6‑30 Regular assessment of agreement or

6‑30 Regular assessment of agreement or arrangement

(1) For the purposes of paragraph 37B(1)(a) of the Act, a reporting entity carrying out an assessment of an agreement or arrangement must assess whether the agreement or arrangement continues to meet the requirements of section 6‑29 of this instrument. (2) For the purposes of paragraph 37B(1)(b) of the Act, a reporting entity must carry out assessments of an agreement or arrangement at intervals: (a) that take into account the type and level of risks of money laundering, financing of terrorism and proliferation financing that the reporting entity may reasonably face in providing its designated services; and (b) of not more than 2 years. (3) A reporting entity must also carry out an assessment if there is a significant change in circumstances that may affect whether the agreement or arrangement continues to meet the requirements of section 6‑29 of this instrument.