Explanatory Memorandum

Transcription

1 IN THE KEYS ANTI-MONEY LAUNDERING AND OTHER FINANCIAL CRIME (MISCELLANEOUS AMENDMENTS) BILL 0 Explanatory Memorandum. This Bill is promoted by Miss Bettison M.H.K.. Part - Clauses and deal with the short title of the resulting At ( the At ) and its ommenement.. Part - Clauses and provide that ertain provisions (relating to systems, proedures, reord-keeping, ontrols and training) of a ode made by the Department of Home Affairs relating to money laundering under setion of the Proeeds of Crime At 00 and relating to the finaning of proliferation and terrorism under setion of the Terrorism and Other Crime (Finanial Restritions) At 0 may be imposed upon a trustee who is resident in the Island but who is not arrying on business in the regulated setor, and a foreign trustee.. Part Clause amends the Criminal Justie At by inserting a new Part A (jurisdition in relation to ertain offenes) omprising new setions ZA to ZH. The Part is derived from Part of the Criminal Justie At (Parliament).. New setion ZA speifies the offenes to whih the Part applies and divides the offenes into Group A (the substantive offenes) and Group B (onspiray, attempt and initement to ommit a Group A offene and onspiray to defraud).. New setion ZB defines what is meant by relevant event and speifies that, for a Group A offene, where an event took plae is to be disregarded and a person may be guilty of a Group A offene if any of the events whih are relevant events in relation to an offene, took plae in the Island.. New setion ZC speifies ertain matters that are immaterial to jurisdition, inluding whether or not the person was a British itizen or was in the Island at ertain times.. New setion ZD makes rules for determining when property is obtained in the Island and a ommuniation is made in the Island.. New setion ZE deals with attempts to ommit an offene and states that, where a person does an at to whih the setion applies, the offene shall be treated as the offene of attempting to ommit the relevant Group A offene.

2 Explanatory Memorandum Anti-Money Laundering and Other Finanial Crime (Misellaneous Amendments) Bill 0 0. New setion ZF speifies the irumstanes in whih a person may be guilty of onspiray to defraud or of initement to ommit a Group A offene.. New setion ZG makes provision about the relevane of external law in relation to the offenes to whih new Part A applies and states that a person is guilty of an offene under new setion ZF() if the at or omission would onstitute an offene under the law in fore where the at or omission was intended to take plae. In relation to attempt and initement, the person is guilty only if what that person had in view would involve the ommission of an offene under the law in fore where the ativity was intended to take plae. The setion also sets out ertain proedural matters where the defene onsiders that either ondition has not been satisfied.. New setion ZH states that new Part A does not apply to anything done before the relevant provision of that Part omes into operation.. Clause repeals setions (onspiray to ommit fraud outside the Island) and (offenes ommitted outside the Island) of the Fraud At 0, as a result of the inlusion of the wider Part A provisions provided for in lause.. Part Clauses to amend the penalties for offenes of failing to dislose information in paragraph () of Shedule to the Anti-Terrorism and Crime At 00, setion 0() of the Finanial Intelligene Unit At 0 and setions A and of the Proeeds of Crime At 00, to bring the penalties in line with setion () of the Finanial Servies At 00.. Part Clause 0 amends the Gambling (Amendment) At 00 so as to alter a ross-referene within setion () of that At whih relates to matters whih may be stayed pending appeal and, in Shedule, to add a ategory of deision whih is subjet to appeal.. Part Clause amends the Foundations At 0 so as to require a opy of the foundation rules to be provided to the Registrar (from whih any information by whih a person ould be identified has been redated) and to require the Registrar to make a opy of those rules available for publi inspetion. Setion of the Foundations At 0 is amended in relation to the douments to be kept at the foundation and setion is amended so as to widen its appliation to inlude foundation rules.. Part Clauses to amend the Partnership At 0, the Companies At, the Limited Liability Companies At, the Companies At 00 and the Foundations At 0, by inserting into eah of those Ats a lause whih larifies that the Registrar (or Department, as the ase may be) is not liable for the auray of the information submitted for inlusion on any register or index or for registration under those Ats and, despite that, to empower the Registrar (or Department, as the ase may be), to make suh enquiries as appropriate to establish the auray of any suh information.. Part Clause amends paragraph ()(ba) of Shedule to the Finanial Servies At 00 so as to amend the persons in respet of whom the Isle of Man Finanial Servies Authority may ondut an investigation into any potential Page ii

3 Anti-Money Laundering and Other Finanial Crime (Misellaneous Amendments) Bill 0 Explanatory Memorandum liability arising from breah of AML/CFT legislation and lause amends paragraph () of Shedule to the Insurane At 00, so as to provide that the Authority s powers under paragraphs to of that Shedule may be exerised for the purpose of an investigation referred to in lause.. The resulting At is not expeted to have any finanial or human resoure impliations. 0. In the opinion of the member moving the Bill, its provisions are ompatible with the Convention rights within the meaning of the Human Rights At 00. Page iii

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5 Anti-Money Laundering and Other Finanial Crime (Misellaneous Amendments) Bill 0 Index e ANTI-MONEY LAUNDERING AND OTHER FINANCIAL CRIME (MISCELLANEOUS AMENDMENTS) BILL 0 Index Setion Page PART INTRODUCTORY Short title... Commenement... PART CODES RELATING TO MONEY LAUNDERING AND THE FINANCING OF PROLIFERATION AND TERRORISM Proeeds of Crime At 00 amended... Terrorism and Other Crime (Finanial Restritions) At 0 amended... PART CRIMINAL JURISDICTION IN RELATION TO CERTAIN OFFENCES Criminal Justie At amended... Setions and Fraud At 0 repealed... PART PENALTIES FOR FAILURE TO COMPLY WITH CERTAIN REQUIREMENTS Anti-Terrorism and Crime At 00 amended... Finanial Intelligene Unit At 0 amended... Proeeds of Crime At 00 amended... PART ADDITIONAL GAMBLING DECISIONS SUBJECT TO APPEAL 0 Gambling (Amendment) At 00 amended... PART ADDITIONAL RECORD KEEPING REQUIREMENTS IN RESPECT OF FOUNDATIONS Foundations At 0 amended... PART POWER TO MAKE ENQUIRIES IN RELATION TO Page

6 Index Anti-Money Laundering and Other Finanial Crime (Misellaneous Amendments) Bill 0 INFORMATION SUBMITTED FOR REGISTRATION Partnership At 0 amended... Companies At amended... Limited Liability Companies At amended... Companies At 00 amended... Foundations At 0 amended... PART AML/CFT INVESTIGATIONS Finanial Servies At 00 amended... Insurane At 00 amended... Page

7 Anti-Money Laundering and Other Finanial Crime (Misellaneous Amendments) Bill 0 Setion e ANTI-MONEY LAUNDERING AND OTHER FINANCIAL CRIME (MISCELLANEOUS AMENDMENTS) BILL 0 0 A BILL to amend the Anti-Terrorism and Crime At 00, the Proeeds of Crime At 00, the Terrorism and Other Crime (Finanial Restritions) At 0 and the Finanial Intelligene Unit At 0, to amend ertain reordkeeping provisions of the Foundations At 0, to amend the Companies At, the Companies At 00, the Foundations At 0, the Limited Liability Companies At and the Partnership At 0 in order to provide powers to make enquiries in respet of information to be registered, in aordane with reommendations speified in the Fifth Round Mutual Evaluation Report of the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Finaning of Terrorism; to amend the Criminal Justie At to make provision for the jurisdition of ourts in the Island in relation to ertain riminal offenes; to amend the Gambling (Amendment) At 00 to add to the deisions that may be appealed under Shedule to that At and to amend the matters in respet of whih there may be a stay pending an appeal; to amend Shedule to the Finanial Servies At 00 in relation to the persons in respet of whih an AML/CFT investigation may be onduted and Shedule to the Insurane At 00 so as to apply ertain powers available under it to suh investigations; and for onneted purposes. BE IT ENACTED by the Queen s Most Exellent Majesty, by and with the advie and onsent of the Counil and Keys in Tynwald assembled, and by the authority of the same, as follows: 0 PART INTRODUCTORY Short title The short title of this At is the Anti-Money Laundering and Other Finanial Crime (Misellaneous Amendments) At 0. Page

8 Setion Anti-Money Laundering and Other Finanial Crime (Misellaneous Amendments) Bill 0 Commenement () This At (other than setion and this setion) omes into operation on suh day or days as the Department of Home Affairs may by order appoint. Tynwald proedure laying only. () An order under subsetion () may inlude suh onsequential, inidental, supplementary, transitional and transitory provision as the Department of Home Affairs onsiders neessary or expedient PART CODES RELATING TO MONEY LAUNDERING AND THE FINANCING OF PROLIFERATION AND TERRORISM Proeeds of Crime At 00 amended After setion () of the Proeeds of Crime At 00 (money laundering odes), insert (A) Additionally and without limiting subsetion (), a ode may (a) impose any of the requirements speified in subsetion ()(b) or () on a person to whom subsetion (B) applies; and (b) provide that a referene in it to an enatment or to a publi doument made under an enatment is to be onstrued as a referene to the enatment or the publi doument as amended from time to time. (B) This subsetion applies to a trustee who is (a) resident in the Island and is not arrying on business in the regulated setor or employed in or otherwise onerned in suh a business; and (b) a foreign trustee. (C) In this setion, foreign trustee means a person who is not resident in the Island but is a trustee of a trust whih is governed by the law of the Island.. Terrorism and Other Crime (Finanial Restritions) At 0 amended After setion () of the Terrorism and Other Crime (Finanial Restritions) At 0 (odes relating to the finaning of proliferation and terrorism), insert (A) Additionally and without limiting subsetion (), a ode may (a) impose any of the requirements speified in subsetion ()(b) or () on a person to whom subsetion (B) applies; and Page

9 Anti-Money Laundering and Other Finanial Crime (Misellaneous Amendments) Bill 0 Setion 0 (b) provide that a referene in it to an enatment or to a publi doument made under an enatment is to be onstrued as a referene to the enatment or the publi doument as amended from time to time. (B) This subsetion applies to a trustee who is (a) resident in the Island and is not arrying on business in the regulated setor or employed in or otherwise onerned in suh a business; and (b) a foreign trustee. (C) In this setion, foreign trustee means a person who is not resident in the Island but is a trustee of a trust whih is governed by the law of the Island.. PART CRIMINAL JURISDICTION IN RELATION TO CERTAIN OFFENCES Criminal Justie At amended () The Criminal Justie At is amended in aordane with subsetions () to (). () Immediately before Part (misellaneous and supplemental), insert 0 0 PART A JURISDICTION IN RELATION TO CERTAIN OFFENCES ZA Offenes to whih this Part applies P// and drafting () This Part applies to groups of offenes (a) any offene mentioned in subsetion () (a "Group A offene"); and (b) any offene mentioned in subsetion () (a "Group B offene"). () The Group A offenes are (a) an offene under any of the following provisions of the Theft At (i) setion (theft); (ii) setion (false aounting); (iii) setion (false statements by ompany diretors, et); Page

10 Setion Anti-Money Laundering and Other Finanial Crime (Misellaneous Amendments) Bill (b) () (d) (iv) setion (blakmail); (v) setion (handling stolen goods); (vi) setion A (dishonestly retaining a wrongful redit); an offene under any of the following provisions of the Fraud At 0 (i) setion (fraud); (ii) setion (possession et. of artiles for use in frauds); (iii) setion (making or supplying artiles for use in frauds); (iv) setion (partiipating in fraudulent business); (v) setion (obtaining servies dishonestly); an offene under any of the following provisions of the Forgery At (i) setion (forgery of ertain douments with intent to defraud); (ii) setion (forgery of ertain douments with intent to defraud or deeive); (iii) setion (forgery of other douments with intent to defraud or to deeive a misdemeanour); (iv) setion (forgery of seals and dies); (v) setion (uttering); (vi) setion (demanding property on forged douments, et); (vii) setion (possession of forged douments, seals, and dies); (viii) setion (making or having in possession paper or implements for forgery); (ix) setion 0 (purhasing or having in possession ertain paper before it has been duly stamped and issued); (x) setion (forgery of a passport); an offene under any of the following provisions of the Coinage Offenes At 0 (i) setion (ounterfeiting); (ii) setion (gilding, silvering, filing and altering); (iii) setion (impairing platinum, gold, silver, upronikel or bronze oin and unlawful possession of filings et); Page 0

11 Anti-Money Laundering and Other Finanial Crime (Misellaneous Amendments) Bill 0 Setion 0 0 (iv) setion (defaing and uttering defaed oins); (v) setion (uttering and possession with intent to utter); (vi) setion (buying or selling, et ounterfeit oin for lower value than its denomination); (vii) setion (importing and exporting, et ounterfeit oin); (viii) setion (making, possessing and selling medals resembling platinum, gold, silver or upro-nikel oin); (ix) setion (making, mending and having possession of oining implements); and (e) an offene under any of the following provisions of the Customs and Exise Management At (i) setion (ounterfeiting douments, et); (ii) setion A (prohibition on importation and exportation of false identity douments, et). () The Group B offenes are (a) onspiray to ommit a Group A offene; (b) onspiray to defraud; () attempting to ommit a Group A offene; (d) initement to ommit a Group A offene. () The Department of Home Affairs may by order amend subsetion () or () by adding or removing any offene. Tynwald proedure approval required. () An order under subsetion () may ontain any onsequential, inidental, supplementary, transitional and transitory provisions whih the Department of Home Affairs onsiders neessary or expedient. 0 ZB Jurisdition in respet of Group A offenes P// and drafting () Subjet to subsetion (), for the purposes of this Part relevant event, in relation to any Group A offene, means any at or omission or other event (inluding any result of one or more ats or omissions) proof of whih is required for onvition of the offene. () In relation to an offene under setion of the Fraud At 0 (fraud), relevant event inludes Page

12 Setion Anti-Money Laundering and Other Finanial Crime (Misellaneous Amendments) Bill 0 0 (a) if the fraud involved an intention to make a gain and the gain ourred, that ourrene; (b) if the fraud involved an intention to ause a loss or to expose another to a risk of loss and the loss ourred, that ourrene. () For the purpose of determining whether or not a partiular event is a relevant event in relation to a Group A offene, any question as to where it ourred is to be disregarded. () A person may be guilty of a Group A offene if any of the events whih are relevant events in relation to the offene ourred in the Island. 0 0 ZC Questions immaterial to jurisdition in the ase of ertain offenes P// and drafting () A person may be guilty of a Group A or Group B offene whether or not that person was (a) a British itizen at any material time; (b) in the Island at any suh time. () On a harge of onspiray to ommit a Group A offene, or on a harge of onspiray to defraud in the Island, the defendant may be guilty of the offene whether or not (a) the defendant beame a party to the onspiray in the Island; (b) any at or omission or other event in relation to the onspiray ourred in the Island. () On a harge of attempting to ommit a Group A offene, the defendant may be guilty of the offene whether or not (a) the attempt was made in the Island; (b) it had an effet in the Island. () Subsetion ()(a) does not apply where jurisdition is given to try the offene in question by an enatment whih makes provision by referene to the nationality of the person harged. () Subsetion () does not apply in relation to any harge of onspiray brought by virtue of paragraphs and of Shedule to the Criminal Justie At 00. () Subsetion () does not apply in relation to any harge brought by virtue of setion ZE. ZD Rules for determining ertain jurisditional questions relating to Page

13 Anti-Money Laundering and Other Finanial Crime (Misellaneous Amendments) Bill 0 Setion loation of events P// and drafting In relation to a Group A or Group B offene (a) there is an obtaining of property in the Island if the property is either despathed from or reeived at a plae in the Island; and (b) there is a ommuniation in the Island of any information, instrution, request, demand or other matter if it is sent by any means (i) from a plae in the Island to a plae elsewhere; or (ii from a plae elsewhere to a plae in the Island. ZE Attempt P//A and drafting () If this setion applies to an at, what the person doing the at had in view shall be treated as an offene to whih setion of the Criminal Law At applies. () This setion applies to an at if (a) it is done in the Island; and (b) it would fall within setion of the Criminal Law At as more than merely preparatory to the ommission of a Group A offene but for the fat that that offene, if ompleted, would not be an offene triable in the Island. () Subsetion () above is subjet to setion ZG (relevane of external law). () Where a person does any at to whih this setion applies, the offene whih he or she ommits shall for all purposes be treated as the offene of attempting to ommit the relevant Group A offene. ZF Conspiray and initement P//()-() and drafting () A person may be guilty of onspiray to defraud if (a) a party to the agreement onstituting the onspiray, or a party s agent, did anything in the Island in relation to the agreement before its formation; (b) a party to it beame a party in the Island (by joining it either in person or through an agent); or () a party to it, or a party s agent, did or omitted anything in the Island in pursuane of it, Page

14 Setion Anti-Money Laundering and Other Finanial Crime (Misellaneous Amendments) Bill 0 0 and the onspiray would be triable in the Island but for the fraud whih the parties to it had in view not being intended to take plae in the Island. () A person may be guilty of initement to ommit a Group A offene if the initement (a) takes plae in the Island; and (b) would be triable in the Island but for what the person harged had in view not being an offene triable in the Island. () Subsetions () and () are subjet to setion ZG. 0 0 ZG Relevane of external law P// and drafting () A person is guilty of an offene triable by virtue of setion ZF() only if the pursuit of the agreed ourse of ondut would at some stage involve (a) an at or omission by one or more of the parties; or (b) the happening of some other event, onstituting an offene under the law in fore where the at, omission or other event was intended to take plae. () A person is guilty of an offene triable by virtue of setion ZE or setion ZF() only if what that person had in view would involve the ommission of an offene under the law in fore where the whole or any part of it was intended to take plae. () Condut punishable under the law in fore in any plae is an offene under that law for the purposes of this setion, however it is desribed in that law. () Subjet to subsetion (), a ondition speified in subsetion () or () shall be taken to be satisfied unless, not later than speified by the ourt, the defene serve on the proseution a notie (a) stating that, on the fats as alleged with respet to the relevant ondut, the ondition is not in their opinion satisfied; (b) showing their grounds for that opinion; and () requiring the proseution to show that it is satisfied. () In subsetion () "the relevant ondut" means (a) where the ondition in subsetion () is in question, the agreed ourse of ondut; and (b) where the ondition in subsetion () is in question, what the defendant had in view. Page

15 Anti-Money Laundering and Other Finanial Crime (Misellaneous Amendments) Bill 0 Setion () The ourt, if it thinks fit, may permit the defene to require the proseution to show that the ondition is satisfied without the prior servie of a notie under subsetion (). () In the Court of General Gaol Delivery the question whether the ondition is satisfied shall be deided by the Deemster alone. 0 ZH Appliation of Part A Nothing in any provision of this Part applies to any at, omission or other event ourring before the ommenement of that provision.. () In setion (evidene or information for use outside the Island), subsetion () is repealed. () In setion (), paragraph () is repealed. Setions and Fraud At 0 repealed Setions and of the Fraud At 0 are repealed. 0 0 PART PENALTIES FOR FAILURE TO COMPLY WITH CERTAIN REQUIREMENTS Anti-Terrorism and Crime At 00 amended () The Anti-Terrorism and Crime At 00 is amended in aordane with subsetion (). () In paragraph () of Shedule (finanial information), for on summary onvition to a fine not exeeding,000, substitute (a) on summary onvition to a fine not exeeding level on the standard sale or to ustody for a term not exeeding months, or to both; (b) on onvition on information to a fine or to ustody for a term not exeeding years, or to both.. Finanial Intelligene Unit At 0 amended () The Finanial Intelligene Unit At 0 is amended in aordane with subsetion (). () For setion 0() (offene for failing to omply with request), substitute () A person guilty of an offene under subsetion (), () or () is liable Page

16 Setion Anti-Money Laundering and Other Finanial Crime (Misellaneous Amendments) Bill 0 (a) (b) on summary onvition to a fine not exeeding level on the standard sale or to ustody for a term not exeeding months, or to both; on onvition on information to a fine or to ustody for a term not exeeding years, or to both Proeeds of Crime At 00 amended () The Proeeds of Crime At 00 is amended in aordane with subsetions () and (). () In setion A (prodution orders: offenes) (a) omit subsetion (); and (b) for subsetion (), substitute () A person guilty of an offene under subsetion () or () is liable (a) on summary onvition to a fine not exeeding level on the standard sale or to ustody for a term not exeeding months, or to both; (b) on onvition on information to a fine or to ustody for a term not exeeding years, or to both.. () In setion (dislosure orders: offenes) (a) omit subsetion (); and (b) for subsetion (), substitute () A person guilty of an offene under subsetion () or () is liable (a) on summary onvition to a fine not exeeding level on the standard sale or to ustody for a term not exeeding months, or to both; (b) on onvition on information to a fine or to ustody for a term not exeeding years, or to both.. 0 PART ADDITIONAL GAMBLING DECISIONS SUBJECT TO APPEAL 0 Gambling (Amendment) At 00 amended () The Gambling (Amendment) At 00 is amended in aordane with subsetions () and (). () In setion () (stay pending appeal) for setion ()() to (e), substitute setion of the Gambling (Anti-Money Laundering and Countering the Finaning of Terrorism) At 0 (publi statements). Page

17 Anti-Money Laundering and Other Finanial Crime (Misellaneous Amendments) Bill 0 Setion () In Shedule (deisions subjet to appeal), immediately after paragraph, insert Gambling generally. Any deision made or ation taken by the Commissioners under any of the setions listed in setion () of the Gambling (Anti- Money Laundering and Countering the Finaning of Terrorism) At PART ADDITIONAL RECORD KEEPING REQUIREMENTS IN RESPECT OF FOUNDATIONS Foundations At 0 amended () The Foundations At 0 is amended in aordane with subsetions () to (). () In setion (appliation for the establishment of a foundation) (a) after subsetion ()(a), insert (aa) a opy of the foundation rules within whih any information from whih a person an or may be identified has been redated; and ; and (b) after subsetion (), insert (A) Where the foundation rules are not in English, the foundation must provide a opy of an aurate English translation of the rules to the Registrar. () In setion (douments to be kept at business address of foundation) (a) in subsetion (), omit or outside ; and (b) after subsetion ()(f) insert (g) a register of the names and addresses of all founders of the foundation; (h) a register of the names and addresses of all known benefiiaries under the foundation; and (i) proof of registration of the foundation.. () In setion (amendment of the foundation instrument) (a) after foundation instrument, insert or foundation rules in (i) subsetion (); (ii) subsetion ()(a); and (iii) subsetion () in both plaes; (b) in subsetion (), after to amend the foundation instrument, insert or foundation rules ; and Page

18 Setion Anti-Money Laundering and Other Finanial Crime (Misellaneous Amendments) Bill 0 () in the setion heading after foundation instrument, insert or foundation rules. () In setion (register to be kept and made available for publi inspetion) after subsetion () insert (A) The Registrar must inlude in the register the foundation rules of eah foundation in the form provided for by setion ()(aa) PART POWER TO MAKE ENQUIRIES IN RELATION TO INFORMATION SUBMITTED FOR REGISTRATION Partnership At 0 amended In the Partnership At 0, after setion, insert A Department not liable for auray of information submitted () To avoid doubt, the Department is not liable for the auray of any doument submitted for inlusion on any register or index it maintains under this At. () Despite subsetion (), the Department may make suh enquiries as it onsiders appropriate in the irumstanes to establish the auray of any suh information.. Companies At amended In the Companies At, after setion A, insert B Department not liable for auray of information submitted () To avoid doubt, the Department is not liable for the auray of any doument submitted for inlusion on any register it maintains under this At. () Despite subsetion (), the Department may make suh enquiries as it onsiders appropriate in the irumstanes to establish the auray of any suh information.. Limited Liability Companies At amended In the Limited Liability Companies At, after setion D, insert E Department not liable for auray of information submitted () To avoid doubt, the Department is not liable for the auray of any doument submitted for registration under this At. Page

19 Anti-Money Laundering and Other Finanial Crime (Misellaneous Amendments) Bill 0 Setion () Despite subsetion (), the Department may make suh enquiries as it onsiders appropriate in the irumstanes to establish the auray of any suh information Companies At 00 amended In the Companies At 00, after setion 0, insert 0A Registrar not liable for auray of information submitted () To avoid doubt, the Registrar is not liable for the auray of any doument submitted for inlusion on any register he or she maintains under this At. () Despite subsetion (), the Registrar may make suh enquiries as he or she onsiders appropriate in the irumstanes to establish the auray of any suh information.. Foundations At 0 amended In the Foundations At 0, after setion 0, insert 0A Registrar not liable for auray of information submitted () To avoid doubt, the Registrar is not liable for the auray of any information submitted for inlusion on the register. () Despite subsetion (), the Registrar may make suh enquiries as he or she onsiders appropriate in the irumstanes to establish the auray of any suh information.. 0 PART AML/CFT INVESTIGATIONS Finanial Servies At 00 amended In Shedule, paragraph ()(ba) to the Finanial Servies At 00 (funtions), after regulated ativities insert, regulated insurane ativities or regulated pensions ativities. Insurane At 00 amended After paragraph ()(h) in Shedule to the Insurane At 00, insert ; or (i) any investigation into potential liability arising from a breah of AML/CFT requirements within the meaning (for the time being) of the Anti-Money Laundering and Countering the Finaning of Terrorism Code 0 as it has Page

20 Setion Anti-Money Laundering and Other Finanial Crime (Misellaneous Amendments) Bill 0 effet from time to time and any instrument or enatment from time to time amending or replaing that Code.. Page 0

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22 IN THE KEYS ANTI-MONEY LAUNDERING AND OTHER FINANCIAL CRIME (MISCELLANEOUS AMENDMENTS) BILL 0 A BILL to amend the Anti- Terrorism and Crime At 00, the Proeeds of Crime At 00, the Terrorism and Other Crime (Finanial Restritions) At 0 and the Finanial Intelligene Unit At 0, to amend ertain reord-keeping provisions of the Foundations At 0, to amend the Companies At, the Companies At 00, the Foundations At 0, the Limited Liability Companies At and the Partnership At 0 in order to provide powers to make enquiries in respet of information to be registered, in aordane with reommendations speified in the Fifth Round Mutual Evaluation Report of the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Finaning of Terrorism; to amend the Criminal Justie At Published by Authority

23 Anti-Money Laundering and Other Finanial Crime (Misellaneous Amendments) Bill 0 Explanatory Memorandum to make provision for the jurisdition of ourts in the Island in relation to ertain riminal offenes; to amend the Gambling (Amendment) At 00 to add to the deisions that may be appealed under Shedule to that At and to amend the matters in respet of whih there may be a stay pending an appeal; to amend Shedule to the Finanial Servies At 00 in relation to the persons in respet of whih an AML/CFT investigation may be onduted and Shedule of the Insurane At 00 so as to apply ertain powers available under it to suh investigations; and for onneted purposes. Approved by the Counil of Ministers for introdution in the House of Keys. MISS BETTISON M.H.K. MARCH 0 Page xxiii

24 IN THE KEYS Published by Authority