PART 3Customer Due Diligence
CHAPTER 1Customer due diligence: general
Exception for trustees of debt issues32
1
A relevant person—
a
who is appointed by the issuer of instruments or securities specified in paragraph (2) as trustee of an issue of such instruments or securities; or
b
whose customer is a trustee of an issue of such instruments or securities,
is not required to apply the customer due diligence measure referred to in regulation 28(3) and (4) in respect of the holders of such instruments or securities.