S.L. 123.127 ст. 39Due diligence obligations.

For the purposes of the EU Administrative Cooperation Directive, a Reporting Malta Financial Institution shall apply the due diligence procedures specified in Section II to Section VII of

Annex I, and Annex II to these regulations so as to be able to identify Reportable Accounts. In particular:

(a) the due diligence procedures in respect of Pre-Existing Individual Accounts shall be regulated in accordance with the provisions of Section III of Annex I to these regulations;

(b) the due diligence procedures in respect of New Individual Accounts shall be regulated in accordance with the provisions of Section IV of Annex I to these regulations;

(c) the due diligence procedures in respect of Pre-Existing Entity Accounts shall be regulated in accordance with the provisions of Section V of Annex I to these regulations;

(d) the due diligence procedures in respect of New Entity Accounts shall be regulated in accordance with the provisions of Section VI of Annex I to these regulations: Provided that in carrying out this obligation, a Reporting Malta Financial Institution shall obtain satisfactory self-certification documentation or documentary evidence to establish the residence for tax purposes of the Account Holder. The term "documentary evidence" shall have the same meaning as that contained under E.6. of Section VIII of Annex I to these regulations:

Provided further that the self-certification may be in such form as the Commissioner may determine.