Financial Intelligence Centre Act, 2001

R 450.00

Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001)

SKU: ACTP32 Category:

Description

Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001)

This is a printable version of the act that we have on www.acts.co.za with all the relevant Regulations, Schedules and Notices where applicable.

To view the act on www.acts.co.za click here.

Introduction:

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.