Politically Exposed Person

Section 37 of The Criminal Justice Money Laundering and Terrorist Financing Act 2010 which commenced on the 15th of July 2010 states that:

“Politically exposed person” means an individual who is, or has at any time in the preceding 12 months been, entrusted with a prominent public function, including either of the following individuals (but not including any middle ranking or more junior official):

  1. A specified official;
  2. A member of the administrative, management or supervisory body of a state-owned enterprise;

“Specified official” means any of the following officials (including any such officials in an institution of the European Communities or an international body):

  1. A head of state, head of government, government minister or deputy or assistant government minister;
  2. A member of a parliament;
  3. A member of a Supreme Court, constitutional court or other high level judicial body whose decisions, other than in exceptional circumstances, are not subject to further appeal;
  4. A member of a court of auditors or of the board of a central bank;
  5. An ambassador, chargé d’affairs or high-ranking officer in the armed forces.

“Close associate” of a politically exposed person includes any of the following persons:

  1. Any individual who has joint beneficial ownership of a legal entity or legal arrangement, or any other close business relations, with the politically exposed person;
  2. Any individual who has sole beneficial ownership of a legal entity or legal arrangement set up for the actual benefit of the politically exposed person;

“Immediate family member” of a politically exposed person includes any of the following persons:

  1. Any spouse of the politically exposed person;
  2. Any person who is considered to be equivalent to a spouse of the politically exposed person under the national or other law of the place where the person or politically exposed person resides;
  3. Any child of the politically exposed person;
  4. Any spouse of a child of the politically exposed person;
  5. Any person considered to be equivalent to a spouse of a child of the politically exposed person under the national or other law of the place where the person or child resides;
  6. Any parent of the politically exposed person;
  7. Any other family member of the politically exposed person who is of a prescribed class;