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Financial Intelligence Centre Act, 2001

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To establish a Financial Intelligence Centre and a Counter-Money Laundering Advisory Council in order to combat money laundering activities and the financing of terrorist and related activities; to impose certain duties on institutions and other persons who might be used for money laundering purposes and the financing of terrorist and related activities; to clarify the application of the Act in relation to other laws; to provide for the sharing of information by the Centre and supervisory bodies; to provide for the issuance of directives by the Centre and supervisory bodies; to provide for the registration of accountable and reporting institutions; to provide for the roles and responsibilities of supervisory bodies; to provide for written arrangements relating to the respective roles and responsibilities of the Centre and supervisory bodies; to provide the Centre and supervisory bodies with powers to conduct inspections; to regulate certain applications to Court; to provide for administrative sanctions that may be imposed by the Centre and supervisory bodies; to establish an appeal board to hear appeals against decisions of the Centre or supervisory bodies; to amend the Prevention of Organised Crime Act, 1998, and the Promotion of Access to Information Act, 2000; and to provide for matters connected therewith.

 

Last update: July 2013


Copyright: This Act reproduced under Government Printers Copyright Authority 10154 dated 20 March 1996


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Latest Developments:

 

The Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001) has been amended by General Intelligence Laws Amendment Act, 2013 (Act No. 11 of 2013), Government Gazette 36695, Notice No. 528, dated 23 July 2013.

 

This Act has been updated with amendments in Notices No. 1104 and No. 1105 in Government Gazette No. 33781 dated 26 November 2010.

 

This Act has been updated with Exemption Notices – No. 454 in Government Gazette No. 33211 dated 28 May 2010, No. 471 in Government Gazette No. 33241 dated 4 June 2010, and No. 560 in Government Gazette No. 33309 of June 2010.

 

This Act has been updated by two Government Notices No. 1354 in Gazette No. 27011 of November 2004 and No. 1035 in Gazette No. 29299 of October 2006 – Second and Third Reporting Exemptions.

 

This Act has been updated with "Guidance for Banks on Customer Identification and Verification and Related Matters" – Government Notice No. 715 published in Government Gazette No. 27803 dated 18 July 2005.

 

This Act has been amended by the Financial Intelligence Centre Amendment Act, 2008 (Act No. 11 of 2008) as printed in Government Gazette No. 31365 dated 27 August 2008.

 

The Act has been amended by:

Notice No. 735 in Government Gazette No. 26469 dated 18 June 2004, being :"guidance to Financial Services Industries"; and

"Amendment of Regulations" in Notice No. R456 printed in Government Gazette No. 27580 dated 20 May 2005.

 

The Financial Intelligence Centre Act (Act 38 of 2001) as published in Government Gazette No. 22886 dated 3 December 2001, has been added to the site.

The Regulations to this Act as published in Government Gazette No. 24176 dated 20 December 2002 have been added to the Act.