New identification requirements for certain transactions

New identification requirements have been introduced throughout much of the Financial Services industry, following the introduction of laws designed to help prevent money laundering and terrorism financing (for more details about the Anti Money Laundering/Counter-Terrorism Financing Act, please visit www.austrac.gov.au).

For our existing and prospective customers, this means that for many transactions relating to your investment, new identification requirements will now apply. For your convenience, we have listed some of the transactions affected below:

  • New applications
  • Full Withdrawals
  • Change of Address - non-residents
  • Change of Bank account Details
  • Transfer of Ownership
  • Change of Regular savings plan and fixed payment plan amounts
  • Change of Tele-Access (re-issue SAN and cancel SAN ).

Identification Verification Documents

These new requirements involve the provision of additional documents to verify your identity. Acceptable identification verification documents are 'certified true copies' of the relevant original documents, as summarised in the table below:

Investor type

Identity verification documentation required
Individual or Sole Traders
  • A current driver's license or passport; or
  • Birth/Citizenship Certificate, Centrelink Pension Card

    • AND

  • Centrelink Payment letter or Government notice (less than 1 year old) with name/address
Australian Company
  • A current extract from the Australian Securities and Investments Commission (ASIC);or
  • A current extract from the Australian Stock Exchange database; or
  • Certificate of registration issued by ASIC.
Australian Trust/Superannuation Fund

Depending on the type of Trust, either;

  • A current extract from the relevant regulator database; or
  • A current extract of the legislation establishing the Government Superannuation Fund sourced from a Government website.

The identity of at least 1 Trustee must also be verified. They will need to provide the same documents as required for an individual investor

Partnership
  • A current extract of the Partnership agreement.

The identity of at least 1 Partner must also be verified. They will need to provide the same documents as required for an individual investor.

Foreign Companies

Incorporated and Unincorporated Association

Registered Co-Operative Government body

  • Please contact us for more information on 132 977.
 

Who can certify documents?

A wide range of appropriately qualified people can certify documents. Below is a list of some of the more commonly used certifiers.

1.

(A Lawyer) a person who is enrolled on the roll of the Supreme Court of a State or Territory, or High Court of Australia, as a legal practitioner (however described);

2.

A Judge of a Court;

3.

A Magistrate;

4.

A Chief Executive Officer of a Commonwealth court;

5.

A Registrar or Deputy Registrar of a Court;

6.

A Justice of Peace;

7.

A Notary Public (for the purposes of the Statutory Declaration Regulations 1993);

8.

A Police Officer;

9.

(A Postal Agent) an agent of the Australian Postal Corporation who is in charge of an office supplying postal services to the public;

10.

(The Post Office) an 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;

11.

An Australian Consular Officer or an Australian Diplomatic Officer (within the meaning of the Consular Fees Act 1955);

12.

An Officer with 2 or more continuous years of service with one or more financial institutions (for the purposes of the Statutory Declaration Regulations 1993);

13.

A Finance Company Officer with 2 or more continuous years of service with one or more financial companies (for the purposes of the Statutory Declaration Regulations 1993);

14.

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; and

15.

(An Accountant) 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.

16.

An individual registered or licensed as:

a) a pharmacist; or

b) a medical practitioner

under a law of the State or Territory providing for that registration or licensing.

The authorised person will need to write in English. Certification must include the name, address, type of authority ( i.e. pharmacist or police officer etc ) and telephone number of certifying authority. Faxed copies of certification do not comply with our identification requirements and are not acceptable.

Please do not hesitate to contact us on 132 977 if you have any questions in relation to the above information.