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The Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2007
The Money Laundering Regulations require auctioneers and estate agents to verify the identity of all vendors and purchasers and those that bid for auction properties. We are required to seek proof of the buyer’s identity, a practice which is in line with banks, IFAs and other providers of professional services.
All those attending our auctions with the intent to bid must provide documentation that proves their identity and address. You would not be able to register and bid without this documentation.
In the case of individuals, acceptable form of documentation are as follows:
Proof of Identity:
Current valid, signed and original passport
Current valid and signed full UK/EU Photo Card Driving Licence*
Resident Permit issued by Home Office to EU Nationals
A valid identity card (Police warrant card, Prison officer, HM forces, government or local authority issued)
A Firearms Licence
Proof of Address:
An original utility bill issued within the last three months (but not mobile phone bills)
An original Local Authority tax bill for the current year
An original Bank, Building Society or Credit Union statement within the last three months
An original mortgage statement from a UK lender for the mortgage year just ended
An original HMRC tax notification, self-assessment statement or tax demand
*These items may be used as evidence of identity or address, but not both.
For private limited companies and partnerships, we will require all of the following:
a) The company registration number
b) Registered address
c) Evidence of the individual’s authority to act on behalf of the company (a letter of authority on company letterhead).
If you are bidding on someone else’s behalf, we will require proof of identity and address for the bidder and certified copies of the buyer’s identity and address. This will be requested at the auction.
Proof of ID and address documents must be certified by one of the following persons or institutions who is not a friend or relative of the person whose documents are being certified:
Minister of Religion
Solicitor or Notary
Teacher or Lecturer