83. Power to issue directions, etc.

In addition to and not in derogation of the power of the competent authority provided under this Act, the competent authority may, upon consultation with the relevant regulatory or supervisory authority, 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 as are necessary or expedient to give full effect to or for carrying out the provisions of this Act and in particular for the detection or prevention of money laundering, terrorism financing and restricted activity financing.

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 (1).

Any reporting institution which, or the director, officer or employee of the reporting institution who, contravenes subsection (2)