Regulations, 2019

L.N. 12 of 2019

PREVENTION OF MONEY LAUNDERING ACT

(CAP. 373)

National Coordinating Committee on Combating Money

Laundering and Funding of Terrorism (Amendment)

Regulations, 2019

IN EXERCISE of the powers conferred upon him by article 12 of

the Prevention of the Money Laundering Act, the Minister for Finance

has made the following regulations:-

The title of these regulations is the National Coordinating

Committee on Combating Money Laundering and Funding of

Terrorism (Amendment) Regulations, 2019, and these regulations shall

be read and construed as one with the National Coordinating

Committee on Combating Money Laundering and Funding of

Terrorism Regulations, hereinafter referred to as "the principal

regulations".

Regulation 5 of the principal regulations shall be amended

as follows

(a) in paragraph (c) of sub-regulation (1) thereof, the

words ''national risk assessments.'' shall be substituted by the

words ''national risk assessments and to keep that risk assessment

up to date;''; and

(b) immediately after paragraph (c) of sub-regulation (1)

thereof, there shall be added the following new paragraph (d)

''(d) make the results of its risk assessments

available to the European Commission, the European

Banking Authority (EBA), the European Insurance and

Occupational Pensions Authority (EIOPA), the European

Securities and Markets Authority (ESMA) as well as the

other Member States.''.

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