Appendix V - Certificate of Compliance - Money Service Business Act 2016

Summary

This is a standard form, Appendix V, issued under section 57 of the Money Service Business Act 2016. It is used by officers of a licensed money service business to certify annually that the business has been conducted in compliance with the Act's minimum licensing criteria and applicable Codes of Practice.

• Purpose: A certificate of compliance signed by officer(s) of the licensed undertaking, confirming compliance for the financial year just ended and noting any exceptions.
• Content: Identifies the licence holder, names and positions of signing officers, the financial year end date, any compliance exceptions, and signature(s) and date(s).
• Deadline: Must be delivered to the Authority within 4 months from the end of the licensee's financial year.
• Penalty for default: Failure to deliver the certificate as required exposes the undertaking to a civil penalty of up to $5,000 for each week or part week of default, under section 57(2) of the Act.

Key obligations

• Every licensed money service business must deliver a certificate of compliance to the Authority within 4 months from the end of its financial year.
• Officers signing the certificate must confirm, to the best of their knowledge and belief, that the business has been conducted in accordance with the minimum licensing criteria in the Act and relevant Codes of Practice, detailing any exceptions.

Applies to

money service business licensees

Deadlines

• within 4 months from the end of its financial year: Deadline for a licensed undertaking to deliver a certificate of compliance to the Authority