Page 54 - Kildare CU 2022 AR

‘POLITICALLY EXPOSED PERSON’ (PEP)
Kildare Credit Union has an obligation under the Criminal Justice (Money Laundering and Terrorist Financing) Acts 2010-2021 to identify our members who fit the description of a Politically Exposed Person (PEP), an immediate family member of a PEP or a close associate of a PEP as set out below. If you are at present or become a PEP, an immediate family member of a PEP or a close associate of a PEP, please notify Kildare Credit Union.
‘Politically Exposed Person’ (PEP)
Politically Exposed Person means an individual who is, or has at any time in the preceding 12 months been, entrusted with a prominent public function, including any of the following individuals (but not including any middle ranking or more junior official):
(a) a specified official;
(b) a member of the administrative, management or supervisory body of a state-owned
enterprise;
(c) any individual performing a prescribed function.
Section 37 (10) of the CJA 2010-2021
‘Specified official’ means any of the following officials (including any such officials in an institution of the European Communities or an international body):
(a) a head of state, head of government, government minister or deputy or assistant government minister;
(b) a member of a parliament or a similar legislative body;
(c) a member of the governing body of a political party;
(d) a member of a supreme court, constitutional court or other high level judicial body
whose decisions, other than in exceptional circumstances, are not subject to further
appeal;
(e) a member of a court of auditors or of the board of a central bank;
(f) an ambassador, chargé d’affairs or high-ranking officer in the armed forces.
(g) a director, deputy director or member of the board of, or person performing the
equivalent function in relation to, an international organisation.
Section 37 (10) of the CJA 2010-2021
The Minister may, with the consent of the Minister for Finance, issue guidelines to the competent authorities in respect of functions in the State that may be considered to be prominent public functions and each competent authority shall have regard to any such guidelines.
Section 37 (12) Of the CJA 2010-2021
Close Associate of a politically exposed person includes any of the following persons:
a) Any individual who has joint beneficial ownership of a legal entity or legal arrangement, or
any other close business relations, with the politically exposed person;
b) Any individual who has sole beneficial ownership of a legal entity or legal arrangement set
up for the actual benefit of the politically exposed person;
Section 37 (10) of the CJA 2010-2021
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