General Authority for Investment and Free Zones

Size: px
Start display at page:

Download "General Authority for Investment and Free Zones"

Transcription

1 General Authority for Investment and Free Zones Chairman of the General Authority for Investment and Free Zones Decree no for 2003 Regarding The Regulations to Be Followed by Lease Finance Companies and Companies Operating in the Field of Factoring The Chairman of the General Authority for Investment and Free Zones After having perused The constitutions; The Trade Law; Law no. 159 for 1981 promulgating the Joint-Stock Companies Law, and its Executive Regulations; Law no. 95 for 1992 promulgating the Capital Market Authority Law, and its Executive Regulations; Law no. 95 for 1995 regarding Lease Finance Companies, its Amendments, and Executive Regulations; Law no. 8 for 1997 promulgating the Investment Guarantees and Incentives Law, its Executive Regulations and their Amendments; Law no. 80 for 2002 promulgating the Anti-Money Laundering Law and its Executive Regulations; andthe Legal Consultant and Chairman of the Investment Operations Commission?s Memo

2 Decided Article (1) Companies operating in the field of lease finance shall comply with the following regulations, in accordance with the Anti-Money Laundering Law and its Executive Regulations:- Lease finance companies shall establish the systems required to obtain identification and legal status data of their registered owners (leasees) and the beneficiaries of lease contracts, whether legal or natural persons. In so doing, such companies shall verify such data through legal identification documents, in a manner that satisfies the Know Your Customer (KYC) principle, when entering into lease contracts and shall record the referred to identification data. Particular attention shall be paid to the following:- 1. Lease finance companies shall not enter into any contracts with anonymous persons or persons using fictitious names. 2. Lease finance companies shall enter into lease finance contracts on the forms prepared by the General Authority for Investment and Free Zones, provided that such companies verify the information provided therein, approve it and attach to the contract the detailed registered owner?s data ( whether natural or legal person according to the data form attached to every contract).

3 3. Lease finance companies shall examine original registered owner?s identification documents and shall keep a copy thereof for a period of five years from the expiry date of the contract. 4. Lease companies shall update information and documents relating to registered owners and leasees periodically if the lease contract period is five years or more or when there appears a need for that. 5. Lease companies shall record all data relating to the leased assets, their source of finance, the buying entity or the funding entity and the leasing one. 6. Lease companies shall prepare special registers for recording all the lease contracts they conduct. 7. Lease companies shall open separate accounts for each registered owner (leasee) showing the balance of the account and the movements on the account, and shall keep a copy of all payment documents for a period of five years after the expiry of the contract. 8. In case a lease company resigns its lease finance contract to another lease company, all the data related to the new lease company shall be reported to the Authority on the form prepared for that purpose. 9. In case a leasee resigns his contract to another leasee with the approval of the company, the authority shall be reported to by a copy of the resignation contract, to which a form containing data of the resigned to person shall be attached.

4 Article (2) Companies operating in the field of factoring shall comply with the following regulations, in accordance with the Anti-Money Laundering Law and its Executive Regulations: Companies operating in the factoring field shall establish the systems necessary for obtaining identification and legal status data, for both natural and legal persons; they also shall verify such data through legal identification methods so as to satisfy the (KYC) principle when entering into factoring contracts, and shall record such identification data. Particular attention shall be paid to the following: 1. No factoring contracts shall be entered into with anonymous persons or persons using fictitious names. 2. Factoring contracts shall be conducted in accordance with the rules set by the companies board of directors according to the known criteria and within the framework of the applicable laws and regulations. Such contracts shall be sent to the Authority after verifying the data included therein and approving it, providing that contracts be attached with detailed data on the clients, whether natural or legal person. 3. Companies operating in the factoring field shall examine original registered owner?s identification documents and shall keep a copy thereof for a period of five years from the expiry date of the contract.

5 4. Companies operating in the factoring field shall keep records for the details of their transactions (nature of the activity-leased property-value-credit maturity?method and authentication documents for dues payment.) 5. Companies operating in the factoring field shall open separate accounts for every client showing the account balance and movements and shall keep a copy of all the payment documents for a period of five years from the date the contract expires. 6. In case of a company?s resignation of its factoring contract to another company a report containing all the information relating to such resignation shall be sent to the Authority and a copy of the documents proving that shall be attached.

6 Article (3) The companies referred to in Articles (1 and 2) shall comply with the following: Reporting Transactions Suspected of Involving Money Laundering: Each Company shall assign a money laundering reporting officer and his substitute, who shall be senior employees having enough academic and practical experience, and who shall be responsible for reporting to the Money Laundering Combating Unit any transactions suspected of involving money laundering. Any changes to the money laundering reporting officer or his substitute shall be reported to the Unit. The money laundering reporting officer shall examine transactions suspected of involving money laundering reported to him via the internal systems of the company or via any of the company staff along with the reasons of suspicion it or via any other entity. If the money laundering reporting officer finds no suspicion with the transactions he examines, it shall be his own responsibility to take decisions regarding the filing of such transactions and shall point out the reasons upon which he takes such a decision. If the money laundering reporting officer suspects that the transactions reported to him involve money laundering he shall

7 report them to the Money Laundering Combating Unit on the form prepared by the Unit for this purpose and shall attach to such form all the data and copies of related documents. Reports sent to the Money Laundering Combating Unit shall contain the detailed reasons upon which the money laundering reporting officer based his suspicion. It shall be prohibited to disclose to the leasee or the client or to any entity other than the authorities competent for the enforcement of the Anti-Money Laundering Law any of the reporting measures taken with respect to contracts suspected of involving money laundering or any data relating thereto. Training Each company shall prepare and implement on-going training programs for its staff- once annually at least- especially for new staff and the contract officers and internal auditors to raise their capacity to comply with these regulations. Particular attention shall be paid to include in such programs ways of laundering money, detecting such ways and reporting to the MLCU and the way of treating suspected customers. Companies shall maintain the records relating to the training programs it conducted and the names of the trainees as well as their qualifications and the training entity inside or outside Egypt for a period of five years at least. Internal Systems:

8 Each company shall establish the appropriate internal systems necessary for the sound application of the Anti-Money Laundering Regulations, and shall review such systems periodically to find out any weaknesses therein or in the extent to which such systems are applied and shall take the appropriate measures to correct such situations. Article (4) This Decree shall be published in the Investment Paper and shall become effective as from the day of its publication. Dr. Mohamed El-Ghamrawy Dawood Chairman of the General Authority for Investment and Free Zones

Unofficial translation of AML/ CFT Regulations for Banks

Unofficial translation of AML/ CFT Regulations for Banks Unofficial translation of AML/ CFT Regulations for Banks Introduction The Central Bank of Egypt (CBE) issued on 19 November 2003 AML Regulations for Banks, according to the Anti money Laundering Law No.

More information

Law No. 80 for 2002 Promulgating the Anti-Money Laundering Law And its Amendments ١

Law No. 80 for 2002 Promulgating the Anti-Money Laundering Law And its Amendments ١ Law No. 80 for 2002 Promulgating the Anti-Money Laundering Law And its Amendments ١ In the Name of the People, The President of the Republic, The People's Assembly has passed the following Law, and we

More information

Text of the Recommendation and Interpretative Notes

Text of the Recommendation and Interpretative Notes 1 of 5 FATF Recommendation 5: Customer due diligence and record-keeping Text of the Recommendation and Interpretative Notes See also: The full text of the 40 Recommendations and interpretative notes Return

More information

REGULATION FOR LIFE INSURANCE AND FAMILY TAKAFUL INSURANCE BUSINESSES ON PREVENTION OF MONEY LAUNDERING AND FINANCING OF TERRORISM

REGULATION FOR LIFE INSURANCE AND FAMILY TAKAFUL INSURANCE BUSINESSES ON PREVENTION OF MONEY LAUNDERING AND FINANCING OF TERRORISM REGULATION FOR LIFE INSURANCE AND FAMILY TAKAFUL INSURANCE BUSINESSES ON PREVENTION OF MONEY LAUNDERING AND FINANCING OF TERRORISM (unofficial English translation) REGULATION FOR LIFE INSURANCE AND FAMILY

More information

The United Republic of Tanzania. Financial Intelligence Unit I431. Anti-Money Laundering Guidelines for Bank of Tanzania GUIDELINES NO: 3

The United Republic of Tanzania. Financial Intelligence Unit I431. Anti-Money Laundering Guidelines for Bank of Tanzania GUIDELINES NO: 3 The United Republic of Tanzania Financial Intelligence Unit T!fl-t2 I431 ')1 ' Anti-Money Laundering Guidelines for Bank of Tanzania GUIDELINES NO: 3 Table of Contents page IINTRODUCTION... I 2 COMPLIANCE

More information

(Unofficial translation by the Financial and Capital Market Commission)

(Unofficial translation by the Financial and Capital Market Commission) (Unofficial translation by the Financial and Capital Market Commission) Text consolidated with amending laws of 12 December 2008; 01 December 2009; 10 December 2009. If a whole or part of a section has

More information

DRUG TRAFFICKING OFFENCES (AMENDMENT) ACT 2004

DRUG TRAFFICKING OFFENCES (AMENDMENT) ACT 2004 ANGUILLA DRUG TRAFFICKING OFFENCES (AMENDMENT) ACT 2004 PUBLISHED BY AUTHORITY DRUG TRAFFICKING OFFENCES (AMENDMENT) ACT 2004 ARRANGEMENT OF SECTIONS SECTION 1. Interpretation 2. Amendment of section 1

More information

AML / CFT Anti-money laundering and countering financing of terrorism

AML / CFT Anti-money laundering and countering financing of terrorism AML / CFT Anti-money laundering and countering financing of terrorism Wire transfers What is a wire transfer? 1. The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the Act) contains

More information

MTN Mobile Money 2012

MTN Mobile Money 2012 MTN Mobile Money 2012 Anti-Money Laundering It is the policy of MTN to prohibit and actively prevent the use of its money transfer services to facilitate money laundering, the funding of terrorists or

More information

SUBSIDIARY LEGISLATION 373.01 PREVENTION OF MONEY LAUNDERING AND FUNDING OF TERRORISM REGULATIONS

SUBSIDIARY LEGISLATION 373.01 PREVENTION OF MONEY LAUNDERING AND FUNDING OF TERRORISM REGULATIONS AND FUNDING OF TERRORISM [S.L.373.01 1 SUBSIDIARY LEGISLATION 373.01 PREVENTION OF MONEY LAUNDERING AND FUNDING OF TERRORISM REGULATIONS 31st July, 2008 LEGAL NOTICE 180 of 2008, as amended by Legal Notices

More information

INTERNATIONAL CORRESPONDENT BANKS. Knowing Your Customer (KYC) Anti-Money Laundering Prevention of Terrorist Financing

INTERNATIONAL CORRESPONDENT BANKS. Knowing Your Customer (KYC) Anti-Money Laundering Prevention of Terrorist Financing INTERNATIONAL CORRESPONDENT BANKS Registered Name Commercial name (if applicable) Full address of the registered office of the financial institution (Street, town and country) VAT number BIC code Website:

More information

ON CIRCULATION OF CREDIT INFORMATION AND ACTIVITIES OF CREDIT BUREAUS THE REPUBLIC OF ARMENIA LAW

ON CIRCULATION OF CREDIT INFORMATION AND ACTIVITIES OF CREDIT BUREAUS THE REPUBLIC OF ARMENIA LAW THE REPUBLIC OF ARMENIA LAW ON CIRCULATION OF CREDIT INFORMATION AND ACTIVITIES OF CREDIT BUREAUS Adopted October 22, 2008 Article 1. Subject of Law CHAPTER 1 GENERAL PROVISIONS 1. This law regulates terms

More information

Law No.(46) for the year 2007 Anti Money Laundering Law

Law No.(46) for the year 2007 Anti Money Laundering Law Law No.(46) for the year 2007 Anti Money Laundering Law 2 This law shall be cited as the Anti Money Laundering and Counter Terrorist Financing Law for the year 2007 and shall enter into force thirty days

More information

Financial Intelligence and Anti-Money Laundering Regulations 2003

Financial Intelligence and Anti-Money Laundering Regulations 2003 Financial Intelligence and Anti-Money Laundering Regulations 2003 GN 79/2003 THE FINANCIAL INTELLIGENCE AND ANTI-MONEY LAUNDERING ACT 2002 Regulations made by the Minister under section 35 of the Financial

More information

TERMS AND CONDITIONS FOR THE USE OF THE WEBSITE AND PRIVACY POLICY

TERMS AND CONDITIONS FOR THE USE OF THE WEBSITE AND PRIVACY POLICY TERMS AND CONDITIONS FOR THE USE OF THE WEBSITE AND PRIVACY POLICY 1. Trademarks-Intellectual Property Rights Sensus Capital, a brand of GBE Safepay Transactions Ltd (hereinafter called the Company or

More information

REGULATIONS GOVERNING SYSTEM AUDIT [REGULATORY COMPLIANCE] OF THE BROKERS OF THE KARACHI STOCK EXCHANGE

REGULATIONS GOVERNING SYSTEM AUDIT [REGULATORY COMPLIANCE] OF THE BROKERS OF THE KARACHI STOCK EXCHANGE REGULATIONS GOVERNING SYSTEM AUDIT [REGULATORY COMPLIANCE] OF THE BROKERS OF THE KARACHI STOCK EXCHANGE (As amended on July 17, 2012 and sent for Gazette Notification) PREAMBLE Whereas, it is considered

More information

Insurance Authority. Takaful Insurance Regulations

Insurance Authority. Takaful Insurance Regulations Insurance Authority Takaful Insurance Regulations The Insurance Authority s Board of Directors Resolution No (4) of 2010 Concerning the Takaful Insurance Regulations The Minister of Economy, Chairman of

More information

Act relating to measures to combat money laundering and the financing of terrorism, etc. (Money Laundering Act)

Act relating to measures to combat money laundering and the financing of terrorism, etc. (Money Laundering Act) Act relating to measures to combat money laundering and the financing of terrorism, etc. (Money Laundering Act) Translation as of April 2009. This translation is for information purposes only. Legal authenticity

More information

Article (1) Article (2) Article (3)* Article (4)

Article (1) Article (2) Article (3)* Article (4) AMIRI DECREE ORGANIZING KUWAIT STOCK EXCHANGE Having perused the Constitution and Law No. 15 of 1960 concerning the Commercial Companies and all amending Laws thereto and Law No. 32 of 1970 regulating

More information

Prime Minister Decree No. (951) Promulgating the Executive Regulations of the Anti-Money Laundering Law

Prime Minister Decree No. (951) Promulgating the Executive Regulations of the Anti-Money Laundering Law Prime Minister Decree No. (951) Promulgating the Executive Regulations of the Anti-Money Laundering Law The Prime Minister After having perused the Constitution, The Civil Code, The Penal Code, The Criminal

More information

Oceaneering International, Inc. Audit Committee Charter

Oceaneering International, Inc. Audit Committee Charter Oceaneering International, Inc. Audit Committee Charter Purpose The Audit Committee of the Board of Directors (the Committee ) is appointed by the Board of Directors (the Board ) to assist the Board in

More information

Presented By Greg Baldwin

Presented By Greg Baldwin ANTI-MONEY LAUNDERING COMPLIANCE OFFICER TRAINING Presented By Greg Baldwin THE ANTI-MONEY LAUNDERING COMPLIANCE OFFICER We re going to cover: Basis for the requirement to have a Compliance Officer The

More information

Anti Money Laundering Policy Deutsche Bank Group

Anti Money Laundering Policy Deutsche Bank Group Level 2 Anti Money Laundering Policy Deutsche Bank Group Table of Contents 1. Introduction... 3 2. Scope... 3 2.1. Objectives... 3 2.2. Applicability... 3 2.3. Definition of the Term Money Laundering...

More information

SELF-REGULATION RULES OF THE ASSOCIATION ROMANDE DES INTERMÉDIAIRES FINANCIERS (ARIF)

SELF-REGULATION RULES OF THE ASSOCIATION ROMANDE DES INTERMÉDIAIRES FINANCIERS (ARIF) 1 SELF-REGULATION RULES OF THE ASSOCIATION ROMANDE DES INTERMÉDIAIRES FINANCIERS (ARIF) A. GENERALITIES Purpose of the Rules 1 The Self-Regulation Rules, enacted by the Association romande des intermédiaires

More information

BYLAWS ARIZONA PSYCHOLOGY TRAINING CONSORTIUM. an Arizona nonprofit corporation. ARTICLE I Offices

BYLAWS ARIZONA PSYCHOLOGY TRAINING CONSORTIUM. an Arizona nonprofit corporation. ARTICLE I Offices BYLAWS OF ARIZONA PSYCHOLOGY TRAINING CONSORTIUM an Arizona nonprofit corporation ARTICLE I Offices Section 1. Organization. ARIZONA PSYCHOLOGY TRAINING CONSORTIUM (the "Corporation") is a nonprofit corporation

More information

NOTICE TO BANKS MONETARY AUTHORITY OF SINGAPORE ACT, CAP. 186 PREVENTION OF MONEY LAUNDERING AND COUNTERING THE FINANCING OF TERRORISM - BANKS

NOTICE TO BANKS MONETARY AUTHORITY OF SINGAPORE ACT, CAP. 186 PREVENTION OF MONEY LAUNDERING AND COUNTERING THE FINANCING OF TERRORISM - BANKS MAS 626 2 July 2007 Last revised on 1 July 2014 (Refer to endnotes for history of amendments) NOTICE TO BANKS MONETARY AUTHORITY OF SINGAPORE ACT, CAP. 186 PREVENTION OF MONEY LAUNDERING AND COUNTERING

More information

ANTI-MONEY LAUNDERING GUIDANCE FOR INSOLVENCY PRACTITIONERS IN THE REPUBLIC OF IRELAND

ANTI-MONEY LAUNDERING GUIDANCE FOR INSOLVENCY PRACTITIONERS IN THE REPUBLIC OF IRELAND ANTI-MONEY LAUNDERING GUIDANCE FOR INSOLVENCY PRACTITIONERS IN THE REPUBLIC OF IRELAND This guidance, which is specific to money laundering issues likely to arise in the context of insolvency practice,

More information

China Southern Airlines Company Limited. Terms of Reference of Audit Committee. Chapter 1 General Provisions

China Southern Airlines Company Limited. Terms of Reference of Audit Committee. Chapter 1 General Provisions China Southern Airlines Company Limited Terms of Reference of Audit Committee Chapter 1 General Provisions Article 1 In order to ensure the sustainable, regular and healthy development of China Southern

More information

POWERNEXT COMMODITIES 30/04/2015. Powernext SA hereafter publishes an update to the Market Rules of Powernext Commodities.

POWERNEXT COMMODITIES 30/04/2015. Powernext SA hereafter publishes an update to the Market Rules of Powernext Commodities. POWERNEXT COMMODITIES NOTICE COMMODITIES N 2015-18 Market Rules modifications (trading limits) 30/04/2015 Powernext SA hereafter publishes an update to the Market Rules of Powernext Commodities. These

More information

MPS GROUP GLOBAL ANTI-MONEY LAUNDERING POLICY

MPS GROUP GLOBAL ANTI-MONEY LAUNDERING POLICY Siena, march 2012 Pag. 1 di 5 MPS GROUP 1 - A p p l i c a t i o n This Global Anti-Money Laundering Policy (Policy) applies to all Banca Monte dei Paschi di Siena subsidiaries and branches (collectively

More information

AMPLIFY SNACK BRANDS, INC. AUDIT COMMITTEE CHARTER. Adopted June 25, 2015

AMPLIFY SNACK BRANDS, INC. AUDIT COMMITTEE CHARTER. Adopted June 25, 2015 AMPLIFY SNACK BRANDS, INC. AUDIT COMMITTEE CHARTER Adopted June 25, 2015 I. General Statement of Purpose The purposes of the Audit Committee of the Board of Directors (the Audit Committee ) of Amplify

More information

United Arab Emirates

United Arab Emirates The United Arab Emirates is a federal state composed of seven emirates including Abu Dhabi and Dubai. The federation came into effect in 1971, but each emirate maintains a varying degree of control over

More information

ACT AMENDING THE FINANCIAL OPERATIONS, INSOLVENCY PROCEEDINGS AND COMPULSORY DISSOLUTION ACT. Ministry of Justice of the Republic of Slovenia

ACT AMENDING THE FINANCIAL OPERATIONS, INSOLVENCY PROCEEDINGS AND COMPULSORY DISSOLUTION ACT. Ministry of Justice of the Republic of Slovenia ACT AMENDING THE FINANCIAL OPERATIONS, INSOLVENCY PROCEEDINGS AND COMPULSORY DISSOLUTION ACT Ministry of Justice of the Republic of Slovenia 2010 MINISTRY OF JUSTICE OF SLOVENIA LEGISLATION Disclaimer:

More information

UnityLink Online Money Transfer Terms and Conditions

UnityLink Online Money Transfer Terms and Conditions UnityLink Online Money Transfer Terms and Conditions These terms and conditions apply to Unitylink s Financial services Online Money Transfer ('the service') and are in addition to the other Terms and

More information

Real Estate Investment Funds Regulations

Real Estate Investment Funds Regulations Real Estate Investment Funds Regulations Contents Part 1 : Preliminary Provisions Article 1 : Preliminary... 5 Article 2 : Definitions... 5 Part 2 : Authorization Article 3 : Authorization Requirements...

More information

Regulations of Anti-Money Laundering and Terrorism Financing Circular No. (29/2006)

Regulations of Anti-Money Laundering and Terrorism Financing Circular No. (29/2006) Regulations of Anti-Money Laundering and Terrorism Financing Circular No. (29/2006) Issued by the Central Bank of Jordan Pursuant to Article No. 99(b) of the Banking Law Official Translation The Arabic

More information

ADVISORY GUIDELINES OF THE FINANCIAL INTELLIGENCE UNIT

ADVISORY GUIDELINES OF THE FINANCIAL INTELLIGENCE UNIT ADVISORY GUIDELINES OF THE FINANCIAL INTELLIGENCE UNIT REGARDING THE CHARACTERISTICS OF TRANSACTIONS SUSPECTED OF TERRORIST FINANCING 21 January 2013 1. The present explanatory guidelines have been issued

More information

Anti-Money Laundering Policy 2014

Anti-Money Laundering Policy 2014 Anti-Money Laundering Policy 2014 FOR INTERNAL USE ONLY Policy owner: AGM Compliance. Approving Authority Board of Directors Board of Directors Board of Directors Sign Off/ Approval date Earlier policy

More information

SHARE TRADING POLICY

SHARE TRADING POLICY 1. INTRODUCTION SHARE TRADING POLICY The Corporations Act contains provisions which prohibit a person in possession of material, non-public information relating to a company from dealing in any way with

More information

CAYMAN ISLANDS. Supplement No. 7 published with Gazette No. 21 of 8th October, 2012. LABOUR LAW (2011 REVISION) (2012 REVISION)

CAYMAN ISLANDS. Supplement No. 7 published with Gazette No. 21 of 8th October, 2012. LABOUR LAW (2011 REVISION) (2012 REVISION) CAYMAN ISLANDS Supplement No. 7 published with Gazette No. 21 of 8th October, 2012. LABOUR LAW (2011 REVISION) LABOUR TRIBUNALS REGULATIONS (2012 REVISION) Revised under the authority of the Law Revision

More information

Anti-Money Laundering Program and Suspicious Activity Reporting Requirements For Insurance Companies. Frequently Asked Questions

Anti-Money Laundering Program and Suspicious Activity Reporting Requirements For Insurance Companies. Frequently Asked Questions Anti-Money Laundering Program and Suspicious Activity Reporting Requirements For Insurance Companies Frequently Asked Questions We are providing the following Frequently Asked Questions to assist insurance

More information

FINANCIAL SERVICES FIRMS RULE BOOK

FINANCIAL SERVICES FIRMS RULE BOOK FINANCIAL SERVICES FIRMS RULE BOOK Issued by the Board of Directors of Qatar Financial Markets Authority (QFMA) In its Second Meeting of 2009 on the 4 th of May 2009 CHAPTER ONE DEFINITIONS Article 1 In

More information

Law No. (25) of 2009. Concerning. The Dubai International Airport Free Zone.

Law No. (25) of 2009. Concerning. The Dubai International Airport Free Zone. Concerning The Dubai International Airport Free Zone 1 We, Mohammed bin Rashid Al Maktoum, Ruler of Dubai, After perusal of Law No. (2) of 1996 Establishing the Dubai International Airport Free Zone and

More information

(unofficial English translation)

(unofficial English translation) REGULATION ON PREVENTION OF MONEY LAUNDERING AND FINANCING OF TERRORISM FOR MONEY TRANSFER BUSINESSES AND MONEY CHANGING BUSINESSES (unofficial English translation) REGULATION ON PREVENTION OF MONEY LAUNDERING

More information

中 國 通 信 服 務 股 份 有 限 公 司

中 國 通 信 服 務 股 份 有 限 公 司 中 國 通 信 服 務 股 份 有 限 公 司 CHINA COMMUNICATIONS SERVICES CORPORATION LIMITED (A joint stock limited company incorporated in the People s Republic of China with limited liability) (Stock Code: 552) AUDIT COMMITTEE

More information

Federal Law no. 6. Issued on 7/11/2010. Corresponding to 28 Shawwal 1431 H.

Federal Law no. 6. Issued on 7/11/2010. Corresponding to 28 Shawwal 1431 H. Federal Law no. 6 Issued on 7/11/2010 Corresponding to 28 Shawwal 1431 H. ON CREDIT INFORMATION We, Khalifa Bin Zayed Al Nahyan, President of the United Arab Emirates, Pursuant to the perusal of the Constitution

More information

FSPBA8 SQA Unit Code H5FA 04 Process the transfer of foreign currency

FSPBA8 SQA Unit Code H5FA 04 Process the transfer of foreign currency Overview This unit is about your ability to process the transfer of all types of foreign currency in accordance with your organisation's requirements. You will need to operate currency accounts and arrange

More information

MERCHANTS EXPRESS MONEY ORDER COMPANY, INC. (MEMO) AGENT ANTI-MONEY LAUNDERING COMPLIANCE GUIDE

MERCHANTS EXPRESS MONEY ORDER COMPANY, INC. (MEMO) AGENT ANTI-MONEY LAUNDERING COMPLIANCE GUIDE MERCHANTS EXPRESS MONEY ORDER COMPANY, INC. (MEMO) AGENT ANTI-MONEY LAUNDERING COMPLIANCE GUIDE Table of Contents WHY YOU AND YOUR EMPLOYEES SHOULD READ AND UNDERSTAND THIS GUIDE...1 WHY THIS GUIDE IS

More information

FAQ on frozen assets of Politically Exposed Persons (PEPs) originating from Ukraine Federal Council ordinance

FAQ on frozen assets of Politically Exposed Persons (PEPs) originating from Ukraine Federal Council ordinance Federal Department of Foreign Affairs FDFA FAQ on frozen assets of Politically Exposed Persons (PEPs) originating from Ukraine Federal Council ordinance Situation April 2014 1. Why has Switzerland frozen

More information

THE FINANCIAL OBLIGATIONS REGULATIONS, 2010. Arrangement of Regulations. Regulations PART I PART II PART III

THE FINANCIAL OBLIGATIONS REGULATIONS, 2010. Arrangement of Regulations. Regulations PART I PART II PART III THE FINANCIAL OBLIGATIONS REGULATIONS, 2010 Arrangement of Regulations Regulations PART I 1. Citation 2. Interpretation PRELIMINARY PART II TRAINING OBLIGATIONS AND COMPLIANCE PROGRAMME OF FINANCIAL INSTITUTION

More information

Law. on Payment Services and Payment Systems. Chapter One GENERAL PROVISIONS. Section I Subject and Negative Scope. Subject.

Law. on Payment Services and Payment Systems. Chapter One GENERAL PROVISIONS. Section I Subject and Negative Scope. Subject. Law on Payment Services and Payment Systems 1 Law on Payment Services and Payment Systems (Adopted by the 40th National Assembly on 12 March 2009; published in the Darjaven Vestnik, issue 23 of 27 March

More information

Our Anti-Money Laundering and Countering Terrorist Financing Policy Summary

Our Anti-Money Laundering and Countering Terrorist Financing Policy Summary Our Anti-Money Laundering and Countering Terrorist Financing Policy Summary www.isamholding.com Our Anti-Money Laundering and Countering Terrorist Financing Policy Summary Our Anti-Money Laundering and

More information

- Having regard to the decision by the Board of directors of the Financial Intelligence Authority adopted on the 27th of October 2011,

- Having regard to the decision by the Board of directors of the Financial Intelligence Authority adopted on the 27th of October 2011, REGULATION No. 4 OF THE AUTHORITY OF FINANCIAL INFORMATION GOVERNING THE CONTENT OF THE DUTIES CONCERNING THE TRANSFER OF ASSETS ACCORDING TO ARTICLE 38, PARAGRAPH 4 OF ACT No. CXXVII OF THE 30TH OF DECEMBER

More information

Autoridade Bancária e de Pagamentos de Timor-Leste Banking and Payments Authority of Timor-Leste

Autoridade Bancária e de Pagamentos de Timor-Leste Banking and Payments Authority of Timor-Leste Autoridade Bancária e de Pagamentos de Timor-Leste Banking and Payments Authority of Timor-Leste PUBLIC INSTRUCTION 02/2004 ON THE PREVENTION OF MONEY LAUNDERING, CUSTOMER IDENTIFICATION AND RECORD-KEEPING

More information

DEVELOPING AN AML (ANTI-MONEY LAUNDERING) PROGRAM:

DEVELOPING AN AML (ANTI-MONEY LAUNDERING) PROGRAM: DEVELOPING AN AML (ANTI-MONEY LAUNDERING) PROGRAM: Although the Department of the Treasury has not issued specific rules for hedge funds and hedge fund managers, hedge fund managers should adopt and implement

More information

17. BANKING. 17.1 Legal Framework. 17.2 Regulatory Bodies

17. BANKING. 17.1 Legal Framework. 17.2 Regulatory Bodies Baker & McKenzie Since 2003 subsoil plot development under the PSA Law has been available only if such subsoil plot was put out to auction and the auction failed. That is, only those plots that are not

More information

FTI CONSULTING, INC. CHARTER OF AUDIT COMMITTEE OF THE BOARD OF DIRECTORS. Amended and Restated Effective as of February 23, 2011

FTI CONSULTING, INC. CHARTER OF AUDIT COMMITTEE OF THE BOARD OF DIRECTORS. Amended and Restated Effective as of February 23, 2011 FTI CONSULTING, INC. CHARTER OF AUDIT COMMITTEE OF THE BOARD OF DIRECTORS Amended and Restated Effective as of February 23, 2011 Organization and Operation There shall be a committee of the Board of Directors

More information

February 2015. Sample audit committee charter

February 2015. Sample audit committee charter February 2015 Sample audit committee charter Sample audit committee charter This sample audit committee charter is based on observations of selected companies and the requirements of the SEC, the NYSE,

More information

THE UK S ANTI-MONEY LAUNDERING LEGISLATION AND THE DATA PROTECTION ACT 1998 GUIDANCE NOTES FOR THE FINANCIAL SECTOR. April 2002

THE UK S ANTI-MONEY LAUNDERING LEGISLATION AND THE DATA PROTECTION ACT 1998 GUIDANCE NOTES FOR THE FINANCIAL SECTOR. April 2002 THE UK S ANTI-MONEY LAUNDERING LEGISLATION AND THE DATA PROTECTION ACT 1998 GUIDANCE NOTES FOR THE FINANCIAL SECTOR April 2002 Introduction 1. This guidance has been prepared by the Government departments

More information

Law No 35 of 2002 For Combating Money Laundry Processes

Law No 35 of 2002 For Combating Money Laundry Processes Law No 35 of 2002 For Combating Money Laundry Processes Law No 35 of 2002 For Combating Money Laundry Processes Upon viewing constitution And law no. 15/1960 for issuing law of commercial companies and

More information

GENERAL TERMS AND CONDITIONS FOR LEGAL SERVICES

GENERAL TERMS AND CONDITIONS FOR LEGAL SERVICES GENERAL TERMS AND CONDITIONS FOR LEGAL SERVICES This document sets forth the general terms and conditions under which AS Advokaadibüroo Tark Grunte Sutkiene provides legal services. 1. THE PARTIES 1.1

More information

Federal Act on Combating Money Laundering and Terrorist Financing in the Financial Sector 1

Federal Act on Combating Money Laundering and Terrorist Financing in the Financial Sector 1 English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force. Federal Act on Combating Money Laundering and Terrorist

More information

CORPORATE GOVERNANCE. I. Enforcement and application of the Code. The Board of Management

CORPORATE GOVERNANCE. I. Enforcement and application of the Code. The Board of Management CORPORATE GOVERNANCE Rood Testhouse International N.V. (hereinafter referred to as RoodMicrotec) considers the application of the Dutch Code of Corporate governance (hereinafter referred to as the Code)

More information

ON AUDIT ACTIVITY THE REPUBLIC OF ARMENIA LAW ON AUDIT ACTIVITY CHAPTER 1 GENERAL

ON AUDIT ACTIVITY THE REPUBLIC OF ARMENIA LAW ON AUDIT ACTIVITY CHAPTER 1 GENERAL THE REPUBLIC OF ARMENIA LAW ON AUDIT ACTIVITY Adopted December 20, 2002 CHAPTER 1 GENERAL Article 1. Subject of Law This law defines basis for implementation of audit activities in the Republic of Armenia

More information

AUTHORISATION JAMES PAGET UNIVERSITY HOSPITALS NHS FOUNDATION TRUST

AUTHORISATION JAMES PAGET UNIVERSITY HOSPITALS NHS FOUNDATION TRUST AUTHORISATION of JAMES PAGET UNIVERSITY HOSPITALS NHS FOUNDATION TRUST (pursuant to Section 6 of the Health and Social Care (Community Health and Standards) Act 2003) Signature:... 1 August 2006 1 TABLE

More information

REPUBLIC OF ARMENIA LAW ON COMBATING MONEY LAUNDERING AND TERRORISM FINANCING

REPUBLIC OF ARMENIA LAW ON COMBATING MONEY LAUNDERING AND TERRORISM FINANCING REPUBLIC OF ARMENIA LAW ON COMBATING MONEY LAUNDERING AND TERRORISM FINANCING CHAPTER 1 GENERAL PROVISIONS The purpose of this Law shall be protecting the rights, freedoms, and legitimate interests of

More information

VISUAL RESOURCES ASSOCATION FOUNDATION. A Delaware Nonstock, Nonprofit Corporation ARTICLE 1. OFFICES

VISUAL RESOURCES ASSOCATION FOUNDATION. A Delaware Nonstock, Nonprofit Corporation ARTICLE 1. OFFICES BY-LAWS OF VISUAL RESOURCES ASSOCATION FOUNDATION A Delaware Nonstock, Nonprofit Corporation ARTICLE 1. OFFICES SECTION 1. PRINCIPAL OFFICE The principal office of the Corporation for the transaction of

More information

Human Resources Regulation for the Independent Federal Entities

Human Resources Regulation for the Independent Federal Entities United Arab Emirates The Federal Authority for Government Human Resources Human Resources Regulation for the Independent Federal Entities Council of Ministers Resolution No. 15 of 2013 On the Human Resources

More information

THE ISLAMIC REPUBLIC OF AFGHANISTAN - ANTI-MONEY LAUNDERING AND PROCEEDS OF CRIME LAW

THE ISLAMIC REPUBLIC OF AFGHANISTAN - ANTI-MONEY LAUNDERING AND PROCEEDS OF CRIME LAW THE ISLAMIC REPUBLIC OF AFGHANISTAN - ANTI-MONEY LAUNDERING AND PROCEEDS OF CRIME LAW - 2 - CHAPTER ONE GENERAL Article 1 Purpose The purpose of this law is to prevent and prohibit the use of financial

More information

INTERNATIONAL MONEY EXPRESS (IME) LIMITED ONLINE REMIT USER AGREEMENT

INTERNATIONAL MONEY EXPRESS (IME) LIMITED ONLINE REMIT USER AGREEMENT INTERNATIONAL MONEY EXPRESS (IME) LIMITED ONLINE REMIT USER AGREEMENT This User Agreement is version 1.01 and is effective from This Agreement Between International Money Express (IME) Limited (hereafter

More information

http://www.pcpd.org.hk/english/publications/files/gn_insurance_e.pdf

http://www.pcpd.org.hk/english/publications/files/gn_insurance_e.pdf Briefing Data privacy regulation: Spotlight on Hong Kong insurers Summary Two recent regulatory initiatives will place the Hong Kong insurance industry s use and handling of personal data under greater

More information

In the name of Allah, the most Gracious, the most Merciful. Summary of Anti Money Laundering and

In the name of Allah, the most Gracious, the most Merciful. Summary of Anti Money Laundering and In the name of Allah, the most Gracious, the most Merciful Summary of Anti Money Laundering and Combating Terrorist Financing ( AML / CTF ) Policy Jordan Islamic Bank Amman - Jordan 1 Preface In the context

More information

(Informal Translation) Chapter One. General Provisions. 1- The deposit of securities with the Company or with any licensed entity;

(Informal Translation) Chapter One. General Provisions. 1- The deposit of securities with the Company or with any licensed entity; CAPITAL MARKET AUTHORITY (Informal Translation) Central Securities Depository and Registry Law No. 93 of 2000 Chapter One General Provisions Article 1 In this Law, the Company means a company licensed

More information

Law of Anti-Money Laundering and Combating the Financing of Terrorism. Chapter One. Definition

Law of Anti-Money Laundering and Combating the Financing of Terrorism. Chapter One. Definition Law of Anti-Money Laundering and Combating the Financing of Terrorism Chapter One Definitions Article (1): For the purpose of (In implementation of) this Law, the following phrases and words shall have

More information

Registration of Credit Institutions and the Licensing of Banking Activities

Registration of Credit Institutions and the Licensing of Banking Activities Registration of Credit Institutions and the Licensing of Banking Activities The procedures for registering credit institutions and licensing banking operations, verifying the legitimacy of shareholding

More information

16- INSTRUCTIONS ISSUED BY CENTRAL BANK OF KUWAIT REGARDING MONEY LAUNDERING

16- INSTRUCTIONS ISSUED BY CENTRAL BANK OF KUWAIT REGARDING MONEY LAUNDERING 16- INSTRUCTIONS ISSUED BY CENTRAL BANK OF KUWAIT REGARDING MONEY LAUNDERING A) Circular to local banks on taking internal actions for implementing the rules of Law No. 35 of the year 2002 and its explanatory

More information

Federal Law No. (1) of 2006 On Electronic Commerce and Transactions

Federal Law No. (1) of 2006 On Electronic Commerce and Transactions Federal Law No. (1) of 2006 On Electronic Commerce and Transactions We, Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates, In cognisance of the Constitution, and The Federal Law No. (1)

More information

GENERAL TERMS OF ORDERS AND DEFINITIONS FOR A PROFESSIONAL INVESTOR. April 2007

GENERAL TERMS OF ORDERS AND DEFINITIONS FOR A PROFESSIONAL INVESTOR. April 2007 1 I. SCOPE OF APPLICATION OF THE GENERAL TERMS OF ORDERS AND DEFINITIONS 1 Purpose and scope of application of the Terms of Orders These Terms of Orders shall be applied to the Order Relationship on the

More information

MetLife, Inc. Audit Committee Charter. (as reviewed October 27, 2015; as amended and restated effective October 27, 2015)

MetLife, Inc. Audit Committee Charter. (as reviewed October 27, 2015; as amended and restated effective October 27, 2015) MetLife, Inc. Audit Committee Charter (as reviewed October 27, 2015; as amended and restated effective October 27, 2015) Role of the Audit Committee The Audit Committee (the Committee ) is appointed by

More information

MEMORANDUM OF UNDERSTANDING. BETWEEN TilE UNITED STATES COMMODITY FUTURES TRADING COMMISSION. AND TilE CONCERNING CONSULTATION

MEMORANDUM OF UNDERSTANDING. BETWEEN TilE UNITED STATES COMMODITY FUTURES TRADING COMMISSION. AND TilE CONCERNING CONSULTATION ) MEMORANDUM OF UNDERSTANDING BETWEEN TilE UNITED STATES COMMODITY FUTURES TRADING COMMISSION AND TilE HONG KONG SECURITIES M'D FUTURES COMMISSION \ i CONCERNING CONSULTATION AND COOPERATION IN TilE ADMINISTRATION

More information

(Incorporated in the Cayman Islands with limited liability) (amended and restated with effect from 1 January 2016)

(Incorporated in the Cayman Islands with limited liability) (amended and restated with effect from 1 January 2016) (Incorporated in the Cayman Islands with limited liability) (Stock code: 00474) (the Company, together with its subsidiaries, the Group ) Terms of reference (the Regulations ) relating to the audit committee

More information

THE QUIZ ANSWER SHEET

THE QUIZ ANSWER SHEET THE QUIZ ANSWER SHEET Section 1 1. The club s AML/CTF program is designed to: a. allow the club to identify, mitigate and manage money laundering and terrorist financing risks b. advise staff how to launder

More information

DIRECTIVE 2014/9/EAC OF THE COUNCIL OF MINISTERS

DIRECTIVE 2014/9/EAC OF THE COUNCIL OF MINISTERS DIRECTIVE 2014/9/EAC OF THE COUNCIL OF MINISTERS of (Date of Approval by Council of Ministers) DIRECTIVE OF THE EAST AFRICAN COMMUNITY ON CENTRAL SECURITIES DEPOSITORIES Preamble: The Council of Ministers

More information

Best practices issued by the Middle East and North Africa Financial Action Task Force Concerning the HAWALA

Best practices issued by the Middle East and North Africa Financial Action Task Force Concerning the HAWALA Best practices issued by the Middle East and North Africa Financial Action Task Force Concerning the HAWALA December 2005 TABLE OF CONTENTS First: Hawala definition 3 Second: Characteristics of the Hawala

More information

ONLINE BANKING AGREEMENT

ONLINE BANKING AGREEMENT ONLINE BANKING AGREEMENT 1. The Service. In consideration of the Online Banking services ("Services") to be provided by Bank of The Valley ("BANK"), as described from time to time in information distributed

More information

PREVENTION OF MONEY LAUNDERING AND FINANCING OF TERRORISM ACT

PREVENTION OF MONEY LAUNDERING AND FINANCING OF TERRORISM ACT Law no. 10/2014 PREVENTION OF MONEY LAUNDERING AND FINANCING OF TERRORISM ACT (unofficial English translation) PREVENTION OF MONEY LAUNDERING AND FINANCING OF TERRORISM ACT CONTENTS PART ONE PRELIMINARY

More information

Financial Services Regulatory Commission Antigua and Barbuda Division of Gaming Customer Due Diligence Guidelines for

Financial Services Regulatory Commission Antigua and Barbuda Division of Gaming Customer Due Diligence Guidelines for Division of Gaming Customer Due Diligence Guidelines for Interactive Gaming & Interactive Wagering Companies November 2005 Customer Due Diligence for Interactive Gaming & Interactive Wagering Companies

More information

The Law of the City of Moscow. No. 30 dated the 30 th of June 2010. On the Chamber of Control and Accounts of Moscow

The Law of the City of Moscow. No. 30 dated the 30 th of June 2010. On the Chamber of Control and Accounts of Moscow The Law of the City of Moscow No. 30 dated the 30 th of June 2010 On the Chamber of Control and Accounts of Moscow In accordance with the federal legislation and the Moscow City Charter, this Law shall

More information

Code of Conduct for Business Lending to Small and Medium Enterprises

Code of Conduct for Business Lending to Small and Medium Enterprises Code of Conduct for Business Lending to Small and Medium Enterprises February 2009 Code of Conduct for Business Lending to Small and Medium Enterprises Scope This Code applies to all business lending by

More information

SWEDBANK AS TERMS AND CONDITIONS FOR PAYMENT CARDS SERVICING Valid from 01.12.2014

SWEDBANK AS TERMS AND CONDITIONS FOR PAYMENT CARDS SERVICING Valid from 01.12.2014 SWEDBANK AS TERMS AND CONDITIONS FOR PAYMENT CARDS SERVICING Valid from 01.12.2014 1. TERMS AND DEFINITIONS 1.1 Account is a current account of the Merchant specified in the Agreement. 1.2 Agreement is

More information

The Authority s Board of Directors Decision No. (1) of Concerning the Regulation for Investment Management

The Authority s Board of Directors Decision No. (1) of Concerning the Regulation for Investment Management The Authority s Board of Directors Decision No. (1) of 2014 Concerning the Regulation for Investment Management The Chairman of the Board of Directors of the Securities and Commodities Authority, Having

More information

Money laundering. Our obligation to comply with. the Financial Intelligence. Centre Act.

Money laundering. Our obligation to comply with. the Financial Intelligence. Centre Act. Money laundering Our obligation to comply with the Financial Intelligence Centre Act. Impact on account opening procedures as from 1 July 2003 Money laundering has been identified as the third biggest

More information

FLEXIROAM LIMITED ( COMPANY ) (ACN 143 777 397) SECURITY TRADING POLICY ( POLICY )

FLEXIROAM LIMITED ( COMPANY ) (ACN 143 777 397) SECURITY TRADING POLICY ( POLICY ) FLEXIROAM LIMITED ( COMPANY ) (ACN 143 777 397) SECURITY TRADING POLICY ( POLICY ) 1. Introduction 1.1 This document sets out the Company s policy on the sale and purchase of its securities by its Directors,

More information

EXPLANATORY MEMORANDUM

EXPLANATORY MEMORANDUM MONEY LAUNDERING (PROHIBITION) (AMENDMENT) ACT, 2012 EXPLANATORY MEMORANDUM This Act amends the Money Laundering (Prohibition) Act, No. 11 2011 to expand the scope of Money Laundering offences and enhance

More information

SPIN MASTER CORP. CHARTER OF THE AUDIT COMMITTEE

SPIN MASTER CORP. CHARTER OF THE AUDIT COMMITTEE SPIN MASTER CORP. CHARTER OF THE AUDIT COMMITTEE 1. Introduction This charter (the Charter ) sets forth the purpose, composition, duties and responsibilities of the Audit Committee (the Committee ) of

More information

Decree Law No. ( ) of 2011 on Electronic Transactions Law

Decree Law No. ( ) of 2011 on Electronic Transactions Law Decree Law No. ( ) of 2011 on Electronic Transactions Law Decree Law No. ( ) of 2011 on Electronic Transactions Law We, President of the State of Palestine Chairman of the Executive Committee of the Palestine

More information

Investment Accounts Instructions

Investment Accounts Instructions Investment Accounts Instructions 1 KINGDOM OF SAUDI ARABIA Capital Market Authority Investment Accounts Instructions English Translation of the Official Arabic Text Issued by the Board of the Capital Market

More information

Anti-Money Laundering Measures in the Cayman Islands

Anti-Money Laundering Measures in the Cayman Islands Anti-Money Laundering Measures in the Cayman Islands Foreword This memorandum has been prepared for the assistance of those who are considering the law of the Cayman Islands (sometimes referred to as Cayman

More information

Basel Committee on Banking Supervision. Consolidated KYC Risk Management

Basel Committee on Banking Supervision. Consolidated KYC Risk Management Basel Committee on Banking Supervision Consolidated KYC Risk Management October 2004 Table of contents Introduction...4 Global process for managing KYC risks...5 Risk management...5 Customer acceptance

More information

SunTrust Banks, Inc. Audit Committee of the Board of Directors Charter

SunTrust Banks, Inc. Audit Committee of the Board of Directors Charter SunTrust Banks, Inc. Audit Committee of the Board of Directors Charter PURPOSE The Audit Committee (the Committee ) is appointed by the Board of Directors (the Board ) of SunTrust Banks, Inc. (the Company

More information