1. Non-Profit Organizations shall, in coordination with the concerned Supervisory Authority, undertake the following: a. Apply focused, proportionate, and risk-based measures approved by the concerned Supervisory Authority; b. Apply best practices approved by the concerned Supervisory Authority to address vulnerabilities, in a manner that enables them to protect themselves against misuse for the Financing of Terrorism; c. Establish clear policies to enhance accountability, transparency, integrity, and public confidence in their activities and management; d. Conduct Transactions through regulated financial channels whenever possible, taking into account differences in financial sector capacities in various countries and the risks associated with the use of cash, in accordance with applicable legislation in the State. 2. The obligations set out in Clause (1) of this Article shall apply to persons acting on behalf of, or for the benefit of, Non-Profit Organizations.
Interpretation and application must be checked against the official text and current version.