{"id":20103,"date":"2022-11-06T20:32:16","date_gmt":"2022-11-06T20:32:16","guid":{"rendered":"https:\/\/legalblog.ie\/?p=20103"},"modified":"2024-03-25T08:17:37","modified_gmt":"2024-03-25T08:17:37","slug":"aml-scope-basics","status":"publish","type":"post","link":"https:\/\/legalblog.ie\/aml-scope-basics\/","title":{"rendered":"AML Scope &#038; Basics"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_63 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/#Money_Laundering\" title=\"Money Laundering\">Money Laundering<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/#Identity\" title=\"Identity\">Identity<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/#Criminal_Conduct\" title=\"Criminal Conduct\">Criminal Conduct<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/#Terrorist_Financing\" title=\"Terrorist Financing\">Terrorist Financing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/#Designated_Businesses\" title=\"Designated Businesses\">Designated Businesses<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/#Offences\" title=\"Offences\">Offences<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/#Connection_with_State\" title=\"Connection with State\">Connection with State<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/#Presumptions_in_Offences\" title=\"Presumptions in Offences\">Presumptions in Offences<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/#Official_Directions\" title=\"Official Directions\">Official Directions<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#CRIMINAL_JUSTICE_MONEY_LAUNDERING_AND_TERRORIST_FINANCING_ACT_2010\" title=\"CRIMINAL JUSTICE (MONEY LAUNDERING AND TERRORIST FINANCING) ACT 2010\">CRIMINAL JUSTICE (MONEY LAUNDERING AND TERRORIST FINANCING) ACT 2010<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Interpretation\" title=\"Interpretation.\">Interpretation.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Regulations\" title=\"Regulations.\">Regulations.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Repeals_and_revocations\" title=\"Repeals and revocations.\">Repeals and revocations.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Money_Laundering_Offences\" title=\"Money Laundering Offences\">Money Laundering Offences<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Interpretation_Part_2\" title=\"Interpretation (Part 2).\">Interpretation (Part 2).<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Money_laundering_occurring_in_State\" title=\"Money laundering occurring in State.\">Money laundering occurring in State.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Money_laundering_outside_State_in_certain_circumstances\" title=\"Money laundering outside State in certain circumstances.\">Money laundering outside State in certain circumstances.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Attempts_outside_State_to_commit_offence_in_State\" title=\"Attempts, outside State, to commit offence in State.\">Attempts, outside State, to commit offence in State.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Aiding_abetting_counselling_or_procuring_outside_State_commission_of_offence_in_State\" title=\"Aiding, abetting, counselling or procuring outside State commission of offence in State.\">Aiding, abetting, counselling or procuring outside State commission of offence in State.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Presumptions_and_other_matters\" title=\"Presumptions and other matters.\">Presumptions and other matters.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Location_of_proceedings_relating_to_offences_committed_outside_State\" title=\"Location of proceedings relating to offences committed outside State.\">Location of proceedings relating to offences committed outside State.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Consent_of_DPP_required_for_proceedings_for_offences_committed_outside_State\" title=\"Consent of DPP required for proceedings for offences committed outside State.\">Consent of DPP required for proceedings for offences committed outside State.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Certificate_may_be_evidence_in_proceedings_under_this_Part\" title=\"Certificate may be evidence in proceedings under this Part.\">Certificate may be evidence in proceedings under this Part.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Double_jeopardy\" title=\"Double jeopardy.\">Double jeopardy.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Revenue_offence_committed_outside_State\" title=\"Revenue offence committed outside State.\">Revenue offence committed outside State.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Direction_or_order_not_to_carry_out_service_or_transaction\" title=\"Direction or order not to carry out service or transaction.\">Direction or order not to carry out service or transaction.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Notice_of_direction_or_order\" title=\"Notice of direction or order.\">Notice of direction or order.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-28\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Revocation_of_direction_or_order_on_application\" title=\"Revocation of direction or order on application.\">Revocation of direction or order on application.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-29\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Order_in_relation_to_property_subject_of_direction_or_order\" title=\"Order in relation to property subject of direction or order.\">Order in relation to property subject of direction or order.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-30\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Cessation_of_direction_or_order_on_cessation_of_investigation\" title=\"Cessation of direction or order on cessation of investigation.\">Cessation of direction or order on cessation of investigation.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-31\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Suspicious_transaction_report_not_to_be_disclosed\" title=\"Suspicious transaction report not to be disclosed.\">Suspicious transaction report not to be disclosed.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-32\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Authorisation_to_proceed_with_act_that_would_otherwise_comprise_money_laundering\" title=\"Authorisation to proceed with act that would otherwise comprise money laundering.\">Authorisation to proceed with act that would otherwise comprise money laundering.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-33\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Provisions_Relating_to_Finance_Services_Industry_Professional_Service_Providers_and_Others\" title=\"Provisions Relating to Finance Services Industry, Professional Service Providers and Others\">Provisions Relating to Finance Services Industry, Professional Service Providers and Others<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-34\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Interpretation_Part_4\" title=\"Interpretation (Part 4)\">Interpretation (Part 4)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-35\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Definitions\" title=\"Definitions.\">Definitions.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-36\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Meaning_of_%E2%80%9Cdesignated_person%E2%80%9D\" title=\"Meaning of \u201cdesignated person\u201d.\">Meaning of \u201cdesignated person\u201d.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-37\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Beneficial_owner_in_relation_to_bodies_corporate\" title=\"Beneficial owner in relation to bodies corporate.\">Beneficial owner in relation to bodies corporate.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-38\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Beneficial_owner_in_relation_to_partnerships\" title=\"Beneficial owner in relation to partnerships.\">Beneficial owner in relation to partnerships.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-39\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Beneficial_owner_in_relation_to_trusts\" title=\"Beneficial owner in relation to trusts.\">Beneficial owner in relation to trusts.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-40\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Beneficial_owner_in_relation_to_estates_of_deceased_persons\" title=\"Beneficial owner in relation to estates of deceased persons.\">Beneficial owner in relation to estates of deceased persons.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-41\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Other_persons_who_are_beneficial_owners\" title=\"Other persons who are beneficial owners.\">Other persons who are beneficial owners.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-42\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Internal_policies_and_procedures_and_training\" title=\"Internal policies and procedures and training.\">Internal policies and procedures and training.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-43\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Keeping_of_records_by_designated_persons\" title=\"Keeping of records by designated persons.\">Keeping of records by designated persons.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-44\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Special_provisions_applying_to_credit_and_financial_institutions\" title=\"Special provisions applying to credit and financial institutions\">Special provisions applying to credit and financial institutions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-45\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Measures_for_retrieval_of_information_relating_to_business_relationships\" title=\"Measures for retrieval of information relating to business relationships.\">Measures for retrieval of information relating to business relationships.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-46\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Group-wide_policies_and_procedures\" title=\"Group-wide policies and procedures\">Group-wide policies and procedures<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-47\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Additional_measures_where_implementation_of_policies_and_procedures_is_not_possible\" title=\"Additional measures where implementation of policies and procedures is not possible\">Additional measures where implementation of policies and procedures is not possible<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-48\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Anonymous_accounts\" title=\"Anonymous accounts.\">Anonymous accounts.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-49\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Relationships_between_credit_institutions_and_shell_banks\" title=\"Relationships between credit institutions and shell banks.\">Relationships between credit institutions and shell banks.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-50\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Authorisation_of_Trust_or_Company_Service_Providers\" title=\"Authorisation of Trust or Company Service Providers\">Authorisation of Trust or Company Service Providers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-51\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Defence\" title=\"Defence\">Defence<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-52\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Minister_may_delegate_certain_functions_under_this_Part\" title=\"Minister may delegate certain functions under this Part.\">Minister may delegate certain functions under this Part.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-53\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Obligation_for_certain_designated_persons_to_register_with_Central_Bank_of_Ireland\" title=\"Obligation for certain designated persons to register with Central Bank of Ireland\">Obligation for certain designated persons to register with Central Bank of Ireland<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-54\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Obligation_for_cheque_cashing_offices_to_register_with_Central_Bank_of_Ireland\" title=\"Obligation for cheque cashing offices to register with Central Bank of Ireland\">Obligation for cheque cashing offices to register with Central Bank of Ireland<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-55\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Cancellation_of_registration_and_removal_from_register\" title=\"Cancellation of registration and removal from register\">Cancellation of registration and removal from register<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-56\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Notice_of_refusal_or_cancellation_of_registration_and_right_to_make_representations\" title=\"Notice of refusal or cancellation of registration and right to make representations\">Notice of refusal or cancellation of registration and right to make representations<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-57\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Registration_subject_to_conditions\" title=\"Registration subject to conditions\">Registration subject to conditions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-58\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Person_registered_to_ensure_that_principal_officers_and_beneficial_owners_are_fit_and_proper_persons\" title=\"Person registered to ensure that principal officers and beneficial owners are fit and proper persons\">Person registered to ensure that principal officers and beneficial owners are fit and proper persons<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-59\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Direction_not_to_carry_out_business_other_than_as_directed\" title=\"Direction not to carry out business other than as directed\">Direction not to carry out business other than as directed<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-60\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Provision_of_information_by_Garda_Siochana_as_to_whether_or_not_person_is_fit_and_proper_person\" title=\"Provision of information by Garda S\u00edoch\u00e1na as to whether or not person is fit and proper person\">Provision of information by Garda S\u00edoch\u00e1na as to whether or not person is fit and proper person<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-61\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Persons_registered_to_retain_certain_records\" title=\"Persons registered to retain certain records\">Persons registered to retain certain records<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-62\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Registration_of_persons_directing_private_members_clubs\" title=\"Registration of persons directing private members\u2019 clubs.\">Registration of persons directing private members\u2019 clubs.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-63\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Managers_and_beneficial_owners_of_private_members_clubs_to_hold_certificates_of_fitness\" title=\"Managers and beneficial owners of private members\u2019 clubs to hold certificates of fitness\">Managers and beneficial owners of private members\u2019 clubs to hold certificates of fitness<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-64\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Application_for_certificate_of_fitness\" title=\"Application for certificate of fitness\">Application for certificate of fitness<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-65\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Grounds_of_refusal_to_grant_certificate_of_fitness\" title=\"Grounds of refusal to grant certificate of fitness\">Grounds of refusal to grant certificate of fitness<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-66\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Duration_of_certificate_of_fitness\" title=\"Duration of certificate of fitness\">Duration of certificate of fitness<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-67\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Appeal_where_application_for_certificate_of_fitness_is_refused\" title=\"Appeal where application for certificate of fitness is refused\">Appeal where application for certificate of fitness is refused<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-68\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Service_of_documents\" title=\"Service of documents.\">Service of documents.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-69\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Offences_%E2%80%94_directors_and_others_of_bodies_corporate_and_unincorporated_bodies\" title=\"Offences \u2014 directors and others of bodies corporate and unincorporated bodies.\">Offences \u2014 directors and others of bodies corporate and unincorporated bodies.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-70\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Disclosure_of_information_in_good_faith\" title=\"Disclosure of information in good faith.\">Disclosure of information in good faith.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-71\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Amendment_of_Bail_Act_1997\" title=\"Amendment of Bail Act 1997.\">Amendment of Bail Act 1997.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-72\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Amendment_of_Central_Bank_Act_1942\" title=\"Amendment of Central Bank Act 1942.\">Amendment of Central Bank Act 1942.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-73\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Prescribed_amounts_under_section_33AQ_of_Central_Bank_Act_1942_in_respect_of_certain_contraventions\" title=\"Prescribed amounts under section 33AQ of Central Bank Act 1942 in respect of certain contraventions\">Prescribed amounts under section 33AQ of Central Bank Act 1942 in respect of certain contraventions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-74\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Amendment_of_Courts_Supplemental_Provisions_Act_1961\" title=\"Amendment of Courts (Supplemental Provisions) Act 1961.\">Amendment of Courts (Supplemental Provisions) Act 1961.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-75\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Consequential_amendment_of_Central_Bank_Act_1997\" title=\"Consequential amendment of Central Bank Act 1997.\">Consequential amendment of Central Bank Act 1997.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-76\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Consequential_amendment_of_Criminal_Justice_Act_1994\" title=\"Consequential amendment of Criminal Justice Act 1994.\">Consequential amendment of Criminal Justice Act 1994.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-77\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Consequential_amendment_of_Criminal_Justice_Mutual_Assistance_Act_2008\" title=\"Consequential amendment of Criminal Justice (Mutual Assistance) Act 2008.\">Consequential amendment of Criminal Justice (Mutual Assistance) Act 2008.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-78\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Consequential_amendment_of_Criminal_Justice_Theft_and_Fraud_Offences_Act_2001\" title=\"Consequential amendment of Criminal Justice (Theft and Fraud Offences) Act 2001.\">Consequential amendment of Criminal Justice (Theft and Fraud Offences) Act 2001.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-79\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Consequential_amendment_of_Investor_Compensation_Act_1998\" title=\"Consequential amendment of Investor Compensation Act 1998.\">Consequential amendment of Investor Compensation Act 1998.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-80\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Consequential_amendment_of_Taxes_Consolidation_Act_1997\" title=\"Consequential amendment of Taxes Consolidation Act 1997.\">Consequential amendment of Taxes Consolidation Act 1997.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-81\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#LIST_OF_ACTIVITIES_SUBJECT_TO_MUTUAL_RECOGNITION\" title=\"LIST OF ACTIVITIES SUBJECT TO MUTUAL RECOGNITION\">LIST OF ACTIVITIES SUBJECT TO MUTUAL RECOGNITION<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-82\" href=\"https:\/\/legalblog.ie\/aml-scope-basics\/2\/#Criminal_Justice_Money_Laundering_and_Terrorist_Financing_Section_31_Order_2012\" title=\"Criminal Justice (Money Laundering and Terrorist Financing) (Section 31) Order 2012.\">Criminal Justice (Money Laundering and Terrorist Financing) (Section 31) Order 2012.<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"Money_Laundering\"><\/span>Money Laundering<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Money-laundering is concealing the origin of money representing the proceeds of crime.\u00a0 It is \u00a0a method by which proceeds of crime are legitimised and concealed. Since the mid-1990s, legislation, most of which has derived from European Union, has been enacted with the purpose of preventing money-laundering. \u00a0The September 11<sup>th<\/sup> 2001 attacks, has led to further legislation, aimed at organised criminals and terrorists.<\/p>\n<p>The law on money-laundering and terrorist financing was updated by 2010 legislation. The primary purpose of the 2018 Act was \u00a0to amend the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (\u201cthe Act of 2010\u201d) in order to transpose, in part, the Fourth EU Money Laundering Directive (2015\/849) into national law, and to give effect to the recommendations of the Financial Action Task Force.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Identity\"><\/span>Identity<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Banks have always had duties in relation to establishing the identity of their customers and ensuring that their accounts were not used for fraud. \u00a0A bank which receives money, which it knows or has reason to believe is paid in breach of trust or constitutes the proceeds of crime, may be liable to return the money or be sued for compensation by the true owner.\u00a0 See the separate sections on the equitable remedies of tracing and constructive trusts etc.<\/p>\n<p>Money-laundering legislation places strict legal obligations on banks, to establish procedures in order to detect money laundering.\u00a0 Financial services firm, banks, solicitors, accountants and many other bodies have obligations in relation to combatting money laundering. \u00a0They must train their staff to detect money-laundering and report it to the Gardai.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Criminal_Conduct\"><\/span>Criminal Conduct<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Criminal conduct is conduct that constitutes an offence or would if done in the State, constitute an offence.\u00a0 A person is guilty of the offence of money laundering, if he engages in any of the following in relation to property that is the proceeds of criminal conduct;<\/p>\n<ul>\n<li>concealing, disguising the true nature, source, location, disposition, movement or ownership of the property or any rights relating to it;<\/li>\n<li>converting, transferring, handling, acquiring, possessing or using the property;<\/li>\n<li>removing the property from or bringing the property into, the State,<\/li>\n<\/ul>\n<p>where the person knows, believes or is reckless as to whether the property is the proceeds of criminal conduct.<\/p>\n<p>The property is the proceeds of criminal conduct where it is derived from or obtained through criminal conduct, whether directly or indirectly, in whole or in part or whether the criminal conduct occurs before or after the commencement of the legislation.\u00a0 It is an offence to attempt to commit any of the above.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Terrorist_Financing\"><\/span>Terrorist Financing<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Terrorist finance includes provision a collection of funds directly or indirectly with the intention or the knowledge that it is to be used to carry out designated terrorist offences.\u00a0 Institutions must establish procedures whereby suspicions are reasonable grounds of money-laundering or terrorist financing activity is disclosed to the authorities.<\/p>\n<p>Funding acts of terrorism directly or indirectly, collecting or receiving funds intended or knowing that they are to be used to carry out terrorist activities is a serious offence. \u00a0\u00a0There are provisions whereby the Couts can freeze funds where there is evidence that they are being used or may be used in committing terrorist offences.<\/p>\n<p>The money-laundering officer also deals with financing terrorism offences.\u00a0 There are similar tipping off provisions.\u00a0 This includes tipping off and disclosing information which may prejudice an investigation into drug trafficking or whether a person is a person against whom a confiscation order may be made.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Designated_Businesses\"><\/span>Designated Businesses<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A range of money laundering vigilance and compliance obligations apply to designated persons.\u00a0 They include:<\/p>\n<ul>\n<li>most credit institutions,<\/li>\n<li>financial institutions,<\/li>\n<li>operators of regulated markets<\/li>\n<li>auditors<\/li>\n<li>external accountants,<\/li>\n<li>legal professionals, including barristers solicitors and notaries providing certain services<\/li>\n<li>tax advisers<\/li>\n<li>trusts or company service providers,<\/li>\n<li>Virtual asset service providers<\/li>\n<li>property service providers,<\/li>\n<li>casinos,<\/li>\n<li>directors of private gambling club,<\/li>\n<li>intermediaries dealing in art where the total transactions exceed \u20ac10,000<\/li>\n<li>persons trading in goods, in respect of transactions to a person in cash of a total of at least \u20ac10,000 in one transaction or a series of transactions, which appear to be linked.\u00a0 The threshold will apply to payments made by the person as well as payments made to the person.<\/li>\n<\/ul>\n<p>Legal professionals are only subject to the Act insofar as they carry out certain services.<\/p>\n<p>Financial institutions include credit institutions insurance undertakings investment funds various investment service providers and intermediaries.<\/p>\n<p>The requirements may apply to a wider class of persons as may be prescribed.<\/p>\n<ul>\n<li>A person is not treated as a designated person for the purpose of the legislation if the annual turnover of the business attributable to operating as a financial institution, credit institution, etc. is less than \u20ac70,000<\/li>\n<li>the total of any single or series of transactions that appear to be linked does not exceed \u20ac1000;<\/li>\n<li>the annual turnover of the person&#8217;s business attributable to credit institution or financial institution operations does not exceed 5% of the total business turnover;<\/li>\n<li>the person provides services when operating as a credit institution only to persons who are customers for the main business activity.<\/li>\n<\/ul>\n<p>Exemptions may apply by regulations made by the Minister where e the activities are carried out on a limited basis and \u00a0there is no risk<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Offences\"><\/span>Offences<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>It is an offence to deal with the proceeds of crime in a manner designed to prevent detection or enable the perpetrator or its associates to enjoy the fruits of the crime. It is an offence to assist in money-laundering. Money-laundering includes any conversion, handling or moving property with the intention of concealing its true identity, nature, source, location, movement or ownership, assisting a person in avoiding prosecution for criminal conduct or avoiding confiscation or concealing its ownership.<\/p>\n<p>It is an offence where a person knows or has reason to believe that assets represent the proceeds of crime or where they are reckless as to whether it represents the proceeds.\u00a0 The lender itself and its agents may be criminally liable.\u00a0 Where they have reported their suspicions to the Garda Siochana, they are cannot be complicit in the crime. provided they comply with the directions of the Garda Siochana in relation to the assets.<\/p>\n<p>The range of offences covered by anti-money-laundering legislation have increased over the years. It has been extended to a wider range of service providers and professions. 2003 \u00a0regulations extended cover to lawyers, auditors, accountants and estate agent. Following the\u00a0 September 11<sup>th<\/sup> 2001 attacks, the legislation was extended to include terrorist financing.<\/p>\n<p>A person who commits the offence of money-laundering is liable on summary conviction, to a fine of up to \u20ac5,000 or 12 months imprisonment or both, or on conviction on indictment, imprisonment of up to 14 years or both.<\/p>\n<p>Knowing or believing that property or assets is the proceeds of criminal conduct includes knowing or believing that it probably comprises such proceeds. A person is reckless as to whether or not property is the proceeds of criminal conduct, if he disregards a risk of such nature and degree that, considering the circumstances in which he carries out the act above, the disregard of that risk involves culpability of a high degree.<\/p>\n<p>A person handles property if he receives, arranges to receive, retains, removes, disposes or realises the property, or arranges to do any of these things, for the benefit of another.<\/p>\n<p>A person does not commit a money laundering offence in \u00a0doing anything in relation to property that is the proceeds of criminal conduct, for so long as he does the thing in accordance with a direction or authority given under the legislation, or where he is a designated person, makes a report in relation to the property.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Connection_with_State\"><\/span>Connection with State<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A person who, engages in conduct outside the State, which would constitute the above offence, is guilty of an offence in any of the following circumstances:<\/p>\n<ul>\n<li>the activity is on an Irish registered ship; a registered aircraft;<\/li>\n<li>the conduct constitutes an offence under the law of that place and the person is an individual who is a citizen of Ireland or ordinarily resident in the State, or a company established under the laws of the State or a company registered under the Companies Act;<\/li>\n<li>A request for the person for the purpose of trying him for an offence in respect of the conduct, has been made under extradition legislation or a European arrest warrant has been received from an issuing State for the purpose of bringing proceedings against the person, and a decision has been made that the person is not to be surrendered in accordance with the warrant.<\/li>\n<\/ul>\n<p>A person who has his principal residence in the State for the 12 months before the offence, is taken to be ordinarily resident in the State of commission of the offence. It is similarly an offence to attempt in a place outside the State, to commit any of the above offences.\u00a0 This is subject to the same sanctions.<\/p>\n<p>Similarly, it is an offence to aids, abets, counsel or procures the commission of an offence in the State or outside of the State.\u00a0 The same sanctions apply.<\/p>\n<p>Proceedings for an offence committed out of the State may be taken in any place in the State. The offence is deemed to be committed in that place.<\/p>\n<p>Where the offence relates to criminal conduct occurring in a place outside the State, a certificate by a lawyer practicing in the state, stating that the offence is a conduct in that place, is evidence that this is the case unless the contrary is shown.\u00a0 It is presumed to be signed by the person who has forwarded it.\u00a0 Provision is made for certification of translation of the document.<\/p>\n<p>A person who has been acquitted or convicted of an offence outside the State is not to be tried again for the same conduct which constituted the offence of which he had been acquitted or convicted.\u00a0 It is confirmed for the removal of doubt that the legislation extends to Revenue offences committed outside the State.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Presumptions_in_Offences\"><\/span>Presumptions in Offences<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Where an accused has engaged or attempted to engage in any of the following in relation to property that is the proceeds of criminal conduct, in circumstances in which it is reasonable to believe that the accused knew or believed the property was the proceeds of criminal conduct, or was reckless as to whether it so was, he is presumed to have so known or been reckless, unless the Court, is satisfied, having regard to the totality of the evidence, that there is a reasonable doubt that the accused so knew or was reckless.\u00a0 The relevant conduct is the commission of the principal offence, i.e., concealing, disguising, converting, removing from the State etc.<\/p>\n<p>Where an accused has engaged in, or attempted to engage in, the offence in circumstances where it is reasonable to conclude that the property is the proceeds of criminal conduct, those circumstances are evidence that this is the position.<\/p>\n<p>Circumstances in which it is reasonable to conclude that property is the proceeds of criminal conduct include any of the following:<\/p>\n<ul>\n<li>the value of the property is, it is reasonable to conclude, out of proportion to the income and expenditure of the accused or other person in a case where the accused engaged in the conduct on behalf of or at the request of, the other person;<\/li>\n<li>the conduct concerned involves actual or purported purchase or sale of goods or services of an amount where it is reasonable to conclude is out of proportion to their market value whether by overvalue or overvalue;<\/li>\n<li>involves use of false names;<\/li>\n<li>the accused has stated he is engaged in the conduct concerned on behalf of, or at the request of another person, but has not provided information allowing the other person to be identified;<\/li>\n<li>where the accused has concealed, disguised the true nature, source, location, disposition, movement or ownership of the assets, or rights to assets and has no reasonable explanation for such concealment or disguise.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Official_Directions\"><\/span>Official Directions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A member of An Garda S\u00edoch\u00e1na of the rank of superintendent or above may, direct a person not to carry out a specified service or transaction during a period of up to seven days, if the member is satisfied on information that a direction is reasonably necessary to enable Gardai carry out preliminary investigations into whether there are reasonable grounds to suspect that the service or transaction would, consist of money laundering or terrorist financing.<\/p>\n<p>The District Court may grant an equivalent order for up to 28 days. It may be made and extended on more than one occasion.\u00a0 A one-sided unilateral application may be made. The District Court in private. Breach of a direction constitutes an offence.<\/p>\n<p>There is provisions for the notification of the order to the person concerned. The notification should give reasons for the direction or order concerned and advise the person affected that he or she may make an application below for payment of monies for certain necessities<\/p>\n<p>There are exceptions when it is not reasonably practicable to ascertain the person\u2019s whereabouts or there are reasonable grounds for believing that disclosure would prejudice the investigation in respect of which the direction is given. In such circumstances the reasons may be excluded from the notice.<\/p>\n<p>An application may be made to revoke or vary the order by the person affected. If the district judge is satisfied that the relevant criteria no longer apply the order may be amended or discharged.<\/p>\n<p>There are provisions for cessation of the order when the investigation has concluded. The person affected is to be notified.<\/p>\n<p>Reports made under the legislation to the authorities are not to be disclosed in the course of proceedings other than to the judge.<\/p>\n<p>While there is a direction in force in relation to property, a judge may, on the application of any person affected, make an order that the judge considers appropriate in relation to the property if satisfied it is necessary to discharge reasonable living and other necessary expenses, including legal expenses, or to carry on a business, trade, profession or occupation to which any of the property relates. The application must be on notice of An Garda Siochana&#8217;s direction, or the order ceases at the conclusion of the investigation.<\/p>\n<p><!--nextpage--><\/p>\n<p>&nbsp;<\/p>\n<h2>CRIMINAL JUSTICE (MONEY LAUNDERING AND TERRORIST FINANCING) ACT 2010<\/h2>\n<p>REVISED<\/p>\n<p>Updated to 28 February 2024<\/p>\n<p>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\u2019 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.<\/p>\n<p>[5th May, 2010]<\/p>\n<p>BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:<\/p>\n<p>Annotations<\/p>\n<p>Modifications (not altering text):<\/p>\n<p>C1<br \/>\nSanctions for breaches under Act prescribed (31.03.2014) by European Union (Capital Requirements) Regulations 2014 (S.I. No. 158 of 2014), reg. 55(1), 3(o).<\/p>\n<p>Other provisions on administrative penalties<\/p>\n<p>55. (1) Notwithstanding Part IIIC of the Act of 1942 and the sanctions set out in section 33AQ of the Act of 1942, sanctions may be imposed by the Bank following an inquiry under section 33AO of the Act of 1942 for the contraventions listed in paragraph (3) and may include any or all of the following:<\/p>\n<p>(a) a public statement that identifies the natural person, institution, financial holding company or mixed-financial holding company responsible, and the nature of the breach concerned;<\/p>\n<p>(b) an order requiring the natural or legal person responsible to cease, and desist from, the conduct concerned;<\/p>\n<p>(c) in the case of an institution, withdrawal of the licence or authorisation of the institution in accordance with the enactment under which the licence or authorisation was granted;<\/p>\n<p>(d) subject to Regulation 150, a temporary ban against a member of the institutions management body or any other natural person, who is held responsible, from exercising functions in institutions;<\/p>\n<p>(e) subject to paragraph (2), in the case of a legal person, administrative pecuniary penalties of up to 10 per cent of the total annual net turnover including the gross income consisting of\u2014<\/p>\n<p>(i) interest receivable and similar income,<\/p>\n<p>(ii) income from shares and other variable or fixed-yield securities, and<\/p>\n<p>(iii) commissions or fees receivable, in accordance with Article 316 of the Capital Requirements Regulation, of the undertaking in the preceding business year;<\/p>\n<p>(f) in the case of a natural person, administrative pecuniary penalties of up to \u20ac5,000,000;<\/p>\n<p>(g) administrative pecuniary penalties of up to twice the amount of the profits gained or losses avoided because of the breach where those can be determined.<\/p>\n<p>&#8230;<\/p>\n<p>(3) The contraventions referred to in paragraph (1) are the following: &#8230;<\/p>\n<p>(o) an institution is found liable for a serious breach of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (No. 6 of 2010);<\/p>\n<p>&#8230;<\/p>\n<p>C2<br \/>\nFunctions transferred and references to \u201cDepartment of Public Expenditure and Reform\u201d and \u201cMinister for Public Expenditure and Reform\u201d construed (14.12.2011) by the Public Expenditure and Reform (Transfer of Departmental Administration and Ministerial Functions) Order 2011 (S.I. No. 647 of 2011), in effect as per art. 1(2).<\/p>\n<p>2. (1) The administration and business in connection with the exercise, performance or execution of any functions transferred by this Order are transferred to the Department of Finance.<\/p>\n<p>(2) References to the Department of Public Expenditure and Reform contained in any Act or instrument made under an act and relating to the administration and business transferred by paragraph (1) shall, from the commencement of this Order, be construed as references to the Department of Finance.<\/p>\n<p>3. The functions conferred on the Minister for Public Expenditure and Reform by or under sections 3 and 107(1) of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (No. 6 of 2010) are transferred to the Minister for Finance.<\/p>\n<p>4. References to the Minister for Public Expenditure and Reform contained in any Act or instrument made under an Act and relating to any functions transferred by this Order shall, from the commencement of this Order, be construed as references to the Minister for Finance.<\/p>\n<p>C3<br \/>\nFunctions transferred and references to \u201cDepartment of Finance\u201d and \u201cMinister for Finance\u201d construed (29.07.2011) by Finance (Transfer of Departmental Administration and Ministerial Functions) Order 2011 (S.I. No. 418 of 2011), arts. 2, 3, 5 and sch. 1 part 2, in effect as per art. 1(2).<\/p>\n<p>2. (1) The administration and business in connection with the performance of any functions transferred by this Order are transferred to the Department of Public Expenditure and Reform.<\/p>\n<p>(2) References to the Department of Finance contained in any Act or instrument made thereunder and relating to the administration and business transferred by paragraph (1) shall, on and after the commencement of this Order, be construed as references to the Department of Public Expenditure and Reform.<\/p>\n<p>3. The functions conferred on the Minister for Finance by or under the provisions of \u2014<\/p>\n<p>(a) the enactments specified in Schedule 1, and<\/p>\n<p>(b) the statutory instruments specified in Schedule 2,<\/p>\n<p>are transferred to the Minister for Public Expenditure and Reform.<\/p>\n<p>&#8230;<\/p>\n<p>5. References to the Minister for Finance contained in any Act or instrument under an Act and relating to any functions transferred by this Order shall, from the commencement of this Order, be construed as references to the Minister for Public Expenditure and Reform.<\/p>\n<p>&#8230;<\/p>\n<p>Schedule 1<\/p>\n<p>Enactments<\/p>\n<p>&#8230;<\/p>\n<p>Part 2<\/p>\n<p>1922 to 2011 Enactments<\/p>\n<p>Number and Year<\/p>\n<p>Short Title<\/p>\n<p>Provision<\/p>\n<p>(1)<\/p>\n<p>(2)<\/p>\n<p>(3)<\/p>\n<p>&#8230;<\/p>\n<p>&#8230;<\/p>\n<p>&#8230;<\/p>\n<p>No. 6 of 2010<\/p>\n<p>Criminal Justice (Money Laundering and Terrorist Financing) Act 2010<\/p>\n<p>Sections 3, 101(4) and 107(1)<\/p>\n<p>&#8230;<\/p>\n<p>&#8230;<\/p>\n<p>&#8230;<\/p>\n<p>Editorial Notes:<\/p>\n<p>E1<br \/>\nOffences under ss. 7, 8, 9, 10, 35, 37, 38, 42 and 49 prescribed as \u201crelevant offences\u201d for purposes of Criminal Justice Act 2011 (22\/2011) (9.08.2011) by Criminal Justice Act 2011 (22\/2011), s. 3(1) and sch. 1 par. 21, S.I. No. 411 of 2011.<\/p>\n<p>PART 1<\/p>\n<p>Preliminary<\/p>\n<p>Short title and commencement.<\/p>\n<p>1.\u2014 (1) This Act may be cited as the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010.<\/p>\n<p>(2) This Act shall come into operation on such day or days as may be appointed by order or orders made by the Minister, either generally or with reference to a particular purpose or provision, and different days may be so appointed for different purposes and different provisions.<\/p>\n<p>(3) An order under subsection (2) may, in respect of the repeal of the provisions of the Criminal Justice Act 1994 specified in section 4, and the revocation of the statutory instruments specified in Schedule 1 effected by section 4(2), appoint different days for the repeal of different provisions of the Criminal Justice Act 1994 and the revocation of different statutory instruments or different provisions of them.<\/p>\n<p>Annotations<\/p>\n<p>Editorial Notes:<\/p>\n<p>E2<br \/>\nPower pursuant to section exercised (15.07.2010) by Criminal Justice (Money Laundering and Terrorist Financing) (Commencement) Order 2010 (S.I. No. 342 of 2010).<\/p>\n<p>2. The 15th day of July 2010 is appointed as the day on which the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (No. 6 of 2010) shall come into operation.<\/p>\n<h4>Interpretation.<\/h4>\n<p>2.\u2014 (1) In this Act\u2014<\/p>\n<p>F1[&#8220;Data Protection Regulation&#8221; means Regulation (EU) 2016\/679 of the European Parliament and of the Council of 27 April 201638 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95\/46\/EC (General Data Protection Regulation);]<\/p>\n<p>F2[&#8220;Fourth Money Laundering Directive&#8221; means Directive (EU) 2015\/849 of the European Parliament and of the Council of 20 May 20152 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648\/2012 of the European Parliament and of the Council, and repealing Directive 2005\/60\/EC of the European Parliament and of the Council and Commission Directive 2006\/70\/EC;]<\/p>\n<p>F3[\u2026]<\/p>\n<p>F4[&#8220;Fifth Money Laundering Directive&#8221; means Directive (EU) 2018\/843 of the European Parliament and of the Council of 30 May 20181 amending Directive (EU) 2015\/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending Directives 2009\/138\/EC and 2013\/36\/EU;]<\/p>\n<p>\u201cMinister\u201d means the Minister for Justice, Equality and Law Reform;<\/p>\n<p>\u201cmoney laundering\u201d means an offence under Part 2 ;<\/p>\n<p>F1[&#8220;personal data&#8221; means personal data within the meaning of\u2014<\/p>\n<p>(i) the Data Protection Act 1988,<\/p>\n<p>(ii) the Data Protection Regulation, or<\/p>\n<p>(iii) Part 5 of the Data Protection Act 2018;]<\/p>\n<p>\u201cprescribed\u201d means prescribed by the Minister by regulations made under this Act;<\/p>\n<p>\u201cproperty\u201d means all real or personal property, whether or not heritable or moveable, and includes money and choses in action and any other intangible or incorporeal property;<\/p>\n<p>\u201cterrorist financing\u201d means an offence under section 13 of the Criminal Justice (Terrorist Offences) Act 2005;<\/p>\n<p>\u201cThird Money Laundering Directive\u201d means 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 financing2, as amended by the following:<\/p>\n<p>(a) Directive 2007\/64\/EC of the European Parliament and of the Council of 13 November 2007 on payment services in the internal market amending Directives 97\/7\/EC, 2002\/65\/EC, 2005\/60\/EC and 2006\/48\/EC and repealing Directive 97\/5\/EC3;<\/p>\n<p>(b) Directive 2009\/110\/EC of the European Parliament and of the Council of 16 September 2009 on the taking up, pursuit and prudential supervision of the business of electronic money institutions amending Directives 2005\/60\/EC and 2006\/48\/EC and repealing Directive 2000\/46\/EC4.<\/p>\n<p>F5[(2) A word or expression used in this Act and also used in the Fourth Money Laundering Directive has, unless the contrary intention appears, the same meaning in this Act as in that Directive.]<\/p>\n<p>F4[(3) In this Act a reference to an Appeal Tribunal shall be construed as a reference to the Appeal Tribunal established under section 101A (inserted by section 24 of the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021).]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F1<br \/>\nInserted (25.05.2018) by Data Protection Act 2018 (7\/2018), s. 213(a), S.I. No. 174 of 2018.<\/p>\n<p>F2<br \/>\nInserted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 3(a)(ii), S.I. No. 486 of 2018.<\/p>\n<p>F3<br \/>\nDeleted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 3(a)(i), S.I. No. 486 of 2018.<\/p>\n<p>F4<br \/>\nInserted (23.04.2021) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021 (3\/2021), s. 2(a), (b), S.I. No. 188 of 2021.<\/p>\n<p>F5<br \/>\nSubstituted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 3(b), S.I. No. 486 of 2018.<\/p>\n<p>Modifications (not altering text):<\/p>\n<p>C4<br \/>\nReferences construed (31.03.2014) by European Union (Capital Requirements) Regulations 2014 (S.I. No. 158 of 2014), reg. 160.<\/p>\n<p>References to repealed Directives<\/p>\n<p>160. A reference in any enactment to a Directive repealed by the Capital Requirements Directive shall be construed in accordance with Article 163 of the second-mentioned Directive.<\/p>\n<p>1 OJ No. L 156, 19.6.2018, p. 43<\/p>\n<p>2 OJ No. L 141, 5.6.2015, p. 73<\/p>\n<p>3 OJ L 319, 5.12.2007, p.1<\/p>\n<p>38 OJ No. L 119, 4.5.2016, p.1<\/p>\n<p>4 OJ L 267, 10.10.2009, p.7<\/p>\n<h4>Regulations.<\/h4>\n<p>3.\u2014 (1) The Minister may, after consulting with the Minister for Finance, by regulations provide for any matter referred to in this Act F6[(other than section 106ZC (inserted by the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021))] as prescribed or to be prescribed.<\/p>\n<p>(2) Regulations under this Act may contain such incidental, supplementary and consequential provisions as appear to the Minister F6[(or, in the case of regulations under section 106ZC, the Minister for Finance)] to be necessary or expedient for the purposes of the regulations.<\/p>\n<p>(3) Every regulation made under this Act shall be laid before each House of the Oireachtas as soon as may be after it is made and, if a resolution annulling the regulation is passed by either such House within the next 21 days on which that House has sat after the regulation is laid before it, the regulation shall be annulled accordingly, but without prejudice to the validity of anything previously done under the regulation.<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F6<br \/>\nInserted (23.04.2021) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021 (3\/2021), s. 3(a), (b), S.I. No. 188 of 2021.<\/p>\n<p>Editorial Notes:<\/p>\n<p>E3<br \/>\nPower pursuant to subs. (1) exercised (1.06.2022) by Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (Section 109B) (Certificate of Fitness) Regulations 2022 (S.I. No. 272 of 2022).<\/p>\n<p>E4<br \/>\nPower pursuant to subs. (1) exercised (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (Section 25) (Prescribed Class of Designated Person) Regulations 2018 (S.I. No. 487 of 2018), in effect as per reg. 1(2).<\/p>\n<p>E5<br \/>\nPower pursuant to subs. (1) exercised (1.09.2016) by Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (Competent Authority and State Competent Authority) Regulations 2016 (S.I. No. 453 of 2016), in effect as per reg. 2.<\/p>\n<p>E6<br \/>\nPower pursuant to subs. (1) exercised (3.03.2014) by Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (Competent Authority) Regulations 2014 (S.I. No. 79 of 2014), in effect as per reg. 2.<\/p>\n<p>E7<br \/>\nPower pursuant to subs. (1) exercised (15.07.2010) by Trust or Company Service Provider (Authorisation) (Fees) Regulations 2010 (S.I. No. 348 of 2010), in effect as per reg. 1(2).<\/p>\n<h4>Repeals and revocations.<\/h4>\n<p>4.\u2014 (1) Sections 31, 32, 32A, 57(1) to (6) and (7)(a), 57A and 58(2) of the Criminal Justice Act 1994 are repealed.<\/p>\n<p>(2) The statutory instruments specified in column (1) of Schedule 1 are revoked to the extent specified in column (3) of that Schedule.<\/p>\n<p>Expenses.<\/p>\n<p>5.\u2014 The expenses incurred by the Minister in the administration of this Act shall, to such extent as may be sanctioned by the Minister for Finance, be paid out of moneys provided by the Oireachtas and the expenses incurred by the Minister for Finance in the administration of this Act shall be paid out of moneys provided by the Oireachtas.<\/p>\n<p>PART 2<\/p>\n<h4>Money Laundering Offences<\/h4>\n<p>Annotations<\/p>\n<p>Editorial Notes:<\/p>\n<p>E8<br \/>\nObligation imposed on an applicant for, or the holder of, an authorisation (as a commercial vehicle roadworthiness test operator under Road Safety Authority (Commercial Vehicle Roadworthiness) Act 2012 (16\/2012), s. 9 or 10, or as a commercial vehicle roadworthiness tester under Road Safety Authority (Commercial Vehicle Roadworthiness) Act 2012 (16\/2012), s. 17), or in the case of an authorisation applied for or held by a company, each director and the secretary of that company, to notify the Minister for Transport, Tourism and Sport in writing if he or she is, or has been, convicted of an offence under Part (27.03.2013) by Road Safety Authority (Commercial Vehicle Roadworthiness) Act 2012 (16\/2012), s. 12, S.I. No. 105 of 2013.<\/p>\n<p>E9<br \/>\nPower granted to Minister for Transport, Tourism and Sport, in determining whether an operator has satisfied or continues to satisfy the requirement of good repute, to consider whether the operator, a person who holds a specified position, a shadow operator, or, in the case of a road passenger transport operator, a driver with that operator, has been convicted of an offence under Part (2.12.2011) by Road Transport Act 2011 (31\/2011), s. 4, commenced on enactment.<\/p>\n<p>E10<br \/>\nObligation imposed on person who holds a specified position, a shadow operator, and, in the case of a road passenger transport operator, a driver with that operator, to inform the operator in writing in the event that he or she is or has been convicted of an offence under Part (2.12.2011) by Road Transport Act 2011 (31\/2011), s. 3, commenced on enactment.<\/p>\n<p>E11<br \/>\nObligation imposed on holder of, or applicant for, an operator\u2019s licence to notify the Minister for Transport, Tourism and Sport if a person who holds a specified position, a shadow operator, or, in the case of a road passenger transport operator, a driver with that operator, has been or is convicted an offence under Part (2.12.2011) by Road Transport Act 2011 (31\/2011), s. 2, commenced on enactment.<\/p>\n<h4>Interpretation (Part 2).<\/h4>\n<p>6.\u2014 In this Part\u2014<\/p>\n<p>F7[&#8220;criminal conduct&#8221; means\u2014<\/p>\n<p>(a) conduct that constitutes an offence,<\/p>\n<p>(b) conduct occurring in a place outside the State that constitutes an offence under the law of the place and would constitute an offence if it were to occur in the State, or<\/p>\n<p>(c) conduct occurring in a place outside the State that would constitute an offence under section 5(1) or 6(1) of the Criminal Justice (Corruption Offences) Act 2018 if it were to occur in the State and the person or official, as the case may be, concerned doing the act, or making the omission, concerned in relation to his or her office, employment, position or business is a foreign official within the meaning of that Act;]<\/p>\n<p>\u201cproceeds of criminal conduct\u201d means any property that is derived from or obtained through criminal conduct, whether directly or indirectly, or in whole or in part, and whether that criminal conduct occurs before, on or after the commencement of this Part.<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F7<br \/>\nSubstituted (30.07.2018) by Criminal Justice (Corruption Offences) Act 2018 (9\/2018), s. 26, S.I. No. 298 of 2018.<\/p>\n<h4>Money laundering occurring in State.<\/h4>\n<p>7.\u2014 (1) A person commits an offence if\u2014<\/p>\n<p>(a) the person engages in any of the following acts in relation to property that is the proceeds of criminal conduct:<\/p>\n<p>(i) concealing or disguising the true nature, source, location, disposition, movement or ownership of the property, or any rights relating to the property;<\/p>\n<p>(ii) converting, transferring, handling, acquiring, possessing or using the property;<\/p>\n<p>(iii) removing the property from, or bringing the property into, the State,<\/p>\n<p>and<\/p>\n<p>(b) the person knows or believes (or is reckless as to whether or not) the property is the proceeds of criminal conduct.<\/p>\n<p>(2) A person who attempts to commit an offence under subsection (1) commits an offence.<\/p>\n<p>(3) A person who commits an offence under this section is liable\u2014<\/p>\n<p>(a) on summary conviction, to a fine not exceeding \u20ac5,000 or imprisonment for a term not exceeding 12 months (or both), or<\/p>\n<p>(b) on conviction on indictment, to a fine or imprisonment for a term not exceeding 14 years (or both).<\/p>\n<p>(4) A reference in this section to knowing or believing that property is the proceeds of criminal conduct includes a reference to knowing or believing that the property probably comprises the proceeds of criminal conduct.<\/p>\n<p>(5) For the purposes of subsections (1) and (2), a person is reckless as to whether or not property is the proceeds of criminal conduct if the person disregards, in relation to property, a risk of such anature and degree that, considering the circumstances in which the person carries out any act referred to in subsection (1) or (2), the disregard of that risk involves culpability of a high degree.<\/p>\n<p>(6) For the purposes of subsections (1) and (2), a person handles property if the person\u2014<\/p>\n<p>(a) receives, or arranges to receive, the property, or<\/p>\n<p>(b) retains, removes, disposes of or realises the property, or arranges to do any of those things, for the benefit of another person.<\/p>\n<p>(7) A person does not commit an offence under this section in relation to the doing of any thing in relation to property that is the proceeds of criminal conduct so long as\u2014<\/p>\n<p>(a) the person does the thing in accordance with a direction, order or authorisation given under Part 3, or<\/p>\n<p>(b) without prejudice to the generality of paragraph (a), the person is a designated person, within the meaning of Part 4, who makes a report in relation to the property, and does the thing, in accordance with section 42.<\/p>\n<h4>Money laundering outside State in certain circumstances.<\/h4>\n<p>8.\u2014 (1) A person who, in a place outside the State, engages in conduct that would, if the conduct occurred in the State, constitute an offence under section 7 commits an offence if any of the following circumstances apply:<\/p>\n<p>(a) the conduct takes place on board an Irish ship, within the meaning of section 9 of the Mercantile Marine Act 1955,<\/p>\n<p>(b) the conduct takes place on an aircraft registered in the State,<\/p>\n<p>(c) the conduct constitutes an offence under the law of that place and the person is\u2014<\/p>\n<p>(i) an individual who is a citizen of Ireland or ordinarily resident in the State, or<\/p>\n<p>(ii) a body corporate established under the law of the State or a company registered under the Companies Acts,<\/p>\n<p>(d) a request for the person\u2019s surrender, for the purpose of trying him or her for an offence in respect of the conduct, has been made under Part II of the Extradition Act 1965 by any country and the request has been finally refused (whether or not as a result of a decision of a court), or<\/p>\n<p>(e) a F8[relevant arrest warrant] has been received from an issuing state for the purpose of bringing proceedings against the person for an offence in respect of the conduct, and a final determination has been made that\u2014<\/p>\n<p>(i) the F8[relevant arrest warrant] should not be endorsed for execution in the State under the European Arrest Warrant Act 2003, or<\/p>\n<p>(ii) the person should not be surrendered to the issuing state.<\/p>\n<p>(2) A person who commits an offence under this section is liable\u2014<\/p>\n<p>(a) on summary conviction, to a fine not exceeding \u20ac5,000 or imprisonment for a term not exceeding 12 months (or both), or<\/p>\n<p>(b) on conviction on indictment, to a fine or imprisonment for a term not exceeding 14 years (or both).<\/p>\n<p>(3) A person who has his or her principal residence in the State for the 12 months immediately preceding the commission of an offence under this section is, in a case where subsection (1)(c) applies, taken to be ordinarily resident in the State on the date of the commission of the offence.<\/p>\n<p>(4) In this section, \u201cF8[relevant arrest warrant]\u201d and \u201cissuing state\u201d have the same meanings as they have in the European Arrest Warrant Act 2003.<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F8<br \/>\nSubstituted by (30.03.2021) European Union (European Arrest Warrant Act 2003) (Amendment) Regulations 2021 (S.I. No. 150 of 2021), reg. 40(a), (b) in effect as per reg. 1(2).<\/p>\n<p>F9<br \/>\nSubstituted by Merchant Shipping (Registration of Ships) Act 2014 (43\/2014), s. 68 and sch. 4, not commenced as of date of revision.<\/p>\n<p>Modifications (not altering text):<\/p>\n<p>C5<br \/>\nProspective affecting provision: subs. (1)(a) amended by Merchant Shipping (Registration of Ships) Act 2014 (43\/2014), s. 68 and sch. 4, not commenced as of date of revision.<\/p>\n<p>Money laundering outside State in certain circumstances.<\/p>\n<p>8.\u2014 (1) A person who, in a place outside the State, engages in conduct that would, if the conduct occurred in the State, constitute an offence under section 7 commits an offence if any of the following circumstances apply:<\/p>\n<p>(a) the conduct takes place on board an Irish ship, within the meaning of F9[section 33 of the Merchant Shipping (Registration of Ships) Act 2014],<\/p>\n<p>&#8230;<\/p>\n<h4>Attempts, outside State, to commit offence in State.<\/h4>\n<p>9.\u2014 (1) A person who attempts, in a place outside the State, to commit an offence under section 7(1) is guilty of an offence.<\/p>\n<p>(2) A person who commits an offence under this section is liable\u2014<\/p>\n<p>(a) on summary conviction, to a fine not exceeding \u20ac5,000 or imprisonment for a term not exceeding 12 months (or both), or<\/p>\n<p>(b) on conviction on indictment, to a fine or imprisonment for a term not exceeding 14 years (or both).<\/p>\n<h4>Aiding, abetting, counselling or procuring outside State commission of offence in State.<\/h4>\n<p>10.\u2014 (1) A person who, in a place outside the State, aids, abets, counsels or procures the commission of an offence under section 7 is guilty of an offence.<\/p>\n<p>(2) A person who commits an offence under this section is liable\u2014<\/p>\n<p>(a) on summary conviction, to a fine not exceeding \u20ac5,000 or imprisonment for a term not exceeding 12 months (or both), or<\/p>\n<p>(b) on conviction on indictment, to a fine or imprisonment for a term not exceeding 14 years (or both).<\/p>\n<p>(3) This section is without prejudice to section 7(1) of the Criminal Law Act 1997.<\/p>\n<h4>Presumptions and other matters.<\/h4>\n<p>11.\u2014 (1) In this section \u201cspecified conduct\u201d means any of the following acts referred to in section 7(1) (including section 7(1) as applied by section 8 or 9 ):<\/p>\n<p>(a) concealing or disguising the true nature, source, location, disposition, movement or ownership of property, or any rights relating to property;<\/p>\n<p>(b) converting, transferring, handling, acquiring, possessing or using property;<\/p>\n<p>(c) removing property from, or bringing property into, the State or a place outside the State.<\/p>\n<p>(2) In proceedings for an offence under section 7, 8 or 9, where an accused has engaged, or attempted to engage, in specified conduct in relation to property that is the proceeds of criminal conduct, in circumstances in which it is reasonable to conclude that the accused\u2014<\/p>\n<p>(a) knew or believed the property was the proceeds of criminal conduct, or<\/p>\n<p>(b) was reckless as to whether or not the property was the proceeds of criminal conduct,<\/p>\n<p>the accused is presumed to have so known or believed, or been so reckless, unless the court or jury, as the case may be, is satisfied, having regard to the whole of the evidence, that there is a reasonable doubt that the accused so knew or believed or was so reckless.<\/p>\n<p>(3) In proceedings for an offence under section 7, 8 or 9, where an accused has engaged in, or attempted to engage in, specified conduct in relation to property in circumstances in which it is reasonable to conclude that the property is the proceeds of criminal conduct, those circumstances are evidence that the property is the proceeds of criminal conduct.<\/p>\n<p>(4) For the purposes of subsection (3), circumstances in which it is reasonable to conclude that property is the proceeds of criminal conduct include any of the following:<\/p>\n<p>(a) the value of the property concerned is, it is reasonable to conclude, out of proportion to the income and expenditure of the accused or another person in a case where the accused engaged in the specified conduct concerned on behalf of, or at the request of, the other person;<\/p>\n<p>(b) the specified conduct concerned involves the actual or purported purchase or sale of goods or services for an amount that is, it is reasonable to conclude, out of proportion to the market value of the goods or services (whether the amount represents an overvaluation or an undervaluation);<\/p>\n<p>(c) the specified conduct concerned involves one or more transactions using false names;<\/p>\n<p>(d) the accused has stated that he or she engaged in the specified conduct concerned on behalf of, or at the request of, another person and has not provided information to the Garda S\u00edoch\u00e1na enabling the other person to be identified and located;<\/p>\n<p>(e) where an accused has concealed or disguised the true nature, source, location, disposition, movement or ownership of the property, or any rights relating to the property, the accused has no reasonable explanation for that concealment or disguise.<\/p>\n<p>(5) Nothing in subsection (4) limits the circumstances in which it is reasonable to conclude, for the purposes of subsection (3), that property is the proceeds of criminal conduct.<\/p>\n<p>(6) Nothing in this section prevents subsections (2) and (3) being applied in the same proceedings.<\/p>\n<p>(7) Subsections (2) to (6) extend to proceedings for an offence under\u2014<\/p>\n<p>(a) section 10, or<\/p>\n<p>(b) section 7(1) of the Criminal Law Act 1997 of aiding, abetting, counselling or procuring the commission of an offence under section 7, 8 or 9,<\/p>\n<p>and for that purpose any reference to an accused in subsections (2) to (6) is to be construed as a reference to a person who committed, or is alleged to have committed, the offence concerned.<\/p>\n<p>(8) In proceedings for an offence under this Part, or an offence under section 7(1) of the Criminal Law Act 1997 referred to in subsection (7)(b), it is not necessary, in order to prove that property is the proceeds of criminal conduct, to establish that\u2014<\/p>\n<p>(a) a particular offence or a particular class of offence comprising criminal conduct was committed in relation to the property, or<\/p>\n<p>(b) a particular person committed an offence comprising criminal conduct in relation to the property.<\/p>\n<p>(9) In proceedings for an offence under this Part, or an offence under section 7(1) of the Criminal Law Act 1997 referred to in subsection (7)(b), it is not a defence for the accused to show that the accused believed the property concerned to be the proceeds of a particular offence comprising criminal conduct when in fact the property was the proceeds of another offence.<\/p>\n<h4>Location of proceedings relating to offences committed outside State.<\/h4>\n<p>12.\u2014 Proceedings for an offence under section 8, 9 or 10 may be taken in any place in the State and the offence may for all incidental purposes be treated as having been committed in that place.<\/p>\n<h4>Consent of DPP required for proceedings for offences committed outside State.<\/h4>\n<p>13.\u2014 If a person is charged with an offence under section 8, 9 or 10, no further proceedings in the matter (other than any remand in custody or on bail) may be taken except by, or with the consent of, the Director of Public Prosecutions.<\/p>\n<h4>Certificate may be evidence in proceedings under this Part.<\/h4>\n<p>14.\u2014 (1) In any proceedings for an offence under this Part in which it is alleged that property the subject of the offence is the proceeds of criminal conduct occurring in a place outside the State, a certificate\u2014<\/p>\n<p>(a) purporting to be signed by a lawyer practising in the place, and<\/p>\n<p>(b) stating that such conduct is an offence in that place,<\/p>\n<p>is evidence of the matters referred to in that certificate, unless the contrary is shown.<\/p>\n<p>(2) A certificate referred to in subsection (1) is taken to have been signed by the person purporting to have signed it, unless the contrary is shown.<\/p>\n<p>(3) In a case where a certificate referred to in subsection (1) is written in a language other than the Irish language or the English language, unless the contrary is shown\u2014<\/p>\n<p>(a) a document purporting to be a translation of that certificate into the Irish language or the English language, as the case may be, and that is certified as correct by a person appearing to be competent to so certify, is taken\u2014<\/p>\n<p>(i) to be a correct translation of the certificate, and<\/p>\n<p>(ii) to have been certified by the person purporting to have certified it,<\/p>\n<p>and<\/p>\n<p>(b) the person is taken to be competent to so certify.<\/p>\n<p>(4) In any proceedings for an offence under section 8 committed in the circumstances referred to in section 8(1)(c), a certificate purporting to be signed by an officer of the Department of Foreign Affairs and stating that\u2014<\/p>\n<p>(a) a passport was issued by that Department to a person on a specified date, and<\/p>\n<p>(b) to the best of the officer\u2019s knowledge and belief, the person has not ceased to be an Irish citizen,<\/p>\n<p>is evidence that the person was an Irish citizen on the date on which the offence is alleged to have been committed, and is taken to have been signed by the person purporting to have signed it, unless the contrary is shown.<\/p>\n<p>(5) In any proceedings for an offence under section 8 committed in the circumstances referred to in section 8 (1) (d) or (e), a certificate purporting to be signed by the Minister and stating any of the matters referred to in that paragraph is evidence of those matters, and is taken to have been signed by the Minister, unless the contrary is shown.<\/p>\n<h4>Double jeopardy.<\/h4>\n<p>15.\u2014 A person who has been acquitted or convicted of an offence in a place outside the State shall not be proceeded against for an offence under section 8, 9 or 10 consisting of the conduct, or substantially the same conduct, that constituted the offence of which the person has been acquitted or convicted.<\/p>\n<h4>Revenue offence committed outside State.<\/h4>\n<p>16.\u2014 For the avoidance of doubt, a reference in this Part to an offence under the law of a place outside the State includes a reference to an offence in connection with taxes, duties, customs or exchange regulation.<\/p>\n<p>PART 3<\/p>\n<p>Directions, Orders and Authorisations Relating to Investigations<\/p>\n<h4>Direction or order not to carry out service or transaction.<\/h4>\n<p>17.\u2014 (1) A member of the Garda S\u00edoch\u00e1na not below the rank of superintendent may, by notice in writing, direct a person not to carry out any specified service or transaction during the period specified in the direction, not exceeding 7 days, if the member is satisfied that, on the basis of information that the Garda S\u00edoch\u00e1na has obtained or received (whether or not in a report made under Chapter 4 of Part 4), such a direction is reasonably necessary to enable the Garda S\u00edoch\u00e1na to carry out preliminary investigations into whether or not there are reasonable grounds to suspect that the service or transaction would, if it were to proceed, comprise or assist in money laundering or terrorist financing.<\/p>\n<p>(2) A judge of the District Court may order a person not to carry out any specified service or transaction during the period specified in the order, not exceeding 28 days, if satisfied by information on oath of a member of the Garda S\u00edoch\u00e1na, that\u2014<\/p>\n<p>(a) there are reasonable grounds to suspect that the service or transaction would, if it were to proceed, comprise or assist in money laundering or terrorist financing, and<\/p>\n<p>(b) an investigation of a person for that money laundering or terrorist financing is taking place.<\/p>\n<p>(3) An order may be made, under subsection (2), in relation to a particular service or transaction, on more than one occasion.<\/p>\n<p>F10[(4) An application for an order under subsection (2)\u2014<\/p>\n<p>(a) shall be made ex parte and shall be heard otherwise than in public,<\/p>\n<p>and<\/p>\n<p>(b) shall be made to a judge of the District Court assigned to the district in which the order is proposed to be served.]<\/p>\n<p>(5) A person who fails to comply with a direction or order under this section commits an offence and is liable\u2014<\/p>\n<p>(a) on summary conviction, to a fine not exceeding \u20ac5,000 or imprisonment for a term not exceeding 12 months (or both), or<\/p>\n<p>(b) on conviction on indictment, to a fine or imprisonment for a term not exceeding 5 years (or both).<\/p>\n<p>(6) Any act or omission by a person in compliance with a direction or order under this section shall not be treated, for any purpose, as a breach of any requirement or restriction imposed by any other enactment or rule of law.<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F10<br \/>\nSubstituted (14.06.2013) by Criminal Justice Act 2013 (19\/2013), s. 3, S.I. No. 196 of 2013.<\/p>\n<h4>Notice of direction or order.<\/h4>\n<p>18.\u2014 (1) As soon as practicable after a direction is given or order is made under section 17, the member of the Garda S\u00edoch\u00e1na who gave the direction or applied for the order shall ensure that any person who the member is aware is affected by the direction or order is given notice, in writing, of the direction or order unless\u2014<\/p>\n<p>(a) it is not reasonably practicable to ascertain the whereabouts of the person, or<\/p>\n<p>(b) there are reasonable grounds for believing that disclosure to the person would prejudice the investigation in respect of which the direction or order is given.<\/p>\n<p>(2) Notwithstanding subsection (1)(b), a member of the Garda S\u00edoch\u00e1na shall give notice, in writing, of a direction or order under this section to any person who is, or appears to be, affected by it as soon as practicable after the Garda S\u00edoch\u00e1na becomes aware that the person is aware that the direction has been given or order has been made.<\/p>\n<p>(3) Nothing in subsection (1) or (2) requires notice to be given to a person to whom a direction is given or order is addressed under this section.<\/p>\n<p>(4) A notice given under this section shall include the reasons for the direction or order concerned and advise the person to whom the notice is given of the person\u2019s right to make an application under section 19 or 20 .<\/p>\n<p>(5) The reasons given in the notice need not include details the disclosure of which there are reasonable grounds for believing would prejudice the investigation in respect of which the direction is given or order is made.<\/p>\n<h4>Revocation of direction or order on application.<\/h4>\n<p>19.\u2014 (1) At any time while a direction or order is in force under section 17, a judge of the District Court may revoke the direction or order if the judge is satisfied, on the application of a person affected by the direction or order, as the case may be, that the matters referred to in section 17(1) or (2) do not, or no longer, apply.<\/p>\n<p>(2) Such an application may be made only if notice has been given to the Garda S\u00edoch\u00e1na in accordance with any applicable rules of court.<\/p>\n<h4>Order in relation to property subject of direction or order.<\/h4>\n<p>20.\u2014 (1) At any time while a direction or order is in force under section 17, in relation to property, a judge of the District Court may, on application by any person affected by the direction or order concerned, as the case may be, make any order that the judge considers appropriate in relation to any of the property concerned if satisfied that it is necessary to do so for the purpose of enabling the person\u2014<\/p>\n<p>(a) to discharge the reasonable living and other necessary expenses, including legal expenses in or in relation to legal proceedings, incurred or to be incurred in respect of the person or the person\u2019s dependants, or<\/p>\n<p>(b) to carry on a business, trade, profession or other occupation to which any of the property relates.<\/p>\n<p>(2) Such an application may be made only if notice has been given to the Garda S\u00edoch\u00e1na in accordance with any applicable rules of court.<\/p>\n<h4>Cessation of direction or order on cessation of investigation.<\/h4>\n<p>21.\u2014 (1) A direction or order under section 17 ceases to have effect on the cessation of an investigation into whether the service or transaction the subject of the direction or order would, if it were to proceed, comprise or assist in money laundering or terrorist financing.<\/p>\n<p>(2) As soon as practicable after a direction or order under section 17 ceases, as a result of subsection (1), to have effect, a member of the Garda S\u00edoch\u00e1na shall give notice in writing of the fact that the direction or order has ceased to have effect to\u2014<\/p>\n<p>(a) the person to whom the direction or order has been given, and<\/p>\n<p>(b) any other person who the member is aware is affected by the direction or order.<\/p>\n<h4>Suspicious transaction report not to be disclosed.<\/h4>\n<p>22.\u2014 A report made under Chapter 4 of Part 4 shall not be disclosed, in the course of proceedings under section 17 or 19, to any person other than the judge of the District Court concerned.<\/p>\n<h4>Authorisation to proceed with act that would otherwise comprise money laundering.<\/h4>\n<p>23.\u2014 (1) A member of the Garda S\u00edoch\u00e1na not below the rank of superintendent may, by notice in writing, authorise a person to do a thing referred to in section 7(1) if the member is satisfied that the thing is necessary for the purposes of an investigation into an offence.<\/p>\n<p>(2) The doing of any thing in accordance with an authorisation under this section shall not be treated, for any purpose, as a breach of any requirement or restriction imposed by any other enactment or rule of law.<\/p>\n<p>(3) Subsection (2) is without prejudice to section 7 (7).<\/p>\n<p>PART 4<\/p>\n<h4>Provisions Relating to Finance Services Industry, Professional Service Providers and Others<\/h4>\n<p>Chapter 1<\/p>\n<h4>Interpretation (Part 4)<\/h4>\n<p>Annotations<\/p>\n<p>Editorial Notes:<\/p>\n<p>E12<br \/>\nPart included in definition of \u201cdesignated enactments\u201d for purposes of Central Bank Act 1942 (22\/1942) by Central Bank Act 1942 (22\/1942), s. 2(1) and sch. 2 part 1 item 37, as substituted (1.10.2010) by Central Bank Reform Act 2010 (23\/2010), s. 14(1) and sch. part 1 items 6 and 82, S.I. No. 469 of 2010.<\/p>\n<h4>Definitions.<\/h4>\n<p>24.\u2014 (1) In this Part\u2014<\/p>\n<p>F11[&#8220;Article 3(2) authorities&#8221; means the authorities designated under Regulation 3(2) of the European Union (Money Laundering and Terrorist Financing) (Use of Financial and Other Information) Regulations 2023;]<\/p>\n<p>\u201cbarrister\u201d means a practising barrister;<\/p>\n<p>\u201cbeneficial owner\u201d has the meaning assigned to it by sections 26 to 30 ;<\/p>\n<p>\u201cbusiness relationship\u201d, in relation to a designated person and a customer of the person, means a business, professional or commercial relationship between the person and the customer that the person expects to be ongoing;<\/p>\n<p>F12[&#8220;business risk assessment&#8221; has the meaning given to it by section 30A;]<\/p>\n<p>F13[&#8220;Capital Requirements Regulation&#8221; means Regulation (EU) No 575\/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648\/2012 as amended by\u2014<\/p>\n<p>(a) Commission Delegated Regulation (EU) 2015\/62 of 10 October 201454 amending Regulation (EU) No 575\/2013 of the European Parliament and of the Council with regard to the leverage ratio,<\/p>\n<p>(b) Regulation (EU) 2016\/1014 of the European Parliament and of the Council of 8 June 201655 amending Regulation (EU) No 575\/2013 as regards exemptions for commodity dealers,<\/p>\n<p>(c) Commission Delegated Regulation (EU) 2017\/2188 of 11 August 201756 amending Regulation (EU) No 575\/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,<\/p>\n<p>(d) Regulation (EU) 2017\/2395 of the European Parliament and of the Council of 12 December 201757 amending Regulation (EU) No 575\/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,<\/p>\n<p>(e) Regulation (EU) 2017\/2401 of the European Parliament and of the Council of 12 December 201758 amending Regulation (EU) No 575\/2013 on prudential requirements for credit institutions and investment firms,<\/p>\n<p>(f) Commission Delegated Regulation (EU) 2018\/405 of 21 November 201759 correcting certain language versions of Regulation (EU) No 575\/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648\/2012,<\/p>\n<p>(g) Regulation (EU) 2019\/630 of the European Parliament and of the Council of 17 April 201960 amending Regulation (EU) No 575\/2013 as regards minimum loss coverage for non-performing exposures,<\/p>\n<p>(h) Regulation (EU) 2019\/876 of the European Parliament and of the Council of 20 May 201961 amending Regulation (EU) No 575\/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648\/2012,<\/p>\n<p>(i) Regulation (EU) 2019\/2033 of the European Parliament and of the Council of 27 November 201962 on the prudential requirements of investment firms and amending Regulations (EU) No 1093\/2010, (EU) No 575\/2013, (EU) No 600\/2014 and (EU) No 806\/2014, and<\/p>\n<p>(j) Regulation (EU) 2020\/873 of the European Parliament and of the Council of 24 June 202063 amending Regulations (EU) No 575\/2013 and (EU) 2019\/876 as regards certain adjustments in response to the COVID-19 pandemic;]<\/p>\n<p>F12[&#8220;collective investment undertaking&#8221; means\u2014<\/p>\n<p>(a) an undertaking for collective investment in transferable securities authorised in accordance with the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 (S.I. No. 352 of 2011) or otherwise in accordance with the Directive of 2009,<\/p>\n<p>(b) an alternative investment fund within the meaning of the European Union (Alternative Investment Fund Managers) Regulations 2013 (S.I. No. 257 of 2013),<\/p>\n<p>(c) a management company authorised in accordance with the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 or otherwise in accordance with the Directive of 2009, or<\/p>\n<p>(d) an alternative investment fund manager within the meaning of the European Union (Alternative Investment Fund Managers) Regulations 2013;]<\/p>\n<p>\u201ccompetent authority\u201d has the meaning assigned to it by sections 60 and 61;<\/p>\n<p>F14[&#8220;correspondent relationship&#8221; means\u2014<\/p>\n<p>(a) the provision of banking services by one bank as the correspondent to another bank as the respondent, including providing a current or other liability account and related services, such as cash management, international funds transfers, cheque clearing, payable-through accounts and foreign exchange services, or<\/p>\n<p>(b) the relationships between and among credit institutions and financial institutions including where similar services are provided by a correspondent institution to a respondent institution, and including relationships established for securities transactions or funds transfers;]<\/p>\n<p>\u201ccredit institution\u201d means\u2014<\/p>\n<p>F15[(a) a credit institution within the meaning of point (1) of Article 4(1) of the Capital Requirements Regulation, or]<\/p>\n<p>(b) An Post in respect of any activity that it carries out, whether as principal or agent, that would render it, or a principal for whom it is an agent, a credit institution as a result of the application of paragraph (a);<\/p>\n<p>F16[&#8220;custodian wallet provider&#8221; means an entity that provides services to safeguard private cryptographic keys on behalf of its customers, to hold, store and transfer virtual currencies;]<\/p>\n<p>\u201ccustomer\u201d\u2014<\/p>\n<p>(a) in relation to an auditor, means\u2014<\/p>\n<p>(i) a body corporate to which the auditor has been appointed as an auditor, or<\/p>\n<p>(ii) in the case of an auditor appointed to audit the accounts of an unincorporated body of persons or of an individual, the unincorporated body or the individual,<\/p>\n<p>(b) in relation to a relevant independent legal professional, includes, in the case of the provision of services by a barrister, a person who is a client of a solicitor seeking advice from the barrister for or on behalf of the client and does not, in that case, include the solicitor, or<\/p>\n<p>(c) in relation to a trust or company service provider, means a person with whom the trust or company service provider has an arrangement to provide services as such a service provider;<\/p>\n<p>\u201cDepartment\u201d means the Department of Justice, Equality and Law Reform;<\/p>\n<p>\u201cdesignated accountancy body\u201d means a prescribed accountancy body, within the meaning of Part 2 of the Companies (Auditing and Accounting) Act 2003;<\/p>\n<p>\u201cdesignated person\u201d has the meaning assigned to it by section 25;<\/p>\n<p>F11[&#8220;Directive (EU) 2019\/1153&#8221; means Directive (EU) 2019\/1153 of the European Parliament and of the Council of 20 June 20191 laying down rules facilitating the use of financial and other information for the prevention, detection, investigation or prosecution of certain criminal offences, and repealing Council Decision 2000\/642\/JHA;]<\/p>\n<p>F17[F18[&#8220;Directive of 2009&#8221; means Directive 2009\/65\/EC of the European Parliament and of the Council of 13 July 200912 , as amended by\u2014<\/p>\n<p>(a) Directive 2010\/78\/EU of the European Parliament and of the Council of 24 November 201013,<\/p>\n<p>(b) Directive 2011\/61\/EU of the European Parliament and of the Council of 8 June 201114,<\/p>\n<p>(c) Directive 2013\/14\/EU of the European Parliament and of the Council of 21 May 201315,<\/p>\n<p>(d) Directive 2014\/91\/EU of the European Parliament and of the Council of 23 July 201416,<\/p>\n<p>(e) Regulation (EU) 2017\/2402 of the European Parliament and of the Council of 12 December 201717,<\/p>\n<p>(f) Directive (EU) 2019\/1160 of the European Parliament and of the Council of 20 June 201918,<\/p>\n<p>(g) Directive (EU) 2019\/2034 of the European Parliament and of the Council of 20 June 201919 , and<\/p>\n<p>(h) Directive (EU) 2019\/2162 of the European Parliament and of the Council of 27 November 201920;]]<\/p>\n<p>\u201cEEA State\u201d means a state that is a Contracting Party to the Agreement on the European Economic Area signed at Oporto on 2 May 1992, as adjusted by the Protocol signed at Brussels on 17 March 1993;<\/p>\n<p>F16[&#8220;Electronic Identification Regulation&#8221; means Regulation (EU) No. 910\/2014 of the European Parliament and of the Council of 23 July 20142 on electronic identification and trust services for electronic transactions in the internal market and repealing Directive 1999\/93\/EC;]<\/p>\n<p>F17[&#8220;electronic money&#8221; means electronic money within the meaning of the European Communities (Electronic Money) Regulations 2011 (S.I. No. 183 of 2011);]<\/p>\n<p>F19[\u2026]<\/p>\n<p>F11[&#8220;Europol&#8221; means the body established under Article 1(1) of Regulation (EU) 2016\/794;]<\/p>\n<p>\u201cexternal accountant\u201d means a person who by way of business provides accountancy services (other than when providing such services to the employer of the person) whether or not the person holds accountancy qualifications or is a member of a designated accountancy body;<\/p>\n<p>F20[&#8220;financial institution&#8221; means\u2014<\/p>\n<p>(a) an undertaking that carries out one or more of the activities set out at reference numbers 2 to 12, 14 and 15 of the Schedule to the European Union (Capital Requirements) Regulations 2014 (S.I. No. 158 of 2014) or foreign exchange services, but does not include an undertaking\u2014<\/p>\n<p>(i) that does not carry out any of the activities set out at those reference numbers other than one or more of the activities set out at reference number 7, and<\/p>\n<p>(ii) whose only customers (if any) are members of the same group as the undertaking,<\/p>\n<p>(b) an insurance undertaking within the meaning of Regulation 3 of the European Union (Insurance and Reinsurance) Regulations 2015 (S.I. No. 485 of 2015), in so far as it carries out life assurance activities,<\/p>\n<p>(c) a person, other than a person falling within Regulation 4(1) of the European Union (Markets in Financial Instruments) Regulations 2017 (S.I. No. 375 of 2017), whose regular occupation or business is\u2014<\/p>\n<p>(i) the provision to other persons, or the performance, of investment services and activities within the meaning of those Regulations, or<\/p>\n<p>(ii) bidding directly in auctions in accordance with Commission Regulation (EU) No 1031\/2010 of 12 November 20105 on the timing, administration and other aspects of auctioning of greenhouse gas emission allowances pursuant to Directive 2003\/87\/EC of the European Parliament and of the Council establishing a scheme for greenhouse gas emission allowances trading within the Community on behalf of its clients,<\/p>\n<p>(d) an investment business firm within the meaning of the Investment Intermediaries Act 1995 (other than a non-life insurance intermediary within the meaning of that Act),<\/p>\n<p>(e) a collective investment undertaking that markets or otherwise offers its units or shares,<\/p>\n<p>(f) an insurance intermediary within the meaning of the Insurance Mediation Directive (other than a tied insurance intermediary within the meaning of that Directive) that provides life assurance or other investment-related services, or<\/p>\n<p>(g) An Post, in respect of any activity it carries out, whether as principal or agent\u2014<\/p>\n<p>(i) that would render it, or a principal for whom it is an agent, a financial institution as a result of the application of any of the foregoing paragraphs,<\/p>\n<p>(ii) that is set out at reference number 1 in the Schedule to the European Union (Capital Requirements) Regulations 2014, or<\/p>\n<p>(iii) that would render it, or a principal for whom it is an agent, an investment business firm within the meaning of the Investment Intermediaries Act 1995 (other than a non-life insurance intermediary within the meaning of that Act) F21[if section 2(6) of that Act did not apply,]]<\/p>\n<p>F16[(h) a virtual asset service provider;]<\/p>\n<p>F11[&#8220;FIU Ireland&#8221; has the meaning assigned to it by section 40A(2);]<\/p>\n<p>F20[&#8220;group&#8221; means a group of undertakings which consists of a parent undertaking, its subsidiaries, and the entities in which the parent undertaking or its subsidiaries hold a participation, as well as undertakings linked to each other by a relationship within the meaning of Article 22 of Directive 2013\/34\/EU of the European Parliament and of the Council of 26 June 20136 on the annual financial statements and related reports of certain types of undertakings, amending Directive 2006\/43\/EC of the European Parliament and of the Council and repealing Council Directives 78\/660\/EEC and 83\/349\/EEC;]<\/p>\n<p>F17[&#8220;high-risk third country&#8221; means a jurisdiction identified by the European Commission in accordance with Article 9 of the Fourth Money Laundering Directive;]<\/p>\n<p>\u201cInsurance Mediation Directive\u201d means Directive 2002\/92\/EC of the European Parliament and of the Council of 9 December 2002 on insurance mediation 7;<\/p>\n<p>F19[\u2026]<\/p>\n<p>\u201cMarkets in Financial Instruments Directive\u201d means Directive 2004\/39\/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments amending Council Directives 85\/611\/EEC and 93\/6\/EEC and Directive 2000\/12\/EC of the European Parliament and of the Council and repealing Council Directive 93\/22\/EEC 9;<\/p>\n<p>\u201cmember\u201d, in relation to a designated accountancy body, means a member, within the meaning of Part 2 of the Companies (Auditing and Accounting) Act 2003, of a designated accountancy body;<\/p>\n<p>\u201cmember\u201d, in relation to the Irish Taxation Institute, means a person who is subject to the professional and ethical standards of the Institute, including its investigation and disciplinary procedures, but does not include a person who is admitted to its membership as a student;<\/p>\n<p>F17[&#8220;monitoring&#8221;, in relation to a business relationship between a designated person and a customer, means the designated person, on an ongoing basis\u2014<\/p>\n<p>(a) scrutinising transactions, and the source of wealth or of funds for those transactions, undertaken during the relationship in order to determine if the transactions are consistent with the designated person\u2019s knowledge of\u2014<\/p>\n<p>(i) the customer,<\/p>\n<p>(ii) the customer\u2019s business and pattern of transactions, and<\/p>\n<p>(iii) the customer\u2019s risk profile (as determined under section 30B),<\/p>\n<p>and<\/p>\n<p>(b) ensuring that documents, data and information on customers are kept up to date in accordance with its internal policies, controls and procedures adopted in accordance with section 54;]<\/p>\n<p>F17[&#8220;national risk assessment&#8221; means the assessment carried out by the State in accordance with paragraph 1 of Article 7 of the Fourth Money Laundering Directive;]<\/p>\n<p>F22[&#8220;occasional transaction&#8221; means, in relation to a customer of a designated person where the designated person does not have a business relationship with the customer, a single transaction, or a series of transactions that are or appear to be linked to each other, and\u2014<\/p>\n<p>(a) in a case where the designated person concerned is a person referred to in section 25(1)(h), that the amount of money or the monetary value concerned\u2014<\/p>\n<p>(i) paid to the designated person by the customer, or<\/p>\n<p>(ii) paid to the customer by the designated person,<\/p>\n<p>is in aggregate not less than \u20ac2,000,<\/p>\n<p>F23[(b) in a case where the transaction concerned consists of a transfer of funds (within the meaning of Regulation (EU) No. 2015\/847 of the European Parliament and of the Council of 20 May 20157) that the amount of money to be transferred is in aggregate not less than \u20ac1,000,]<\/p>\n<p>F24[(bb) in a case where the designated person concerned is a person referred to in section 25(1)(i), that the amount concerned\u2014<\/p>\n<p>(i) paid to the designated person by the customer, or<\/p>\n<p>(ii) paid to the customer by the designated person,<\/p>\n<p>is in aggregate not less than \u20ac10,000, and]<\/p>\n<p>(c) in a case other than one referred to in paragraphs F23[(a), (b) or (bb)], that the amount or aggregate of amounts concerned is not less than \u20ac15,000;]<\/p>\n<p>\u201cpayment service\u201d has the same meaning as in the Payment Services Directive;<\/p>\n<p>\u201cPayment Services Directive\u201d means Directive 2007\/64\/EC of the European Parliament and of the Council of 13 November 2007 on payment services in the internal market amending Directives 97\/7\/EC, 2002\/65\/EC, 2005\/60\/EC and 2006\/48\/EC and repealing Directive 97\/5\/EC 10;<\/p>\n<p>\u201cprofessional service provider\u201d means an auditor, external accountant, tax adviser, relevant independent legal professional or trust or company service provider;<\/p>\n<p>F21[&#8220;property service provider&#8221; means a person who provides a property service within the meaning of the Property Services (Regulation) Act 2011;]<\/p>\n<p>(a) the auction of property other than land;<\/p>\n<p>(b) the purchase or sale, by whatever means, of land;<\/p>\n<p>but does not include a service provided by a local authority in the course of the performance of its statutory functions under any statutory provision;<\/p>\n<p>F20[&#8220;public body&#8221; means an FOI body within the meaning of the Freedom of Information Act 2014;]<\/p>\n<p>F19[\u2026]<\/p>\n<p>F20[&#8220;regulated market&#8221; means\u2014<\/p>\n<p>(a) a regulated market with the meaning of point (21) of Article 4(1) of Directive 2014\/65\/EU of the European Parliament and of the Council of 15 May 20148 on markets in financial instruments and amending Directive 2002\/92\/EC and Directive 2011\/61\/EU, located within the EEA, or<\/p>\n<p>(b) a regulated market that subjects companies whose securities are admitted to trading to disclosure obligations which are equivalent to the following:<\/p>\n<p>(i) disclosure obligations set out in Articles 17 and 19 of Regulation (EU) No. 596\/2014 of the European Parliament and of the Council of 16 April 20149 on market abuse (market abuse regulation) and repealing Directive 2003\/6\/EC of the European Parliament and of the Council and Commission Directives 2003\/124\/EC, 2003\/125\/EC and 2004\/72\/EC,<\/p>\n<p>(ii) disclosure obligations consistent with Articles 3, 5, 7, 8, 10, 14 and 16 of Directive 2003\/71\/EC of the European Parliament and of the Council of 4 November 200310 on the prospectuses to be published when securities are offered to the public or admitted to trading and amending Directive 2001\/34\/EC,<\/p>\n<p>(iii) disclosure obligations consistent with Articles 4 to 6, 14, 16 to 19 and 30 of Directive 2004\/109\/EC of the European Parliament and of the Council of 15 December 200411 on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market and amending Directive 2001\/34\/EC, and<\/p>\n<p>(iv) disclosure requirements consistent with EU legislation made under the provisions mentioned in subparagraphs (i) to (iii);]<\/p>\n<p>F11[&#8220;Regulation (EU) 2016\/794&#8221; means Regulation (EU) 2016\/794 of the European Parliament and of the Council of 11 May 20162 on the European Union Agency for Law Enforcement Cooperation (Europol) and replacing and repealing Council Decisions 2009\/371\/JHA, 2009\/934\/JHA, 2009\/935\/JHA, 2009\/936\/JHA and 2009\/968\/JHA;]<\/p>\n<p>\u201crelevant independent legal professional\u201d means a barrister, solicitor or notary who carries out any of the following services:<\/p>\n<p>(a) the provision of assistance in the planning or execution of transactions for clients concerning any of the following:<\/p>\n<p>(i) buying or selling land or business entities;<\/p>\n<p>(ii) managing the money, securities or other assets of clients;<\/p>\n<p>(iii) opening or managing bank, savings or securities accounts;<\/p>\n<p>(iv) organising contributions necessary for the creation, operation or management of companies;<\/p>\n<p>(v) creating, operating or managing trusts, companies or similar structures or arrangements;<\/p>\n<p>(b) acting for or on behalf of clients in financial transactions or transactions relating to land;<\/p>\n<p>\u201crelevant professional adviser\u201d means an accountant, auditor or tax adviser who is a member of a designated accountancy body or of the Irish Taxation Institute;<\/p>\n<p>F17[&#8220;senior management&#8221; means an officer or employee with sufficient knowledge of the institution\u2019s money laundering and terrorist financing risk exposure and sufficient seniority to take decisions affecting its risk exposure, and need not, in all cases, be a member of the board of directors;]<\/p>\n<p>\u201csolicitor\u201d means a practising solicitor;<\/p>\n<p>\u201cState competent authority\u201d has the meaning assigned to it by section 62;<\/p>\n<p>\u201ctax adviser\u201d means a person who by way of business provides advice about the tax affairs of other persons;<\/p>\n<p>\u201ctransaction\u201d means\u2014<\/p>\n<p>(a) in relation to a professional service provider, any transaction that is carried out in connection with a customer of the provider and that is\u2014<\/p>\n<p>(i) in the case of a provider acting as an auditor, the subject of an audit carried out by the provider in respect of the accounts of the customer,<\/p>\n<p>(ii) in the case of a provider acting as an external accountant or tax adviser, or as a trust or company service provider, the subject of a service carried out by the provider for the customer, or<\/p>\n<p>(iii) in the case of a provider acting as a relevant independent legal professional, the subject of a service carried out by the professional for the customer of a kind referred to in paragraph (a) or (b) of the definition of \u201crelevant independent legal professional\u201d in this subsection;<\/p>\n<p>and<\/p>\n<p>(b) in relation to a casino or private members\u2019 club, a transaction, such as the purchase or exchange of tokens or chips, or the placing of a bet, carried out in connection with gambling activities carried out on the premises of the casino or club by a customer of the casino or club;<\/p>\n<p>F17[&#8220;transferable securities&#8221; means transferable securities within the meaning of the European Union (Markets in Financial Instruments) Regulations 2017;]<\/p>\n<p>\u201ctrust or company service provider\u201d means any person whose business it is to provide any of the following services:<\/p>\n<p>(a) forming companies or other bodies corporate;<\/p>\n<p>(b) acting as a director or secretary of a company under an arrangement with a person other than the company;<\/p>\n<p>(c) arranging for another person to act as a director or secretary of a company;<\/p>\n<p>(d) acting, or arranging for a person to act, as a partner of a partnership;<\/p>\n<p>(e) providing a registered office, business address, correspondence or administrative address or other related services for a body corporate or partnership;<\/p>\n<p>(f) acting, or arranging for another person to act, as a trustee of a trust;<\/p>\n<p>(g) acting, or arranging for another person to act, as a nominee shareholder for a person other than a company whose securities are listed on a regulated market.<\/p>\n<p>F16[&#8220;virtual asset&#8221; means a digital representation of value that can be digitally traded or transferred and can be used for payment or investment purposes but does not include digital representations of fiat currencies, securities or other financial assets;<\/p>\n<p>&#8220;virtual asset service provider&#8221; means a person who by way of business carries out one or more of the following activities for, or on behalf of, another person:<\/p>\n<p>(a) exchange between virtual assets and fiat currencies;<\/p>\n<p>(b) exchange between one or more forms of virtual assets;<\/p>\n<p>(c) transfer of virtual assets, that is to say, conduct a transaction on behalf of another person that moves a virtual asset from one virtual asset address or account to another;<\/p>\n<p>(d) custodian wallet provider;<\/p>\n<p>(e) participation in, and provision of, financial services related to an issuer\u2019s offer or sale of a virtual asset or both;<\/p>\n<p>but does not include a designated person that is not a financial or credit institution and that provides virtual asset services in an incidental manner and is subject to supervision by a national competent authority, other than the Bank;]<\/p>\n<p>(2) The Minister may prescribe a regulated financial market for the purposes of the definition of \u201cregulated market\u201d in subsection (1) only if the Minister is satisfied that the market is in a place other than an EEA State that imposes, on companies whose securities are admitted to trading on the market, disclosure requirements consistent with legislation of the European Communities.<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F11<br \/>\nInserted (2.02.2023) by European Union (Money Laundering and Terrorist Financing) (Use of Financial and Other Information) Regulations 2023 (S.I. No. 22 of 2023), reg. 8.<\/p>\n<p>F12<br \/>\nInserted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 4(a), S.I. No. 486 of 2018.<\/p>\n<p>F13<br \/>\nSubstituted (28.12.2020) by European Union (Capital Requirements) (No. 2) (Amendment) Regulations 2020 (S.I. No. 711 of 2020), reg. 8, in effect as per reg. 1(2).<\/p>\n<p>F14<br \/>\nInserted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 3(b), S.I. No. 486 of 2018.<\/p>\n<p>F15<br \/>\nSubstituted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 4(c), S.I. No. 486 of 2018.<\/p>\n<p>F16<br \/>\nInserted (23.04.2021) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021 (3\/2021), s. 4(a)(ii), (c), S.I. No. 188 of 2021.<\/p>\n<p>F17<br \/>\nInserted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 4(d), (e), (i), (k), (p), (q), S.I. No. 486 of 2018.<\/p>\n<p>F18<br \/>\nInserted (21.09.2021) by European Union (Investment Firms) Regulations 2021 (S.I. No. 355 of 2021), s. 54, commenced on enactment.<\/p>\n<p>F19<br \/>\nDeleted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 4(f), (j), (n), S.I. No. 486 of 2018.<\/p>\n<p>F20<br \/>\nSubstituted Deleted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 4(g), (h), (m), (o), S.I. No. 486 of 2018.<\/p>\n<p>F21<br \/>\nSubstituted (23.04.2021) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021 (3\/2021), s. 4(a)(i), (b), S.I. No. 188 of 2021.<\/p>\n<p>F22<br \/>\nSubstituted (14.06.2013) by Criminal Justice Act 2013 (19\/2013), s. 4, S. I. No. 196 of 2013.<\/p>\n<p>F23<br \/>\nSubstituted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 4(l)(i), (iii), S.I. No. 486 of 2018.<\/p>\n<p>F24<br \/>\nInserted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 4(l)(ii), S.I. No. 486 of 2018.<\/p>\n<p>Modifications (not altering text):<\/p>\n<p>C6<br \/>\nReferences construed (31.03.2014) by European Union (Capital Requirements) Regulations 2014 (S.I. No. 158 of 2014), reg. 160.<\/p>\n<p>References to repealed Directives<\/p>\n<p>160. A reference in any enactment to a Directive repealed by the Capital Requirements Directive shall be construed in accordance with Article 163 of the second-mentioned Directive.<\/p>\n<p>C7<br \/>\nDefinition of \u201coccasional transaction\u201d modified (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (Section 25) (Prescribed Class of Designated Person) Regulations 2018 (S.I. No. 487 of 2018), reg. 4, in effect as per reg. 1(2).<\/p>\n<p>3. (1) Providers of gambling services are prescribed as a class of persons for the purposes of section 25(1)(j) of the Act of 2010.<\/p>\n<p>(2) In this Regulation, \u201cgambling services\u201d means gambling services within the meaning of Directive (EU) 2015\/849 of the European Parliament and of the Council of 20 May 20151 other than\u2014<\/p>\n<p>(a) poker games provided at a physical location other than a casino or private members\u2019 club,<\/p>\n<p>(b) lotteries within the meaning of the Gaming and Lotteries Act 1956 (No. 2 of 1956), and<\/p>\n<p>(c) gaming machines (within the meaning of section 43 of the Finance Act 1975 (No. 6 of 1975)) or amusement machines (within the meaning of section 120 of the Finance Act 1992 (No. 9 of 1992)) provided in accordance with section 14 of the Gaming and Lotteries Act 1956 .<\/p>\n<p>4. Insofar as a person is a designated person by virtue of being a member of the class of persons prescribed in Regulation 3, the definition of \u201coccasional transaction\u201d in section 24 of the Act of 2010 shall be modified so that the reference in paragraph (a) of that definition to \u201ca person referred to in section 25(1)(h)\u201d be read as a reference to a member of the class of persons prescribed in Regulation 3.<\/p>\n<p>C8<br \/>\nReferences construed (31.03.2014) by European Union (Capital Requirements) Regulations 2014 (S.I. No. 158 of 2014), reg. 160.<\/p>\n<p>References to repealed Directives<\/p>\n<p>160. A reference in any enactment to a Directive repealed by the Capital Requirements Directive shall be construed in accordance with Article 163 of the second-mentioned Directive.<\/p>\n<p>Editorial Notes:<\/p>\n<p>E13<br \/>\nPrevious affecting provision: definition of Capital Requirements Regulation inserted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 4(a), S.I. No. 486 of 2018; substituted as per F-note above.<\/p>\n<p>1 OJ No. L 186, 11.7.2019, p. 122.<\/p>\n<p>10 OJ L 319, 5.12.2007, p.1<\/p>\n<p>11 OJ No. L 390, 31.12.2004, p. 38<\/p>\n<p>2 OJ No. L 257, 28.8.2014, p. 73<\/p>\n<p>5 OJ No. L 302, 18.11.2010, p. 1<\/p>\n<p>54 OJ No. L. 11, 17.1.2015, p. 37.<\/p>\n<p>55 OJ No. L. 171, 29.6.2016, p. 153.<\/p>\n<p>56 OJ No. L. 310, 25.11.2017, p. 1.<\/p>\n<p>57 OJ No. L. 345, 27.12.2017, p. 27.<\/p>\n<p>58 OJ No. L. 347, 28.12.2017, p. 1.<\/p>\n<p>59 OJ No. L. 74, 16.3.2018, p. 3.<\/p>\n<p>6 OJ No. L 182, 29.6.2013, p. 19<\/p>\n<p>60 OJ No. L. 111, 25.4.2019, p. 4.<\/p>\n<p>61 OJ No. L. 150, 7.6.2019, p. 1.<\/p>\n<p>62 OJ No. L. 314, 5.12.2019, p. 1.<\/p>\n<p>63 OJ. No. L. 204, 26.6.2020, p. 4.<\/p>\n<p>7 OJ L 9, 15.1.2003, p. 3<\/p>\n<p>8 OJ No. L 173, 12.6.2014, p. 349<\/p>\n<p>9 OJ L 145, 30.4.2004, p. 1<\/p>\n<h4>Meaning of \u201cdesignated person\u201d.<\/h4>\n<p>25.\u2014 (1) In this Part, \u201cdesignated person\u201d means any person, acting in the State in the course of business carried on by the person in the State, who or that is\u2014<\/p>\n<p>(a) a credit institution, except as provided by subsection (4),<\/p>\n<p>(b) a financial institution, except as provided by subsection (4),<\/p>\n<p>(c) an auditor, external accountant F25[, tax adviser or any other person whose principal business or professional activity is to provide, directly or by means of other persons to which that other person is related, material aid, assistance or advice on tax matters],<\/p>\n<p>F26[(d) subject to subsection (1A), a relevant independent legal professional,]<\/p>\n<p>(e) a trust or company service provider,<\/p>\n<p>F25[(f) a property service provider including a property service provider acting as an intermediary in the letting of immovable property, but only in respect of transactions for which the monthly rent amounts to a total of at least \u20ac10,000,]<\/p>\n<p>(g) a casino,<\/p>\n<p>(h) a person who effectively directs a private members\u2019 club at which gambling activities are carried on, but only in respect of those gambling activities,<\/p>\n<p>(i) any person trading in goods, but only in respect of transactions involving payments, to the person F27[or by the person] in cash, of a total of at least F26[\u20ac10,000] (whether in one transaction or in a series of transactions that are or appear to be linked to each other), F28[\u2026]<\/p>\n<p>F29[(ia) a virtual asset service provider,<\/p>\n<p>(ib) a person trading or acting as an intermediary in the trade of works of art (including when carried out by an art gallery or an auction house) but only in respect of transactions of a total value of at least \u20ac10,000 (whether in one transaction or in a series of transactions that are or appear to be linked to each other),<\/p>\n<p>(ic) a person storing, trading or acting as an intermediary in the trade of works of art when this is carried out in a free port but only in respect of transactions of a total value of at least \u20ac10,000 (whether in one transaction or as a series of transactions that are or appear to be linked to each other), or]<\/p>\n<p>(j) any other person of a prescribed class.<\/p>\n<p>F27[(1A) A relevant independent legal professional shall be a designated person only as respects the carrying out of the services specified in the definition of \u2018relevant independent legal professional\u2019 in section 24(1).]<\/p>\n<p>(2) For the purposes of this Part, a person is to be treated as a designated person only in respect of those activities or services that render the person a designated person.<\/p>\n<p>(3) A reference in this Part to a designated person does not include a reference to any of the following:<\/p>\n<p>(a) the Minister for Finance;<\/p>\n<p>(b) the F30[Central Bank of Ireland];<\/p>\n<p>(c) the National Treasury Management Agency.<\/p>\n<p>(4) A person is not to be treated as a designated person for the purposes of this Part solely as a result of operating as a credit institution or financial institution, in the course of business, if\u2014<\/p>\n<p>(a) the annual turnover of the person\u2019s business that is attributable to operating as a credit institution or financial institution is \u20ac70,000 (or such other amount as may be prescribed) or less,<\/p>\n<p>(b) the total of any single transaction, or a series of transactions that are or appear to be linked to each other, in respect of which the person operates as a credit institution or financial institution does not exceed \u20ac1,000 (or such other lesser amount as may be prescribed),<\/p>\n<p>(c) the annual turnover of the person\u2019s business that is attributable to operating as a credit institution or financial institution does not exceed 5 per cent of the business\u2019s total annual turnover,<\/p>\n<p>(d) the person\u2019s operation as a credit institution or financial institution is directly related and ancillary to the person\u2019s main business activity, and<\/p>\n<p>(e) the person provides services when operating as a credit institution or financial institution only to persons who are customers in respect of the person\u2019s main business activity, rather than to members of the public in general.<\/p>\n<p>(5) Subsection (4) does not apply in relation to any prescribed class of person.<\/p>\n<p>(6) For the avoidance of doubt and without prejudice to the generality of subsection (1)(a) or (b), a credit or financial institution that acts in the State in the course of business carried on by the institution in the State, by means of a branch situated in the State, is a designated person whether or not the institution is incorporated, or the head office of the institution is situated, in a place other than in the State.<\/p>\n<p>(7) The Minister may prescribe a class of persons for the purposes of subsection (1)(j) only if the Minister is satisfied that any of the business activities engaged in by the class\u2014<\/p>\n<p>(a) may be used for the purposes of\u2014<\/p>\n<p>(i) money laundering,<\/p>\n<p>(ii) terrorist financing, or<\/p>\n<p>(iii) an offence that corresponds or is similar to money laundering or terrorist financing under the law of a place outside the State,<\/p>\n<p>or<\/p>\n<p>(b) are of a kind likely to result in members of the class obtaining information on the basis of which they may become aware of, or suspect, the involvement of customers or others in money laundering or terrorist financing.<\/p>\n<p>(8) The Minister may, in any regulations made under subsection (7) prescribing a class of persons, apply to the class such exemptions from, or modifications to, provisions of this Act as the Minister considers appropriate, having regard to any risk that the business activities engaged in by the class may be used for a purpose referred to in paragraph (a) of that subsection.<\/p>\n<p>(9) The Minister may prescribe an amount for the purposes of paragraph (a) or (b) of subsection (4), in relation to a person\u2019s business activities as a credit institution or financial institution, only if the Minister is satisfied that, in prescribing the amount, the purposes of that subsection will likely be fulfilled, including that\u2014<\/p>\n<p>(a) those activities are carried out by the person on a limited basis, and<\/p>\n<p>(b) there is little risk that those activities may be used for a purpose referred to in subsection (7)(a).<\/p>\n<p>(10) The Minister may prescribe a class of persons for the purpose of subsection (5) only if the Minister is satisfied that the application of subsection (4) to the class involves an unacceptable risk that the business activities engaged in by the class may be used for a purpose referred to in subsection (7)(a).<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F25<br \/>\nSubstituted (23.04.2021) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021 (3\/2021), s. 5(a), (b), S.I. No. 188 of 2021.<\/p>\n<p>F26<br \/>\nSubstituted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 5(a)(i), (ii)(II), S.I. No. 486 of 2018.<\/p>\n<p>F27<br \/>\nInserted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 5(a)(ii)(I), (b), S.I. No. 486 of 2018.<\/p>\n<p>F28<br \/>\nDeleted (23.04.2021) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021 (3\/2021), s. 5(c), S.I. No. 188 of 2021.<\/p>\n<p>F29<br \/>\nInserted (23.04.2021) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021 (3\/2021), s. 5(d), S.I. No. 188 of 2021.<\/p>\n<p>F30<br \/>\nSubstituted (1.10.2010) by Central Bank Reform Act 2010 (23\/2010), s. 15(14) and sch. 2 part 14 par. 33, S.I. No. 469 of 2010.<\/p>\n<p>Editorial Notes:<\/p>\n<p>E14<br \/>\nPower pursuant to subss. (7), (8) exercised (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (Section 25) (Prescribed Class of Designated Person) Regulations 2018 (S.I. No. 487 of 2018), in effect as per reg. 1(2).<\/p>\n<p>E15<br \/>\nPrevious affecting provision: subss. (1)(d) substituted and (1A) inserted by Criminal Justice Act 2013 (19\/2013), s. 5, not commenced; substituted and superseded as per F-note above.<\/p>\n<h4>Beneficial owner in relation to bodies corporate.<\/h4>\n<p>F31[26.\u2014 In this Part, &#8220;beneficial owner&#8221;, in relation to a body corporate, has the meaning given to it by point (6)(a) of Article 3 of the Fourth Money Laundering Directive.]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F31<br \/>\nSubstituted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 6, S.I. No. 486 of 2018.<\/p>\n<h4>Beneficial owner in relation to partnerships.<\/h4>\n<p>27.\u2014 In this Part, \u201cbeneficial owner\u201d, in relation to a partnership, means any individual who\u2014<\/p>\n<p>(a) ultimately is entitled to or controls, whether the entitlement or control is direct or indirect, more than a 25 per cent share of the capital or profits of the partnership or more than 25 per cent of the voting rights in the partnership, or<\/p>\n<p>(b) otherwise F32[controls] the partnership.<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F32<br \/>\nSubstituted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 7, S.I. No. 486 of 2018.<\/p>\n<h4>Beneficial owner in relation to trusts.<\/h4>\n<p>28.\u2014 (1) F33[\u2026]<\/p>\n<p>(2) In this Part, \u201cbeneficial owner\u201d, in relation to a trust, means any of the following:<\/p>\n<p>(a) any individual who is entitled to a vested interest in possession, remainder or reversion, whether or not the interest is defeasible, in F33[\u2026] the capital of the trust property;<\/p>\n<p>(b) in the case of a trust other than one that is set up or operates entirely for the benefit of individuals referred to in paragraph (a), the class of individuals in whose main interest the trust is set up or operates;<\/p>\n<p>(c) any individual who has control over F34[the trust;]<\/p>\n<p>F35[(d) the settlor;<\/p>\n<p>(e) the trustee;<\/p>\n<p>(f) the protector.]<\/p>\n<p>(3) For the purposes of and without prejudice to the generality of subsection (2), an individual who is the beneficial owner of a body corporate that\u2014<\/p>\n<p>(a) is entitled to a vested interest of the kind referred to in subsection (2)(a), or<\/p>\n<p>(b) has control over the trust,<\/p>\n<p>is taken to be entitled to the vested interest or to have control over the trust (as the case may be).<\/p>\n<p>(4) Except as provided by subsection (5), in this section \u201ccontrol\u201d, in relation to a trust, means a power (whether exercisable alone, jointly with another person or with the consent of another person) under the trust instrument concerned or by law to do any of the following:<\/p>\n<p>(a) dispose of, advance, lend, invest, pay or apply trust property;<\/p>\n<p>(b) vary the trust;<\/p>\n<p>(c) add or remove a person as a beneficiary or to or from a class of beneficiaries;<\/p>\n<p>(d) appoint or remove trustees;<\/p>\n<p>(e) direct, withhold consent to or veto the exercise of any power referred to in paragraphs (a) to (d).<\/p>\n<p>(5) For the purposes of the definition of \u201ccontrol\u201d in subsection (4), an individual does not have control solely as a result of the power exercisable collectively at common law to vary or extinguish a trust where the beneficiaries under the trust are at least 18 years of age, have full capacity and (taken together) are absolutely entitled to the property to which the trust applies.<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F33<br \/>\nDeleted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 8(a), (b)(i), S.I. No. 486 of 2018.<\/p>\n<p>F34<br \/>\nSubstituted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 8(b)(ii), S.I. No. 486 of 2018.<\/p>\n<p>F35<br \/>\nInserted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 8(b)(iii), S.I. No. 486 of 2018.<\/p>\n<h4>Beneficial owner in relation to estates of deceased persons.<\/h4>\n<p>29.\u2014 In this Part, \u201cbeneficial owner\u201d, in relation to an estate of a deceased person in the course of administration, means the executor or administrator of the estate concerned.<\/p>\n<h4>Other persons who are beneficial owners.<\/h4>\n<p>30.\u2014 (1) In this Part, \u201cbeneficial owner\u201d, in relation to a legal entity or legal arrangement, other than where section 26, 27 or 28, applies, means\u2014<\/p>\n<p>(a) if the individuals who benefit from the entity or arrangement have been determined, any individual who benefits from F36[\u2026] the property of the entity or arrangement,<\/p>\n<p>(b) if the individuals who benefit from the entity or arrangement have yet to be determined, the class of such individuals in whose main interest the entity or arrangement is set up or operates, and<\/p>\n<p>(c) any individual who exercises control over F36[\u2026] the property of the entity F37[or arrangement,]<\/p>\n<p>F38[(d) any person holding a position, in relation to the legal entity or legal arrangement that is similar or equivalent to the position specified in paragraphs (d) to (f) of section 28(2) in relation to a trust.]<\/p>\n<p>(2) For the purposes of and without prejudice to the generality of subsection (1), any individual who is the beneficial owner of a body corporate that benefits from or exercises control over the property of the entity or arrangement is taken to benefit from or exercise control over the property of the entity or arrangement.<\/p>\n<p>(3) In this Part, \u201cbeneficial owner\u201d, in relation to a case other than a case to which section 26, 27, 28 or 29, or subsection (1) of this section, applies, means any individual who ultimately owns or controls a customer or on whose behalf a transaction is conducted.<\/p>\n<p>(4) F36[\u2026]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F36<br \/>\nDeleted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 9(a)(i), (ii)(I), (b), S.I. No. 486 of 2018.<\/p>\n<p>F37<br \/>\nSubstituted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 9(a)(ii)(II), S.I. No. 486 of 2018.<\/p>\n<p>F38<br \/>\nInserted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 9(a)(iii), S.I. No. 486 of 2018.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Chapter 6<\/p>\n<p>Internal policies and procedures, training and record keeping<\/p>\n<h4>Internal policies and procedures and training.<\/h4>\n<p>F111[54.\u2014 (1) A designated person shall adopt internal policies, controls and procedures in relation to the designated person\u2019s business to prevent and detect the commission of money laundering and terrorist financing.<\/p>\n<p>(2) In particular, a designated person shall adopt internal policies, controls and procedures to be followed by any persons involved in carrying out the obligations of the designated person under this Part.<\/p>\n<p>(3) The internal policies, controls and procedures referred to in subsection (1) shall include policies, controls and procedures dealing with\u2014<\/p>\n<p>(a) the identification, assessment, mitigation and management of risk factors relating to money laundering or terrorist financing,<\/p>\n<p>(b) customer due diligence measures,<\/p>\n<p>(c) monitoring transactions and business relationships,<\/p>\n<p>(d) the identification and scrutiny of complex or large transactions, unusual patterns of transactions that have no apparent economic or visible lawful purpose and any other activity that the designated person has reasonable grounds to regard as particularly likely, by its nature to be related to money laundering or terrorist financing,<\/p>\n<p>(e) measures to be taken to prevent the use for money laundering or terrorist financing of transactions or products that could favour or facilitate anonymity,<\/p>\n<p>(f) measures to be taken to prevent the risk of money laundering or terrorist financing which may arise from technological developments including the use of new products and new practices and the manner in which services relating to such developments are delivered,<\/p>\n<p>(g) reporting (including the reporting of suspicious transactions),<\/p>\n<p>(h) record keeping,<\/p>\n<p>(i) measures to be taken to keep documents and information relating to the customers of that designated person up to date,<\/p>\n<p>(j) measures to be taken to keep documents and information relating to risk assessments by that designated person up to date,<\/p>\n<p>(k) internal systems and controls to identify emerging risks and keep business-wide risk assessments up to date, and<\/p>\n<p>(l) monitoring and managing compliance with, and the internal communication of, these policies, controls and procedures.<\/p>\n<p>(4) A designated person shall ensure that policies, controls and procedures adopted in accordance with this section are approved by senior management and shall keep such policies, controls and procedures under review, in particular when there are changes to the business profile or risk profile of the designated person.<\/p>\n<p>(5) In preparing internal policies, controls and procedures under this section, the designated person shall have regard to any guidelines on preparing, implementing and reviewing such policies and procedures that are issued by the competent authority for that designated person.<\/p>\n<p>(6) A designated person shall ensure that persons involved in the conduct of the designated person\u2019s business are\u2014<\/p>\n<p>(a) instructed on the law relating to money laundering and terrorist financing, and<\/p>\n<p>(b) provided with ongoing training on identifying a transaction or other activity that may be related to money laundering or terrorist financing, and on how to proceed once such a transaction or activity is identified.<\/p>\n<p>F112[(6A) A designated person shall have in place appropriate procedures for their employees, or persons in a comparable position, to report a contravention of this Act internally through a specific, independent and anonymous channel, proportionate to the nature and size of the designated person concerned.]<\/p>\n<p>(7) A designated person shall appoint an individual at management level, (to be called a &#8220;compliance officer&#8221;) to monitor and manage compliance with, and the internal communication of, internal policies, controls and procedures adopted by the designated person under this section if directed in writing to do so by the competent authority for that designated person.<\/p>\n<p>(8) A designated person shall appoint a member of senior management with primary responsibility for the implementation and management of anti-money laundering measures in accordance with this Part if directed in writing to do so by the competent authority for that designated person.<\/p>\n<p>(9) A designated person shall undertake an independent, external audit to test the effectiveness of the internal policies, controls and procedures outlined in this section if directed in writing to do so by the competent authority for that designated person.<\/p>\n<p>(10) A reference in this section to persons involved in carrying out the obligations of the designated person under this Part includes a reference to directors and other officers, and employees, of the designated person.<\/p>\n<p>(11) The obligations imposed on a designated person under this section do not apply to a designated person who is an employee of another designated person.<\/p>\n<p>(12) F113[Subsections (6), (6A)], (7), (8), and (9) do not apply to a designated person who is an individual and carries on business alone as a designated person.<\/p>\n<p>(13) A competent authority shall not issue a direction for the purposes of subsection (7), (8) or (9) unless it is satisfied that, having regard to the size and nature of the designated person, it is appropriate to do so.<\/p>\n<p>(14) A competent authority may make a direction to a class of designated persons for whom it is the competent authority for the purposes of subsection (7), (8) or (9).<\/p>\n<p>(15) A designated person who fails to comply with this section commits an offence and is liable\u2014<\/p>\n<p>(a) on summary conviction, to a class A fine or imprisonment for a term not exceeding 12 months (or both), or<\/p>\n<p>(b) on conviction on indictment, to a fine or imprisonment for a term not exceeding 5 years (or both).]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F111<br \/>\nSubstituted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 26, S.I. No. 486 of 2018. A class A fine means a fine not greater than \u20ac5,000 as provided (4.01.2011) by Fines Act 2010 (8\/2010), ss. 3, 4(1), S.I. No. 662 of 2010.<\/p>\n<p>F112<br \/>\nInserted (18.11.2019) by European Union (Money Laundering and Terrorist Financing) Regulations 2019 (S.I. No. 578 of 2019), reg. 2(a)(i).<\/p>\n<p>F113<br \/>\nSubstituted (18.11.2019) by European Union (Money Laundering and Terrorist Financing) Regulations 2019 (S.I. No. 578 of 2019), reg. 2(a)(ii).<\/p>\n<p>Editorial Notes:<\/p>\n<p>E26<br \/>\nPrevious affecting provision: section amended (14.06.2013) by Criminal Justice Act 2013 (19\/2013), s. 11(a), (b), (c), S.I. 196 of 2013; section substituted as per F-note above.<\/p>\n<h4>Keeping of records by designated persons.<\/h4>\n<p>55.\u2014 (1) A designated person shall keep records evidencing the procedures applied, and information obtained, by the designated person under Chapter 3 in relation to\u2014<\/p>\n<p>(a) each customer, and<\/p>\n<p>(b) in the case of a designated person to whom section 38 applies, each F114[correspondent relationship].<\/p>\n<p>(2) Without prejudice to the generality of subsection (1), a designated person shall take the original or a copy of all documents used by the designated person for the purposes of Chapter 3, including all documents used to verify the identity of customers F115[(including information from relevant trust services as set out in the Electronic Identification Regulation)] or beneficial owners in accordance with section 33.<\/p>\n<p>(3) A designated person shall keep records evidencing the history of services and transactions carried out in relation to each customer of the designated person.<\/p>\n<p>(4) F114[Subject to subsections (4A), (4B) and (4C), the documents and other records] referred to in subsections (1) to (3) F116[shall be retained by the designated person] for a period of not less than 5 years after\u2014<\/p>\n<p>(a) in the case of a record referred to in subsection (1)(a), the date on which the designated person ceases to provide any service to the customer concerned or the date of the last transaction (if any) with the customer, whichever is the later,<\/p>\n<p>(b) in the case of a record referred to in subsection (1) (b), the date on which the F114[correspondent relationship] concerned ends,<\/p>\n<p>(c) in the case of a record referred to in subsection (3) evidencing the carrying out of a particular transaction by the designated person with, for or on behalf of the customer (other than a record to which paragraph (d) applies), the date on which the particular transaction is completed or discontinued,<\/p>\n<p>(d) in the case of a record referred to in subsection (3) evidencing the carrying out of a particular occasional transaction comprised of a series of transactions, with, for or on behalf of a customer, the date on which the series of transactions is completed or discontinued, or<\/p>\n<p>(e) in the case of a record referred to in subsection (3) evidencing the carrying out of a particular service for or on behalf of the customer (other than a record to which paragraph (c) or (d) applies), the date on which the particular service is completed or discontinued.<\/p>\n<p>F117[(4A) Where a member of the Garda S\u00edoch\u00e1na not below the rank of Sergeant having carried out a thorough assessment of the necessity and proportionality of further retention is satisfied\u2014<\/p>\n<p>(a) that certain documents or records, or documents or records relating to a certain business relationship or occasional transaction, are required for the purposes of an investigation related to money laundering or terrorist financing, or<\/p>\n<p>(b) notwithstanding the fact that a decision to institute proceedings against a person may not have been taken, that the documents or records are likely to be required for the prosecution of an offence of money laundering or terrorist financing,<\/p>\n<p>the member may give a direction in writing to a designated person to retain the documents and other records for a period, up to a maximum of 5 years, additional to the period referred to in subsection (4).<\/p>\n<p>(4B) Where a direction has been given to a designated person in accordance with subsection (4A) and neither paragraph (a) nor (b) of that subsection continue to apply a member of the Garda S\u00edoch\u00e1na shall, as soon as practicable, notify the designated person to whom the direction was given of that fact and the direction shall expire on the date of that notification.<\/p>\n<p>(4C) A designated person who is given a direction under subsection (4A) shall retain the documents or records specified in the direction until the earlier of\u2014<\/p>\n<p>(a) the expiration of the additional period specified in the direction, and<\/p>\n<p>(b) the expiration of the direction.]<\/p>\n<p>(5) Subsection (4)(a) extends to any record that was required to be retained under section 32(9)(a) of the Act of 1994 immediately before the repeal of that provision by this Act.<\/p>\n<p>(6) Subsection (4)(c) to (e) extends to any record that was required to be retained under section 32(9)(b) of the Criminal Justice Act 1994 immediately before the repeal of that provision by this Act and for that purpose\u2014<\/p>\n<p>(a) a reference in subsection (4)(c) to (e) to a record referred to in subsection (3) includes a reference to such a record, and<\/p>\n<p>(b) a reference in subsection (4)(d) to an occasional transaction comprised of a series of transactions includes a reference to a series of transactions referred to in section 32(3)(b) of the Criminal Justice Act 1994.<\/p>\n<p>(7) A designated person may keep the records referred to in subsections (1) to (6) wholly or partly in an electronic, mechanical or other non-written form only if they are capable of being reproduced in a written form.<\/p>\n<p>F118[(7A) The records required to be kept by a designated person under this section may be kept outside the State provided that the designated person ensures that those records are produced in the State to\u2014<\/p>\n<p>(a) a member of the Garda S\u00edoch\u00e1na,<\/p>\n<p>(b) an authorised officer appointed under section 72,<\/p>\n<p>(c) a relevant authorised officer within the meaning of section 103, or<\/p>\n<p>(d) a person to whom the designated person is required to produce such records in relation to his or her business, trade or profession,<\/p>\n<p>as soon as practicable after the records concerned are requested, or where the obligation to produce the records arises under an order of a court made under section 63 of the Criminal Justice Act 1994, within the period which applies to such production under the court order concerned.]<\/p>\n<p>F117[(7B) Upon the expiry of the retention periods referred to in this section a designated person shall ensure that any personal data contained in any document or other record retained solely for the purposes of this section is deleted.]<\/p>\n<p>(8) The requirements imposed by this section are in addition to, and not in substitution for, any other requirements imposed by any other enactment or rule of law with respect to the keeping and retention of records by a designated person.<\/p>\n<p>(9) The obligations that are imposed on a designated person under this section continue to apply to a person who has been a designated person, but has ceased to carry on business as a designated person.<\/p>\n<p>(10) A requirement for a designated person that is a body corporate to retain any record under this section extends to any body corporate that is a successor to, or a continuation of, the body corporate.<\/p>\n<p>(11) The Minister may make regulations prescribing requirements relating to the retention of records referred to in this section of a body corporate that is wound up or a partnership that is dissolved.<\/p>\n<p>(12) A designated person who fails to comply with this section commits an offence and is liable\u2014<\/p>\n<p>(a) on summary conviction, to a fine not exceeding \u20ac5,000 or imprisonment for a term not exceeding 12 months (or both), or<\/p>\n<p>(b) on conviction on indictment, to a fine or imprisonment for a term not exceeding 5 years (or both).<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F114<br \/>\nSubstituted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 27(a), (b), (c), S.I. No. 486 of 2018.<\/p>\n<p>F115<br \/>\nInserted (23.04.2021) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021 (3\/2021), s. 16, S.I. No. 188 of 2021.<\/p>\n<p>F116<br \/>\nSubstituted (14.06.2013) by Criminal Justice Act 2013 (19\/2013), s. 12(a), S.I. No. 196 of 2013.<\/p>\n<p>F117<br \/>\nInserted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 27(d), (e), S.I. No. 486 of 2018.<\/p>\n<p>F118<br \/>\nInserted (14.06.2013) by Criminal Justice Act 2013 (19\/2013), s. 12(b), S.I. No. 196 of 2013.<\/p>\n<p>Chapter 7<\/p>\n<h4>Special provisions applying to credit and financial institutions<\/h4>\n<h4>Measures for retrieval of information relating to business relationships.<\/h4>\n<p>56.\u2014(1) A F119[\u2026] designated person shall have systems in place to enable it to respond fully and promptly to enquiries from the Garda S\u00edoch\u00e1na\u2014<\/p>\n<p>(a) as to whether or not it has, or has had, a business relationship, within the previous F120[5 years], with a person specified by the Garda S\u00edoch\u00e1na, and<\/p>\n<p>(b) the nature of any such relationship with that person.<\/p>\n<p>(2) F120[A designated person who] fails to comply with this section commits an offence and is liable\u2014<\/p>\n<p>(a) on summary conviction, to a fine not exceeding \u20ac5,000 or imprisonment for a term not exceeding 12 months (or both), or<\/p>\n<p>(b) on conviction on indictment, to a fine or imprisonment for a term not exceeding 5 years (or both).<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F119<br \/>\nDeleted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 28(a), S.I. No. 486 of 2018.<\/p>\n<p>F120<br \/>\nSubstituted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 28(b), (c), S.I. No. 486 of 2018.<\/p>\n<p>Editorial Notes:<\/p>\n<p>E27<br \/>\nA fine of \u20ac5,000 translates into a class A fine, not greater than \u20ac5,000, as provided (4.01.2011) by Fines Act 2010 (8\/2010), ss. 3, 4(2) and table ref. no. 1, S.I. No. 662 of 2010.<\/p>\n<p>F121[<\/p>\n<h4>Group-wide policies and procedures<\/h4>\n<p>57.\u2014 (1) A designated person that is part of a group shall implement group-wide policies and procedures, including data protection policies and policies and procedures for sharing information within the group, for the purposes of carrying out customer due diligence and preventing and detecting the commission of money laundering and terrorist financing.<\/p>\n<p>(2) A designated person incorporated in the State that operates a branch, majority-owned subsidiary or establishment in a place other than the State shall ensure that the branch, majority-owned subsidiary or establishment adopts and applies group-wide policies and procedures referred to in subsection (1).<\/p>\n<p>(3) Where a place referred to in subsection (2), other than a Member State, is a place that does not permit the implementation of the policies and procedures required under subsection (1) the designated person shall\u2014<\/p>\n<p>(a) ensure that each of its branches and majority-owned subsidiaries in that place applies additional measures to effectively handle the risk of money laundering or terrorist financing, and<\/p>\n<p>(b) notify the competent authority for that designated person of the additional measures applied under paragraph (a).<\/p>\n<p>(4) A designated person incorporated in the State that operates a branch, majority-owned subsidiary or establishment in another Member State shall ensure that the branch, majority-owned subsidiary or establishment complies with the requirements of the Fourth Money Laundering Directive as they apply in that Member State.<\/p>\n<p>(5) A designated person incorporated in the State that has a branch or majority-owned subsidiary located in a place, other than a Member State, in which the minimum requirements relating to the prevention and detection of money laundering and terrorist financing are less strict than those of the State shall ensure that the branch or majority-owned subsidiary implement the requirements of the State, including requirements relating to data protection, to the extent that the third country\u2019s law so allows.<\/p>\n<p>(6) Subject to section 49, a designated person that is part of a group that makes a report under section 42 shall share that report within the group for the purposes of preventing and detecting the commission of money laundering and terrorist financing unless otherwise instructed by FIU Ireland.<\/p>\n<p>(7) A designated person that fails to comply with this section commits an offence and is liable\u2014<\/p>\n<p>(a) on summary conviction, to a class A fine or imprisonment for a term not exceeding 12 months (or both), or<\/p>\n<p>(b) on conviction on indictment, to a fine or imprisonment for a term not exceeding 5 years (or both).]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F121<br \/>\nSubstituted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 29, S.I. No. 486 of 2018. A class A fine means a fine not greater than \u20ac5,000 as provided (4.01.2011) by Fines Act 2010 (8\/2010), ss. 3, 4(1), S.I. No. 662 of 2010.<\/p>\n<p>F122[<\/p>\n<h4>Additional measures where implementation of policies and procedures is not possible<\/h4>\n<p>57A.\u2014 (1) Where a competent authority receives a notification under section 57(3)(b) and is not satisfied that the additional measures applied in accordance with that subsection are sufficient for the purposes of carrying out customer due diligence and preventing and detecting the commission of money laundering and terrorist financing it shall exercise additional supervisory actions, where necessary requesting a group to close down its operations in the third country and may, by notice in writing, direct the designated person to take such additional actions as the competent authority considers necessary to mitigate the risk of money laundering or terrorist financing.<\/p>\n<p>(2) A notice under subsection (1)\u2014<\/p>\n<p>(a) may direct the group\u2014<\/p>\n<p>(i) not to establish a business relationship,<\/p>\n<p>(ii) to terminate a business relationship, or<\/p>\n<p>(iii) not to undertake a transaction,<\/p>\n<p>and<\/p>\n<p>(b) shall specify the matters which, in the opinion of the competent authority, give rise to the risk of money laundering or terrorist financing and in respect of which the additional measures taken are insufficient.<\/p>\n<p>(3) A notice under subsection (1) shall take effect\u2014<\/p>\n<p>(a) where the notice so declares, immediately the notice is received by the person on whom it is served,<\/p>\n<p>(b) in any other case\u2014<\/p>\n<p>(i) where no appeal is taken against the notice, on the expiration of the period during which such an appeal may be taken or the day specified in the notice as the day on which it is to come into effect, whichever is the later, or<\/p>\n<p>(ii) in case such an appeal is taken, on the day next following the day on which the notice is confirmed on appeal or the appeal is withdrawn or the day specified in the notice as that on which it is to come into effect, whichever is the later.<\/p>\n<p>(4) A designated person that is aggrieved by a notice may, within the period of 30 days beginning on the day on which the notice is served, appeal against the notice to the High Court and in determining the appeal the court may\u2014<\/p>\n<p>(a) if the court is satisfied that in the circumstances of the case it is reasonable to do so, confirm the notice, with or without modification, or<\/p>\n<p>(b) cancel the notice.<\/p>\n<p>(5) The bringing of an appeal against a notice which is to take effect in accordance with subsection (3)(a) shall not have the effect of suspending the operation of the notice, but the appellant may apply to the court to have the operation of the notice suspended until the appeal is disposed of and, on such application, the court may, if it thinks proper to do so, direct that the operation of the notice be suspended until the appeal is disposed of.<\/p>\n<p>(6) Where on the hearing of an appeal under this section a notice is confirmed the High Court may, on the application of the appellant, suspend the operation of the notice for such period as in the circumstances of the case the High Court considers appropriate.<\/p>\n<p>(7) A person who appeals under subsection (4) against a notice or who applies for a direction suspending the application of the notice under subsection (6) shall at the same time notify the competent authority concerned of the appeal or the application and the grounds for the appeal or the application and the competent authority shall be entitled to appear, be heard and adduce evidence on the hearing of the appeal or the application.<\/p>\n<p>(8) A designated person that fails to comply with a direction made by the competent authority for that designated person under subsection (1) commits an offence and is liable\u2014<\/p>\n<p>(a) on summary conviction, to a class A fine or imprisonment for a term not exceeding 12 months (or both), or<\/p>\n<p>(b) on conviction on indictment, to a fine or imprisonment for a term not exceeding 5 years (or both).<\/p>\n<p>(9) A competent authority may, by notice in writing to the designated person concerned, vary or revoke a notice under subsection (1).]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F122<br \/>\nInserted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 30, S.I. No. 486 of 2018. A class A fine means a fine not greater than \u20ac5,000 as provided (4.01.2011) by Fines Act 2010 (8\/2010), ss. 3, 4(1), S.I. No. 662 of 2010.<\/p>\n<p>Editorial Notes:<\/p>\n<p>E28<br \/>\nThe section heading is taken from the amending section in the absence of one included in the amendment.<\/p>\n<h4>Anonymous accounts.<\/h4>\n<p>58.\u2014 (1) A credit institution or financial institution shall not set up an anonymous account for, or provide an F123[anonymous passbook or safe-deposit box] to, any customer.<\/p>\n<p>(2) A credit institution or financial institution shall not keep any anonymous account, or F123[anonymous passbook or safe-deposit box], that was in existence immediately before the commencement of this section for any customer.<\/p>\n<p>(3) A credit institution or financial institution that fails to comply with this section commits an offence and is liable\u2014<\/p>\n<p>(a) on summary conviction, to a fine not exceeding \u20ac5,000 or imprisonment for a term not exceeding 12 months (or both), or<\/p>\n<p>(b) on conviction on indictment, to a fine or imprisonment for a term not exceeding 5 years (or both).<\/p>\n<p>Annotations:<\/p>\n<p>Amendments:<\/p>\n<p>F123<br \/>\nSubstituted (23.04.2021) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021 (3\/2021), s. 17, S.I. No. 188 of 2021.<\/p>\n<p>Editorial Notes:<\/p>\n<p>E29<br \/>\nA fine of \u20ac5,000 translates into a class A fine, not greater than \u20ac5,000, as provided (4.01.2011) by Fines Act 2010 (8\/2010), ss. 3, 4(2) and table ref. no. 1, S.I. No. 662 of 2010.<\/p>\n<h4>Relationships between credit institutions and shell banks.<\/h4>\n<p>F124[59.\u2014 (1) A credit institution or financial institution shall not enter into a correspondent relationship with a shell bank.<\/p>\n<p>(2) A credit institution or financial institution that has entered into a correspondent relationship with a shell bank before the commencement of this section shall not continue that relationship.<\/p>\n<p>(3) A credit institution or financial institution shall not engage in or continue a correspondent relationship with a bank that the institution knows permits its accounts to be used by a shell bank.<\/p>\n<p>(4) A credit institution or financial institution shall apply appropriate measures to ensure that it does not enter into or continue a correspondent relationship that permits its accounts to be used by a shell bank.<\/p>\n<p>(5) A credit institution or financial institution that fails to comply with this section commits an offence and is liable\u2014<\/p>\n<p>(a) on summary conviction, to a class A fine or imprisonment for a term not exceeding 12 months (or both), or<\/p>\n<p>(b) on conviction on indictment, to a fine or imprisonment for a term not exceeding 5 years (or both).<\/p>\n<p>(6) In this section, &#8220;shell bank&#8221; means a credit institution or financial institution (or a body corporate that is engaged in activities equivalent to those of a credit institution or financial institution) that\u2014<\/p>\n<p>(a) does not have a physical presence, involving meaningful decision-making and management, in the jurisdiction in which it is incorporated,<\/p>\n<p>(b) is not authorised to operate, and is not subject to supervision, as a credit institution, or as a financial institution, (or equivalent) in the jurisdiction in which it is incorporated, and<\/p>\n<p>(c) is not affiliated with another body corporate that\u2014<\/p>\n<p>(i) has a physical presence, involving meaningful decision-making and management, in the jurisdiction in which it is incorporated, and<\/p>\n<p>(ii) is authorised to operate, and is subject to supervision, as a credit institution, a financial institution or an insurance undertaking, in the jurisdiction in which it is incorporated.]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F124<br \/>\nSubstituted Inserted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 31, S.I. No. 486 of 2018. A class A fine means a fine not greater than \u20ac5,000 as provided (4.01.2011) by Fines Act 2010 (8\/2010), ss. 3, 4(1), S.I. No. 662 of 2010.<\/p>\n<p>&nbsp;<\/p>\n<p>Chapter 9<\/p>\n<h4>Authorisation of Trust or Company Service Providers<\/h4>\n<p>Annotations<\/p>\n<p>Modifications (not altering text):<\/p>\n<p>C11<br \/>\nApplication of Chapter extended (15.07.2010) by European Communities (Trust or Company Service Providers) (Temporary Authorisation) Regulations 2010 (S.I. No. 347 of 2010), regs. 5 and 9, in effect as per reg. 2.<\/p>\n<p>5. A person to whom these Regulations apply who makes an application for an authorisation under section 88 of the Act of 2010 shall, subject to the provisions of these Regulations, be deemed to be the holder of an authorisation under Chapter 9 of Part 4 of the Act of 2010 and any such authorisation deemed to have been so granted is in these Regulations referred to as a \u201ctemporary authorisation\u201d.<\/p>\n<p>&#8230;<\/p>\n<p>9. The holder of a temporary authorisation shall be subject to and comply with the provisions of Chapter 9 of Part 4 of the Act of 2010 as if such authorisation had been granted under that Chapter and without prejudice to the generality of the foregoing\u2014<\/p>\n<p>(a) a temporary authorisation may be amended under section 93 of the Act of 2010,<\/p>\n<p>(b) a temporary authorisation may be revoked in accordance with sections 96 and 97 of the Act of 2010,<\/p>\n<p>(c) the Minister may as respects the holder of a temporary authorisation give a direction under section 98 of the Act of 2010.<\/p>\n<p>&#8230;<\/p>\n<p>&nbsp;<\/p>\n<p>Chapter 10<\/p>\n<p>Other<\/p>\n<p>Guidelines.<\/p>\n<p>107.\u2014 F183[\u2026]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F183<br \/>\nRepealed (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 40(b), S.I. No. 486 of 2018.<\/p>\n<p>F184[<\/p>\n<h4>Defence<\/h4>\n<p>107A.\u2014 It shall be a defence in proceedings for an offence under this Part for the person charged with the offence to prove that the person took all reasonable steps to avoid the commission of the offence.]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F184<br \/>\nInserted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 33, S.I. No. 486 of 2018.<\/p>\n<p>Editorial Notes:<\/p>\n<p>E46<br \/>\nThe section heading is taken from the amending section in the absence of one included in the amendment.<\/p>\n<h4>Minister may delegate certain functions under this Part.<\/h4>\n<p>108.\u2014 (1) The Minister may, by instrument in writing, delegate any of the Minister\u2019s functions under Chapter 8 or 9, or under section 109, to a named officer or an officer of a particular class or description.<\/p>\n<p>(2) A delegation under this section may be made subject to such conditions or limitations as to the performance of any of the functions delegated, or as to time or circumstance, as may be specified in the instrument of delegation.<\/p>\n<p>(3) The Minister may, by instrument in writing, revoke a delegation under this section.<\/p>\n<p>(4) A function delegated under this section may, while the delegation remains unrevoked, be performed by the delegate in accordance with the terms of the delegation.<\/p>\n<p>(5) The Minister may continue to perform any functions delegated under this section.<\/p>\n<p>(6) Nothing in this section shall be construed as affecting the application to this Act of the general law concerning the imputing of acts of an officer of a Minister of the Government to the Minister of the Government.<\/p>\n<p>(7) In this section, \u201cofficer\u201d means an officer of the Minister who is an established civil servant for the purposes of the Civil Service Regulation Act 1956.<\/p>\n<p>F185[<\/p>\n<h4>Obligation for certain designated persons to register with Central Bank of Ireland<\/h4>\n<p>108A.\u2014 (1) Subject to subsection (2), a person who is a designated person pursuant to paragraph (a) of the definition of &#8220;financial institution&#8221; in section 24(1) and section 25(1)(b) F186[\u2026] shall register with the Bank.<\/p>\n<p>(2) Subsection (1) shall not apply to a designated person that is authorised or licensed to carry on its activities by, or is registered with, the Bank under\u2014<\/p>\n<p>(a) an Act of the Oireachtas (other than this Act),<\/p>\n<p>(b) a statute that was in force in Saorst\u00e1t \u00c9ireann immediately before the date of the coming into operation of the Constitution and that continues in force by virtue of Article 50 of the Constitution, or<\/p>\n<p>(c) an instrument made under an Act of the Oireachtas or a statute referred to in paragraph (b).<\/p>\n<p>(3) A designated person who is required to register under this section commits an offence if the person fails to do so and is liable\u2014<\/p>\n<p>(a) on summary conviction, to a class A fine or imprisonment for a term not exceeding 12 months (or both), or<\/p>\n<p>(b) on conviction on indictment to a fine or imprisonment for a term not exceeding 5 years (or both).<\/p>\n<p>(4) The Bank shall establish and maintain a register of persons that register under this section (referred to in this section as &#8220;the Register&#8221;).<\/p>\n<p>(5) The following particulars shall be entered into the Register in respect of each designated person registered:<\/p>\n<p>(a) the name of the designated person;<\/p>\n<p>(b) the address of the head office and registered office of the designated person;<\/p>\n<p>(c) the activities that the designated person carries out that are contained within the meaning of paragraph (a) of the definition of financial institution in section 24(1).<\/p>\n<p>(6) F186[\u2026]<\/p>\n<p>(7) The Bank may specify a procedure for registering under this section.<\/p>\n<p>(8) The Register may be in book form, electronic form or such other form as the Bank may determine. The Register may be maintained in an electronic, mechanical or other non-written form only if it is capable of being reproduced in a written form.<\/p>\n<p>(9) The particulars entered in the Register pursuant to this section relating to a person who is a designated person pursuant to section 25(1)(b) and paragraph (a) of the definition of financial institution in section 24(1) may be removed from the Register where that person ceases to be a designated person pursuant to those provisions or is authorised or licensed to carry on its activities by, or is registered with, the Bank under an enactment specified in paragraph (a), (b) or (c) of subsection (2).<\/p>\n<p>(10) F186[\u2026]<\/p>\n<p>(11) In this section &#8220;Bank&#8221; means the Central Bank of Ireland.]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F185<br \/>\nInserted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 34, S.I. No. 486 of 2018. A class A fine is defined as a fine not exceeding \u20ac5,000 (4.01.2011) by Fines Act 2010 (8\/2010), s. 3, S.I. No. 662 of 2010.<\/p>\n<p>F186<br \/>\nDeleted (2.12.2019) by European Union (Anti-Money Laundering: Cheque Cashing Offices) Regulations 2019 (S.I. No. 600 of 2019), reg. 2(b)(i), (ii).<\/p>\n<p>Editorial Notes:<\/p>\n<p>E47<br \/>\nThe section heading is taken from the amending section in the absence of one included in the amendment.<\/p>\n<p>F187[<\/p>\n<h4>Obligation for cheque cashing offices to register with Central Bank of Ireland<\/h4>\n<p>108B.\u2014 (1) A person shall not carry on business as a cheque cashing office unless the person is registered under this section.<\/p>\n<p>(2) A person who contravenes subsection (1) commits an offence and is liable\u2014<\/p>\n<p>(a) on summary conviction, to a class A fine or imprisonment for a term not exceeding 12 months (or both), or<\/p>\n<p>(b) on conviction on indictment, to a fine not exceeding \u20ac500,000 or imprisonment for a term not exceeding 3 years (or both).<\/p>\n<p>(3) Save to the extent that such procedures are provided for under this section, the Bank may specify procedures for registering under this section.<\/p>\n<p>(4) An individual, body corporate or partnership may apply to the Bank to be registered under this section.<\/p>\n<p>(5) An application for registration under this section shall\u2014<\/p>\n<p>(a) be in a form provided or specified by the Bank,<\/p>\n<p>(b) specify the name of\u2014<\/p>\n<p>(i) the applicant,<\/p>\n<p>(ii) in a case where the applicant is a body corporate or partnership, any principal officer of the body corporate or partnership (as the case may be), and<\/p>\n<p>(iii) any person who is, or is proposed to be, a beneficial owner of the applicant,<\/p>\n<p>(c) specify the address of the registered office of the applicant,<\/p>\n<p>(d) specify the address at which the business of a cheque cashing office is proposed to be carried on, and<\/p>\n<p>(e) contain such other information, and be accompanied by such documents, as the Bank may reasonably request including, for the purposes of the Bank assessing whether persons referred to in paragraph (b) are fit and proper persons, such information and documents as the Bank may reasonably require relating to the steps taken by the applicant to ensure that those persons are fit and proper persons and the process of verification carried out by the applicant for the purposes of so ensuring.<\/p>\n<p>(6) The Bank may, by written notice given to an applicant, require the applicant to provide, within the period of not less than 14 days specified in the notice, such additional information and documents as are reasonably necessary to enable the Bank to determine the application for registration under this section.<\/p>\n<p>(7) Subject to section 108D, the Bank may refuse an application for registration under this section only if\u2014<\/p>\n<p>(a) the application does not comply with the requirements of subsection (5),<\/p>\n<p>(b) the applicant does not provide any additional documents or information in accordance with a notice given under subsection (6),<\/p>\n<p>(c) the Bank has reasonable grounds to be satisfied that information given to the Bank by the applicant in connection with the application is false or misleading in any material particular,<\/p>\n<p>(d) the Bank has reasonable grounds to be satisfied that any of the following persons is not a fit and proper person:<\/p>\n<p>(i) the applicant;<\/p>\n<p>(ii) in a case in which the applicant is a body corporate or partnership, any principal officer of the body corporate or partnership (as the case may be);<\/p>\n<p>(iii) any person who is, or is proposed to be, a beneficial owner of the applicant,<\/p>\n<p>(e) the applicant has failed to satisfy the Bank that the applicant would, if registered, comply with the obligations imposed on it under this Chapter,<\/p>\n<p>(f) the applicant has failed to satisfy the Bank that the applicant would, if registered, comply with each of the following:<\/p>\n<p>(i) any conditions to which the registration would have been subject;<\/p>\n<p>(ii) a direction of the Bank under section 108G(1),<\/p>\n<p>(g) the applicant is so structured, or the business of the applicant is so organised, that the applicant is not capable of being regulated under this Chapter to the satisfaction of the Bank,<\/p>\n<p>(h) in a case where the applicant is a body corporate, the body corporate is being wound up,<\/p>\n<p>(i) in a case where the applicant is a partnership, the partnership is dissolved by the death or bankruptcy of a partner or because of the operation of a provision of the Partnership Act 1890 or otherwise,<\/p>\n<p>(j) in a case where any person referred to in paragraph (d) has been authorised to carry on business as a cheque cashing office in another Member State, an authority of the other Member State that performs functions similar to those of the Bank under this Chapter has terminated the authority of the person to carry on business as a cheque cashing office in the other Member State, or<\/p>\n<p>(k) in a case where the applicant is a subsidiary of a body corporate that is authorised to carry on business as a cheque cashing office in another Member State, an authority of the other Member State that performs functions similar to those of the Bank under this Chapter has terminated the authority of the body corporate to carry on business as a cheque cashing office in the other Member State.<\/p>\n<p>(8) If the Bank does not refuse an application for registration, the Bank shall register the applicant under this section.<\/p>\n<p>(9) The Bank shall establish and maintain a register of persons registered under this section (referred to in this section as &#8220;the Register&#8221;).<\/p>\n<p>(10) The following particulars shall be entered into the Register in respect of each person registered under this section (in this section and sections 108C to 108I referred to as \u201cthe person registered\u201d):<\/p>\n<p>(a) the name of the person registered;<\/p>\n<p>(b) the address of the registered office of the person registered;<\/p>\n<p>(c) the address at which the business of a cheque cashing office is carried on.<\/p>\n<p>(11) Subject to subsection (12), the Register may be in book form, electronic form or such other form as the Bank may determine.<\/p>\n<p>(12) The Register may be maintained in an electronic, mechanical or other non-written form only if it is capable of being reproduced in a written form.<\/p>\n<p>(13) In this section and sections 108C to 108I\u2014<\/p>\n<p>&#8220;Bank&#8221; means the Central Bank of Ireland;<\/p>\n<p>&#8220;principal officer&#8221; has the same meaning as it has in Chapter 9.]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F187<br \/>\nInserted (2.12.2019) by European Union (Anti-Money Laundering: Cheque Cashing Offices) Regulations 2019 (S.I. No. 600 of 2019), reg. 2(c). A class A fine means a fine not exceeding \u20ac5,000 as provided (4.01.2011) by Fines Act 2010 (8\/2010), ss. 3, 4(1), S.I. No. 662 of 2010.<\/p>\n<p>F188[<\/p>\n<h4>Cancellation of registration and removal from register<\/h4>\n<p>108C.\u2014 (1) Subject to section 108D, the Bank may cancel the registration of a person under this section only if the Bank has reasonable grounds to be satisfied of any of the following:<\/p>\n<p>(a) the person registered has not commenced to carry on business as a cheque cashing office within 12 months after the date on which the person was registered;<\/p>\n<p>(b) the person registered has not carried on such a business within the 6 months immediately preceding the cancellation;<\/p>\n<p>(c) registration was obtained by means of a false or misleading representation;<\/p>\n<p>(d) any of the following persons is not a fit and proper person:<\/p>\n<p>(i) the person registered;<\/p>\n<p>(ii) in a case where the person registered is a body corporate or partnership, any principal officer of the body corporate or partnership (as the case may be);<\/p>\n<p>(iii) any person who is a beneficial owner of the person registered;<\/p>\n<p>(e) the person registered has contravened or is contravening the obligations imposed on it under this Chapter;<\/p>\n<p>(f) the person registered has contravened or is contravening any of the following:<\/p>\n<p>(i) a condition to which the registration is subject;<\/p>\n<p>(ii) a direction of the Bank under section 108G(1);<\/p>\n<p>(g) the person registered is so structured, or the business of that person is so organised, that the person is not capable of being regulated under this Chapter;<\/p>\n<p>(h) in a case where the person registered is a body corporate, the body corporate is being wound up;<\/p>\n<p>(i) in a case where the person registered is a partnership, the partnership is dissolved by the death or bankruptcy of a partner or because of the operation of a provision of the Partnership Act 1890 or otherwise;<\/p>\n<p>(j) in a case where any person referred to in paragraph (d) has been authorised to carry on business as a cheque cashing office in another Member State, an authority of the other Member State that performs functions similar to those of the Bank under this Chapter has terminated the authority of the person to carry on business as a cheque cashing office in the other Member State;<\/p>\n<p>(k) in a case where the person registered is a subsidiary of a body corporate that is authorised to carry on business as a cheque cashing office in another Member State, an authority of the other Member State that performs functions similar to those of the Bank under this Chapter has terminated the authority of the body corporate to carry on business as a cheque cashing office in the other Member State.<\/p>\n<p>(2) The particulars relating to a person entered in the Register pursuant to this section shall be removed from the Register where the Bank cancels the registration of that person in accordance with this section.]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F188<br \/>\nInserted (2.12.2019) by European Union (Anti-Money Laundering: Cheque Cashing Offices) Regulations 2019 (S.I. No. 600 of 2019), reg. 2(c).<\/p>\n<p>F189[<\/p>\n<h4>Notice of refusal or cancellation of registration and right to make representations<\/h4>\n<p>108D.\u2014 (1) If the Bank proposes to\u2014<\/p>\n<p>(a) refuse to register a person under section 108B, or<\/p>\n<p>(b) cancel a registration of a person under section 108C,<\/p>\n<p>the Bank shall serve on the person a notice in writing informing the person of the Bank\u2019s intention to refuse to register the person or cancel the registration, as the case may be.<\/p>\n<p>(2) A notice served under subsection (1) shall\u2014<\/p>\n<p>(a) specify the grounds on which the Bank proposes to refuse or cancel the registration, and<\/p>\n<p>(b) inform the person that the person may, within 21 days after the serving of the notice, make written representations to the Bank showing why the Bank should register the person, or not cancel the registration, as the case may be.<\/p>\n<p>(3) Not later than 21 days after a notice is served on a person under subsection (1), the person may make written representations to the Bank showing why the Bank should register the person, or not cancel the registration, as the case may be.<\/p>\n<p>(4) The Bank may\u2014<\/p>\n<p>(a) refuse to register a person under section 108B, or<\/p>\n<p>(b) cancel a registration of a person under section 108C,<\/p>\n<p>as the case may be, only after having considered any representations made by the person in accordance with subsection (3).<\/p>\n<p>(5) As soon as practicable after refusing to register a person under section 108B or cancelling a registration under section 108C, the Bank shall serve a written notice of the refusal or cancellation, as the case may be, on the person concerned, including a statement setting out the reasons for the refusal or cancellation, as the case may be.<\/p>\n<p>(6) A decision of the Bank to refuse to register a person under section 108B or to cancel a registration under section 108C is an appealable decision for the purposes of Part VIIA of the Central Bank Act 1942.]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F189<br \/>\nInserted (2.12.2019) by European Union (Anti-Money Laundering: Cheque Cashing Offices) Regulations 2019 (S.I. No. 600 of 2019), reg. 2(c).<\/p>\n<p>F190[<\/p>\n<h4>Registration subject to conditions<\/h4>\n<p>108E.\u2014 (1) The Bank may decide to register a person under section 108B subject to such conditions as the Bank considers necessary for the proper and orderly regulation of the registered person\u2019s business as a cheque cashing office and, in particular, for preventing the business from being used to carry out money laundering or terrorist financing.<\/p>\n<p>(2) If, under this section, the Bank decides to register a person subject to conditions, the Bank shall serve on the person registered a written notice of the conditions that includes a statement setting out the reasons for the decision.<\/p>\n<p>(3) A person registered commits an offence if he or she fails to comply with any condition to which the registration is subject and is liable\u2014<\/p>\n<p>(a) on summary conviction, to a class C fine, or<\/p>\n<p>(b) on conviction on indictment, to a fine not exceeding \u20ac100,000.<\/p>\n<p>(4) A decision of the Bank to register a person subject to conditions under subsection (1) is an appealable decision for the purposes of Part VIIA of the Central Bank Act 1942.]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F190<br \/>\nInserted (2.12.2019) by European Union (Anti-Money Laundering: Cheque Cashing Offices) Regulations 2019 (S.I. No. 600 of 2019), reg. 2(c). A class C fine means not greater than \u20ac2,500 as provided (4.01.2011) by Fines Act 2010 (8\/2010), ss. 3, 6(1), S.I. No. 662 of 2010.<\/p>\n<p>F191[<\/p>\n<h4>Person registered to ensure that principal officers and beneficial owners are fit and proper persons<\/h4>\n<p>108F.\u2014 A person registered shall take reasonable steps to ensure that the following persons are fit and proper persons:<\/p>\n<p>(a) in a case where the person registered is a body corporate, a partnership or an individual carrying on business as a cheque cashing office as a partner in a partnership, any principal officer of the body corporate or partnership (as the case may be);<\/p>\n<p>(b) any person who is a beneficial owner of the business concerned.]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F191<br \/>\nInserted (2.12.2019) by European Union (Anti-Money Laundering: Cheque Cashing Offices) Regulations 2019 (S.I. No. 600 of 2019), reg. 2(c).<\/p>\n<p>F192[<\/p>\n<h4>Direction not to carry out business other than as directed<\/h4>\n<p>108G.\u2014 (1) If the Bank reasonably believes that there may be grounds for cancelling a registration under section 108C, the Bank may serve on the person registered a direction in writing prohibiting that person from carrying on business as a cheque cashing office other than in accordance with conditions specified by the Bank in the direction.<\/p>\n<p>(2) The Bank shall include in a direction under this section a statement\u2014<\/p>\n<p>(a) setting out the reasons for giving the direction,<\/p>\n<p>(b) specifying the period during which the direction remains in force, and<\/p>\n<p>(c) specifying the conditions with which the person registered is required to comply.<\/p>\n<p>(3) The Bank may, by notice in writing served on the person registered concerned, amend or revoke a direction given under subsection (1).<\/p>\n<p>(4) Without prejudice to the generality of subsection (3), the Bank may, by notice in writing given to the person registered concerned, extend the period during which a direction remains in force by a further period or periods not exceeding 6 months.<\/p>\n<p>(5) A direction under this section ceases to have effect\u2014<\/p>\n<p>(a) at the end of the period, not exceeding 6 months, specified in the direction, or if the period is extended under subsection (4), at the end of the extended period, or<\/p>\n<p>(b) on the cancellation of the registration of a person under section 108C, whichever occurs first.<\/p>\n<p>(6) A person who contravenes a direction given under subsection (1), or fails to comply with a condition contained in the direction, commits an offence.<\/p>\n<p>(7) A person who commits an offence under this section is liable\u2014<\/p>\n<p>(a) on summary conviction, to a class A fine, or<\/p>\n<p>(b) on conviction on indictment, to a fine not exceeding \u20ac500,000 or imprisonment for a term not exceeding 3 years (or both).<\/p>\n<p>(8) A decision of the Bank to give a direction under subsection (1) is an appealable decision for the purposes of Part VIIA of the Central Bank Act 1942.]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F192<br \/>\nInserted (2.12.2019) by European Union (Anti-Money Laundering: Cheque Cashing Offices) Regulations 2019 (S.I. No. 600 of 2019), reg. 2(c). A class A fine means a fine not greater than \u20ac5,000 as provided (4.01.2011) by Fines Act 2010 (8\/2010), ss. 3, 4(1), S.I. No. 662 of 2010.<\/p>\n<p>F193[<\/p>\n<h4>Provision of information by Garda S\u00edoch\u00e1na as to whether or not person is fit and proper person<\/h4>\n<p>108H.\u2014 (1) The Bank may request the Commissioner of the Garda S\u00edoch\u00e1na to provide any information that is required to assist the Bank in determining, for the purposes of sections 108B to 108I, whether or not any of the following persons is a fit and proper person:<\/p>\n<p>(a) the person who proposes to carry on or carries on, as the case may be, the business of a cheque cashing office;<\/p>\n<p>(b) in a case in which the person referred to in paragraph (a) is a body corporate or partnership, any principal officer of the body corporate or partnership (as the case may be);<\/p>\n<p>(c) in a case in which there is a beneficial owner of the person referred to in paragraph (a), the beneficial owner.<\/p>\n<p>(2) Notwithstanding any other enactment or rule of law, the Commissioner of the Garda S\u00edoch\u00e1na shall provide the Bank with information in accordance with a request of the Bank under subsection (1).]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F193<br \/>\nInserted (2.12.2019) by European Union (Anti-Money Laundering: Cheque Cashing Offices) Regulations 2019 (S.I. No. 600 of 2019), reg. 2(c).<\/p>\n<p>F194[<\/p>\n<h4>Persons registered to retain certain records<\/h4>\n<p>108I.\u2014 (1) A person registered shall\u2014<\/p>\n<p>(a) retain at an office or other premises in the State such records as may be specified by the Bank, and<\/p>\n<p>(b) notify the Bank in writing of the address of any office or other premises where those records are retained.<\/p>\n<p>(2) The requirement imposed by subsection (1) is in addition to, and not in substitution for, any other requirements imposed under any other enactment or rule of law with respect to the retention of records by the person registered.<\/p>\n<p>(3) The person registered shall retain the records referred to in subsection (1) for a period of not less than 6 years after\u2014<\/p>\n<p>(a) in the case of a record made in relation to a customer of the person registered, the last dealing with the customer, or<\/p>\n<p>(b) in any other case, the record is made.<\/p>\n<p>(4) The person registered may keep the records referred to in subsection (1) wholly or partly in an electronic, mechanical or other non-written form only if they are capable of being reproduced in a written form.<\/p>\n<p>(5) The obligations that are imposed by subsections (1) and (3) on a person registered continue to apply to a person who has been registered under section 108B, but has ceased to be so registered or to carry on business as a cheque cashing office.<\/p>\n<p>(6) Where the person registered is a body corporate, the requirement to retain any record under this section applies to any body corporate that is a successor to, or a continuation of, the person registered.<\/p>\n<p>(7) A person who fails to comply with this section commits an offence and is liable\u2014<\/p>\n<p>(a) on summary conviction, to a class A fine or imprisonment for a term not exceeding 12 months (or both), or<\/p>\n<p>(b) on conviction on indictment, to a fine not exceeding \u20ac500,000 or imprisonment for a term not exceeding 3 years (or both).]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F194<br \/>\nInserted (2.12.2019) by European Union (Anti-Money Laundering: Cheque Cashing Offices) Regulations 2019 (S.I. No. 600 of 2019), reg. 2(c). A class A fine means a fine not exceeding \u20ac5,000 as provided (4.01.2011) by Fines Act 2010 (8\/2010), ss. 3, 4(1), S.I. No. 662 of 2010.<\/p>\n<h4>Registration of persons directing private members\u2019 clubs.<\/h4>\n<p>109.\u2014 (1) A person who is a designated person pursuant to section 25(1)(h) shall register with the Minister in accordance with suchprocedures as may be prescribed or otherwise imposed by the Minister.<\/p>\n<p>(2) A person who is required to register under this section commits an offence if the person fails to do so and is liable\u2014<\/p>\n<p>(a) on summary conviction, to a fine not exceeding \u20ac5,000 or imprisonment for a term not exceeding 12 months (or both), or<\/p>\n<p>(b) on conviction on indictment to a fine or imprisonment for a term not exceeding 5 years (or both).<\/p>\n<p>(3) The following particulars shall be entered into a register established and maintained by the Minister for the purposes of this section:<\/p>\n<p>(a) the name of each designated person who registers under this section;<\/p>\n<p>(b) the name and address of the premises of the private members\u2019 club in relation to which the person is a designated person;<\/p>\n<p>(c) any prescribed information as may be reasonably required by the Minister for the purposes of this Act.<\/p>\n<p>(4) The register may be in book form, electronic form or such other form as the Minister may determine. The register may be maintained in an electronic, mechanical or other non-written form only if it is capable of being reproduced in a written form.<\/p>\n<p>(5) The Minister shall maintain the register at an office of the Department.<\/p>\n<p>(6) The Minister may prescribe particulars for the purposes of subsection (3)(c) only if satisfied that those particulars reasonably relate to the business or regulation of persons directing members\u2019 clubs as designated persons.<\/p>\n<p>F195[(7) The Minister may publish the register in written, electronic or other form and a member of the public is entitled to obtain a copy of the register or of an entry in the register on payment of such reasonable copying charges as may be prescribed (if any).<\/p>\n<p>(8) The particulars entered in the register pursuant to this section relating to a person who is a designated person pursuant to section 25(1)(h) may be removed from the register where that person ceases to be a designated person pursuant to that provision.]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F195<br \/>\nInserted (14.06.2013) by Criminal Justice Act 2013 (19\/2013), s. 18, S.I. No. 196 of 2013.<\/p>\n<p>F196[<\/p>\n<h4>Managers and beneficial owners of private members\u2019 clubs to hold certificates of fitness<\/h4>\n<p>109A.\u2014 (1) An individual who\u2014<\/p>\n<p>(a) effectively directs a private members\u2019 club at which gambling activities are carried on, or<\/p>\n<p>(b) is a beneficial owner of a private members\u2019 club at which gambling activities are carried on,<\/p>\n<p>shall hold a certificate of fitness and probity (referred to in this section and sections 109B, 109C, 109D and 109E as a &#8220;certificate of fitness&#8221;) granted by a Superintendent of the Garda S\u00edoch\u00e1na or, as the case may be, by the Minister.<\/p>\n<p>(2) An individual who fails to comply with subsection (1) commits an offence and is liable\u2014<\/p>\n<p>(a) on summary conviction, to a fine not exceeding \u20ac5,000 or imprisonment for a term not exceeding 12 months, or both, or<\/p>\n<p>(b) on conviction on indictment to a fine or imprisonment for a term not exceeding 5 years, or both.<\/p>\n<p>(3) Where on the date that is 6 months from the coming into force of this section an individual has applied for a certificate of fitness, this section shall not apply to that individual until such time as the application, and any appeal in relation to the application, has been finally determined.]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F196<br \/>\nInserted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 35, S.I. No. 486 of 2018. A fine of \u20ac5,000 translates into a class A fine, not greater than \u20ac5,000, as provided (4.01.2011) by Fines Act 2010 (8\/2010), ss. 3, 4(3) and table ref. no. 1, S.I. No. 662 of 2010.<\/p>\n<p>F197<br \/>\nSubstituted by Garda S\u00edoch\u00e1na (Functions and Operational Areas) Act 2022 (7\/2022), s. 4(1) and sch. 1 ref. no. 27, not commenced as of date of revision, subject to transitional provisions in ss. 13, 21.<\/p>\n<p>Modifications (not altering text):<\/p>\n<p>C14<br \/>\nProspective affecting provision: subs. (1) amended by Garda S\u00edoch\u00e1na (Functions and Operational Areas) Act 2022 (7\/2022), s. 4(1) and sch. 1 ref. no. 27, not commenced as of date of revision, subject to transitional provisions in ss. 13, 21.<\/p>\n<p>(1) &#8230;<\/p>\n<p>shall hold a certificate of fitness and probity (referred to in this section and sections 109B, 109C, 109D and 109E as a &#8220;certificate of fitness&#8221;) granted by F197[an Inspector] of the Garda S\u00edoch\u00e1na or, as the case may be, by the Minister.<\/p>\n<p>F198[<\/p>\n<h4>Application for certificate of fitness<\/h4>\n<p>109B.\u2014 (1) Upon compliance with subsection (2), an individual shall make an application for a certificate of fitness\u2014<\/p>\n<p>(a) where the individual ordinarily resides in the State\u2014<\/p>\n<p>(i) to the Superintendent of the Garda S\u00edoch\u00e1na for the district in which he or she ordinarily resides, or<\/p>\n<p>(ii) to the Superintendent of the Garda S\u00edoch\u00e1na for the district in which the private members\u2019 club concerned is located or is proposed to be located,<\/p>\n<p>or<\/p>\n<p>(b) where the individual ordinarily resides outside the State, to the Minister.<\/p>\n<p>(2) An individual intending to apply for a certificate of fitness under this section shall, not later than 14 days and not earlier than one month before making the application, publish in two daily newspapers circulating in the State, a notice in such form as may be prescribed, of his or her intention to make the application.<\/p>\n<p>(3) An application for a certificate of fitness under this section shall be in such form as may be prescribed.<\/p>\n<p>(4) The applicant for a certificate of fitness shall provide the Superintendent of the Garda S\u00edoch\u00e1na, or as the case may be, the Minister to whom the application concerned is made with all such information as he or she may reasonably require for the purposes of determining whether a relevant consideration referred to in section 109C exists.<\/p>\n<p>(5) A Superintendent of the Garda S\u00edoch\u00e1na, or as the case may be, the Minister to whom an application for a certificate of fitness is duly made under this section shall, not later than 56 days after receiving the application, either\u2014<\/p>\n<p>(a) grant the application and issue a certificate of fitness to the applicant, or<\/p>\n<p>(b) refuse the application.<\/p>\n<p>(6) A certificate of fitness under this section shall be in such form as may be prescribed.<\/p>\n<p>(7) An individual who, in applying for a certificate of fitness under this section, makes a statement or provides information to a Superintendent of the Garda S\u00edoch\u00e1na or, as the case may be, to the Minister, that he or she knows, or ought reasonably to know, is false or misleading in a material respect commits an offence and is liable\u2014<\/p>\n<p>(a) on summary conviction to a class A fine or imprisonment for a term not exceeding 6 months, or both, or<\/p>\n<p>(b) on conviction on indictment to a fine not exceeding \u20ac50,000 or imprisonment for a term not exceeding 2 years, or both.<\/p>\n<p>(8) A Superintendent of the Garda S\u00edoch\u00e1na shall, as soon as may be after making a decision in relation to an application for a certificate of fitness, notify the Minister in writing of that decision.]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F198<br \/>\nInserted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 35, S.I. No. 486 of 2018. A class A fine means a fine not greater than \u20ac5,000, as provided (4.01.2011) by Fines Act 2010 (8\/2010), ss. 3, 4(1), S.I. No. 662 of 2010.<\/p>\n<p>F199<br \/>\nSubstituted by Garda S\u00edoch\u00e1na (Functions and Operational Areas) Act 2022 (7\/2022), s. 4(1) and sch. 1 ref. no. 27, not commenced as of date of revision, subject to transitional provisions in ss. 13, 21.<\/p>\n<p>Modifications (not altering text):<\/p>\n<p>C15<br \/>\nProspective affecting provision: subss. (1)(a)(i), (ii), (4), (5), (7), (8) amended by Garda S\u00edoch\u00e1na (Functions and Operational Areas) Act 2022 (7\/2022), s. 4(1) and sch. 1 ref. no. 27, not commenced as of date of revision, subject to transitional provisions in ss. 13, 21.<\/p>\n<p>(1) &#8230;<\/p>\n<p>(a) where the individual ordinarily resides in the State\u2014<\/p>\n<p>(i) to F199[an Inspector of the Garda S\u00edoch\u00e1na in the Garda division] in which he or she ordinarily resides, or<\/p>\n<p>(ii) to F199[an Inspector of the Garda S\u00edoch\u00e1na in the Garda division] in which the private members\u2019 club concerned is located or is proposed to be located,<\/p>\n<p>&#8230;<\/p>\n<p>(4) The applicant for a certificate of fitness shall provide the F199[Inspector] of the Garda S\u00edoch\u00e1na, or as the case may be, the Minister to whom the application concerned is made with all such information as he or she may reasonably require for the purposes of determining whether a relevant consideration referred to in section 109C exists.<\/p>\n<p>(5) F199[An Inspector] of the Garda S\u00edoch\u00e1na, or as the case may be, the Minister to whom an application for a certificate of fitness is duly made under this section shall, not later than 56 days after receiving the application, either\u2014<\/p>\n<p>&#8230;<\/p>\n<p>(7) An individual who, in applying for a certificate of fitness under this section, makes a statement or provides information to F199[an Inspector] of the Garda S\u00edoch\u00e1na or, as the case may be, to the Minister, that he or she knows, or ought reasonably to know, is false or misleading in a material respect commits an offence and is liable\u2014<\/p>\n<p>&#8230;<\/p>\n<p>(8) F199[An Inspector] of the Garda S\u00edoch\u00e1na shall, as soon as may be after making a decision in relation to an application for a certificate of fitness, notify the Minister in writing of that decision.<\/p>\n<p>Editorial Notes:<\/p>\n<p>E48<br \/>\nPower pursuant to section exercised (1.06.2022) by Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (Section 109B) (Certificate of Fitness) Regulations 2022 (S.I. No. 272 of 2022).<\/p>\n<p>E49<br \/>\nThe section heading is taken from the amending section in the absence of one included in the amendment.<\/p>\n<p>F200[<\/p>\n<h4>Grounds of refusal to grant certificate of fitness<\/h4>\n<p>109C.\u2014 (1) A Superintendent of the Garda S\u00edoch\u00e1na or, as the case may be, the Minister shall not refuse an application for a certificate of fitness made in accordance with section 109B unless\u2014<\/p>\n<p>(a) a relevant consideration exists, or<\/p>\n<p>(b) he or she is not satisfied that the applicant has provided such information as he or she reasonably requires for the purposes of determining whether a relevant consideration exists.<\/p>\n<p>(2) For the purposes of subsection (1), a relevant consideration exists if\u2014<\/p>\n<p>(a) the applicant stands convicted of an offence under\u2014<\/p>\n<p>(i) an enactment relating to excise duty on betting,<\/p>\n<p>(ii) the Gaming and Lotteries Acts 1956 to 2013,<\/p>\n<p>(iii) section 1078 of the Taxes Consolidation Act 1997,<\/p>\n<p>(iv) the Criminal Justice (Theft and Fraud Offences) Act 2001, or<\/p>\n<p>(v) this Act,<\/p>\n<p>(b) the applicant stands convicted of an offence under the law of a place (other than the State)\u2014<\/p>\n<p>(i) consisting of an act or omission that, if committed in the State, would constitute an offence referred to in paragraph (a), or<\/p>\n<p>(ii) relating to the conduct of gambling,<\/p>\n<p>or<\/p>\n<p>(c) the applicant was previously refused a certificate of fitness and either\u2014<\/p>\n<p>(i) the applicant did not appeal the refusal, or<\/p>\n<p>(ii) on appeal to the District Court, the refusal was affirmed.<\/p>\n<p>(3) In this section, &#8220;enactment&#8221; means\u2014<\/p>\n<p>(a) an Act of the Oireachtas,<\/p>\n<p>(b) a statute that was in force in Saorst\u00e1t \u00c9ireann immediately before the date of the coming into operation of the Constitution and that continues in force by virtue of Article 50 of the Constitution,<\/p>\n<p>(c) an instrument made under\u2014<\/p>\n<p>(i) an Act of the Oireachtas, or<\/p>\n<p>(ii) a statute referred to in paragraph (b).]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F200<br \/>\nInserted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 35, S.I. No. 486 of 2018.<\/p>\n<p>F201<br \/>\nSubstituted by Garda S\u00edoch\u00e1na (Functions and Operational Areas) Act 2022 (7\/2022), s. 4(1) and sch. 1 ref. no. 27, not commenced as of date of revision, subject to transitional provisions in ss. 13, 21.<\/p>\n<p>Modifications (not altering text):<\/p>\n<p>C16<br \/>\nProspective affecting provision: subs. (1) amended by Garda S\u00edoch\u00e1na (Functions and Operational Areas) Act 2022 (7\/2022), s. 4(1) and sch. 1 ref. no. 27, not commenced as of date of revision, subject to transitional provisions in ss. 13, 21.<\/p>\n<p>(1) F201[An Inspector] of the Garda S\u00edoch\u00e1na or, as the case may be, the Minister shall not refuse an application for a certificate of fitness made in accordance with section 109B unless\u2014<\/p>\n<p>&#8230;<\/p>\n<p>Editorial Notes:<\/p>\n<p>E50<br \/>\nThe section heading is taken from the amending section in the absence of one included in the amendment.<\/p>\n<p>F202[<\/p>\n<h4>Duration of certificate of fitness<\/h4>\n<p>109D.\u2014 (1) A certificate of fitness shall remain in force until the expiration of 3 years after the date on which the certificate was issued.<\/p>\n<p>(2) If, before the expiration of a certificate of fitness, the individual to whom it was issued makes an application for a new certificate of fitness, the first-mentioned certificate of fitness shall remain in force\u2014<\/p>\n<p>(a) until the issue of the new certificate of fitness,<\/p>\n<p>(b) in circumstances where the application is refused by the Superintendent of the Garda S\u00edoch\u00e1na concerned or by the Minister and the individual does not make a request referred to in section 109E(1), until the expiration of the period within which the request may be made,<\/p>\n<p>(c) in circumstances where the application is refused by the Superintendent of the Garda S\u00edoch\u00e1na concerned or by the Minister and the individual makes a request referred to in section 109E(1) but does not bring an appeal under that section, until the expiration of the period specified in subsection (3) of that section, or<\/p>\n<p>(d) in circumstances where the application is refused by the Superintendent of the Garda S\u00edoch\u00e1na concerned or the Minister and the individual appeals the refusal in accordance with section 109E, until\u2014<\/p>\n<p>(i) the District Court affirms the refusal in accordance with that section, or<\/p>\n<p>(ii) the issue of a new certificate of fitness pursuant to a direction of the District Court under subsection (4)(b) of that section.]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F202<br \/>\nInserted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 35, S.I. No. 486 of 2018.<\/p>\n<p>F203<br \/>\nSubstituted by Garda S\u00edoch\u00e1na (Functions and Operational Areas) Act 2022 (7\/2022), s. 4(1) and sch. 1 ref. no. 27, not commenced as of date of revision, subject to transitional provisions in ss. 13, 21.<\/p>\n<p>Modifications (not altering text):<\/p>\n<p>C17<br \/>\nProspective affecting provision: subss. (2)(b), (c), (d) amended by Garda S\u00edoch\u00e1na (Functions and Operational Areas) Act 2022 (7\/2022), s. 4(1) and sch. 1 ref. no. 27, not commenced as of date of revision, subject to transitional provisions in ss. 13, 21.<\/p>\n<p>(2) &#8230;<\/p>\n<p>(b) in circumstances where the application is refused by the F203[Inspector] of the Garda S\u00edoch\u00e1na concerned or by the Minister and the individual does not make a request referred to in section 109E(1), until the expiration of the period within which the request may be made,<\/p>\n<p>(c) in circumstances where the application is refused by the F203[Inspector] of the Garda S\u00edoch\u00e1na concerned or by the Minister and the individual makes a request referred to in section 109E(1) but does not bring an appeal under that section, until the expiration of the period specified in subsection (3) of that section, or<\/p>\n<p>(d) in circumstances where the application is refused by the F203[Inspector] of the Garda S\u00edoch\u00e1na concerned or the Minister and the individual appeals the refusal in accordance with section 109E, until\u2014<\/p>\n<p>&#8230;<\/p>\n<p>Editorial Notes:<\/p>\n<p>E51<br \/>\nThe section heading is taken from the amending section in the absence of one included in the amendment.<\/p>\n<p>F204[<\/p>\n<h4>Appeal where application for certificate of fitness is refused<\/h4>\n<p>109E.\u2014 (1) If a Superintendent of the Garda S\u00edoch\u00e1na, or as the case may be, the Minister refuses an application for a certificate of fitness, he or she shall, on the request in writing of the applicant made not later than 14 days after the refusal, give the applicant a statement in writing of the reasons for the refusal.<\/p>\n<p>(2) A person to whom a certificate of fitness has been refused may, not later than 14 days after receiving a statement in writing under subsection (1), appeal the refusal to the District Court.<\/p>\n<p>(3) A person who brings an appeal under this section shall, in such manner and within such period as may be prescribed give notice of the appeal to the Superintendent of the Garda S\u00edoch\u00e1na concerned or, as the case may be, the Minister.<\/p>\n<p>(4) The District Court may, upon an appeal under this section, either\u2014<\/p>\n<p>(a) affirm the refusal, or<\/p>\n<p>(b) grant the appeal and direct the Superintendent of the Garda S\u00edoch\u00e1na concerned, or as the case may be, the Minister to issue a certificate of fitness to the appellant.<\/p>\n<p>(5) The Superintendent of the Garda S\u00edoch\u00e1na concerned or, as the case may be, the Minister shall comply with a direction of the District Court under this section not later than 3 days after the giving of the direction.<\/p>\n<p>(6) The respondent in an appeal under this section shall not be entitled to advance as a reason for opposing an appeal under this section a reason not specified in a statement of the reasons for a refusal given to the appellant pursuant to a request under subsection (1).<\/p>\n<p>(7) If the District Court affirms a refusal under subsection (4)(a), it may also make an order requiring the appellant to pay the costs incurred by the respondent in defending the appeal and may determine the amount of such costs.<\/p>\n<p>(8) There shall be no appeal to the Circuit Court from a decision of the District Court under this section.<\/p>\n<p>(9) An appeal under this section by a person ordinarily resident in the State shall be brought before a judge of the District Court assigned to the District Court district\u2014<\/p>\n<p>(a) in which he or she ordinarily resides, or<\/p>\n<p>(b) in which the private members\u2019 club concerned is located or is proposed to be located.<\/p>\n<p>(10) An appeal under this section by a person not ordinarily resident in the State shall be brought before a judge of the District Court assigned to the Dublin Metropolitan District.]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F204<br \/>\nInserted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 35, S.I. No. 486 of 2018.<\/p>\n<p>F205<br \/>\nSubstituted by Garda S\u00edoch\u00e1na (Functions and Operational Areas) Act 2022 (7\/2022), s. 4(1) and sch. 1 ref. no. 27, not commenced as of date of revision, subject to transitional provisions in ss. 13, 21.<\/p>\n<p>Modifications (not altering text):<\/p>\n<p>C18<br \/>\nProspective affecting provision: subss. (1), (3), (4)(b), (5) amended by Garda S\u00edoch\u00e1na (Functions and Operational Areas) Act 2022 (7\/2022), s. 4(1) and sch. 1 ref. no. 27, not commenced as of date of revision, subject to transitional provisions in ss. 13, 21.<\/p>\n<p>(1) If F205[an Inspector] of the Garda S\u00edoch\u00e1na, or as the case may be, the Minister refuses an application for a certificate of fitness, he or she shall, on the request in writing of the applicant made not later than 14 days after the refusal, give the applicant a statement in writing of the reasons for the refusal.<\/p>\n<p>&#8230;<\/p>\n<p>(3) A person who brings an appeal under this section shall, in such manner and within such period as may be prescribed give notice of the appeal to the F205[Inspector] of the Garda S\u00edoch\u00e1na concerned or, as the case may be, the Minister.<\/p>\n<p>(4) &#8230;<\/p>\n<p>(b) grant the appeal and direct the F205[Inspector] of the Garda S\u00edoch\u00e1na concerned, or as the case may be, the Minister to issue a certificate of fitness to the appellant.<\/p>\n<p>(5) The F205[Inspector] of the Garda S\u00edoch\u00e1na concerned or, as the case may be, the Minister shall comply with a direction of the District Court under this section not later than 3 days after the giving of the direction.<\/p>\n<p>Editorial Notes:<\/p>\n<p>E52<br \/>\nThe section heading is taken from the amending section in the absence of one included in the amendment.<\/p>\n<p>PART 5<\/p>\n<p>Miscellaneous<\/p>\n<h4>Service of documents.<\/h4>\n<p>110.\u2014 (1) A notice or other document that is required or permitted, under this Act, to be served on or given to a person shall be addressed to the person by name and may be served or given to the person in one of the following ways:<\/p>\n<p>(a) by delivering it to the person;<\/p>\n<p>(b) by leaving it at the address at which the person ordinarily resides or carries on business;<\/p>\n<p>(c) by sending it by post in a pre-paid registered letter to the address at which the person ordinarily resides or carries on business;<\/p>\n<p>(d) if an address for service has been furnished, by leaving it at, or sending it by post in a pre-paid registered letter to, that address;<\/p>\n<p>(e) in the case of a direction to an individual or body (whether incorporated or unincorporated) under Part 3 not to carry out any specified service or transaction at a branch or place of business of the body or individual, by leaving it at, or by sending it by post in a pre-paid registered letter to, the address of the branch or place of business (as the case may be);<\/p>\n<p>(f) if the person giving notice considers that notice should be given immediately and a fax machine is located at an address referred to in paragraph (b), (c), (d) or (e), by sending it by fax to that machine, but only if the sender\u2019s fax machine generates a message confirming successful transmission of the total number of pages of the notice.<\/p>\n<p>(2) For the purposes of this section\u2014<\/p>\n<p>(a) a company registered under the Companies Acts is taken to be ordinarily resident at its registered office, and<\/p>\n<p>(b) any body corporate other than a company registered under the Companies Acts or any unincorporated body is taken to be ordinarily resident at its principal office or place of business in the State.<\/p>\n<p>(3) Nothing in subsection (1)(e) prevents the serving or giving of a direction or other document for the purposes of Part 3 under any other provision of this section.<\/p>\n<p>(4) This section is without prejudice to any mode of service or of giving a notice or any other document provided for under any other enactment or rule of law.<\/p>\n<p>(5) This section does not apply in relation to the service of a notice on the Minister referred to in section 100 (2).<\/p>\n<h4>Offences \u2014 directors and others of bodies corporate and unincorporated bodies.<\/h4>\n<p>111.\u2014 Where an offence under this Act is committed by a body corporate or by a person purporting to act on behalf of a body corporate or on behalf of an unincorporated body of persons, and is proved to have been committed with the consent or connivance, or to be attributable to any wilful neglect, of a person who, when the offence is committed, is\u2014<\/p>\n<p>(a) a director, manager, secretary or other officer of the body, or a person purporting to act in that capacity, or<\/p>\n<p>(b) a member of the committee of management or other controlling authority of the body, or a person purporting to act in that capacity,<\/p>\n<p>that person is taken to have also committed the offence and may be proceeded against and punished accordingly.<\/p>\n<h4>Disclosure of information in good faith.<\/h4>\n<p>112.\u2014 (1) This section applies to the disclosure in good faith, to a member of the Garda S\u00edoch\u00e1na or to any person who is concerned in the investigation or prosecution of an offence of money laundering or terrorist financing, of\u2014<\/p>\n<p>(a) a suspicion that any property has been obtained in connection with any such offence, or derives from property so obtained, or<\/p>\n<p>(b) any matter on which such a suspicion is based.<\/p>\n<p>(2) A disclosure to which this section applies shall not be treated, for any purpose, as a breach of any restriction on the disclosure of information imposed by any other enactment or rule of law.<\/p>\n<h4>Amendment of Bail Act 1997.<\/h4>\n<p>113.\u2014 The Schedule to the Bail Act 1997 is amended by inserting the following paragraph after paragraph 34 (inserted by section 48 of the Criminal Justice (Miscellaneous Provisions) Act 2009):<\/p>\n<p>\u201cMoney Laundering.<\/p>\n<p>35. Any offence under Part 2 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010.\u201d.<\/p>\n<h4>Amendment of Central Bank Act 1942.<\/h4>\n<p>114.\u2014 (1) In this section, \u201cAct of 1942\u201d means the Central Bank Act 1942.<\/p>\n<p>(2) Section 33AK(5) (inserted by section 26 of the Central Bank and Financial Services Authority of Ireland Act 2003) of the Act of 1942 is amended by deleting paragraph (n).<\/p>\n<p>(3) The Act of 1942 is amended by inserting the following after section 33AN (inserted by section 10 of the Central Bank and Financial Services Authority of Ireland Act 2004):<\/p>\n<p>\u201cApplication of Part to credit unions.<\/p>\n<p>33ANA.\u2014 (1) This Part applies in relation to\u2014<\/p>\n<p>(a) the commission or suspected commission by a credit union of a contravention of\u2014<\/p>\n<p>(i) a provision of Part 4 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010,<\/p>\n<p>(ii) any direction given to the credit union under a provision of Part 4 of that Act,<\/p>\n<p>(iii) any condition or requirement imposed on the credit union under a provision of Part 4 of that Act or under any direction given to the credit union under a provision of that Part, or<\/p>\n<p>(iv) any obligation imposed on the credit union by this Part or imposed by the Regulatory Authority pursuant to a power exercised under this Part,<\/p>\n<p>and<\/p>\n<p>(b) participation, by a person concerned in the management of a credit union, in the commission by the credit union of such a contravention.<\/p>\n<p>(2) For those purposes\u2014<\/p>\n<p>(a) a reference in this Part to a regulated financial service provider includes a reference to a credit union,<\/p>\n<p>(b) a reference in this Part to a prescribed contravention includes a reference to a contravention, by a credit union, of a provision, direction, condition, requirement or obligation referred to in subsection (1), and<\/p>\n<p>(c) a reference in this Part to a person concerned in the management of a regulated financial service provider includes a reference to a person concerned in the management of a credit union.<\/p>\n<p>(3) Nothing in this section limits the application of this Part in relation to matters other than those referred to in subsection (1).<\/p>\n<p>(4) This section has effect notwithstanding anything to the contrary in section 184 of the Credit Union Act 1997.\u201d.<\/p>\n<p>(4) Schedule 2 (substituted by section 31 of the Central Bank and Financial Services Authority of Ireland Act 2003) to the Act of 1942 is amended in Part 1 by inserting the following at the end of the Part:<\/p>\n<p>\u201c<\/p>\n<p>No. __ of 2010<\/p>\n<p>Criminal Justice (Money Laundering and Terrorist Financing) Act 2010<\/p>\n<p>Part 4<\/p>\n<p>\u201d.<\/p>\n<p>F206[<\/p>\n<h4>Prescribed amounts under section 33AQ of Central Bank Act 1942 in respect of certain contraventions<\/h4>\n<p>114A.\u2014 (1) In this section &#8220;Act of 1942&#8221; means the Central Bank Act 1942 and &#8220;designated person&#8221; means a designated person within the meaning of Part 4.<\/p>\n<p>(2) Notwithstanding subsection (4) of section 33AQ of the Act of 1942, in the case of a contravention of Chapter 3, 4 or 6 of Part 4, or section 30B, 57, 57A, 58 or 59, by a designated person, the prescribed amount for the purpose of subsection (3)(c) of section 33AQ is\u2014<\/p>\n<p>(a) if the designated person is a body corporate or an unincorporated body, the greatest of\u2014<\/p>\n<p>(i) \u20ac10,000,000,<\/p>\n<p>(ii) twice the amount of any benefit derived by the person from the contravention (where that benefit can be determined), and<\/p>\n<p>(iii) an amount equal to 10 per cent of the turnover of the body for its last complete financial year before the finding is made,<\/p>\n<p>(b) if the designated person is a natural person\u2014<\/p>\n<p>(i) where the designated person is not a credit institution or financial institution, the greater of\u2014<\/p>\n<p>(I) \u20ac1,000,000, and<\/p>\n<p>(II) twice the amount of any benefit derived by the person from the contravention (where that benefit can be determined),<\/p>\n<p>(ii) where the designated person is a credit institution or financial institution, the greater of\u2014<\/p>\n<p>(I) \u20ac5,000,000, and<\/p>\n<p>(II) twice the amount of any benefit derived by the person from the contravention (where that benefit can be determined).<\/p>\n<p>(3) Notwithstanding subsection (6) of section 33AQ of the Act of 1942, in the case of a contravention of Chapter 3, 4 or 6 of Part 4, or section 30B, 57, 57A, 58 or 59, by a designated person, the prescribed amount for the purpose of subsection (5)(b) of section 33AQ is\u2014<\/p>\n<p>(a) where the designated person is not a credit institution or financial institution, the greater of\u2014<\/p>\n<p>(i) \u20ac1,000,000, and<\/p>\n<p>(ii) twice the amount of any benefit derived by the person from the contravention (where that benefit can be determined),<\/p>\n<p>(b) where the designated person is a credit institution or financial institution, the greater of\u2014<\/p>\n<p>(i) \u20ac5,000,000, and<\/p>\n<p>(ii) twice the amount of any benefit derived by the person from the contravention (where that benefit can be determined).<\/p>\n<p>(4) For the purposes of subsection (2)(a)(iii), &#8220;turnover of the body&#8221; means total annual turnover of the designated person according to the latest available accounts approved by the management body of the designated person or, where the designated person is a parent undertaking or a subsidiary of a parent undertaking which is required to prepare consolidated financial accounts in accordance with Article 22 of Directive 2013\/34\/EU12, the total annual turnover or the corresponding type of income in accordance with the relevant accounting Directives according to the last available consolidated accounts approved by the management body of the ultimate parent undertaking.]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F206<br \/>\nInserted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 36, S.I. No. 486 of 2018.<\/p>\n<p>Editorial Notes:<\/p>\n<p>E53<br \/>\nThe section heading is taken from the amending section in the absence of one included in the amendment.<\/p>\n<p>12 OJ No. L 182, 29.6.2013, p. 19<\/p>\n<h4>Amendment of Courts (Supplemental Provisions) Act 1961.<\/h4>\n<p>115.\u2014 Section 32A(1) of the Courts (Supplemental Provisions) Act 1961 (inserted by section 180 of the Criminal Justice Act 2006) is amended as follows:<\/p>\n<p>(a) in paragraph (d) (inserted by section 18 of the Criminal Justice (Surveillance) Act 2009) by substituting \u201cCriminal Justice (Surveillance) Act 2009;\u201d for \u201cCriminal Justice (Surveillance) Act 2009.\u201d;<\/p>\n<p>(b) by inserting the following paragraph after paragraph (d):<\/p>\n<p>\u201c(e) any of the following powers under Part 3 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010:<\/p>\n<p>(i) the power to order a person not to carry out any service or transaction;<\/p>\n<p>(ii) the power to revoke an order referred to in subparagraph (i);<\/p>\n<p>(iii) the power to make an order in relation to property if considered essential to do so for the purpose of enabling\u2014<\/p>\n<p>(I) the person who applies for the order to discharge the reasonable living and other necessary expenses incurred or to be incurred in respect of the person or the person\u2019s dependants, or<\/p>\n<p>(II) the person who applies for the order to carry on a business, trade, profession or other occupation to which any of the property relates.\u201d.<\/p>\n<h4>Consequential amendment of Central Bank Act 1997.<\/h4>\n<p>116.\u2014 Section 28 (substituted by section 27 of the Central Bank and Financial Services Authority of Ireland Act 2004) of the Central Bank Act 1997 is amended, in the definitions of \u201cbureau de change business\u201d and \u201cmoney transmission service\u201d, by substituting the following for paragraphs (a) and (b) of those definitions:<\/p>\n<p>\u201c(a) by a person or body that is required to be licensed, registered or otherwise authorised by the Bank under a designated enactment (other than under this Part) or designated statutory instrument, or\u201d.<\/p>\n<h4>Consequential amendment of Criminal Justice Act 1994.<\/h4>\n<p>117.\u2014 (1) In this section, \u201cAct of 1994\u201d means the Criminal Justice Act 1994.<\/p>\n<p>(2) Section 3(1) of the Act of 1994 is amended in the definition of \u201cdrug trafficking\u201d by substituting the following for paragraph (d):<\/p>\n<p>\u201c(d) engaging in any conduct (whether or not in the State) in relation to property obtained, whether directly or indirectly, from anything done in relation to a controlled drug, being conduct that\u2014<\/p>\n<p>(i) is an offence under Part 2 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (\u201cPart 2 of the Act of 2010\u201d) or would have been an offence under that Part if the Part had been in operation at the time when the conduct was engaged in, or<\/p>\n<p>(ii) in the case of conduct in a place outside of the State, other than conduct referred to in subparagraph (i)\u2014<\/p>\n<p>(I) would be an offence under Part 2 of the Act of 2010 if done in corresponding circumstances in the State, or<\/p>\n<p>(II) would have been an offence under that Part if done in corresponding circumstances in the State and if the Part had been in operation at the time when the conduct was engaged in, or\u201d.<\/p>\n<p>(3) Section 3(1) of the Act of 1994 is amended in the definition of \u201cdrug trafficking offence\u201d by substituting the following for paragraph (e):<\/p>\n<p>\u201c(e) an offence under Part 2 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010, or under section 31 of this Act (as in force before the commencement of that Part), in relation to the proceeds of drug trafficking,\u201d.<\/p>\n<h4>Consequential amendment of Criminal Justice (Mutual Assistance) Act 2008.<\/h4>\n<p>118.\u2014 Section 94(3) of the Criminal Justice (Mutual Assistance) Act 2008 is amended by substituting \u201c Part 2 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010\u201d for \u201csection 31 of the Criminal Justice Act 1994, as substituted by section 21 of the Criminal Justice (Theft and Fraud Offences) Act 2001\u201d.<\/p>\n<h4>Consequential amendment of Criminal Justice (Theft and Fraud Offences) Act 2001.<\/h4>\n<p>119.\u2014 Section 40(1) of the Criminal Justice (Theft and Fraud Offences) Act 2001 is amended by substituting the following for the definition of \u201cmoney laundering\u201d:<\/p>\n<p>\u201c\u2018money laundering\u2019 means an offence under Part 2 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010;\u201d.<\/p>\n<h4>Consequential amendment of Investor Compensation Act 1998.<\/h4>\n<p>120.\u2014 (1) In this section, \u201cAct of 1998\u201d means the Investor Compensation Act 1998.<\/p>\n<p>(2) Section 30(1) of the Act of 1998 is amended in the definition of \u201cnet loss\u201d by substituting the following for subparagraph (iii):<\/p>\n<p>\u201c(iii) money or investment instruments arising out of transactions in respect of which an offence has been committed under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (\u201c Act of 2010 \u201d),<\/p>\n<p>(iv) money or investment instruments arising out of transactions in respect of which an offence has been committed under a provision of Part IV of the Criminal Justice Act 1994 prior to the repeal of that provision by the Act of 2010,<\/p>\n<p>(v) money or investment instruments arising out of transactions in respect of which an offence has been committed under a provision of section 57 or 58 of the Criminal Justice Act 1994 prior to the repeal of that provision by the Act of 2010, or<\/p>\n<p>(vi) money or investment instruments arising out of transactions in respect of which there has been a criminal conviction, at any time, for money laundering, within the meaning of 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 12.\u201d.<\/p>\n<p>(3) Section 35 of the Act of 1998 is amended by substituting the following for subsection (3):<\/p>\n<p>\u201c(3) Notwithstanding the time limits provided for in subsections (1) and (2), the competent authority may direct the Company or a compensation scheme approved under section 25, as appropriate, to suspend any payment to an eligible investor, where the investor has been charged with any of the following offences, pending the judgment of a court in respect of the charge:<\/p>\n<p>(a) an offence under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (\u201c Act of 2010\u201d);<\/p>\n<p>(b) an offence committed, prior to the repeal by the Act of 2010 of any of the following provisions of the Criminal Justice Act 1994, under that provision:<\/p>\n<p>(i) a provision of Part IV;<\/p>\n<p>(ii) section 57;<\/p>\n<p>(iii) section 58;<\/p>\n<p>(c) an offence otherwise arising out of, or relating to, money laundering, within the meaning of 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 13.\u201d.<\/p>\n<p>12 OJ L 309, 25.11.2005, p.15<\/p>\n<p>13 OJ L 309, 25.11.2005, p.15<\/p>\n<h4>Consequential amendment of Taxes Consolidation Act 1997.<\/h4>\n<p>121.\u2014 (1) In this section, \u201cAct of 1997\u201d means the Taxes Consolidation Act 1997.<\/p>\n<p>(2) Section 898F (substituted by section 90 of, and Schedule 4 to, the Finance Act 2004) of the Act of 1997 is amended as follows:<\/p>\n<p>(a) in subsection (3) by substituting \u201cwhich is acceptable for the purposes of Chapter 3 of Part 4 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010\u201d for \u201cit acquires by virtue of section 32 of the Criminal Justice Act 1994\u201d;<\/p>\n<p>(b) in subsection (4) by substituting \u201cwhich is acceptable for the purposes of Chapter 3 of Part 4 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010\u201d for \u201cit acquires by virtue of section 32 of the Criminal Justice Act 1994\u201d;<\/p>\n<p>(c) in subsection (5)(a) (substituted by section 124(1)(a) of the Finance Act 2006) by inserting \u201c(or has done so, before the relevant commencement date, in accordance with this section as in force before that date)\u201d after \u201cin accordance with this section\u201d;<\/p>\n<p>(d) by inserting the following paragraph after subsection (6)(a):<\/p>\n<p>\u201c(aa) A paying agent who\u2014<\/p>\n<p>(i) before the relevant commencement date, established the identity and residence of an individual under this section as in force before that date, and<\/p>\n<p>(ii) was required, immediately before the relevant commencement date and as a result of paragraph (a), to continue to treat that individual as so identified and so resident,<\/p>\n<p>shall continue to treat that individual as so identified and so resident until such time as the paying agent is in possession, or aware, of information which can reasonably be taken to indicate that the individual has been incorrectly identified or is not so resident or has changed his or her residence.\u201d;<\/p>\n<p>(e) in subsection (6)(b) by inserting \u201cor (aa)\u201d after \u201cparagraph (a)\u201d;<\/p>\n<p>(f) in subsection (7) by inserting \u201c(or as established, before the relevant commencement date, in accordance with this section as in force before that date)\u201d after \u201cthis section\u201d;<\/p>\n<p>(g) by inserting the following subsection after subsection (7):<\/p>\n<p>\u201c(8) In this section, \u2018relevant commencement date\u2019 means the date on which section 121(2) of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 comes into operation.\u201d.<\/p>\n<p>(3) Section 898G (substituted by section 90 of, and Schedule 4 to, the Finance Act 2004) of the Act of 1997 is amended as follows:<\/p>\n<p>(a) in subsection (2) by substituting \u201c Chapter 3 of Part 4 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010\u201d for \u201csection 32 of the Criminal Justice Act 1994\u201d;<\/p>\n<p>(b) in subsection (4)(b) by substituting \u201c Chapter 3 of Part 4 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010\u201d for \u201csection 32 of the Criminal Justice Act 1994\u201d;<\/p>\n<p>(c) in subsection (5)(b)(iii) by substituting \u201c Chapter 3 of Part 4 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010\u201d for \u201csection 32 of the Criminal Justice Act 1994\u201d;<\/p>\n<p>(d) in subsection (6)(a) (substituted by section 124(1)(b) of the Finance Act 2006) by inserting \u201c(or has done so, before the relevant commencement date, in accordance with this section as in force before that date)\u201d after \u201cin accordance with this section\u201d;<\/p>\n<p>(e) by inserting the following paragraph after subsection (8)(a):<\/p>\n<p>\u201c(aa) A paying agent who\u2014<\/p>\n<p>(i) before the relevant commencement date, established the identity and residence of an individual under this section as in force before that date, and<\/p>\n<p>(ii) was required, immediately before the relevant commencement date and as a result of paragraph (a), to continue to treat that individual as so identified and so resident,<\/p>\n<p>shall continue to treat that individual as so identified and so resident until such time as the paying agent is in possession, or aware, of information which can reasonably be taken to indicate that the individual has been incorrectly identified or is not so resident or has changed his or her residence.\u201d;<\/p>\n<p>(f) in subsection (8)(b) by inserting \u201cor (aa)\u201d after \u201cparagraph (a)\u201d;<\/p>\n<p>(g) in subsection (9) by inserting \u201c(or as established, before the relevant commencement date, in accordance with this section as in force before that date)\u201d after \u201cthis section\u201d;<\/p>\n<p>(h) by inserting the following subsection after subsection (9):<\/p>\n<p>\u201c(10) In this section, \u2018 relevant commencement date\u2019 means the date on which section 121 (3) of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 comes into operation.\u201d.<\/p>\n<p>Consequential amendment of Taxi Regulation Act 2003.<\/p>\n<p>122.\u2014 Section 36(1)(f) of the Taxi Regulation Act 2003 is amended by substituting \u201cPart 2 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010\u201d for \u201cPart IV of the Criminal Justice Act 1994\u201d.<\/p>\n<p>SCHEDULE 1<\/p>\n<p>REVOCATIONS OF STATUTORY INSTRUMENTS<\/p>\n<p>Section 4.<\/p>\n<p>Title of Instrument<\/p>\n<p>(1)<\/p>\n<p>Number and Year<\/p>\n<p>(2)<\/p>\n<p>Extent of Revocation<\/p>\n<p>(3)<\/p>\n<p>Criminal Justice Act 1994 (Section 32(10)(a)) Regulations 1995<\/p>\n<p>S.I. No. 104 of 1995<\/p>\n<p>The whole Regulations.<\/p>\n<p>Criminal Justice Act 1994 (Section 32(10)(b)) Regulations 1995<\/p>\n<p>S.I. No. 105 of 1995<\/p>\n<p>The whole Regulations.<\/p>\n<p>Criminal Justice Act 1994 (Section 32(10)(d)) Regulations 1995<\/p>\n<p>S.I. No. 106 of 1995<\/p>\n<p>The whole Regulations.<\/p>\n<p>Criminal Justice Act 1994 (Section 32(10)(b)) (No. 2) Regulations 1995<\/p>\n<p>S.I. No. 324 of 1995<\/p>\n<p>The whole Regulations.<\/p>\n<p>Criminal Justice Act 1994 (Section 32(10)(a)) Regulations 2003<\/p>\n<p>S.I. No. 216 of 2003<\/p>\n<p>The whole Regulations.<\/p>\n<p>Criminal Justice Act 1994 (Section 32) Regulations 2003<\/p>\n<p>S.I. No. 242 of 2003<\/p>\n<p>The whole Regulations.<\/p>\n<p>Criminal Justice Act 1994 (Section 32) (Amendment) Regulations 2003<\/p>\n<p>S.I. No. 416 of 2003<\/p>\n<p>The whole Regulations.<\/p>\n<p>Criminal Justice Act 1994 (Section 32) (Prescribed States or Countries) Regulations 2003<\/p>\n<p>S.I. No. 618 of 2003<\/p>\n<p>The whole Regulations.<\/p>\n<p>Criminal Justice Act 1994 (Section 32) (Prescribed Activities) Regulations 2004<\/p>\n<p>S.I. No. 3 of 2004<\/p>\n<p>The whole Regulations.<\/p>\n<p>Criminal Justice Act 1994 (Section 32) (Prescribed States or Countries) Regulations 2004<\/p>\n<p>S.I. No. 569 of 2004<\/p>\n<p>The whole Regulations.<\/p>\n<p>F207[SCHEDULE 2<\/p>\n<p>Annex I to Directive 2013\/36\/EU of the European Parliament and of the Council of 26 June 201313 on Access to the Activity of Credit Institutions and the Prudential Supervision of Credit Institutions and Investment Firms, Amending Directive 2002\/87\/EC and repealing Directives 2006\/48\/EC and 2006\/49\/EC<\/p>\n<p>Section 24.<\/p>\n<h4>LIST OF ACTIVITIES SUBJECT TO MUTUAL RECOGNITION<\/h4>\n<p>1. Taking deposits and other repayable funds.<\/p>\n<p>2. Lending including inter alia: consumer credit, credit agreements relating to immovable property, factoring, with or without recourse, financing of commercial transactions (including forfeiting).<\/p>\n<p>3. Financial leasing.<\/p>\n<p>4. Payment services as defined in Article 4(3) of Directive 2007\/64\/EC of the European Parliament and of the Council of 13 November 200714 on payment services in the internal market amending Directives 97\/7\/EC, 2002\/65\/EC, 2005\/60\/EC and 2006\/48\/EC and repealing Directive 97\/5\/EC.<\/p>\n<p>5. Issuing and administering other means of payment (e.g. travellers\u2019 cheques and bankers\u2019 drafts) insofar as such activity is not covered by point 4.<\/p>\n<p>6. Guarantees and commitments.<\/p>\n<p>7. Trading for own account or for account of customers in any of the following:<\/p>\n<p>(a) money market instruments (cheques, bills, certificates of deposit, etc.);<\/p>\n<p>(b) foreign exchange;<\/p>\n<p>(c) financial futures and options;<\/p>\n<p>(d) exchange and interest-rate instruments;<\/p>\n<p>(e) transferable securities.<\/p>\n<p>8. Participation in securities issues and the provision of services relating to such issues.<\/p>\n<p>9. Advice to undertakings on capital structure, industrial strategy and related questions and advice as well as services relating to mergers and the purchase of undertakings.<\/p>\n<p>10. Money broking.<\/p>\n<p>11. Portfolio management and advice.<\/p>\n<p>12. Safekeeping and administration of securities.<\/p>\n<p>13. Credit reference services.<\/p>\n<p>14. Safe custody services.<\/p>\n<p>15. Issuing electronic money.<\/p>\n<p>The services and activities provided for in Sections A and B of Annex I to Directive 2004\/39\/EC of the European Parliament and of the Council of 21 April 200415 on markets in financial instruments, when referring to the financial instruments provided for in Section C of Annex I of that Directive, are subject to mutual recognition in accordance with Directive 2013\/36\/EU of the European Parliament and of the Council of 26 June 201316.]<\/p>\n<p>Annotations<\/p>\n<p>Amendments:<\/p>\n<p>F207<br \/>\nSubstituted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26\/2018), s. 37, S.I. No. 486 of 2018.<\/p>\n<p>13 OJ No. L 176, 27.6.2013, p. 338<\/p>\n<p>14 OJ No. L 319, 5.12.2007, p. 1<\/p>\n<p>15 OJ No. L 145, 30.4.2004, p. 1<\/p>\n<p>16 OJ No. L 176, 27.6.2013, p. 338<\/p>\n<p>S.I. No. 347\/2012 &#8211;<\/p>\n<h2>Criminal Justice (Money Laundering and Terrorist Financing) (Section 31) Order 2012.<\/h2>\n<p>Notice of the making of this Statutory Instrument was published in<\/p>\n<p>\u201cIris Oifigi\u00fail\u201d of 21st September, 2012.<\/p>\n<p>I, ALAN SHATTER, Minister for Justice and Equality, in exercise of the powers conferred on me by section 31 (1) of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (No. 6 of 2010), (as adapted by the Justice and Law Reform (Alteration of Name of Department and Title of Minister) Order 2011 ( S.I. No. 138 of 2011 )), after consultation with the Minister for Finance, hereby order as follows:<\/p>\n<p>1. This Order may be cited as the Criminal Justice (Money Laundering and Terrorist Financing) (Section 31) Order 2012.<\/p>\n<p>2. This Order shall come into operation on the 30th day of September 2012.<\/p>\n<p>3. The places specified in the Schedule are designated for the purposes of section 31 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (No. 6 of 2010).<\/p>\n<p>4. The Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (Section 31) Order 2010 ( S.I. No. 343 of 2010 ) is revoked.<\/p>\n<p>SCHEDULE<\/p>\n<p>Australia<\/p>\n<p>Brazil<\/p>\n<p>Canada<\/p>\n<p>Hong Kong<\/p>\n<p>Iceland<\/p>\n<p>India<\/p>\n<p>Japan<\/p>\n<p>Liechtenstein<\/p>\n<p>Mexico<\/p>\n<p>Norway<\/p>\n<p>South Korea<\/p>\n<p>Singapore<\/p>\n<p>Switzerland<\/p>\n<p>South Africa<\/p>\n<p>The United States of America<\/p>\n<p>The Channel Islands and the Isle of Man<\/p>\n<p>The Dutch overseas territories of Netherlands Aruba, Curacao, Sint Maarten, Bonaire, Sint Eustatius and Saba<\/p>\n<p>The French overseas territories of Mayotte, New Caledonia, French Polynesia, Saint Pierre and Miquelon and Wallis and Futuna<\/p>\n<p>\/images\/ls<\/p>\n<p>GIVEN under my Official Seal,<\/p>\n<p>12 September 2012.<\/p>\n<p>ALAN SHATTER,<\/p>\n<p>Minister for Justice and Equality.<\/p>\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-20103\" data-postid=\"20103\" class=\"themify_builder_content themify_builder_content-20103 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->\n","protected":false},"excerpt":{"rendered":"<p>Money Laundering Money-laundering is concealing the origin of money representing the proceeds of crime.\u00a0 It is \u00a0a method by which proceeds of crime are legitimised and concealed. Since the mid-1990s, legislation, most of which has derived from European Union, has been enacted with the purpose of preventing money-laundering. \u00a0The September 11th 2001 attacks, has led [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[291,73],"tags":[],"_links":{"self":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/20103"}],"collection":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/comments?post=20103"}],"version-history":[{"count":20,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/20103\/revisions"}],"predecessor-version":[{"id":34108,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/20103\/revisions\/34108"}],"wp:attachment":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/media?parent=20103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/categories?post=20103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/tags?post=20103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}