A contract may be executed by a company:
(1) by the affixing of its common seal1; or
(2) by being signed, on behalf of the company, by: (a) two authorised signatories2; or (b) a director of the company in the presence of a witness who attests the signature3.
The validity of an act done by a company is not to be called into question on the ground of lack of capacity by reason of anything in the company's constitution4. Where a person deals with a company in good faith, the power of the directors to bind the company, or authorise
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You may apply simplified customer due diligence (SDD) measures in relation to particular business relationships or transactions which you determine present a low risk of money laundering or terrorist financing, having taken into account:•your organisation-wide risk assessment—see Practice Note:
Background to the Single RulebookHistorically, the European Commission (Commission) favours using Directives (rather than Regulations) to set out its legislation in respect of the financial services sector. However, Directives, allowing Member States greater flexibility in how they implement
Tipping off and prejudicing an investigationIt would undermine the benefit to the authorities if, a suspicious activity report (SAR) having been made, the alleged offender were to be made aware of the interest in their activities so that they could take steps to cover up their misdeeds or disappear.
Deceit—what is it?A deceit occurs when a misrepresentation is made with the express intention of defrauding a party, subsequently causing loss to that party.The elements of a claim in deceit are:•a clear false representation of fact or law•fraud by the maker, in the sense that they knew that the
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