Section 17

in subsection (3), by inserting after the words “commonly known, the reporting institution” the words “, or the director, officer or employee of the reporting institution”;

and

by inserting after subsection (5) the following subsections:

“(5a)  For the purposes of subsections (1), (2) and (3), the competent authority may issue any directions, instruction, guideline, circular, standard, notice, specification or requirement to, or impose any condition on, a reporting institution, or the director, officer or employee of the reporting institution on the opening of account or conducting business relationship, transaction or activity in fictitious, false or incorrect name.

The reporting institution, or the director, officer or employee of the reporting institution shall comply with the directions, instruction, guideline, circular, standard, notice, specification or requirement issued, or the condition imposed under subsection (5a).”.

Amendment of section 19