• AML 16. AML 16. Non-Profit Organisations ("NPOs")

    • AML 16.1 AML 16.1 Responsibility for NPO compliance

      • AML 16.1.1

        An NPO's Governing Body is responsible for establishing, maintaining and monitoring the NPO's obligations under this chapter.

         

      • AML 16.1.2

        An NPO must maintain information on the following:

        (a) the purpose and objectives of its stated activities;
        (b) the identity of the persons who own, control or direct its activities, including the Governing Body and senior management;
        (c) the relevant controls that have been put in place to ensure that all funds are fully accounted for, and are spent in a manner that is consistent with the purpose and objectives of its stated activities; and
        (d) the relevant measures that it has taken to confirm the identity, credentials and good standing of beneficiaries and associated NPOs to ensure that they are not involved with terrorists or terrorist organisations or use its charitable funds to support.

         

    • AML 16.2 AML 16.2 Record Keeping

      • AML 16.2.1

        An NPO must maintain for a period of at least six years records of its obligations required under Rule 16.1.2, covering both domestic and international transactions, which are sufficiently detailed to verify that funds have been received and spent in a manner consistent with the purpose and objectives of the NPO.

         

    • AML 16.3 AML 16.3 Cooperation

      • AML 16.3.1

        An NPO must deal with the Regulator in an open and co-operative manner and keep the Regulator informed of significant events or anything else relating to the NPO of which the Regulator would be reasonable expect to be notified.

         

      • AML 16.3.2

        An NPO must, at the request of the Regulator:

        (a) give or procure the giving of specified information, Documents, files, tapes, computer data or other material in the NPO's possession or control to the Regulator;
        (b) make its Employees readily available for meetings with the Regulator;
        (c) give the Regulator access to any information, Documents, records, files, tapes, computer data or systems, which are within the NPO's possession or control and provide any facilities to the Regulator;
        (d) permit the Regulator to copy Documents or other material on the premises of the NPO at the NPO's expense;
        (e) provide any copies of those Documents or other material as requested by the Regulator; and
        (f) answer truthfully, fully and promptly, all questions which are put to it by the Regulator.