Anti-Money Laundering and Anti-Terrorism Financing (Amendment) Act 2014 · s 13

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s 13New section 12a

The principal Act is amended by inserting after section 12

the following section:

“Prescription of additional financial institutions 12a. The Minister of Finance may, on the recommendation of the competent authority, by order published in the Gazette, prescribe a person that is carrying on a financial business that is regulated or supervised by or subject to the oversight of a relevant regulatory or supervisory authority pursuant to the laws enforced by such regulatory or supervisory authority to be a financial institution for the purposes of the definition of “financial institution” under subsection 3(1).”.

Anti-Money Laundering and Anti-Terrorism

Financing (Amendment)