Cash Control (Amendment) Regulations, 2025

L.N. 103 of 2025

EXTERNAL TRANSACTIONS ACT

(CAP. 233)

Cash Control (Amendment) Regulations, 2025

IN EXERCISE of the powers conferred by articles 7 and 10 of

the External Transactions Act, the Minister responsible for finance,

has made the following regulations:-

The title of these regulations is the Cash Control Citation.

(Amendment) Regulations, 2025 and these regulations shall be read

and construed as one with the Cash Control Regulations, hereinafter S.L. 233.07.

referred to as the "principal regulations".

In regulation 2 of the principal regulations the definition Amends

"Commissioner" shall be substituted by the following new definition: regulation

the principal

regulations.

""Commissioner" means the Commissioner for

Tax and Customs and shall have the same meaning as

assigned to it in the Commissioner for Tax and Customs

Act;".

Paragraphs (a) and (b) of sub-regulation (5) of regulation 3 Amends

of the principal regulations shall be substituted by the following new regulation

the principal

paragraphs

regulations.

"(a) Notwithstanding the provisions of sub-regulation (6),

when the sum mentioned in sub-regulations (1) and (3), which is

falsely declared or not declared, is of a value of more than ten

thousand euro (€10,000) and up to thirty thousand euro

(€30,000), the Commissioner may, with the agreement of the

person referred to in sub-regulation (1), impose a penalty of

fifteen percent (15%) of the sum carried in excess of ten

thousand euro (€10,000) or the equivalent, or a penalty of

twenty-five euro (€25), whichever is the highest, in lieu of

criminal proceedings, by signing an agreement. The signing of

this agreement, which may be entered into up to the date of

delivery of the final judgment by the Court, shall also mean that

the person is renouncing any claim he may have against the

Commissioner or the Attorney General resulting from the case.

In the absence of such agreement, the person concerned shall on

conviction, be liable to a fine (multa) of fifty euro (€50) and the

Court shall order the confiscation of the sum of not less than

twenty per cent (20%) but not more than fifty per cent (50%) of

the sum carried in excess of ten thousand euro (€10,000). This

confiscation shall be carried out by the Commissioner.

(b) Notwithstanding the provisions of sub-regulation (6),

if the sum mentioned in sub-regulations (1) and (3) which is

falsely declared or not declared is of a value of more than thirty

thousand euro (€30,000), the person referred to in sub-regulation

(1) shall on conviction, be liable to a fine (multa) of one hundred

euro (€100) and, the Court shall order the confiscation, which

shall be carried out by the Commissioner, of not less than twenty

percent (20%) and not more than fifty (50%) of the sum carried

in excess of ten thousand euro (€10,000)

Provided that in the absence of an agreement in terms

of paragraph (a) or where the value is of thirty-thousand euro

(€30,000) or more, the Commissioner shall detain the cash, or

the equivalent, exceeding ten thousand euro (€10,000), or the

whole amount where the cash is indivisible, and deposit that

amount in the Depository as provided for in sub-regulation (10)

Provided further that in assessing what percentage is

to be applied when imposing the confiscation, the Court shall

take into account the sum which was falsely declared or not

declared, the manner in which the amount in excess was

concealed and any attempts to avoid detection, any assistance or

cooperation with the authorities, and any other circumstance

which the Court deems appropriate.";

Any cash, or the equivalent, already detained by the

Commissioner and which may be collected before the commencement

of the Cash Control (Amendment) Regulations, 2025 shall devolve

2025. onto the Commissioner if it is not so collected within twelve (12)

months which shall commence to run with effect from 13th June,

2025. €0.18