Summary


This article will outline how First AML verify nominee relationships under New Zealand, and United Kingdom AML legislation. 





TABLE OF CONTENTS





Power of Attorney


First AML will collect a copy of the following documents:

  1. Power of Attorney Certificate / Lasting Powers of Attorney (LPAs)
  2. Certificate of Non-Revocation (Dated within 3 months).




Enduring Power of Attorney


First AML will collect a copy of the following documents:

  1. Enduring Power of Attorney Certificate.
  2. Certificate of Non-Revocation and Non-Suspension’ of the Enduring Power of Attorney (Dated within 3 months)


Collect Doctors Certificate to confirm if mentally incapable if…it states in the EPOA that it comes into effect only if mentally incapable. (It can also state that the EPOA comes into effect while you are mentally capable, this meaning your attorney can act under it as soon as it is signed and witnessed and can continue to act if you become mentally incapable - No Doctors certificate required)



Attorney’s Authority: When appointing more than one attorney to act at the same time under an EPOA, the donor can specify whether the attorneys have joint, several, or joint and several, authority to act.



Several authority: This type of appointment allows the attorneys to act separately, without the knowledge and approval of the other/s --> It means First AML will just verify the attorney who can act on behalf of the donor for that transaction/case. 



Joint authority: This type of appointment means that the attorneys can only act together, each with the knowledge and approval of the other/s. This type of appointment means that if one attorney is unable to act for any reason the other attorney cannot act alone. It means First AML will verify all attorneys who can act on behalf of the donor. 





Nominee Directors & Shareholders


If First AML verify an entity which has a nominee arrangement within the entity structure, we will collect the Deed of Nomination and source of wealth evidence.