r.7 Obligation of reporting entities to register with FIU

(1) Notwithstanding section 100(4) of the Act, every reporting entity to which the Act applies or commences its business operations in any of the businesses specified in Schedule 1 to the Act, shall register with the FIU, within 60 days from the date of coming into force of these regulations or commencement of its business operations, as the case may be.
(2) Registration of reporting entities as required under subregulation (1) shall be in an electronic manner and the procedures for registration shall be as per the guidelines issued by the FIU, from time to time.
(3) Every registration under subregulations (1) and (2) shall contain the following particulars in respect of the reporting entity—
(a) the legal name of the natural person, legal person or legal arrangement;
(b) registration number, licence number, or National Identity Number;
(c) full contact details of the reporting entity;
(d) full name and contact details of the compliance officer and the alternative compliance officer; and
(e) any other particulars, as may be determined by the FIU from time to time.
(4) The particulars registered with the FIU shall be kept either wholly or partly, as may be considered appropriate by the FIU, by means of a device or facility, that—
(a) records or stores particulars magnetically, electronically or by any other means;
and
(b) permits the particulars recorded or stored to reproduce the same in legible and usable form.

(5) Where a reporting entity plans to cease its operations, it shall notify the FIU, 14 days prior to such cessation, by electronic communication with the justification and effective date of no longer being a reporting entity.