Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001)
Guidance Note 3
Guidance for Banks on Customer Identification and Verification and Related Matters
Establishing and Verifying Identities
16. Identification and verification of subsidiaries of listed companies
Exemption 6(1) of the Exemptions, applies to companies that are listed on a stock exchange mentioned in the Schedule to the Exemptions.
This Exemption does not apply to subsidiaries, whether wholly owned or not, of listed companies.