| (a) |
add to the list any person or category of persons if the Minister reasonably believes that that person or category of persons is used, or is likely to be used in future, for money laundering purposes; |
| (b) |
delete any institution or category of institutions from the list if the Minister reasonably believes that that institution or category of institutions is not being used, and is not likely to be used in the future, for money laundering purposes; or |
| (c) |
make technical changes to the list. |
| (2) |
Before the Minister amends Schedule 1 in terms of subsection (1)(a) or (b), the Minister must consult the Centre, and— |
[Words preceding subsection (2)(a) substituted by section 52 of the Financial Intelligence Amendment Act, 2017 (Act No. 1 of 2017)]
| (a) |
if only one person or institution will be affected by the proposed amendment, give that person or institution at least 30 days’ written notice to submit written representations to the Minister; or |
| (b) |
if a category of persons or institutions will be affected by the proposed amendment, by notice in the Gazette give persons or institutions belonging to that category at least 60 days’ written notice to submit written representations to the Minister. |
| (3) |
Any addition to or deletion from the list of accountable institutions in Schedule 1 in terms of subsection (1)(a) or (b) must, before publication in the Gazette, be approved by parliament. |
Protection of Businesses Act, 1978
