ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING ACT 2006 - SECT 33 Special circumstances that justify carrying out the applicable customer identification procedure after the commencement of the provision of a designated service

ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING ACT 2006 - SECT 33

    For the purposes of this Act, if a reporting entity commences to provide a designated service to a customer, there are taken to be special circumstances that justify the carrying out of the applicable customer identification procedure in respect of the customer after the commencement of the provision of the service if, and only if:

  (a)   the service is specified in the AML/CTF Rules; and

  (b)   such other conditions (if any) as are set out in the AML/CTF Rules are satisfied.

Note:   For specification by class, see subsection   13(3) of the Legislation Act 2003 .