Simplified due diligence
This section has no associated Explanatory Memorandum
2. For the purposes of regulation 13(6), the conditions are—
(a)the authority has been entrusted with public functions pursuant to the Treaty on the European Union(1), the Treaties on the European Communities or Community secondary legislation;
(b)the authority’s identity is publicly available, transparent and certain;
(c)the activities of the authority and its accounting practices are transparent;
(d)either the authority is accountable to a Community institution or to the authorities of an EEA state, or otherwise appropriate check and balance procedures exist ensuring control of the authority’s activity.
(1)
OJ No C 325, 24.12.2002, p. 5.