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On 12 December 2006, the new Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) came into effect. It is designed to bring Australia’s financial sector in line with international standards and to prevent and detect the misuse of Australian businesses for money laundering and terrorism financing.
One of the requirements of this Act is for businesses operating in the financial sector such as 2020 DIRECTINVEST and fund management companies to obtain, verify and record information that identifies customers effective 12 December 2007.
2020 DIRECTINVEST will have to maintain records that verify our client identities and either provide copies to fund companies with new investment applications or confirm to the fund companies that we have complied with the AML/CTF Act. The good news is that we will only need you to provide us with certified identification documentation once for each type of investment entity. (Individuals, Companies, DIY Super funds and Trusts).
All new and existing clients investing via 2020 DIRECTINVEST must submit your application via our office so we can confirm that you have complied with the Act. Your application must be accompanied by a relevant Identification Form and a certified photocopy of your driver's licence or passport. Certified copies should contain the following details by the authorised certifier:
- Write: “I certify that this is a true and correct copy of the original”
- Date
- Sign and write their name in block letters
- Write their position and ID number if relevant
This is applicable to new clients making new investments, existing clients making new investments and existing clients adding to your existing investments. Failing to provide this information means that we will be unable to process your requested investment application.
IMPORTANT NOTICE
Please note that you will now need to send all new applications for investment to our office (initially with the certified identification documents) so we can confirm to the fund company that your identity has been verified. The address for new applications is:
2020 DIRECTINVEST
Reply Paid 75099
Greenwich NSW 2065
Once this is done, we will forward your application to the relevant fund manager within 24 hours of receiving them.
Any of these people have the authority to sight and certify your supporting documents:
- a person who is enrolled on the roll of the Supreme Court of a State or Territory, or the High Court of Australia, as a legal practitioner;
- a judge of a court;
- a magistrate;
- a chief executive officer of a Commonwealth court;
- a registrar or deputy registrar of a court;
- a Justice of the Peace;
- a notary public;
- a police officer;
- an agent of the Australian Postal Corporation who is in charge of an office supplying postal services to the public;
- a permanent employee of the Australian Postal Corporation with 2 or more years of continuous service who is employed in an office supplying postal services to the public;
- an Australian consular officer or an Australian diplomatic officer;
- an officer with 2 or more continuous years of service with one or more financial institutions;
- a finance company officer with 2 or more continuous years of service with one or more finance companies;
- an officer with, or authorised representative of, a holder of an Australian financial services licence, having 2 or more continuous years of service with one or more licensees;
- a member of the Institute of Chartered Accountants in Australia, CPA Australia or the National Institute of Accountants with 2 or more years of continuous membership.
Your privacy is protected
2020 DIRECTINVEST will protect your privacy in according with the Privacy Act 1988 and our Privacy Policy. This policy covers the collection, use, disclosure, accuracy and security of your information that is retained by 2020 DIRECTINVEST.
If you have any questions in the meantime regarding the new legislation, please feel free to contact our office
 | Identification Form - Individuals & Sole Traders | | Identification Form - Companies | | Identification Form - Trusts | | Identification Form - Partnerships |
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