463 tal-2004 - Regolamenti tal-2004 dwar Rappurtaġġ ta’ Ċaqlieq ta’ Flus

L.N. 463 of 2004

EXTERNAL TRANSACTIONS ACT

(CAP. 233)

Reporting of Cash Movements Regulations, 2004

BY virtue of the powers vested in him by articles 7 and 8 of the

External Transactions Act, the Prime Minister and Minister of Finance,

after consultation with the Central Bank of Malta and the National

Statistics Office, has made the following regulations>-

(1) These regulations may be cited as the Reporting of Cash Citation and

Commencement.

Movements Regulations, 2004.

(2) These regulations shall come into force on such date as

the Minister responsible for finance may by notice in the Gazette

establish.

In these regulations, unless the context otherwise requires, any Interpretation.

terms used have the same meaning as is assigned to them in the Act,

and>

“the Act” means the External Transactions Act<

“cash” means any legal tender currency notes and coins and

includes monetary instruments<

“the Comptroller” means the Comptroller of Customs and Cap. 37.

has the same meaning assigned to it under the Customs Ordinance.

(1) Any person entering or leaving Malta and carrying a sum Procedure

sum exceeds

equivalent to Lm5,000 or more in cash shall be obliged to declare that Lm5,000.

sum to the Comptroller.

(2) The obligation to declare any such sum as in sub-

regulation (1) hereof shall not be fulfilled unless such person has

completed the form appearing in the Schedule to these regulations and

has handed in such form to the Comptroller when entering or leaving

Malta.

(3) A person who makes a false declaration for the purposes

of these regulations or who does not fulfill the obligation to declare

such sum in terms of sub-regulation (2) hereof, shall be guilty of an

offence and shall, on conviction, be liable to a fine (multa) equivalent

to twenty-five per centum of the value represented, in Maltese currency

on the date of entry or leaving Malta, by the cash carried, but in any

case not exceeding a fine (multa) of twenty thousand Maltese liri.

(4) Where any cash has not been declared as provided in

sub-regulation (1), the Comptroller shall seize the undeclared cash in

excess of Lm5,000, or the whole amount when the cash is indivisible.

(5) The court shall, besides the punishment to which it may

sentence the person convicted of an offence under sub-regulation (3)

hereof, order the forfeiture in favour of the Government of the undeclared

cash in excess of Lm5,000, or of the whole amount when the cash is

indivisible.

(6) No criminal proceedings for an offence under these

regulations shall be commenced without the consent of the Attorney

General.

(1) The Comptroller shall pass on a weekly basis to the

Central Bank of Malta the records of declarations made under these

regulations.

(2) The Central Bank of Malta shall compile and maintain

a database of such declarations.

(3) Any information exchanged between the Central Bank

of Malta and the Comptroller shall be subject to the duty of professional

secrecy.

Mitbug[ fl-Istamperija tal-Gvern — Printed at the Government Printing Press