Section 25

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

ActIn forceProvision 25 of 143

Section 25

(1)

For the purposes of monitoring a reporting institution’s compliance with this Part, the competent authority may authorize an examiner to examine—

(a)

any of the reporting institution’s records or reports that relate to its obligations under this Part, which are kept at, or accessible from, the reporting institution’s premises;

and

(b)

any system used by the reporting institution at its premises for keeping those records or reports.

(2)

In carrying out the examination under subsection (1), the examiner may—

(a)

ask any question relating to any record, system or report of a reporting institution; and

(b)

make any note or take any copy of the whole or part of any business transaction of the reporting institution.

Read in full context — Anti-Money Laundering, Anti-Terrorism Financing, Anti-Restricted Activity Financing and Proceeeds of Unlawful Activities Act 2001 →