MT
Prevention of Money Laundering and Funding of Terrorism
Statutory Text (3 Articles)
L.N. 313 of 2021
PREVENTION OF MONEY LAUNDERING ACT
(CAP. 373)
Prevention of Money Laundering and Funding of Terrorism
(Amendment No. 2) Regulations, 2021
IN EXERCISE of the powers conferred by article 12 of the
Prevention of Money Laundering Act, the Minister responsible for
finance, acting on the advice of the Financial Intelligence Analysis
Unit, has made the following regulations:-
The title of these regulations is the Prevention of Money Citation.
Laundering and Funding of Terrorism (Amendment No. 2)
Regulations, 2021 and these regulations shall be read and construed
as one with the Prevention of Money Laundering and Funding of S.L. 373. 01.
Terrorism Regulations, hereinafter referred to as "the principal
regulations".
Sub-regulation (2) of regulation 14 of the principal Amends
regulation 14 of
regulations shall be amended as follows
the principal
regulations.
(a)
paragraphs (f) and (g) thereof shall be re-numbered
as paragraphs (h) and (i) respectively;
(b) immediately after paragraph (e) thereof there shall
be added the following new paragraphs
"(f) statistics relevant to the exchange of
information between the Financial Intelligence Analysis
Unit and any designated authority as defined under article
14 of the Act, including data regarding the number of
requests for information made, received, refused and
answered in full or in part, as well as the time taken to
respond to a request for information broken down per
designated authority;
(g) statistics relevant to the exchange of
information between the Financial Intelligence Analysis
Unit and Europol as defined under article 14 of the Act,
including data regarding the requests for information
received, refused and answered in full or in part, as well as
the time taken to respond to a request for information;";
(c)
paragraph (h) thereof, as re-numbered, shall be
substituted by the following new paragraph
"(h) data on human resources and information
technology resources available to the Financial
Intelligence Analysis Unit to carry out its functions under
article 16(1)(a), (b), (c) and (k) of the Act;"; and
(d) in paragraph (i) thereof, as re-numbered, the words
"administrative measures or penalties imposed." shall be
substituted by the words "administrative measures or penalties
imposed:" and immediately thereafter there shall be added the
following new proviso
"Provided that the statistical data set out in
paragraphs (f) to (h) shall also be maintained to assist in
the review of the effectiveness of the national system to
combat any other serious criminal offences as defined in
the first proviso to article 27C(1) of the Act.".
€0.18