Page:Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance (Cap. 615).pdf/114

Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions)
Ordinance

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entity that falls within that subsection, the financial institution is not required, when carrying out the measure set out in section 2(1)(b) of this Schedule in respect of the beneficial owners in that chain in any of the circumstances set out in section 3(1)(a), (b) and (c) of this Schedule, to identify, or verify the identities of, the beneficial owners of that entity or of any person in that chain beyond that entity.

(3) The customer is—

(a) a financial institution;

(b) an institution that—

(i) is incorporated or established in an equivalent jurisdiction;

(ii) carries on a business similar to that carried on by a financial institution;

(iii) has measures in place to ensure compliance with requirements similar to those imposed under this Schedule; and

(iv) is supervised for compliance with those requirements by an authority in that jurisdiction that performs functions similar to those of any of the relevant authorities;

(c) a corporation listed on any stock exchange;

(d) an investment vehicle where the person responsible for carrying out measures that are similar to the customer due diligence measures in relation to all the investors of the investment vehicle is—

(i) a financial institution;

(ii) an institution that—

(A) is incorporated or established in Hong Kong;