Skip to content

Section 12A

Prescription of additional financial institutions

of Anti-Money Laundering, Anti-Terrorism Financing, Anti-Restricted Activity Financing and Proceeeds of Unlawful Activities Act 2001

ActIn forceProvision 14 of 143
Section 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).