Regulation 6

identify and verify the identity of the customer by obtaining the following information from reliable and independent sources:

the name of the customer;

the legal form of the customer;

proof of the customer’s existence;

the place under which the customer is incorporated, registered or otherwise constituted;

the documents that constitute, regulate and bind the customer, being the following, or their equivalent:

in the case of a body corporate, the constitution, or the memorandum and articles of association, of the body corporate;

in the case of a partnership or limited partnership, the partnership deed or agreement;

in the case of an express trust, the trust deed of the trust;

in the case of a society or an unincorporated association, the rules of the society or unincorporated association;

in the case of any other entity or legal arrangement, the instrument or document that constitutes or establishes the entity or legal arrangement;

if the customer is incorporated or registered in Singapore, its unique entity number;

if the customer is incorporated or registered outside Singapore, its foreign incorporation or registration number;

if the customer is an entity, the identity of each individual having a senior management position in the entity;

the address of the customer’s registered office or principal place of business;

subject to paragraph (3), identify each beneficial owner of the customer and take reasonable measures to verify the identity of each beneficial owner by obtaining the following information from reliable and independent sources:

if the customer is an entity —

the identifying information of each individual (if any) who ultimately has a controlling ownership interest in the customer, according to the law and instrument under which the customer is constituted;

if it is doubtful whether all or any of the individuals who ultimately have a controlling interest in the customer are its beneficial owners, or where no individual exerts control through ownership interests, the identifying information of each individual (if any) exercising control of the customer through other means; or

if no individual is identified under sub‑paragraphs (A) and (B), the identifying information of each individual having a senior management position in the customer;

if the customer is a legal arrangement that is a trust, the identities of —

the settlor;

each trustee;

the protector, if any;

each beneficiary or class of beneficiaries; and

any other individual exercising ultimate effective control over the trust; (iii)if the customer is a legal arrangement that is not a trust, the identity of each person holding a position equivalent or similar to any position in sub‑paragraph (ii);

ascertain whether any individual is acting on the customer’s behalf in relation to and for the purpose of the designated transaction, and if so perform the customer due diligence measures specified in regulation 5 on that individual;

ascertain whether the customer is acting on behalf of any other person, and if so —

if that other person is an individual, identify and take reasonable measures to verify the identity of that individual, using reliable and independent sources;

if that other person is an entity or a legal arrangement, perform the customer due diligence measures specified in sub‑paragraphs (a), (b), (e) and (f) on that entity or legal arrangement as if the references to the customer in those sub‑paragraphs were references to the entity or legal arrangement; and

obtain appropriate documentary evidence to verify that the customer is authorised to act on behalf of that other person;

understand the nature of the customer’s business; (f)understand the ownership and control structure of the customer.

an entity listed on the Singapore Exchange;

a financial institution that is subject to and supervised for compliance with requirements for the prevention of money laundering and the financing of terrorism by the Monetary Authority of Singapore, as listed in Appendix 1 of the direction known as MAS Notice 626 issued by the Monetary Authority of Singapore; or

a financial institution incorporated or established outside Singapore that is subject to and supervised for compliance with requirements for the prevention of money laundering and the financing of terrorism, consistent with standards set by the FATF.

has doubts about the veracity of the information obtained from performing any customer due diligence measures; or

suspects that the entity may be connected with, or a business relationship with the entity relates to, money laundering, terrorism financing or proliferation financing.