S.L. 386.34 Art. 4Functions of the repository. Voluntary use of the repository.      Cap. 373.

(1) The repository shall enable a user, subject to any procedures as may be established by the Registrar, or any limitation imposed by these regulations to:

(a) securely upload, submit, store, retrieve, rectify, erase, and present data and information which a user elects to make available within the repository for the purpose of enabling a relying party to access, use or otherwise process such data and information for specific purposes;

(b) under the control of a user, and in accordance with the user’s right of selective disclosure as prescribed under these regulations, make available information in a digital form to a relying party in a secure and verifiable manner which ensures the integrity and authenticity of such data and information;

(c) communicate with relying parties through the repository for the purpose of providing such with supplementary data or clarifications;

(d) generate and compile, by means facilitated through the repository, reports derived from the data and information related to the user, and to make available such reports to a relying party in accordance with these regulations;

(e) access a log of all actions carried out by the user within the repository, including a list of each relying party to which the user has elected to make available data, information and reports, and where applicable, the data, information and reports that were made available to each specific relying party; and

(f) carry out such other actions as may be necessary for the proper implementation of these regulations and the attainment of the purposes of the repository, in accordance with these regulations, as may be determined by the Registrar.

(2) The repository shall enable relying parties, subject to the user’s selective disclosure under these regulations to:

(a) request, obtain, collect and receive data, information and reports made available through the repository by users;

(b) access and process such data, information and reports for the purpose of enabling the relying party to perform its duties and functions under any applicable laws;

(c) retain a log, in accordance with any procedures as may be established by the Registrar, of the data, information and reports received or accessed by them through the repository;

(d) communicate with users and other relying parties through the repository for the purpose of requesting supplementary data or clarifications; and

(e) carry out such other actions as may be necessary for the proper implementation of these regulations and the attainment of the purposes of the repository in accordance with the regulations, as may be prescribed by the Registrar.

(3) The use of the repository by users and relying parties shall be voluntary and shall not:

(a) be interpreted to constitute a mandatory means for the uploading, submission, storage, requesting or receipt of data and information;

(b) preclude or restrict the submission, provision or receipt of such data and information by any other lawful means;

(c) give rise to any presumption that a relying party is required to request or obtain data and information exclusively through the repository; or

(d) affect the validity, admissibility or legal effect of any data and information exchanged in any manner outside the repository by any other lawful means.

(4) These regulations shall not be construed as limiting the rights and obligations of a relying party to conduct due diligence, verification or information requests by means other than the repository, in accordance with the Prevention of Money Laundering

Act and its subsidiary regulations.