Increased Risks Of Money Laundering Or Terrorist Financing To The Gewerbeordnung 1994 (2Nd Gtv Gewo 2015)

Original Language Title: Erhöhte Risiken der Geldwäsche oder Terrorismusfinanzierung nach der Gewerbeordnung 1994 (2. GTV-GewO 2015)

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399. Regulation of the Federal Minister for Science, Research and the Economy on the increased risks of money laundering or terrorist financing in accordance with the Industrial Code of 1994 (2. GTV-GewO 2015)

On the basis of § 365s (5) of the Commercial Code 1994, BGBl. No. 194/1994, as last amended by the Federal Law BGBl. I No 81/2015, shall be arranged:

Increased risk of money laundering or terrorist financing

§ 1. (1) There is an increased risk of money laundering or terrorist financing if:

1.

the customer has his residence or registered office in one of the States listed in paragraph 2, or

2.

the person authorised to represent the client is domicated or domicated in one of the States referred to in paragraph 2; or

3.

a person to which the customer has a substantial business relationship has his residence or registered office in one of the States listed in paragraph 2, or

4.

the trustee or the beneficial owner has his residence or registered office in one of the States listed in paragraph 2, or

5.

the transaction is carried out through an account set up at a credit institution in one of the countries listed in paragraph 2.

(2) States where there is at least an increased risk of money laundering or terrorist financing are:

1.

Islamic Republic of Iran,

2.

Democratic People's Republic of Korea

3.

Republic of the Union of Myanmar,

4.

Republic of Yemen,

5.

Islamic Republic of Pakistan,

6.

Republic of Somalia,

7.

Arab Republic of Syria.

entry into force

§ 2. This Regulation shall enter into force at the end of the day of its presentation, at the same time as the Regulation of the Federal Minister for Science, Research and Economic Affairs on the increased risks of money laundering or terrorist financing shall enter into force in accordance with the Gewerbeordnung 1994 (GTV-GewO 2015), BGBl. II No 103/2015, except for force.

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