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ACCOUNTABLE PERSONS

LIST OF ACCOUNTABLE PERSONS

Schedule 2 of the Anti-Money Laundering Act, 2013 provides for the categories of the Accountable Persons(APs).

1. Advocates as defined in the Advocates Act notaries licensed and certified under the Notaries Public Act, accountants as defined in the Accountants Act, and other independent legal professionals and accountants.

2. A board of executors or a trust company or any other person that invests keeps in safe custody, controls, or administers trust property within the meaning of the Trustees Act.

3. Casinos (which also includes internet casinos).

4. Real estate agents.

5. Dealers in precious metals and gems.

6. Trust and company service providers not covered elsewhere in this Schedule which as a business provide any of the following services to third parties— (a) acting as a formation agent of legal persons; (b) acting as (or arranging for another person to act as) a director or secretary of a company, a partner of a partnership, or a similar position in relation to other legal persons; (c) providing a registered office, business address or accommodation, correspondence or administrative address for a company, a partnership or any other legal person or arrangement; (d) acting as (or arranging for another person to act as) a trustee of an express trust; (e) acting as (or arranging for another person to act as) a nominee shareholder for another person.

7. A financial institution as defined in the Financial Institutions Act. This refers to sole practitioners, partners or employed professionals within professional firms. It is not meant to refer to ‘internal’ professionals that are employees of other types of business nor to professionals working for government agencies.

8. A broker, dealer or investment advisor licensed under the Capital Markets Authority Act.

9. An insurance company licensed under the Insurance Act.

10. Registrars of Companies.

11. Registrars of Land.

12. The Uganda Investment Authority.

13. All licensing authorities in Uganda.

14. Any other person who conducts the business of: (a) acceptance of deposits and other repayable funds from the public including private banking; (b) lending including, inter alia, consumer credit, mortgage credit, factoring with or without recourse, and finance of commercial transactions); (c) financial leasing (not including financial leasing arrangements in relation to consumer products); (d) the transfer of money or value; (e) issuing and managing means of payment e.g., credit and debit cards, cheques, traveller’s checks, money orders, bankers’ drafts, electronic money; (f) financial guarantees and commitments; (g) trading in: (i) money market instruments (cheques, bills, CDs, derivatives, etc.), (ii) foreign exchange, exchange, interest rate and index instruments, (iv) transferable securities, (v) commodity futures trading; This applies to financial activity in both the formal and informal sector, e.g., alternative remittance activity. It does not apply to any natural or legal person that provides other persons solely with message or other support systems for transmitting funds. (h) participation in securities issues and provision of financial services related to such issues; (i) individual and collective portfolio management; (j) safekeeping and administration of cash or liquid securities on behalf of other persons; (k) otherwise investing, administering or managing funds or money on behalf of other persons; (l) underwriting and placement of life insurance and other investment related insurance , including non-life insurance business; (m) money and currency changing.

15. Non-governmental organisations, churches and other charitable organisations. This applies to both insurance undertakings and to insurance intermediaries (agents and brokers).