Defines who qualifies as an Authorised Representative for signing KYC documentation, outlining eligible roles, required supporting documents, and specific conditions for public companies.
An Authorised Representative (for the purpose of signing KYC paperwork) is a person who has been formally granted authority to act on behalf of the business or legal entity in financial or legal matters.
Who can be an Authorised Representative for KYC paperwork:
- Company Directors or Secretaries listed with ASIC.
- Beneficial Owners (holding more than 25% ownership).
- Authorised Signatories may also be nominated by the Director(s). These can include CFOs, Operations Managers, other senior executives, or trusted employees, provided that a signed Letter of Authority is supplied.
Supporting documentation (e.g., Letter of Authority) must clearly state that the person is authorised to sign and act on behalf of the business for the KYC process.
Venue managers or staff without formal authorisation are generally not permitted to sign KYC documents.
Public company – For public companies, the CEO (or other senior executives such as the CFO or Company Secretary) often acts as the authorised representative of the company. In these cases, a Director’s signature is not required, provided the individual is:
- Officially appointed to their role (e.g., CEO or CFO of the listed/public company), and
- Authorised to act on behalf of the company under the company’s constitution, board delegation, or through a formal Letter of Authority or Board Resolution.
This delegation is standard practice, as the CEO typically has legal authority to bind the company for operational and regulatory matters, including the signing of KYC paperwork.