ACT No. XV of 2021 AN ACT to amend the Prevention of Money Laundering Act, Cap.

I assent.

(L.S.)

GEORGE VELLA

President

9th April, 2021

ACT No. XV of 2021

AN ACT to amend the Prevention of Money Laundering Act, Cap.

373. BE IT ENACTED by the President, by and with the advice and

consent of the House of Representatives, in this present Parliament

assembled, and by the authority of the same as follows:-

(1) The short title of this Act is the Prevention of Money

Laundering (Amendment) Act, 2021, and this Act shall be read and

construed as one with the Prevention of Money Laundering Act,

hereinafter referred to as "the principal Act".

In sub-article (1) of article 3 of the principal Act, the words

"fine and imprisonment." shall be substituted by the words "fine and

imprisonment:" and immediately thereafter, there shall be added the

following new provisos

"Provided that an act of money laundering shall be

aggravated when

(a) the offence was committed within the

framework of a criminal organisation within the meaning

of Framework Decision 2008/841/JHA; or

(b) the offender is an obliged entity within the

meaning of Article 2 of Directive (EU) 2015/849 and has

committed the offence in the exercise of his professional

activities

Provided further that the Court may impose any one

(1) or more of the following additional sanctions

(a) in the case where an act of money laundering is

committed by natural persons

(i) the temporary or permanent exclusion

from access to public funding, including tender

procedures, grants and concessions;

(ii) the

temporary

or

permanent

disqualification from the practice of commercial

activities;

(iii) the temporary bans on running for elected

or public office;

(b) in the case where an act of money laundering is

committed by a body of persons, whether corporate or

unincorporate

(i) the exclusion from entitlement to public

benefits or public aid;

(ii) the temporary or permanent exclusion

from access to public funding, including tender

procedures, grants and concessions;

(iii) the

temporary

or

permanent

disqualification from the practice of commercial

activities;

(iv) the placing under judicial supervision;

(v)

its dissolution and winding up;

(vi) the temporary or permanent closure of

establishments which have been used for committing

the offence.".

Passed by the House of Representatives at Sitting No. 445 of the

24th March, 2021.

ANĠLU FARRUGIA

Speaker

RAYMOND SCICLUNA

Clerk of the House of Representatives

€0.36