable grounds that any additional risk of money laundering, terrorism financing or proliferation financing associated with the person acting on behalf of the customer is low; and (d) has collected KYC information about the customer, relating to the person acting on behalf of the customer, that is appropriate to the ML/TF risk of the customer; and (e) there are no reasonable grounds for the reporting entity to doubt the adequacy or veracity of that KYC information.