What documents need to be submitted to the Reporting Entity for Client Due Diligence,if the client is an unincorporated association or a body of individuals?
Updated
Following document need to be verified and maintained when the client is an body of individuals : Where the client is an unincorporated association or a body of individuals, it shall submit to the reporting entity the certified copies of the following documents or the equivalent e-documents thereof, namely:
(i) resolution of the managing body of such association or body of individuals;
(ii) Permanent account number or Form No.60 of the unincorporated association or a body of individuals;
(iii) power of attorney granted to him to transact on its behalf; and
(iv) such documents as are required for an individual under sub-rule (4) relating to beneficial owner, managers, officers or employees, as the case may be, holding an attorney to transact on its behalf;
(v) such information as may be required by the reporting entity to collectively establish the existence of such association or body of individuals.
