PART 2 U.K.CUSTOMER DUE DILIGENCE

Meaning of customer due diligence measuresU.K.

5.  “Customer due diligence measures” means—

(a)identifying the customer and verifying the customer's identity on the basis of documents, data or information obtained from a reliable and independent source;

(b)identifying, where there is a beneficial owner who is not the customer, the beneficial owner and taking adequate measures, on a risk-sensitive basis, to verify his identity so that the relevant person is satisfied that he knows who the beneficial owner is, including, in the case of a legal person, trust or similar legal arrangement, measures to understand the ownership and control structure of the person, trust or arrangement; and

(c)obtaining information on the purpose and intended nature of the business relationship.