AML 16 AML 16 Transitional Rules
AML 16.1 AML 16.1 Application
This chapter applies to every person to whom a provision of the Previous Regime applied.
For the purposes of this chapter:(a) "
Ancillary Service Provider" has the meaning that it had under the Previous Regime;(b) "Commencement Date" means 14 July 2013;(c) "Current Regime" means the Rules in force on the Commencement Date;(d) " DNFBP" has the meaning that it had in DNF chapter 2 under the Previous Regime; and(e) "Previous Regime" means the Rules that were in force immediately prior to the Commencement Date.
AML 16.2 AML 16.2 General
Relevant Personmust continue to maintain any records required to be maintained under the Previous Regime until such time as the requirement to hold such record would have expired had the Previous Regime still been in force.
AML 16.3 AML 16.3 Specific relief — Ancillary Service Provider and DNFBPs
A person who, immediately prior to the Commencement Date, was an
Ancillary Service Provideror was registered as a DNFBPis deemed, on the Commencement Date, to be registered as a DNFBPfor the purposes of the Current Regime.