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\qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3368585 \fs20\lang1033\langfe5129\cgrid\langnp1033\langfenp5129 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid1336197\charrsid3368585 COOK ISLANDS
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3368585 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid1336197\charrsid3368585 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3368585 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid3368585 FINANCIAL TRANSACTIONS REPORTING ACT}{\b\fs24\lang2057\langfe5129\langnp2057\insrsid1449097  }{
\b\fs24\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid3368585 2003}{\b\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid3368585 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3368585 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3368585 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 ANALYSIS}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3368585 {\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3368585 {\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid8868295 PART 1
\par PRELIMINARY
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14421752 {\fs24\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid16670511 
\par 1. Short title and commencement
\par 2. Definitions
\par 3. Application}{\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 
\par }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid1257608 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3368585 {\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid8868295 PART 2
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1257608 {\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid8868295 OBLIGATIONS TO KEEP}{\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid1257608\charrsid8868295  }{
\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid8868295 RECORDS AND VERIFY IDENTITY
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14421752 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid2383189 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid16670511 4. Financial institution must identify and verify customer
\par 5. Necessity of identification to conduct business
\par 6. Financial institution must maintain records
\par 7. Financial institution must maintain account in true name
\par 8. Financial institution must monitor transactions
\par 9. Banks and money transmission service providers must include originator information
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid2383189 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3368585 {\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid8868295 PART 3
\par OBLIGATIONS TO REPORT
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14421752 {\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid16670511 10. Financial institution must report financial transactions
\par 11. Financial institution must report suspicious transactions
\par 12. Suspicious transaction report by supervisory authority or auditor
\par 13. False or misleading statements
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid16670511 14. Disclosure of suspicious transaction reports and other information
\par 15. Protection of identity of persons and information
\par 16. Protection of persons reporting in good faith
\par 17. Privileged communication
\par 18. Other preventative measures by financial institution
\par 19. Defences}{\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid16670511 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3368585 {\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid8868295 PART 4
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1257608 {\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid8868295 FINANCIAL}{\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid1257608\charrsid8868295  }{
\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid8868295 INTELLIGENCE UNIT
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\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid16670511 20. FIU established
\par 21. Minister to appoint Head
\par 22. Functions, powers and duties of }{\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 Head}{\fs24\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid16670511 
\par 23. Head may delegate
\par 24. Head to hold no other office
\par 25. Removal or suspension from office
\par 26. Head must report to Minister
\par 27. Functions and powers of FIU
\par 28. Agreements and arrangements by FlU
\par 29. Disclosure to foreign Agencies
\par 30. Power to examine
\par 31. Power to enforce compliance
\par 32. Audit
\par 33. Non-disclosure
\par 34. Immunity
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3368585 {\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid8868295 PART 5
\par OTHER MATTERS
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14421752 {\fs24\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid16670511 
\par 35. Overriding of secrecy
\par 36. Act to prevail if conflict with other specified Acts
\par 37. }{\fs24\lang2057\langfe5129\langnp2057\insrsid15100853\charrsid16670511 Anonymous account or account in fictitious or false name}{\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8858508 38. }{\fs24\lang2057\langfe5129\langnp2057\insrsid8858508\charrsid8858508 Liability of employers or principals}{\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8858508 39}{\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 .}{\fs24\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid3368585  }{\fs24\lang2057\langfe5129\langnp2057\insrsid8858508\charrsid8858508 
Liability of directors}{\fs24\lang2057\langfe5129\langnp2057\insrsid2373721 ,}{\fs24\lang2057\langfe5129\langnp2057\insrsid8858508\charrsid8858508  controllers and officers of bodies corporate}{
\fs24\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid8858508 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8858508 40}{\fs24\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid16670511 . Regulat}{\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 ions
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3368585 {\fs24\lang2057\langfe5129\langnp2057\insrsid8858508 41. }{\fs24\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid16670511 Transit}{
\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 ional}{\fs24\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid16670511 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3368585 {\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 --------}{\fs24\lang2057\langfe5129\langnp2057\insrsid1257608 ------------------------}{
\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3368585 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid3368585 2003, No. 10
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3368585 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid3368585 
An Act to facilitate the prevention, detection, investigation and prosecution of money laundering and other serious offences and the enforcement }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid13250213 of the }{
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid3368585 Proceeds of Crime Act 2003 by -
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3368585 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid3368585 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid3368585 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid1449097 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511\charrsid1449097  }{
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid3368585 establishing a financial intelligence}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid13250213  unit to collect, analyse, and}{
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid3368585  disseminate suspicious transactions }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid13250213 reports and other financial }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid14187181 
information; }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid3368585 and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3368585 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid3368585 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid3368585 {\fs24\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid1449097 (b) }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid3368585 
requiring financial institutions to undertake due diligence measures and other measures to combat money laundering}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid3368585 .}{
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid3368585 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid16670511 
\par }\pard \qr \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3368585 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (7 May 2003
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 
\par }{\b\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid14187181 BE IT ENACTED}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  by the Parliament of the 
Cook Islands in Session assembled, and by the authority of the same, as follows:}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3368585 {\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid14187181 PART 1
\par PRELIMINARY
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 1.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid3368585 Short title and commencement}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid2373721  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 - (1) This Act may be cited as the Financial Transactions Reporting Act 2003.}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
This Act comes into force on a date to be determined by the Queen}{\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 s Representative by Order in Executive Council.}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 
\par 2. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid3368585 Definitions}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  - (1)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 In this Act, unless the context otherwise requires,}{\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid3368585\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 account}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  means any facility or arrangement by which a financial institution does any l or more of the following -
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 accepts deposits of currency;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 allows withdrawals of currency;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (c)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 pays cheques or payment orders drawn on the financial institution, or collects cheques or payment orders on behalf of a person other than the financial institution;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 and includes any facility or arrangement for a safety deposit box or for any other form of
 safe deposit;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 business relationship}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
 means a continuing relationship between 2 or more parties at least 1 of whom is a financial institution acting in the course of that financial institution}{\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 '}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 s business in providing services to that other party;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 cash}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  means any coin or paper money that is designated as legal tender in the country of issue; and includes bearer bonds, travellers}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  cheques, postal notes and money orders;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 Court}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  means the High Court of the Cook Islands and its appellate courts;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 customer}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  includes -
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid3368585 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 a person engaged in a business relationship; or}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 the person in whose name a transaction or account is arranged, opened, or undertaken; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (c)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 a signatory to a transaction or account; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (d)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 any person to whom a transaction has been assigned or transferred; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (e)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 any person who is authorised to conduct a transaction; or}{\fs24\lang2057\langfe5129\langnp2057\insrsid2373721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid2373721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (f}{\fs24\lang2057\langfe5129\langnp2057\insrsid2373721 )}{
\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 any person on whose behalf the account or transaction is being conducted; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (g)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 any other person that may be prescribed;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 data}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  means representations, in any form, of information or concepts;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 document}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  has the same meaning given by section 3 of the Proceeds of Crime Act 2003;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 financial institution}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  means a person that carries on the principal business of doing any of the following -
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 accepting deposits and other repayable funds from the public or banking business as defined in the Banking Act 2003;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 lending, including consumer credit, mortgage credit, factoring (with or without recourse), and financing of commercial transactions;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (c)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 financial leasing;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (d)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 providing money transmission services;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (e)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 issuing and administering means of payment (for example, credit cards, trave}{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 l}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 lers}{\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  cheques and bankers}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712  drafts);
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (f)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 entering into or issu}{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 ing guarantees and commitments;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (g)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 trading for the institution}{\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
s own account, or for account of customers, in money market instruments (for example cheques, bills, certificates of deposit), foreign exchange, financial and commodity futures and options, exchange and interest rate instrument}{
\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 s, and transferable securities;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (h)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 underwriting share issues and participation in those issues and the provision of financial services related to those issues;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (i) money-broking;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (j)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 providing portfolio management and advice;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (k)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 safekeeping and administration of cash, liquid investments and securities;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (}{\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 l}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 )}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 providing safe custody services;}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
(m) insurance, an insurance intermediary (which includes an agency or brokering business), a securities dealer or a futures broker;}{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
(n) trustee administrator or investment manager of a superannuation scheme but excluding closed-ended schemes;}{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 (o) dealing in bullion;}{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
(p) operating a gambling house, casino or lottery, including an operator who carries on operations through the internet;}{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 (q) acting as a trustee company as defined in the Trustee Companies Act 1981;}{
\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 (r) the holder of an offshore insurance licence;}{
\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
(s) acting as a lawyer or an independent legal professional, but only to the extent that the lawyer or the independent legal professional gives investment advice or receives funds in the course of his or her business for the purpose of deposit or 
investment, or settling real estate transactions (whether or not the funds are deposited into a separate trust account);}{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
(t) acting as an accountant, but only to the extent that the accountant gives investment advice or receives funds in the course of his
 or her business for the purposes of deposit or investment (whether or not the funds are deposited into a separate trust account);}{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 (u) dealing in real estate or high-value items including antiques;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 (v) acting as a friendly society;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 (w) otherwise investing, administrating or managing funds or money on behalf of another person;}{
\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 (x) underwriting and placement of life insurance and other investment related insurance;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 (y) money and currency changing;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 (z) acting as a dealer in precious metals and stones, including pearls;}{
\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 (aa) acting as investment advisers;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 (bb) incorporating domestic companies, partnerships or trusts;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 (cc) any other business that may be prescribed by the Minister;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 FIU}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  means the Financial Intelligence Unit established under section 20;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 Head}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  means the Head of the FIU appointed under section 21;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 Minister}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
 means the Minister of Finance, and includes any member of Cabinet or Minister of the Cook Islands Government acting for him or her or in his or her place;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 money laundering offence}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  means an offence against section 280A of the Crimes Act 1961;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 Money Laundering Reporting Officer}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  means a person who}{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 is a member of the management of the financial institution; and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 has been approved by the FIU after consultation with any supervisory authority;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 money transmission services}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  means a person (other than a financial institution) carrying on a business of -
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 exchanging cash or the value of money; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 collecting, holding, exchanging or remitting funds or the value of money, or otherwise negotiating transfers of funds or the value of money, on behalf of other persons; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (c)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 delivering funds; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (d)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 issuing, selling or redeeming travellers}{\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
 cheques, money orders or similar instruments;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid9200599 {\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 prescribed}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  means prescribed by regulations made under this Act;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 property}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  has the same meaning given by section 3 of the Proceeds of Crime Act 2003;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 record}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  means any material on which data is recorded 
or marked and that is capable of being read or understood by a person, computer system or other device;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 serious offence}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  has the same meaning given by section 3 of the Proceeds of Crime Act 2003;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 supervisory authority}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  means any institution or authority established in the Cook Islands to regulate or supervise a financial institution;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 suspicious transaction report}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  means a report required to be made under section 11 or 12;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 transaction}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  includes, but is not limited to -
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 any deposit, withdrawal, exchange, or transfer of funds (in whatever currency denominated), whether:
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (i)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in cash; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (ii)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 by cheque, payment order or other instrument; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (iii)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 by electronic or other non-physical means;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 the use of a safety deposit box or any other form of safe deposit;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (c)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 any payment made in satisfaction, in whole or in part, of any contractual or other legal obligation;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (d)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 any other transactions that may be prescribed.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 In this Act a reference to
 the law of the Cook Islands or any foreign country, includes a reference to a written or unwritten law of, or in force in, any part of the Cook Islands or that foreign country, as the case may be.
\par 
\par 3.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid4344712 Application}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
 - (1) This Act applies in relation to business relationships, accounts and a transaction conducted through a financial institution on or after the commencement of this Act.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
A financial institution or other person, as the case may be, must comply with the provisions of this Act, despite any other Act or law to the contrary.
\par 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7028595 {\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7028595\charrsid7028595 PART 2
\par OBLIGATIONS TO KEEP RECORDS AND VERIFY IDENTITY
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid7028595 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 4.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid4344712 
Financial institution must identify and verify customer}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (1) When establishing a business relationship, opening an accou
nt or conducting a transaction, a financial institution must, as soon as practicable and before any person becomes a customer, identify and verify the customer on the basis of any official or other identifying document or other evidence as is reasonably c
apable of verifying the identity of the customer.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 Without limiting the generality of subsection (1) -

\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 if the customer is a legal entity, a financial institution must adequately verify its legal existence and structure, including information relating to:
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (i)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 the customer}{\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 s name, legal form, address, and directors;

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (ii)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 the principal owners and beneficiaries; }{\fs24\lang2057\langfe5129\langnp2057\insrsid12917914 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12917914 {\fs24\lang2057\langfe5129\langnp2057\insrsid12917914 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid12917914 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (iii)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 provisions regulating the power to bind the entity; and to verify that any person purporting to act on behalf of the customer is authorised to do so, and identify those persons.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 the official or identifying document or other evidence or procedures required for the verification of any particular customer or class of customers may be prescribed.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (3)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 A financial institution must -
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 obtain information on the purpose; and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 conduct on-going due diligence on the business relationship with its customer; and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (c)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 conduct on-going scrutiny of any transaction undertaken throughout the course of the business relationship with a customer to ensure that the transaction being conducte
d is consistent with the financial institution}{\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 s knowledge of the customer, the customer}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 s business and risk profile, including where necessary, the source of funds.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (4)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
If a person conducts a transaction, other than a one-off transaction, through a finan
cial institution and the financial institution has reasonable grounds to believe that the person is undertaking the transaction on behalf of any other person or persons, then, in addition to complying with subsections (1) and (2), the financial institutio
n must verify the identity of the other person or persons for whom, or for whose ultimate benefit, the transaction is being conducted.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (5)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
If a financial institution contravenes subsection (1), (2), (3) or (4) the financial institution commits an offence punishable by -
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in the case of an individual, to a fine of up to $10,000 or to a term of imprisonment of up to 12 months, or both; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in the case of a body corporate, to a fine of up to $50,000.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (6)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 Subsection (1) or (2) does not apply -
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
if the transaction is part of an existing and regular business relationship with a person who has already produced satisfactory evidence of identity, unless the financial institution has reason to suspect that the transaction is suspicious or unusual; or

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
in relation to customer verification only, if the transaction is a one-off transaction not exceeding $10,000, unless the financial institution has reason to suspect that the transaction is suspicious or unusual; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2373721 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (c)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in any other circumstances that may be prescribed.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (7)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 For the purposes of subsection (6), }{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 one-off transaction}{\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  means any transaction other than a transaction carried out in the course of an established business relationship formed by a person acting in the course of relevant financial business.}
{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 5.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid4344712 Necessity of identification to conduct business}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  - If -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 satisfactory evidence of the identity is not produced to, or obtained by, a financial institution under section 4; and}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 if, in all the circumstances, the financial }{\field\fldedit{\*\fldinst {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  HYPERLINK http://institution.is }{
\fs24\lang2057\langfe5129\langnp2057\insrsid1318331\charrsid16670511 {\*\datafield 
00d0c9ea79f9bace118c8200aa004ba90b0200000003000000e0c9ea79f9bace118c8200aa004ba90b2e00000068007400740070003a002f002f0069006e0073007400690074007500740069006f006e002e00690073002f00000000000000000000}}}{\fldrslt {
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 institution is}}}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
 of the opinion that a report should be made to the FIU reporting the matter referred to in paragraph (a),}{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712  }{\fs24\lang2057\langfe5129\langnp2057\insrsid3817188 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3817188 {\fs24\lang2057\langfe5129\langnp2057\insrsid3817188 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 the financial institution must -
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (c)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 not proceed any further with the business relationship, the opening of the account or transaction, as the case may be; and}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (d)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 report the matter to the FIU.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 6.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid4344712 Financial institution must maintain records}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  - (1) A financial institution must establish and maintain -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 records of all transactions carried out by it and correspondence relating to the transactions;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 records of a person}{\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
s identification and verification obtained in accordance with section 4;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (c)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 records of all reports made to the FIU; and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (d)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 records of all enquiries made to or by the financial institution by the FIU.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
Records required under subsection (1) are those records that are reasonably necessary to enable the transaction to be readily reconstructed at any time by the FIU or by a law enforcement agency.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (3)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
Records referred to in subsection (2) must contain particulars sufficient to identify the name, address and Occupation (or, where appropriate, business or principal activity) of each person -
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 conducting the transaction; and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 if applicable, on whose behalf the transaction is being conducted.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (4)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
In addition, the documents used by the financial institution to identity and verify each person must have sufficient particulars to identify -
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 the nature and date of the transaction;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 the type and amount of any currency involved;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (c)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 the type and identifying number of any account with the financial institution involved in the transaction;}{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (d)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 if the transaction involves a negotiable instrument other than currency, the name of
 the drawer of the instrument, the name of the institution on which it was drawn, the name of the payee (if any), the amount and date of the instrument, the number (if any) of the instrument and details of any endorsements appearing on the instrument;

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (e)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 the name and address of the financial institution, and of the officer, employee or agent of the financial institution who prepared the record.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (5)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
The records mentioned in subsection (1)(a) must be kept}{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 for a minimum period of 6 years from the date of any transaction or correspondence; and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in the Cook Islands or, if kept elsewhere, in a manner and form that allows the FIU to reproduce, within three working days, that record in usable form in the Cook Islands.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (6)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 The records mentioned in subse
ctions (1)(b), (c) and (d) must}{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 be kept -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 for a minimum period of }{\fs24\lang2057\langfe5129\langnp2057\insrsid15815210 6}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
 years from the date the account is closed or the business relationship ceases, whichever is the later; and}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in the Cook Islands or, if kept elsewhere, in a manner and form that allows the FIU to reproduce, within 3 working days, that record in usable form in the Cook Islands.}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (7)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
If a financial institution contravenes subsections (1) to (4), the financial institution commits an offence punishable by, -
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in the case of an individual, to a fine of up to $5,000;}{\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in the case of a body corporate, to a fine of up to $20,000.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid4344712 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (8)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
A copy of any record required to be kept under this Act may}{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 be kept -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 

\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in a machine-readable form, if a paper copy can be readily produced from it; or}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in an electronic form, if a paper copy can be readily produced from it and an electronic signature of the person who keeps the record is retained.}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 7.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid10701284 
Financial institution must maintain account in true name}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  - (1) A financial institution must maintain any accounts in the true name of the account holder.}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
A financial institution must not open, operate or maintain any anonymous account.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (3)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
A financial institution must not open, operate or maintain any account which the financial institution ought reasonably to have known is in a fictitious or false name.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (4)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
If a financial institution contravenes subsections (1), (2) or (3), the financial institution commits an offence punishable by, -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in the case of an individual, to a fine of up to $10,000;}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in the case of a body corporate, to a fine of up to $50,000.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (5)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 For purposes of this section, -}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 an acc}{\fs24\lang2057\langfe5129\langnp2057\insrsid15815210 ount is in a false name if the }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
person, in opening the account, or becoming a signatory to the account, uses a name other than a name by which the person is commonly known;}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 an account is operated in a false name if the person operating the account does any act or thing in relation t
o the account (whether by way of making a deposit or withdrawal or by way of communication with the financial institution concerned or otherwise) and, in doing so, uses a name other than a name by which the person is commonly known; and}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (c)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 an account is in a false name if it was opened in a false name, whether before or after the commencement of this Act.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 8.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid10701284 Financial institution must monitor transactions}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  - (1) A financial institution must pay special attention to -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 any complex, unusual or large tra
nsactions or attempted transactions or any unusual patterns of transactions or attempted transactions that have no apparent or visible economic or lawful purpose; or}{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 business relationships and transactions with persons in jurisdictions that do not have adequate systems in place to prevent or deter money laundering; or}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (c)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 wire transfers that do not contain complete originator information.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
In relation to subsection (1), a financial institution -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 must examine, as far as possible, the background and purpose of the transactions or business relations and record its findings in writing; and}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 must report those findings to the FIU or to a law enforcement agency, to assist the FIU or the law enforceme
nt agency in any investigation relating to a serious offence or a money laundering offence.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 9.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid10701284 
Banks and money transmission service providers must include o}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16217094 rigi}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid10701284 nator infor}{
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid10701284 m}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid10701284 ation}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
 - A financial institution must include accurate originator information and other related messages on electronic funds transfers and other forms of funds transfers, and that information must remain with the transfer.}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10701284 {\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid15815210 PART 3
\par OBLIGATIONS TO REPORT
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 10.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16217094 Fina
ncial institution must report financial transactions}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
- (1) A financial institution must, within 3 working days, report to the FIU, within a time and in the form and manner that may be prescribed, -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 any transaction of an amount in cash exceeding $10,00
0, or any other amount that may be prescribed, in the course of a single transaction, unless the recipient and the sender is a financial institution;}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
the sending out of the Cook Islands at the request of a customer of any electronic funds transfer exceeding that $10,000, or any other amount that may be prescribed in the course of a single transaction;}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 (c) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
the receipt from outside the Cook Islands of an electronic funds transfer, sent at the request of a customer, of an amount exceeding $10,000, or other amount as may be prescribed, in the course of a single transaction.}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
Nothing in paragraph (1)(a) overrides requirements relating}{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 to suspicious transactions reports.}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (3)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
Paragraph (1)(b) does not apply when the financial institution sends an electronic funds transfer to a person or entity in the Cook Islands, even if the final recipient is outside the Cook Islands.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 

\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (4)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
Paragraph (1)(c) does not apply when the financial entity receives an electronic funds transfer from a person or entity in the Cook Islands, even if the initial sender is outside the Cook Islands.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 

\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (5)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 If a financial institution contravenes subsection }{
\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 (1), the }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 financial institution commits an offence punishable by -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 (a) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
in the case of an individual, to a fine of up to $10,000;}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
in the case of a body corporate, to a fine of up to $50,000.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (6)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
Every person commits an offence who conducts 2 or more transactions or electronic funds transfers that are of an amount below the threshold set out in subsection (1) if, having regard to the
 matters in subsection (7), it would be reasonable for the Court to conclude that the person conducted the transactions, or transfers in that manner or form, for the sole or dominant purpose of ensuring, or attempting to ensure, that no report in relation
 to the transactions or transfers is required to be made.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (7)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 The matters referred to in subsection (6) are -}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 the manner and form in which the transactions or transfers were conducted, including, without limiting the generality of this, all or any of the following:}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (i)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 the value of the currency involved in each transaction or transfer;}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (ii) the aggregated value of the currency involved in the transactions or transfers;}{
\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (iii) the period of time over which the transactions or transfers occurred;}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (iv)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 the interval of time between any of the transactions or transfers;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (v)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 the locations at which the transactions or transfers were initiated or conducted; and}{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 any explanation made by the person about the manner or form in which the transfers were conducted.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (8)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 Every person who contr}{
\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 avenes subsection (6) is liable}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  on}{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 conviction -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in the case of an individual, to a fine of up to $10,000 or a term of imprisonment of up to 12 months, or both;}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in the case of a body corporate, to a fine of up to $50,000.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
\par 11.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid10701284 Financial institution must report suspicious transactions}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 - (1) If a financial institution has reasonable grounds to suspect that information that the financial institution has concerning any transaction or}{
\fs24\lang2057\langfe5129\langnp2057\insrsid10701284  attempted transaction may be -
\par 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 relevant to an investigation or prosecution of a person or persons for a serious offence or a money laundering offence; or}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 of assistance in the enforcement of the Proceeds of Crime Act 2003; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (c)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 related to the commission of a serious offence or a money laundering offence,}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
the financial institution must, as soon as practicable after forming that suspicion but no later than 2 working days, report the transaction or attempted transaction to the FIU.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
If a financial institution fails without reasonable excuse to comply with subsection (1), the financial institution commits an offence punishable by, -
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in the case of an individual, to a fine of up to $20,000 or a term of imprisonment of up to 2 years, or both;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in the case of a body corporate, to a fine of up to $100,000.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (3)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 A report under subsection (1) must -}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 except as provided for in subsection (4), be in writing and may be given by way of personal delivery, fax, or electronic mail or any other manner that may be prescribed; and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 be in any form and contain any details that may be prescribed; and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (c)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 contain a statement of the grounds on which the financial institution holds the suspicion; and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (d)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 be signed or otherwise authenticated by the financial institution.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (4)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
If the urgency of the situation requires, a report under subsection (1) may be made orally but the financial institution must, within 3}{\fs24\lang2057\langfe5129\langnp2057\insrsid9461447  working days, forward to the FIU}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  a report that complies with subsection (3).}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (5)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
If requested to do so by a law enforcement agency, a financial institution that has made a re}{\fs24\lang2057\langfe5129\langnp2057\insrsid9461447 port to the FIU must give the FIU}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
 or a law enforcement agency that is carrying out an investigation arising from, or relating to, the information contained in the report any further information that it has about the transaction or attempted transaction or the parties to the transaction.

\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (6)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
If a financial institution fails without reasonable excuse to comply with subsection (5), the financial institution commits an offence punishable by, -
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in the case of an individual, to a fine of up to $20,000, or a term of imprisonment of up to 2 years; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in the case of a body corporate, to a fine of up to $100,000.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 12.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16217094 
Suspicious transaction report by supervisory authority or auditor}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
 - (1) A supervisory authority must report any transaction or attempted transaction to the FIU, within 2 working days, if it has reasonable grounds to suspect that information that it has concerning that transaction or attempted transaction may be -}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 (a) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
relevant to an investigation or prosecution of a person or persons for a serious offence or a money laundering offence;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
of assistance in the enforcement of the Proceeds of Crimes Act 2003;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 (c) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
related to the commission of a serious offence or a money laundering offence.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
An auditor of a financial institution must report any transaction or attempted transaction to the FIU, within 2 working days, if it has reasonable grounds to suspect 
that information that it has concerning that transaction or attempted transaction may be -
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 relevant to an investigation or prosecution of a person or persons for a serious offence or a money laundering offence;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 of assistance in the enforcement of the Proceeds of Crimes Act 2003;}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (c)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 related to the commission of a serious offence or a money laundering offence.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 13.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid10701284 False or misleading statements}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  - A person who, in making a report under sections 10, 11 or 12, makes an
y statement that the person knows is false or misleading in any material particular or omits from any statement any matter or thing without which the person knows that the statement is false or misleading in any material particular commits an offence puni
shable by -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in the case of an individual, to a fine of up to}{\fs24\lang2057\langfe5129\langnp2057\insrsid10701284  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
$20,000 or a term of imprisonment of up to 2 years; or}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid10701284\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10701284 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in the case of a body corporate, to a fine of up to $100,000.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
\par 14.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid10701284 Disclosure of suspicious transaction reports and other information}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  - (1) A financial institution, its officers, employees or agents or any other person must not disclose to any person -
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 that a report under section 11(1) or 12 has been or may be made, or further information has been given under section 11(5); or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 that the financial institution has formed a suspicion in relation to a transaction for purposes of section 11(1); or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (c)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 any other information from which the person to whom the information is disclosed could reasonably be expected to infer that a susp
icion has been formed or that a report has been, or may be, made.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid90316 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511\charrsid90316  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid90316 
Subsection (1) does not apply to disclosures made to -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid90316 
\par 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid90316 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511\charrsid90316  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid90316 the FIU; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid90316 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 an officer or employee or agent of the financial institution for any purpose connected with the performance of that person}{\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 '}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 s duties; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (c)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 a barrister or solicitor for the purpose of obtaining legal advice or representation in relation to the matter; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (d)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 a supervisory authority of the financial institution for the purposes of carrying out the supervisory authority}{\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 '}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 s functions.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (3)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
No person referred to in subsection (2)(b) to whom disclosure of any information to which that subsection applies has been made must disclose that information except to another person of the kind referred to in that subsection, for the purpose of -
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 the performance of the first-mentioned person}{\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 s duties; or

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 obtaining legal advice or representation in relation to the matter.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (4)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
No person referred to in subsection 2(c) to whom disclosure of any information to which that subsection applies has been made must disclose that information except to a person of the kind referred to in that subsection for the purpose of giving legal advi
ce or making representations in relation to the matter.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (5)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
Subject to this Act, nothing in any of subsections (1) to (3) prevents the disclosure of any information in connection with, or in the course of, proceedings before a court.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (6)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 If a person contr
avenes subsection (1), the person commits an offence punishable by, -
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in the case of an individual, to a fine of up to $20,000 or a term of imprisonment of up to 2 years; or both
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in the case of a body corporate, a fine of up to $100,000.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (7)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
If a person contravenes subsection (1) with intent to prejudice an investigation of a serious offence or a money laundering offence or for the purpose of obtaining directly or indirectly an advantage or a pecuniary gain for himself or herself or for any o
ther person, the person commits an offence punishable by, -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in the case of an individual, to a fine of up to $50,000 or a term of imprisonment of up to 5 years;}{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in the case of a body corporate, to a fine of up to $150,000.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 15.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16217094 Protection of identity of persons and information}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  - (1) This section applies to reports made under sections 5, 8, 10, 11 and 12 and to any other information given to the FIU.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
A person must not disclose any information that will identify, or is likely to identif}{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 y any of the following except fo}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
r the purposes specified in subsection (3) -
\par 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 any person who has handled a transaction in respect of which a report has been made; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 any person who has prepared a report; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (c)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 any person who has made a report; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (d)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 any information contained in a report or information provided under section 11(5).
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid222287\charrsid222287 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5902176\charrsid222287 (3) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid222287 The purposes referred to in subsection (2) are -
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid222287 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid222287 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511\charrsid222287  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid222287 the investigation or prosecution of a person or persons for a serious offence or a money laundering offence; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid222287 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid222287 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511\charrsid222287  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid222287 the enforcement of }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid222287 the Proceeds of Crime Act 2003;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid222287 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid222287 (c)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511\charrsid222287  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid222287 the administration of the Mutual Assistance in Criminal Matters Act 2003.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid222287 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid222287 (4)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511\charrsid222287  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid222287 
No person is required to disclose any information to which this section applies in any judicial proceedings unless the judge or other presiding officer is satisfied that the disclosure}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
 of the information is necessary in the interests of justice.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (5)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
Nothing in this section prohibits the disclosure of any information for the purposes of the prosecution of any offence against any of the provisions of section 14.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (6)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
If a person contravenes subsection (2), the person commits an offence punishable by, -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in the case of an individual, to a fine of up to $20,000 or a term of imprisonment of up to 2 years; or both}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in the case of a body corporate, a fine of up to $100,000.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 16.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16217094 Protection of persons reporting in good faith}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  - (1) No civil, criminal or disciplinary proceedings may be taken against -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 a financial institution, an auditor or supervisory authority of a financial institution; or}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 an officer, employee or agent of a financial institution, an auditor or supervisory authority of a financial institution acting in the course of that person}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 s employment or agency;}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
in relation to any action by the financial institution, the auditor or the supervisory authority or their officer, employee or agent taken under sections 5, 8(2)(b), 10, 11, or 12 in good faith.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
Subsection (1) does not apply in respect of proceedings for an offence against section 14.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (3)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
If a financial institution or its officer, employee, agent, or the supervisory authority or auditor of the financial institution makes a report under sections 5, 8(2)(b), 10, 11 or 12, the person is taken, for the pu
rposes of proceedings for a money laundering offence, not to have been in possession of that information at any time.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 17.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16217094 Privileged communication}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  - (1) Nothing in section 11 requires any lawyer to disclose any privileged communication.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 For the purpo
ses of this section, a communication is a privileged communication only if -
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 it is a confidential communication, whether oral or in writing, passing between:
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (i)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 a lawyer in his or her professional capacity and another lawyer in such capacity; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (ii)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 a lawyer in his or her professional capacity and his or her client, whether made directly or indirectly }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
through an agent of either; and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 it is made or brought into existence for the purpose of obtaining or giving legal advice or assistance; and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 (c) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
it is not made or brought into existence for the purpose of committing or furthering the co}{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 mmission of an illegal or wrongf}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
ul act.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (3)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
If the information consists wholly or partly of, or relates wholly or partly to, receipts, payments, income, expenditure or financial transactions of a specified person (whether a lawyer, his or her client, or any other person), it is not}{
\fs24\lang2057\langfe5129\langnp2057\insrsid16217094  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
a privileged communication if it is contained in, or comprises the whole or part of, any book, account, statement or other record prepared or kept by the lawyer in connection with a trust account of the lawyer.}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (4)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 For the purposes of this section, references to }{
\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid16670511 a lawyer }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 include a firm in which the person is a partner or is held out to be a partner.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 18.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16217094 
Other preventative measures by financial institution}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
 - (1) A Compliance Officer appointed under section 17 of the Financial Supervisory Commission Act 2003 is responsible for ensuring the financial institution}{\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 '}{
\fs24\lang2057\langfe5129\langnp2057\insrsid12220964 s}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  compliance with sections 4, 6 and 7 by establishing and maintaining procedures and systems to -}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 (a) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
implement the customer identification requirements under section 4; and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
implement record keeping and requirements under sections 6 and 7.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 A fina
ncial institution must appoint a Money Laundering Reporting Officer who is responsible for ensuring the financial institution}{\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
s compliance with sections 10 and 11 by -
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid12220964 (a) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 establishing }{
\fs24\lang2057\langfe5129\langnp2057\insrsid12220964 and maintaining procedure and }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 systems to }{\fs24\lang2057\langfe5129\langnp2057\insrsid12220964 \endash }{
\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid12220964 {\fs24\lang2057\langfe5129\langnp2057\insrsid12220964 (i) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 implement the reportin
g requirements under sections 10 and 11;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid12220964 {\fs24\lang2057\langfe5129\langnp2057\insrsid12220964 (ii) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
make its officers and employees aware of the laws relating to money laundering;}{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid12220964 {\fs24\lang2057\langfe5129\langnp2057\insrsid12220964 (iii) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
make its officers and employees aware of the procedures, policies and audit systems adopted by it}{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094  to deter money laundering; and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid12220964 {\fs24\lang2057\langfe5129\langnp2057\insrsid12220964 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
train its officers, employees and agents to recognise suspicious transactions;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid12220964 (c) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
establish an audit function to test its anti-money laundering procedures and systems.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 19. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid16217094 Defences}{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 - }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid16670511 (1) It is a defence to }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 a person or financial institution}
{\fs24\lang2057\langfe5129\langnp2057\insrsid394134  charged with an offence under any of the sections 4, 6, 7, 10, 11, 13, 14 and 15 if the defendant proves -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid394134 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid394134 {\fs24\lang2057\langfe5129\langnp2057\insrsid394134 (a) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
that the defendant took all reasonable steps to ensure that the defendant complied with that provision; or }{\fs24\lang2057\langfe5129\langnp2057\insrsid394134 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid394134 {\fs24\lang2057\langfe5129\langnp2057\insrsid394134 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid394134 {\fs24\lang2057\langfe5129\langnp2057\insrsid394134 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
that, in the circumstances of the particular case, the defendant could not reasonably have been expected to ensure that the defendant complied with the provision.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
In determining, for the purposes of subsection (1)(a), whether or not a financial institution took all reasonable steps to comply with a provision, the court must have regard to -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 the nature of the financial institution and the activities in which it engages; and}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 the existence and adequacy of any procedures established by the financial institution to ensure compliance with the provision, including (without limitation) -}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (i)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 staff training; and}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (ii)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 audits to test the effectiveness of any such procedures.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14422203 {\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid3175077 PART 4}{\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid3175077 
\par }{\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid3175077 FINANCIAL INTELLIGENCE UNIT
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 20.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid14422203 FIU established}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  - The FIU is established.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 21.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid14422203 Minister to appoint Head}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  - The Minister must appoint a Head of the FIU on any terms and conditions the Minister may determine in consultation with Cabinet.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 

\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 22.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid14422203 Functions, powers and duties of Head}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  - (1) The Head may exercise all of the functions, powers and duties of the FIU under this Act.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
The Head may from time to time, appoint such other officers and employees of the FIU as are necessary for the efficient exercise of the duties, functions and powers of the FIU.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (3)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
The Head may authorise any person, subject to any terms and conditions that the Head may specify, to carry out any power, duty, or function conferred on the Head under this Act.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 23.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid14422203 Head may delegate}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
 - (1) The Head may, from time to time, in writing, either generally or particularly, delegate to any employee or agent of the FIU as he or she thinks fit, all or any of the powers exercisable by him or her under this or any other enactment, but not inclu
ding the power of delegation conferred by this section.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
Subject to any general or special directions given or conditions attached by the Head, the employee or agent to whom powers a}{\fs24\lang2057\langfe5129\langnp2057\insrsid14422203 r}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
e delegated, may exercise those powers in the same manner and with the same effect as if they had been conferred on him or her directly by this section and not by delegation.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (3)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
Until a delegation is revoked in writing, it continues in force according to its tenor and in the event of the Head ceasing}{\fs24\lang2057\langfe5129\langnp2057\insrsid14422203  to hold office, the delegation}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  continues to have effect as if made by the person for the time being holding office as Head.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (4)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
Every delegation made under this section is revocable at will and no delegation prevents the exercise of any power by the Head.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14422203 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203 24. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid14422203 Head to hold no other office}{
\fs24\lang2057\langfe5129\langnp2057\insrsid16217094  - The Head must not be -
\par 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid16670511 a member of Parliament; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid16670511 a member of a local authority; or

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 (c) }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid16670511 
a director, officer or employee of, or hold any shares in any financial institution or be the spouse or immediate family of any such person,
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16217094 {\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094\charrsid16670511 and must not, without the approval of the Minister, hold any other office or take on any other occupation.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16217094 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 25.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid14422203 Removal or suspension from office}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  - The Head may at any time be removed or
 suspended from office by the Minister for disability affecting the performance of duty, neglect of duty, incompetence or misconduct proved to the satisfaction of the Minister.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14422203 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 26.}{\fs24\lang2057\langfe5129\langnp2057\insrsid14422203  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid14422203 Head must report to Minister}{
\fs24\lang2057\langfe5129\langnp2057\insrsid14422203  - (1) The Head -
\par 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid14422203  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 must report to the Minister on the exercise of the Head}{\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
s powers and the performance of his or her duties and functions under this Act; and}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
advise the Minister on any matter relating to money laundering.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 The Head may not disclose any information, except in
 accordance with this Act, that would directly or indirectly identify an individual who provided a report or information to the FIU, or a person or an entity about whom a report or information was provided under this Act.
\par 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14422203 27. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid14422203 Functions and powers of FIU}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  -
 The FIU has the following functions}{\fs24\lang2057\langfe5129\langnp2057\insrsid14422203 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203 (a) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
it must receive reports made under sections 5, 8, 10, 11 and 12 and information provided to the FIU by any agency of another country, information prov}{\fs24\lang2057\langfe5129\langnp2057\insrsid13380862 ided to the FIU}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  by a law enforcement agency or a Government ins
titution or agency, and any other information voluntarily provided to the FIU about suspicions of a serious offence or a money laundering offence;}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
it may collect information that the FIU considers relevant to serious offences or money laundering activ
ities and that is publicly available, including commercially available databases, or information that is collected or maintained, including information that is stored in databases maintained by the Government;}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203 (c) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
if the FIU has reasonable grounds to believe a serious offence or a money laundering offence has been, is being or may be committed, the FIU must refer the matter to the Police for investigation;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203 (d) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
it may request information from any law enforcement agency and supervisory authority for the purposes of this Act;}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (e) it may analyse and assess all reports and information;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (f)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 it may send any report, any information derived from that report or any other information it receives to the appropriate law enforcement authorities if, having considered t
he report or information, the FIU also has reasonable grounds to suspect that the transaction is suspicious;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (g)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 it must destroy a suspicious transaction report received or collected on the expiry of 6 years after the date of receipt of the report if ther
e has been no further activity or information relating to the report or the person named in the report or 6 years from the date of the last activity relating to the person or to the report;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (h)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 it may ask for further information relating to any suspicious transaction report received by it from a financial institution;}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (i)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 it may instruct any financial institution to take any steps that may be appropriate in relation to any informat}{\fs24\lang2057\langfe5129\langnp2057\insrsid13380862 
ion or report received by the FIU}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  to enforce compliance with this Act;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (j)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
it may compile statistics and records, disseminate financial information and intelligence to domestic authorities within the Cook Islands or elsewhere for investigation or action if there are grounds to suspect money laundering;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (k)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 it must issue guidelines to financial institutions;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 (l}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 )}{
\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
it may provide training programmes for financial institutions in relation to customer identification, record keeping and reporting obligations and the identification of suspicious transactions;}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (m)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 it may provide feedback to financial institutions and other relevant agencies regarding outcomes relating to the reports or information given under this Act;}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (n) it may conduct research into trends and developments in the area of money laundering and impr
oved ways of detecting, preventing and deterring money laundering;}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (o)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 it may educate the public and create awareness of matters relating to money laundering;}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (p)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 it must undertake compliance audits for entities not regulated by a supervisory authority;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
it may transmit any information from, or derived from, a compliance audit or supervisory review or suspicious transaction report to the appropriate domestic or foreign law enforcement authority, if the FIU has reasonable grounds to believe that the inform
ation is suspicious or is relevant to an investigation for non-compliance with this Act, a serious offence or a money laundering offence
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14422203 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 28.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid14422203 Agreements and arrangements by FIU}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  - (1) The FIU may, with the approval of Cabinet, enter into negotiations, orall
y or in writing, relating to an agreement or arrangement, in writing, with an institution or agency of a foreign state or an international organisation established by the governments of foreign states that has powers and duties similar to those of the FIU
, regarding the exchange of information between the FIU and the institution or agency.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2) Final agreements or arrangements }{\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 entered into}{\fs24\lang2057\langfe5129\langnp2057\insrsid14422203  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 under }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 subsection (1) must be approved by Cabinet.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (3)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
The information exchanged under subsection (1) must be informati
on that the FIU, institution or agency has reasonable grounds to believe would be relevant to investigating or prosecuting a serious offence or a money laundering offence or an offence that is substantially similar to either offence.
\par 
\par (4)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 Agreements or arrangements entered into under subsection}{\fs24\lang2057\langfe5129\langnp2057\insrsid14422203  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 (1) must -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203 (a) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
restrict the use of information to purposes relevant to investigating or prosecuting a serious offence, a money laundering offence or an offence that is substantially similar to either offence; and}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14422203 {\fs24\lang2057\langfe5129\langnp2057\insrsid14422203 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
stipulate that the information must be treated in a confidential manner and must not be further disclosed without the express consent of the FIU.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 
\par 29. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid7695668 Disclosure to foreign agencies}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
 - (1) The FIU may disclose its information to an institution or agency of a foreign state or of an international organisation established by the governments of foreign states that has powers and duties similar to those of the FIU on the terms and conditi
ons set out in the agreement or arrangement between the FIU and that foreign state or international organisation regarding the exchange of information.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
Nothing in subsection (1) limits the power of the FIU to disclose its information to an institution or agency}{\fs24\lang2057\langfe5129\langnp2057\insrsid13380862  of a foreign state or of an in}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 ternational organisation established by the governments of foreign states that has powers and duties similar to thos
e of the FIU for the purposes of an investigation, prosecution or proceedings relating to a serious offence or a money laundering offence.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7695668\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (3)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
The FIU may transmit any information from, or derived from, a compliance audit or supervisory review to the appr
opriate domestic or foreign law enforcement authority, if the FIU has reasonable grounds to believe that the information is suspicious or is relevant to an investigation for non-compliance with this Act, a serious offence or a money laundering offence.

\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7695668\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 30.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid7695668 Power to examine}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  - (1) The FIU or any suitably qualified person appointed by the F}{\fs24\lang2057\langfe5129\langnp2057\insrsid13380862 I}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 U may examine the records and inquire into the business and affairs of any financial institution for the purpose of ensuring compliance with Parts 2 and 3 and, for that purpose, may, -

\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7695668 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 (a) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
at any reasonable time without warrant, enter any premises in which the authorised person believes, on reasonable grounds, that there are records relevant to ensuring compliance with Parts 2 and 3;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7695668 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 use or cause to be used any comput
er system or data processing system in the premises to examine any data contained in or available to the system; }{\fs24\lang2057\langfe5129\langnp2057\insrsid13380862 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11995129 {\fs24\lang2057\langfe5129\langnp2057\insrsid13380862 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7695668 {\fs24\lang2057\langfe5129\langnp2057\insrsid13380862 (c) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
reproduce any record, or cause it to be reproduced from the data, in the form of a printout or other output for examination or copying;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7695668 {\fs24\lang2057\langfe5129\langnp2057\insrsid2708375 (d}{\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 ) }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 use or cause to be used any copying equipment in the premises to make copies of any record.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668\charrsid16670511 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2708375 {\fs24\lang2057\langfe5129\langnp2057\insrsid2708375 (2}{\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 ) }{\fs24\lang2057\langfe5129\langnp2057\insrsid2708375 The }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 owner or person in charge of premises referred to in subsection (1) and every person found there must give the FIU or any authorised person all reasona
ble assistance to enable them to carry out their responsibilities and must furnish them with any information that they may reasonably require with respect to the administration of Parts 2 and 3 or any regulations made under this Act.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (3)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 Any person who wi
lfully obstructs or hinders or fails to cooperate with the FIU or any authorised person in the lawful exercise of the powers under subsection (1) or any person who does not comply with subsection (2) commits an offence punishable by, -}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7695668\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7695668 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid7695668  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in the case of an individual, to a fine of up to $20,000 or a term or imprisonment of up to 2 years, or both;}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7695668 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
in the case of a body corporate, to a fine of up to $100,000.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 
\par (4) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 The FIU may send any information from, or derived from, an}{\fs24\lang2057\langfe5129\langnp2057\insrsid7695668  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 examination to -
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7695668 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 (a) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 a supervisory authority; }{
\fs24\lang2057\langfe5129\langnp2057\insrsid1849913 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1849913 {\fs24\lang2057\langfe5129\langnp2057\insrsid1849913 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7695668 {\fs24\lang2057\langfe5129\langnp2057\insrsid1849913 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 the Solicitor-General;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7695668 {\fs24\lang2057\langfe5129\langnp2057\insrsid1849913 (c}{\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 ) }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 a law enforcement agency or a foreign supervisory authority;}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 if the FIU has reasonable grounds to suspect that the information is suspici
ous or is relevant to an investigation for non-compliance with this Act, a serious offence or a money laundering offence.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 31.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid7695668 Powers to enforce compliance}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  - (1) Every officer and employee of a financial institution must take all reasonable steps to ensure compliance by that financial institution with its obligations under this Act.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
The FIU may direct or enter into an agreement with any financial institution that has, without reasonable excuse, failed to comply in whole or in part with any obligations 
under Part 2 or 3 to implement any action plan to ensure compliance with its obligations under those Parts.
\par 
\par (3)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
If a financial institution fails to comply with a directive under subsection (2) or fails to implement an action plan under subsection (2), the
 FIU may, on application to the Court and after satisfying the Court that a financial institution has failed without reasonable excuse to comply in whole or in part with any obligations under Part 2 or 3, obtain an injunction against all or any of the off
icers or employees of that financial institution on the terms that the Court considers necessary to enforce compliance with those obligations.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7695668\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (4)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
In granting an injunction under subsection (3), the Court may order that, if the financial institution or any
 officer or employee of that institution fails, without reasonable excuse, to comply with all or any of the provisions of that injunction, the financial institution, officer or employee must pay a financial penalty in the sum of $20,000 or any other penal
ty that the Court may determine.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7695668\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 32.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid7695668 Audit}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  - (1) The FIU is subject to examination and audit by the Director of the Public Expenditure Review Committee and Audit (}{\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 Director of PERCA}{\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 ).}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7695668\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
The Director of PERCA and every person acting on behalf of, or under the direction of, the Director of PERCA must not use or disclose any information that they have obtained, or to which they have had access, in the course of their audit, except for th}{
\fs24\lang2057\langfe5129\langnp2057\insrsid1849913 e purposes of exercising those }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 powers or performing their duties and f
unctions under the Public Expenditure Review Committee and Audit Act 1995-96.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 33.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid7695668 Non-disclosure}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  - (1) This section applies to a person while the person is, or after the person ceases to be, the Head, officer, employee or agent of the FIU.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 Except for
 the purpose of the performance of his or her duties or the exercise of his or her functions under this Act, or when lawfully required to do so by any court, the person referred to in subsection (1) must not disclose any information or matter that has bee
n obtained by him or her in the performance of his or her duties or, the exercise of his or her functions under this Act or that he or she has knowledge except for one or more of the following purposes -}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7695668\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7695668 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 the detection, investigation or prosecution of a serious offence or a money laundering offence;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7695668 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (b)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 the enforcing of the Proceeds of Crime Act 2003.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 
\par 34. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid7695668 Immuni}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7695668\charrsid7695668 ty}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 - No action lies against the Head, any officer, employee or agent of the FIU or any person acting under the direction 
of the Head for anything done in good faith in the administration or discharge of any powers, duties, or functions under this Act.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14421752 {\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid1849913 PART 5}{\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid14421752\charrsid1849913 
\par }{\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid1849913 OTHER MATTERS
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
\par 35.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid7695668 Overriding of secrecy}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
For the avoidance of doubt, a financial institution must comply with the requirements of this Act despite any obligation as to secrecy or other restriction on the disclosure of information imposed by any written law or otherwise.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 36.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid7695668 Act to prevail if conflict with other specified Acts
}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
If there is a conflict between the provisions of this Act and any other Act including the following Acts, this Act prevails -
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7695668 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a) Inter}{\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 national Companies Act 1981-82;

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7695668 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7695668 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 International Partnership Act 1984;}{
\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7695668 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7695668 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 (c) }{\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 International Trusts Act 1984;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7695668 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7695668 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 (d) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 Banking Act 2003;}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7695668 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7695668 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 (e) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 O}{
\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 ff-Shore Insurance Act 1981-82;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7695668 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7695668 {\fs24\lang2057\langfe5129\langnp2057\insrsid7695668 (f) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 Trustee Companies Act 1981-82.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
\par 37.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid15100853 Anonymous account or account in fictitious or false name}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  - (1) A person who opens, operates or authorises the opening or operation of an anonymous account commits an offence punishable by, -
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15100853 {\fs24\lang2057\langfe5129\langnp2057\insrsid15100853 (a) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
in the case of an individual, to a fine of up to $10,000 or to a term of imprisonment of up to 12 months, or both;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15100853 {\fs24\lang2057\langfe5129\langnp2057\insrsid15100853 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
in the case of a body corporate, to a fine of up to $50,000.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
A person who intentionally opens or operates an account with a financial institution in a fictitious or false name commits an offence punishable by, -
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15100853 {\fs24\lang2057\langfe5129\langnp2057\insrsid15100853 (a) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
in the case of an individual, to a fine of up to $10,000 or a term of imprisonment of up to 12 months, or both;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15100853 {\fs24\lang2057\langfe5129\langnp2057\insrsid15100853 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
in the case of a body corporate, to a fine of up to $50,000.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (3)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
A person who authorises the opening or the operation of an account with a
 financial institution in a fictitious or false name in circumstances where that person ought to have reasonably known that the name of the account was fictitious or false, commits an offence punishable by, -
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15100853 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 in the case of an individual, to a fine of up to $10,000 or a term of imprisonment of up to 12 months, or both;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15100853 {\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
in the case of a body corporate, to a fine of up to $50,000.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (4)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
If a person is commonly known by 2 or more different names, the person must not use one of those names in opening an account with a financial institution unless the person has previously disclosed the other name or names to the financial institution.}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14421752\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (5)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
If a person using a particular name in his or her dealings with a financial institution discloses to it a different
 name or names by which he or she is commonly known, the financial institution must make a record of the disclosure and must, at the request of the FIU, give the FIU a copy of that record.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14421752\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (6)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 For purposes of this section, -}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14421752\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15100853 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 a person opens an account
 in a false name if the person, in opening the account, or becoming a signatory to the account, uses a name other than a name by which the person is commonly known;}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15100853 {\fs24\lang2057\langfe5129\langnp2057\insrsid14421752\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15100853 {\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
a person operates an account in a false name if the person does any act or thing in re
lation to the account (whether by way of making a deposit or withdrawal or by way of communication with the financial institution concerned or otherwise) and, in doing so, uses a name other than a name by which the person is commonly known; and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15100853 {\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15100853 {\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 (c) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 an acc
ount is in a false name if it was opened in a false name, whether before or after the commencement of this Act.}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid14421752\charrsid16670511 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 38.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid8858508 Liability of employers or principals}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  - (1) Any act done or omitted by a person as an employee or agent is,}{\fs24\lang2057\langfe5129\langnp2057\insrsid13904980  for the purposes o}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 f this Act, to be treated as done or omitted by that person}{\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
s employer or principal, whether or not it was done with the knowledge or approval of the employer or principal.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 Subsection (1) only applies, in the case of an }{
\fs24\lang2057\langfe5129\langnp2057\insrsid8858508\charrsid16670511 agent, if the }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 agent acted within the terms of his or her agency or contract.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 39.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid8858508 Liability of directors}{
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid13904980 ,}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid8858508  controllers and officers of bodies corporate}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 - If a body corporate is convicted of an offence under this Act or any regulations made under this Act, every director,
 controller or officer concerned in the management of the body corporate commits an offence if it is proved that the act or omission that constituted the offence took place with that person}{\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 '}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 s knowledge, authority, permission or consent.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8858508 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 40.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid14421752 Regulations}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  - }{\fs24\lang2057\langfe5129\langnp2057\insrsid13904980 T}{
\fs24\lang2057\langfe5129\langnp2057\insrsid13904980\charrsid16670511 he Queen}{\fs24\lang2057\langfe5129\langnp2057\insrsid8868295 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid13904980\charrsid16670511 s Representative may}{
\fs24\lang2057\langfe5129\langnp2057\insrsid13904980 ,}{\fs24\lang2057\langfe5129\langnp2057\insrsid13904980\charrsid16670511  from time to time,}{\fs24\lang2057\langfe5129\langnp2057\insrsid13904980  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 by Order in Executive Council make regulations -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid14421752\charrsid16670511 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid8858508 {\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 (}{\fs24\lang2057\langfe5129\langnp2057\insrsid8858508 a}{\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 ) }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 prescribing any requirements, policies, or procedures for customer identification, record keeping, reporting obligations, systems, }{\fs24\lang2057\langfe5129\langnp2057\insrsid8858508 
training and internal controls;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8858508 {\fs24\lang2057\langfe5129\langnp2057\insrsid8858508 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid8858508 {\fs24\lang2057\langfe5129\langnp2057\insrsid8858508 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
prescribing requirements relating to accounts in existence at the commencement of this Act relating to customer id}{\fs24\lang2057\langfe5129\langnp2057\insrsid13904980 entification an}{\fs24\lang2057\langfe5129\langnp2057\insrsid8858508 d verification;

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8858508 {\fs24\lang2057\langfe5129\langnp2057\insrsid8858508 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid8858508 {\fs24\lang2057\langfe5129\langnp2057\insrsid8858508 (c) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
prescribing the qualifications and criteria for appointment as a Money Laundering Reporting Officer and terms and conditions of appointment;}{\fs24\lang2057\langfe5129\langnp2057\insrsid8858508 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8858508 {\fs24\lang2057\langfe5129\langnp2057\insrsid8858508 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid8858508 {\fs24\lang2057\langfe5129\langnp2057\insrsid8858508 (d)}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
 prescribing offences for non-compliance with this Act;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14421752 {\fs24\lang2057\langfe5129\langnp2057\insrsid8858508 (e}{\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 ) }{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 providing for any other matters that are contemplate}{\fs24\lang2057\langfe5129\langnp2057\insrsid13904980 d by or are necessary giving full}{
\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511  effect to this Act and for its administration.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par 41. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid14421752 Transitional provision}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid14421752 s}{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
 - (1) A financial institution which, at the commencement of this Act, is subject to the Money Laundering Prevention Act 2000, must, within 6 months after the date of commencement of this Act, comply with the provi
sions relating to customer identification and verification set out in this Act.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
Upon the date of coming into force of this Act, all assets and liabilities held by the Financial Intelligence Unit set up by the Money Laundering Authority for the purpose
 of fulfilling certain of its obligations under the Money Laundering Prevention Act 2000, must be transferred to and vest in the FIU without further assurance than this section and the FIU shall have all powers necessary to take possession of recover and 
deal with such assets and discharge such liabilities.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (3)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
All monies appropriated by Parliament for the year ending 30th June during which this Act comes into force for the purposes of the Financial Intelligence Unit referred to in subsection (2) shall, wi
thout further authority than this subsection, be appropriated to the FIU.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 (4)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16670511  }{\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 
Every head, officer or employee of the Financial Intelligence Unit appointed by the Money Laundering Authority before the coming into force of this Act shall continue to hold of
fice as a head, officer or employee of the FIU for such period and upon such terms and conditions as to remuneration or otherwise as shall be determined by the Minister, but in all other respects as if their appointments were made by the Minister or the H
ead, as the case may be, under section 21 or 22 of this Act.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14421752 {\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 ---------------------------------------------
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16670511 {\fs24\lang2057\langfe5129\langnp2057\insrsid14421752 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14421752 {\fs24\lang2057\langfe5129\langnp2057\insrsid7503702\charrsid16670511 This Act is administered by the Financial Intelligence Unit
\par }}