6‑2 Customer is body corporate, partners6‑2 Customer is body corporate, partnership or unincorporated association

6‑2 Customer is body corporate, partnership or unincorporated association

(1) This section applies in relation to complying with the obligation imposed on a reporting entity under subsection 28(1) of the Act in relation to a customer, if: (a) the customer is a body corporate, a partnership or an unincorporated association; and (b) a designated service is proposed to be provided by the reporting entity to the customer at or through a permanent establishment of the reporting entity in Australia. (2) For the purposes of paragraph 28(6)(a) of the Act, in establishing on reasonable grounds the matter mentioned in paragraph 28(2)(a) (the identity of the customer), the reporting entity must collect at least the following KYC information: (a) the customer’s full name; (b) any business names of the customer; (c) any other names the customer is commonly known by; (d) a unique identifier for the customer (if any has been given); (e) the address of the principal place of business or operations of the customer; (f) the address of any registered office of the customer; (g) evidence of the customer’s existence; (h) information about the powers that bind and govern the customer; (i) the full name, and if applicable director identification number, of the individual, or each member of the group of individuals, with primary responsibility for the governance and executive decisions of the customer. (3) For the purposes of paragraph 28(6)(a) of the Act, in establishing on reasonable grounds the matter mentioned in paragraph 28(2)(d) of the Act (the identity of any beneficial owners of the customer), the reporting entity must collect at least KYC information about the ownership and control structure of the customer. (4) For the purposes of paragraph 28(6)(a) of the Act, in establishing on reasonable grounds the matter mentioned in paragraph 28(2)(f) of the Act (the nature and purpose of the business relationship or occasional transaction), the reporting entity must collect at least KYC information about the nature of the customer’s business or operations.