Criminal Justice (Money Laundering and Terrorist Financing) Act 2010

Number 6 of 2010

CRIMINAL JUSTICE (MONEY LAUNDERING AND TERRORIST FINANCING) ACT 2010

ARRANGEMENT OF SECTIONS

PART 1

Preliminary

Section

1. Short title and commencement.

2. Interpretation.

3. Regulations.

4. Repeals and revocations.

5. Expenses.

PART 2

Money Laundering Offences

6. Interpretation (Part 2).

7. Money laundering occurring in State.

8. Money laundering outside State in certain circumstances.

9. Attempts, outside State, to commit offence in State.

10. Aiding, abetting, counselling or procuring outside State commission of offence in State.

11. Presumptions and other matters.

12. Location of proceedings relating to offences committed outside State.

13. Consent of DPP required for proceedings for offences committed outside State.

14. Certificate may be evidence in proceedings under this Part.

15. Double jeopardy.

16. Revenue offence committed outside State.

PART 3

Directions, Orders and Authorisations Relating to Investigations

17. Direction or order not to carry out service or transaction.

18. Notice of direction or order.

19. Revocation of direction or order on application.

20. Order in relation to property subject of direction or order.

21. Cessation of direction or order on cessation of investigation.

22. Suspicious transaction report not to be disclosed.

23. Authorisation to proceed with act that would otherwise comprise money laundering.

PART 4

Provisions Relating to Finance Services Industry, Professional Service Providers and Others

Chapter 1

Interpretation (Part 4)

24. Definitions.

25. Meaning of “designated person”.

26. Beneficial owner in relation to bodies corporate.

27. Beneficial owner in relation to partnerships.

28. Beneficial owner in relation to trusts.

29. Beneficial owner in relation to estates of deceased persons.

30. Other persons who are beneficial owners.

Chapter 2

Designation of places other than Member States — procedures for detecting money laundering or terrorist financing

31. Designation of places imposing requirements equivalent to Third Money Laundering Directive.

32. Designation of places having inadequate procedures for detection of money laundering or terrorist financing.

Chapter 3

Customer Due Diligence

33. Identification and verification of customers and beneficial owners.

34. Exemptions from section 33.

35. Special measures applying to business relationships.

36. Exemption from section 35(1).

37. Enhanced customer due diligence — politically exposed persons.

38. Enhanced customer due diligence — correspondent banking relationships.

39. Designated person’s discretion to apply additional enhanced customer due diligence measures.

40. Reliance on other persons to carry out customer due diligence.

Chapter 4

Reporting of suspicious transactions and of transactions involving certain places

41. Interpretation (Chapter 4).

42. Requirement for designated persons and related persons to report suspicious transactions.

43. Requirement for designated persons to report transactions connected with places designated under section 32.

44. Defence — internal reporting procedures.

45. Use of reported and other information in investigations.

46. Disclosure not required in certain circumstances.

47. Disclosure not to be treated as breach.

Chapter 5

Tipping off by designated persons

48. Interpretation (Chapter 5).

49. Tipping off.

50. Defence — disclosure to customer in case of direction or order to suspend service or transaction.

51. Defences — disclosures within undertaking or group.

52. Defences — other disclosures between institutions or professionals.

53. Defences — other disclosures.

Chapter 6

Internal policies and procedures, training and record keeping

54. Internal policies and procedures and training.

55. Keeping of records by designated persons.

Chapter 7

Special provisions applying to credit and financial institutions

56. Measures for retrieval of information relating to business relationships.

57. Application of certain requirements to branches and subsidiaries in non-Member States.

58. Anonymous accounts.

59. Relationships between credit institutions and shell banks.

Chapter 8

Monitoring of designated persons

60. Meaning of “competent authority”.

61. Agreements between competent authorities where more than one applicable.

62. Meaning of “State competent authority”.

63. General functions of competent authorities.

64. Application of other enactments.

65. Annual reporting.

66. Request to bodies to provide names, addresses and other information relating to designated persons.

67. Direction to furnish information or documents.

68. Direction to provide explanation of documents.

69. Purpose of direction under section 67 or 68.

70. Self-incrimination (sections 67 and 68).

71. Direction to designated person to comply with obligations under this Part.

72. Appointment of authorised officers.

73. Warrant of appointment.

74. Powers may only be exercised for assisting State competent authority.

75. General power of authorised officers to enter premises.

76. Entry into residential premises only with permission or warrant.

77. Power of authorised officers to do things at premises.

78. Entry to premises and doing of things under warrant.

79. Authorised officer may be accompanied by others.

80. Offence to obstruct, interfere or fail to comply with request.

81. Self-incrimination — questions of authorised officers.

82. Production of documents or information not required in certain circumstances.

83. Disclosure or production not to be treated as breach or to affect lien.

Chapter 9

Authorisation of Trust or Company Service Providers

84. Interpretation (Chapter 9).

85. Meaning of “fit and proper person”.

86. Authorisations held by partnerships.

87. Prohibition on carrying on business of trust or company service provider without authorisation.

88. Application for authorisation.

89. Grant and refusal of applications for authorisation.

90. Minister may impose conditions when granting an application for an authorisation.

91. Terms of authorisation.

92. Renewal of authorisation.

93. Minister may amend authorisation.

94. Offence to fail to comply with conditions or prescribed requirements.

95. Holder of authorisation to ensure that principal officers and beneficial owners are fit and proper persons.

96. Revocation of authorisation by Minister on application of holder.

97. Revocation of authorisation other than on application of holder.

98. Direction not to carry out business other than as directed.

99. Minister to publish notice of revocation or direction.

100. Appeals against decisions of Minister.

101. Appeal Tribunals.

102. Provision of information by Garda Síochána as to whether or not person is fit and proper person.

103. Extension of powers under Chapter 8 for purposes related to this Chapter.

104. Register of persons holding authorisations.

105. Minister to publish list of persons holding authorisations.

106. Holders of authorisations to retain certain records.

Chapter 10

Other

107. Guidelines.

108. Minister may delegate certain functions under this Part.

109. Registration of persons directing private members’ clubs.

PART 5

Miscellaneous

110. Service of documents.

111. Offences — directors and others of bodies corporate and unincorporated bodies.

112. Disclosure of information in good faith.

113. Amendment of Bail Act 1997.

114. Amendment of Central Bank Act 1942.

115. Amendment of Courts (Supplemental Provisions) Act 1961.

116. Consequential amendment of Central Bank Act 1997.

117. Consequential amendment of Criminal Justice Act 1994.

118. Consequential amendment of Criminal Justice (Mutual Assistance) Act 2008.

119. Consequential amendment of Criminal Justice (Theft and Fraud Offences) Act 2001.

120. Consequential amendment of Investor Compensation Act 1998.

121. Consequential amendment of Taxes Consolidation Act 1997.

122. Consequential amendment of Taxi Regulation Act 2003.

SCHEDULE 1

REVOCATIONS OF STATUTORY INSTRUMENTS

SCHEDULE 2

ANNEX I TO RECAST BANKING CONSOLIDATION DIRECTIVE

LIST OF ACTIVITIES SUBJECT TO MUTUAL RECOGNITION

Acts Referred to

Number 6 of 2010

CRIMINAL JUSTICE (MONEY LAUNDERING AND TERRORIST FINANCING) ACT 2010

AN ACT TO PROVIDE FOR OFFENCES OF, AND RELATED TO, MONEY LAUNDERING IN AND OUTSIDE THE STATE; TO GIVE EFFECT TO DIRECTIVE 2005/60/EC OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL OF 26 OCTOBER 2005 ON THE PREVENTION OF THE USE OF THE FINANCIAL SYSTEM FOR THE PURPOSE OF MONEY LAUNDERING AND TERRORIST FINANCING; TO PROVIDE FOR THE REGISTRATION OF PERSONS DIRECTING PRIVATE MEMBERS’ CLUBS; TO PROVIDE FOR THE AMENDMENT OF THE CENTRAL BANK ACT 1942 AND THE COURTS (SUPPLEMENTAL PROVISIONS) ACT 1961; TO PROVIDE FOR THE CONSEQUENTIAL REPEAL OF CERTAIN PROVISIONS OF THE CRIMINAL JUSTICE ACT 1994; THE CONSEQUENTIAL AMENDMENT OF CERTAIN ENACTMENTS AND THE REVOCATION OF CERTAIN STATUTORY INSTRUMENTS; AND TO PROVIDE FOR RELATED MATTERS.

[5th May, 2010]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: