Section 4

by substituting for the definition of “unlawful activity”

the following definition:

‘ “unlawful activity” means—

any activity which constitutes any serious offence or any foreign serious offence; or

any activity which is of such a nature, or occurs in such circumstances, that it results in or leads to the commission of any serious offence or any foreign serious offence, regardless whether such activity, wholly or partly, takes place within or outside Malaysia;’;

in the definition of “Bank Negara Malaysia” by substituting for the words “Central Bank of Malaysia Act 1958

[Act 519]” the words “Central Bank of Malaysia Act 2009 [Act 701]”;

Anti-Money Laundering and Anti-Terrorism

Financing (Amendment)

by substituting for the definition of “proceeds of an unlawful activity” the following definition:

‘ “proceeds of an unlawful activity” means any property, or any economic advantage or economic gain from such property, within or outside Malaysia—

which is wholly or partly—

derived or obtained, directly or indirectly, by any person from any unlawful activity;

which, wholly or partly, due to any circumstances such as its nature, value, location or place of discovery, or to the time, manner or place of its acquisition, or the person from whom it was acquired, or its proximity to other property referred to in subparagraph (a)(i),

by substituting for the definition of “property” the following definition:

‘ “property” means –

assets of every kind, whether corporeal or incorporeal, moveable or immovable, tangible or intangible, however acquired; or

legal documents or instruments in any form, including electronic or digital, evidencing title to, or interest in, such assets, including currency, bank credits, deposits and other financial resources, traveller’s cheques, bank cheques, money orders, capital market products, drafts and letters of credit, whether situated within or outside Malaysia, and includes a legal or equitable interest, whether full or partial, in any such property;’;

by substituting for the definition of “financial institution”

the following definition:

‘ “financial institution” means –

a licensed bank, licensed insurer and investment bank under the Financial Services Act 2013

[Act 758];

a licensed international Islamic bank, licensed international takaful operator, licensed Islamic bank and licensed takaful operator under the Islamic Financial Services Act 2013

[Act 759];

a prescribed institution under the Development

Financial Institutions Act 2002 [Act 618];

a licensee under the Money Services Business

Act 2011 [Act 731];

a person licensed or registered under the

Capital Markets and Services Act 2007

[Act 671];

the central depository established under the

Securities Industry (Central Depositories)

Act 1991 [Act 453];

a bank licensee, an insurance licensee, a securities licensee and any entity licensed or registered under the Labuan Financial Services and Securities Act 2010 [Act 704];

an Islamic bank licensee, a takaful licensee, an Islamic securities licensee and any entity licensed or registered under the Labuan Islamic

Financial Services and Securities Act 2010

[Act 705]; and

a person prescribed by the Minister of Finance under section 12a;’;

by deleting the definition of “offshore financial institution”;

Anti-Money Laundering and Anti-Terrorism

Financing (Amendment)

by inserting after the definition of “reporting institution”

the following definition:

‘ “conveyance” includes any vessel, train, motor vehicle, aircraft and any other means of transport by which persons or goods can be carried;’;

by inserting after the definition of “terrorism financing offence” the following definition:

‘ “money laundering offence” means an offence under subsection 4(1);’;

by deleting the definition of “client”;

by substituting for the definition of “Labuan Offshore

Financial Services Authority” the following definition:

‘ “Labuan Financial Services Authority” means the Authority established under section 3 of the

Labuan Financial Services Authority Act 1996

[Act 545];’;

by inserting after the definition of “foreign State” the following definition:

‘ “customer” includes a client;’;

by deleting the definition of “money laundering”;

by inserting after the definition of “controller” the following definitions:

‘ “instrumentalities of an offence” means—

any thing which is used in, or in connection with, the commission of any unlawful activity;

or

any property which is wholly or partly used in, or in connection with, the commission of any unlawful activity, whether the thing or property is situated within or outside Malaysia;

“business” means—

any business registered under any written law providing for the registration of businesses;

a corporation incorporated or registered under the Companies Act 1965 [Act 125] and an associate of that corporation; or

any venture or concern in any trade, commerce, profession, vocation or any other similar activity, whether or not it is carried on for a pecuniary gain or profit, and whether or not conducted on a regular, repetitive or continuous basis, and includes all assets derived from or used in or for the purpose of carrying on such business activity, and all interests, rights and liabilities arising from such business activity;’;

by inserting after the definition of “premises” the following definition:

‘ “capital market products” has the same meaning as in the Capital Markets and Services Act 2007;’;

and

by inserting after the definition of “Securities Commission”

the following definition:

‘ “diminished in value”, in relation to any property, means the whole or part of the property being expended, utilised, destroyed, or being subjected to any dealing, process or other act, so that it ceases to exist, or is reduced in value or size, or is altered in character;’.

Substitution of section 4