Commonwealth Numbered Regulations Commonwealth Numbered RegulationsCertificate of identity by foreign verifying officer
(1) A person resident outside Australia who is a signatory to an account with a financial body is also taken to be identified if a certificate of identity by the foreign verifying officer, or a foreign verifying officer, for that account is lodged with an identifying cash dealer and the certificate:
(a) sets out the name and residential address of the signatory; and
(b) states that the officer is satisfied:
(i) that the name is the name by which the signatory is known; and
(ii) that the signatory is a signatory to an account with the financial body; and
(c) bears the signatures of the officer and the signatory.
(2) A certificate of identity by a foreign verifying officer referred to in subsection (1) may relate to more than one signatory to the account for which it is lodged.
(3) Verification of the identity of a signatory under the alternative verification procedure specified in subsection (1) is worth 100 points.
Identification of person resident outside Australia
(4) A person resident outside Australia who is a signatory to an account is also taken to be identified if the following alternative verification procedure is used:
(a) the person produces, to an employee of a foreign bank who is authorised by the bank to open accounts with the bank, verification of the identity of the person using documents that are equivalent to documents worth a total of 100 points that are referred to in section 10;
(b) the employee:
(i) signs a statement that the employee has seen the documents; and
(ii) attaches a copy of each of the documents to the statement or records the pertinent details of the documents in the statement.
(5) Verification of the identity of a signatory under the alternative verification procedure specified in subsection (4) is worth 100 points.
Nomination by financial body of foreign verifying officer
(6) For the purposes of subsection (1), a financial body that carries on business in Australia, or in a State or Territory, may notify an identifying cash dealer of the nomination of a person resident overseas employed by it to be the foreign verifying officer, or a foreign verifying officer, of the financial body.
(7) If an identifying cash dealer is notified that a person has been nominated as a foreign 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 by means of:
(a) a verification procedure referred to in subparagraph 20A(1)(b)(ii) of the Act; or
(b) an identification reference for the person in accordance with section 21 of the Act; or
(c) the checks mentioned in section 10 of this instrument.
Revocation of nomination etc.
(8) If a financial body revokes a nomination or a foreign verifying officer ceases to be employed by a financial body, the financial body must notify the identifying cash dealer of that fact as soon as practicable.
Interpretation
(9) A reference to a foreign bank in subsection (4) is a reference to an entity that carries on banking business outside Australia and is engaged in a transaction with an identifying cash dealer, whether or not the entity has an authority under section 9 of the Banking Act 1959 .
(10) In this section:
"carrying on business in Australia, or in a State or Territory , " has the meaning given by section 21 of the Corporations Act 2001 .