5Verification: public authorities and incorporated bodies

5 Verification: public authorities and incorporated bodies

(1) A public authority or incorporated body may notify an identifying cash dealer of the nomination of a person to be the verifying officer or a verifying officer of the authority or body in respect of an account, or of some or all accounts, of the authority or body with the identifying cash dealer. (2) The nomination must be signed by the principal executive officer or by the person responsible for administration of the account. (3) If an identifying cash dealer is notified that a person has been nominated as a verifying officer and the nominated person is not a verified signatory, the identifying cash dealer must, as soon as practicable, seek to identify the person (whether or not the person is, or is to be, a signatory to a relevant account) by means of: (aa) a verification procedure referred to in subparagraph 20A(1)(b)(ii) of the Act; or (a) an identification reference for the person in accordance with section 21 of the Act; or (b) the checks mentioned in regulation 4. (4) If a public authority or incorporated body revokes a nomination or a verifying officer ceases to be employed by a public authority or incorporated body, it must notify the identifying cash dealer of that fact as soon as practicable. (5) A signatory of an account of a public authority or incorporated body is also taken to be identified if a certificate of identity by the verifying officer, or a verifying officer, for that account is lodged with an identifying cash dealer and the certificate: (a) says that the officer is satisfied that the signatory is authorised by the authority or body to be a signatory to that account; and (b) bears the signatures of the officer and the signatory. (5A) A certificate of identity by a verifying officer may relate to more than one signatory of the account for which it is lodged. (6) Verification of the identity of a signatory under subregulation (5) is worth 100 points.