Financial Intelligence Centre Amendment Act 11 of 2008

The Financial Intelligence Centre Amendment Act 11 of 2008 aims:

• to amend the Financial Intelligence Centre Act, 2001, so as:
  • to define or further define certain words and expressions;
  • to clarify the application of the Act in relation to other laws;
  • to extend the objectives and functions of the Centre;
  • to change the name of the Money Laundering Advisory Council;
  • to clarify certain provisions;
  • to update references to legislation;
  • to provide for the sharing of information by the Centre and supervisory bodies;
  • to provide for the issuance of directives by the Centre and supervisory bodies;
  • to provide for the registration of accountable and reporting institutions;
  • to clarify the roles and responsibilities of supervisory bodies;
  • to provide for written arrangements relating
  • to the respective roles and responsibilities of the Centre and supervisory bodies;
  • to authorise the Centre and supervisory bodies to conduct inspections;
  • to regulate certain applications to court;
  • to provide for administrative sanctions that may be imposed by the Centre and supervisory bodies;
  • to establish an appeal board to hear appeals against decisions of the Centre or supervisory bodies;
  • to make further provision for offences; and
• to provide for matters connected therewith.

Commencement

1 December 2010 (Gazette 33781 of 26 November 2010)