Criminal Justice (Money Laundering and Terrorist Financing) Act 2010

108H. F230[Provision of information by Garda Síochána as to whether or not person is fit and proper person

108H.— (1) The Bank may request the Commissioner of the Garda Síochána to provide any information that is required to assist the Bank in determining, for the purposes of sections 108B to 108I, whether or not any of the following persons is a fit and proper person:

• (a) the person who proposes to carry on or carries on, as the case may be, the business of a cheque cashing office;

• (b) in a case in which the person referred to in paragraph (a) is a body corporate or partnership, any principal officer of the body corporate or partnership (as the case may be);

• (c) in a case in which there is a beneficial owner of the person referred to in paragraph (a), the beneficial owner.

• (2) Notwithstanding any other enactment or rule of law, the Commissioner of the Garda Síochána shall provide the Bank with information in accordance with a request of the Bank under subsection (1).]

108I. F231[Persons registered to retain certain records

108I.— (1) A person registered shall—

• (a) retain at an office or other premises in the State such records as may be specified by the Bank, and

• (b) notify the Bank in writing of the address of any office or other premises where those records are retained.

• (2) The requirement imposed by subsection (1) is in addition to, and not in substitution for, any other requirements imposed under any other enactment or rule of law with respect to the retention of records by the person registered.

• (3) The person registered shall retain the records referred to in subsection (1) for a period of not less than 6 years after—

• (a) in the case of a record made in relation to a customer of the person registered, the last dealing with the customer, or

• (b) in any other case, the record is made.

• (4) The person registered may keep the records referred to in subsection (1) wholly or partly in an electronic, mechanical or other non-written form only if they are capable of being reproduced in a written form.

• (5) The obligations that are imposed by subsections (1) and (3) on a person registered continue to apply to a person who has been registered under section 108B, but has ceased to be so registered or to carry on business as a cheque cashing office.

• (6) Where the person registered is a body corporate, the requirement to retain any record under this section applies to any body corporate that is a successor to, or a continuation of, the person registered.

• (7) A person who fails to comply with this section commits an offence and is liable—

• (a) on summary conviction, to a class A fine or imprisonment for a term not exceeding 12 months (or both), or

• (b) on conviction on indictment, to a fine not exceeding €500,000 or imprisonment for a term not exceeding 3 years (or both).]

109. Registration of persons directing private members’ clubs.

109.— (1) A person who is a designated person pursuant to section 25(1)(h) shall register with the Minister in accordance with suchprocedures as may be prescribed or otherwise imposed by the Minister.

• (2) A person who is required to register under this section commits an offence if the person fails to do so and is liable—

• (a) on summary conviction, to a fine not exceeding €5,000 or imprisonment for a term not exceeding 12 months (or both), or

• (b) on conviction on indictment to a fine or imprisonment for a term not exceeding 5 years (or both).

• (3) The following particulars shall be entered into a register established and maintained by the Minister for the purposes of this section:

• (a) the name of each designated person who registers under this section;

• (b) the name and address of the premises of the private members’ club in relation to which the person is a designated person;

• (c) any prescribed information as may be reasonably required by the Minister for the purposes of this Act.

• (4) The register may be in book form, electronic form or such other form as the Minister may determine. The register may be maintained in an electronic, mechanical or other non-written form only if it is capable of being reproduced in a written form.

• (5) The Minister shall maintain the register at an office of the Department.

• (6) The Minister may prescribe particulars for the purposes of subsection (3)(c) only if satisfied that those particulars reasonably relate to the business or regulation of persons directing members’ clubs as designated persons.

• F232[(7) The Minister may publish the register in written, electronic or other form and a member of the public is entitled to obtain a copy of the register or of an entry in the register on payment of such reasonable copying charges as may be prescribed (if any).

• (8) The particulars entered in the register pursuant to this section relating to a person who is a designated person pursuant to section 25(1)(h) may be removed from the register where that person ceases to be a designated person pursuant to that provision.]

109A. F234[Managers and beneficial owners of private members’ clubs to hold certificates of fitness

109A.— (1) An individual who—

• (a) effectively directs a private members’ club at which gambling activities are carried on, or

• (b) is a beneficial owner of a private members’ club at which gambling activities are carried on,

shall hold a certificate of fitness and probity (referred to in this section and sections 109B, 109C, 109D and 109E as a "certificate of fitness") granted by a Superintendent of the Garda Síochána or, as the case may be, by the Minister.

• (2) An individual who fails to comply with subsection (1) commits an offence and is liable—

• (a) on summary conviction, to a fine not exceeding €5,000 or imprisonment for a term not exceeding 12 months, or both, or

• (b) on conviction on indictment to a fine or imprisonment for a term not exceeding 5 years, or both.

• (3) Where on the date that is 6 months from the coming into force of this section an individual has applied for a certificate of fitness, this section shall not apply to that individual until such time as the application, and any appeal in relation to the application, has been finally determined.]

109B. F237[Application for certificate of fitness

109B.— (1) Upon compliance with subsection (2), an individual shall make an application for a certificate of fitness—

• (a) where the individual ordinarily resides in the State—

• (i) to the Superintendent of the Garda Síochána for the district in which he or she ordinarily resides, or

• (ii) to the Superintendent of the Garda Síochána for the district in which the private members’ club concerned is located or is proposed to be located,

or

• (b) where the individual ordinarily resides outside the State, to the Minister.

• (2) An individual intending to apply for a certificate of fitness under this section shall, not later than 14 days and not earlier than one month before making the application, publish in two daily newspapers circulating in the State, a notice in such form as may be prescribed, of his or her intention to make the application.

• (3) An application for a certificate of fitness under this section shall be in such form as may be prescribed.

• (4) The applicant for a certificate of fitness shall provide the Superintendent of the Garda Síochána, or as the case may be, the Minister to whom the application concerned is made with all such information as he or she may reasonably require for the purposes of determining whether a relevant consideration referred to in section 109C exists.

• (5) A Superintendent of the Garda Síochána, or as the case may be, the Minister to whom an application for a certificate of fitness is duly made under this section shall, not later than 56 days after receiving the application, either—

• (a) grant the application and issue a certificate of fitness to the applicant, or

• (b) refuse the application.

• (6) A certificate of fitness under this section shall be in such form as may be prescribed.

• (7) An individual who, in applying for a certificate of fitness under this section, makes a statement or provides information to a Superintendent of the Garda Síochána or, as the case may be, to the Minister, that he or she knows, or ought reasonably to know, is false or misleading in a material respect commits an offence and is liable—

• (a) on summary conviction to a class A fine or imprisonment for a term not exceeding 6 months, or both, or

• (b) on conviction on indictment to a fine not exceeding €50,000 or imprisonment for a term not exceeding 2 years, or both.

• (8) A Superintendent of the Garda Síochána shall, as soon as may be after making a decision in relation to an application for a certificate of fitness, notify the Minister in writing of that decision.]

109C. F240[Grounds of refusal to grant certificate of fitness

109C.— (1) A Superintendent of the Garda Síochána or, as the case may be, the Minister shall not refuse an application for a certificate of fitness made in accordance with section 109B unless—

• (a) a relevant consideration exists, or

• (b) he or she is not satisfied that the applicant has provided such information as he or she reasonably requires for the purposes of determining whether a relevant consideration exists.

• (2) For the purposes of subsection (1), a relevant consideration exists if—

• (a) the applicant stands convicted of an offence under—

• (i) an enactment relating to excise duty on betting,

• (ii) the Gaming and Lotteries Acts 1956 to 2013,

• (iii) section 1078 of the Taxes Consolidation Act 1997,

• (iv) the Criminal Justice (Theft and Fraud Offences) Act 2001, or

• (v) this Act,

• (b) the applicant stands convicted of an offence under the law of a place (other than the State)—

• (i) consisting of an act or omission that, if committed in the State, would constitute an offence referred to in paragraph (a), or

• (ii) relating to the conduct of gambling,

or

• (c) the applicant was previously refused a certificate of fitness and either—

• (i) the applicant did not appeal the refusal, or

• (ii) on appeal to the District Court, the refusal was affirmed.

• (3) In this section, "enactment" means—

• (a) an Act of the Oireachtas,

• (b) a statute that was in force in Saorstát Éireann immediately before the date of the coming into operation of the Constitution and that continues in force by virtue of Article 50 of the Constitution,

• (c) an instrument made under—

• (i) an Act of the Oireachtas, or

• (ii) a statute referred to in paragraph (b).]

109D. F243[Duration of certificate of fitness

109D.— (1) A certificate of fitness shall remain in force until the expiration of 3 years after the date on which the certificate was issued.

• (2) If, before the expiration of a certificate of fitness, the individual to whom it was issued makes an application for a new certificate of fitness, the first-mentioned certificate of fitness shall remain in force—

• (a) until the issue of the new certificate of fitness,

• (b) in circumstances where the application is refused by the Superintendent of the Garda Síochána concerned or by the Minister and the individual does not make a request referred to in section 109E(1), until the expiration of the period within which the request may be made,

• (c) in circumstances where the application is refused by the Superintendent of the Garda Síochána concerned or by the Minister and the individual makes a request referred to in section 109E(1) but does not bring an appeal under that section, until the expiration of the period specified in subsection (3) of that section, or

• (d) in circumstances where the application is refused by the Superintendent of the Garda Síochána concerned or the Minister and the individual appeals the refusal in accordance with section 109E, until—

• (i) the District Court affirms the refusal in accordance with that section, or

• (ii) the issue of a new certificate of fitness pursuant to a direction of the District Court under subsection (4)(b) of that section.]

109E. F246[Appeal where application for certificate of fitness is refused

109E.— (1) If a Superintendent of the Garda Síochána, or as the case may be, the Minister refuses an application for a certificate of fitness, he or she shall, on the request in writing of the applicant made not later than 14 days after the refusal, give the applicant a statement in writing of the reasons for the refusal.

• (2) A person to whom a certificate of fitness has been refused may, not later than 14 days after receiving a statement in writing under subsection (1), appeal the refusal to the District Court.

• (3) A person who brings an appeal under this section shall, in such manner and within such period as may be prescribed give notice of the appeal to the Superintendent of the Garda Síochána concerned or, as the case may be, the Minister.

• (4) The District Court may, upon an appeal under this section, either—

• (a) affirm the refusal, or

• (b) grant the appeal and direct the Superintendent of the Garda Síochána concerned, or as the case may be, the Minister to issue a certificate of fitness to the appellant.

• (5) The Superintendent of the Garda Síochána concerned or, as the case may be, the Minister shall comply with a direction of the District Court under this section not later than 3 days after the giving of the direction.

• (6) The respondent in an appeal under this section shall not be entitled to advance as a reason for opposing an appeal under this section a reason not specified in a statement of the reasons for a refusal given to the appellant pursuant to a request under subsection (1).

• (7) If the District Court affirms a refusal under subsection (4)(a), it may also make an order requiring the appellant to pay the costs incurred by the respondent in defending the appeal and may determine the amount of such costs.

• (8) There shall be no appeal to the Circuit Court from a decision of the District Court under this section.

• (9) An appeal under this section by a person ordinarily resident in the State shall be brought before a judge of the District Court assigned to the District Court district—

• (a) in which he or she ordinarily resides, or

• (b) in which the private members’ club concerned is located or is proposed to be located.

• (10) An appeal under this section by a person not ordinarily resident in the State shall be brought before a judge of the District Court assigned to the Dublin Metropolitan District.]

109F. F249[Requirement to appoint central contact point

109F.— (1) The Central Bank of Ireland may require an electronic money issuer as defined in Article 2, point (3), of Directive 2009/110/EC of the European Parliament and of the Council of 16 September 2009⁷, a payment service provider as defined in Article 4(11) of Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015⁸ or a crypto-asset service provider operating in the State under the right of establishment in forms other than a branch, and whose head office is situated in a Member State other than the State, to appoint a central contact point in the State that shall—

• (a) ensure, on behalf of the entity operating on a cross-border basis, compliance with AML/CFT rules, and

• (b) facilitate supervision by supervisors, including by providing supervisors with documents and information on request.

• (2) A word or expression that is used in this section and is also used in Article 45(9) of the Fourth Money Laundering Directive (amended by Article 38(6) of Regulation (EU) 2023/1113 of the European Parliament and of the Council of 31 May 2023⁹ ) has, unless the contrary intention appears, the same meaning in this section as it has in the said Article 45(9).]

PART 5 Miscellaneous

110. Service of documents.

110.— (1) A notice or other document that is required or permitted, under this Act, to be served on or given to a person shall be addressed to the person by name and may be served or given to the person in one of the following ways:

• (a) by delivering it to the person;

• (b) by leaving it at the address at which the person ordinarily resides or carries on business;

• (c) by sending it by post in a pre-paid registered letter to the address at which the person ordinarily resides or carries on business;

• (d) if an address for service has been furnished, by leaving it at, or sending it by post in a pre-paid registered letter to, that address;

• (e) in the case of a direction to an individual or body (whether incorporated or unincorporated) under Part 3 not to carry out any specified service or transaction at a branch or place of business of the body or individual, by leaving it at, or by sending it by post in a pre-paid registered letter to, the address of the branch or place of business (as the case may be);

• (f) if the person giving notice considers that notice should be given immediately and a fax machine is located at an address referred to in paragraph (b), (c), (d) or (e), by sending it by fax to that machine, but only if the sender’s fax machine generates a message confirming successful transmission of the total number of pages of the notice.

• (2) For the purposes of this section—

• (a) a company registered under the Companies Acts is taken to be ordinarily resident at its registered office, and

• (b) any body corporate other than a company registered under the Companies Acts or any unincorporated body is taken to be ordinarily resident at its principal office or place of business in the State.

• (3) Nothing in subsection (1)(e) prevents the serving or giving of a direction or other document for the purposes of Part 3 under any other provision of this section.

• (4) This section is without prejudice to any mode of service or of giving a notice or any other document provided for under any other enactment or rule of law.

• (5) This section does not apply in relation to the service of a notice on the Minister referred to in section 100 (2).

111. Offences — directors and others of bodies corporate and unincorporated bodies.

111.— Where an offence under this Act is committed by a body corporate or by a person purporting to act on behalf of a body corporate or on behalf of an unincorporated body of persons, and is proved to have been committed with the consent or connivance, or to be attributable to any wilful neglect, of a person who, when the offence is committed, is—

• (a) a director, manager, secretary or other officer of the body, or a person purporting to act in that capacity, or

• (b) a member of the committee of management or other controlling authority of the body, or a person purporting to act in that capacity,

that person is taken to have also committed the offence and may be proceeded against and punished accordingly.

112. Disclosure of information in good faith.

112.— (1) This section applies to the disclosure in good faith, to a member of the Garda Síochána or to any person who is concerned in the investigation or prosecution of an offence of money laundering or terrorist financing, of—

• (a) a suspicion that any property has been obtained in connection with any such offence, or derives from property so obtained, or

• (b) any matter on which such a suspicion is based.

• (2) A disclosure to which this section applies shall not be treated, for any purpose, as a breach of any restriction on the disclosure of information imposed by any other enactment or rule of law.

113. Amendment of Bail Act 1997.

113.— The Schedule to the Bail Act 1997 is amended by inserting the following paragraph after paragraph 34 (inserted by section 48 of the Criminal Justice (Miscellaneous Provisions) Act 2009):

“Money Laundering.

1. Any offence under Part 2 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010.”.

114. Amendment of Central Bank Act 1942.

114.— (1) In this section, “Act of 1942” means the Central Bank Act 1942.

• (2) Section 33AK(5) (inserted by section 26 of the Central Bank and Financial Services Authority of Ireland Act 2003) of the Act of 1942 is amended by deleting paragraph (n).

• (3) The Act of 1942 is amended by inserting the following after section 33AN (inserted by section 10 of the Central Bank and Financial Services Authority of Ireland Act 2004):

“Application of Part to credit unions.

33ANA.— (1) This Part applies in relation to—

• (a) the commission or suspected commission by a credit union of a contravention of—

  • (i) a provision of Part 4 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010,

  • (ii) any direction given to the credit union under a provision of Part 4 of that Act,

  • (iii) any condition or requirement imposed on the credit union under a provision of Part 4 of that Act or under any direction given to the credit union under a provision of that Part, or

  • (iv) any obligation imposed on the credit union by this Part or imposed by the Regulatory Authority pursuant to a power exercised under this Part,

  and

• (b) participation, by a person concerned in the management of a credit union, in the commission by the credit union of such a contravention.

• (2) For those purposes—

  • (a) a reference in this Part to a regulated financial service provider includes a reference to a credit union,

  • (b) a reference in this Part to a prescribed contravention includes a reference to a contravention, by a credit union, of a provision, direction, condition, requirement or obligation referred to in subsection (1), and

  • (c) a reference in this Part to a person concerned in the management of a regulated financial service provider includes a reference to a person concerned in the management of a credit union.

• (3) Nothing in this section limits the application of this Part in relation to matters other than those referred to in subsection (1).

• (4) This section has effect notwithstanding anything to the contrary in section 184 of the Credit Union Act 1997.”.

• (4) Schedule 2 (substituted by section 31 of the Central Bank and Financial Services Authority of Ireland Act 2003) to the Act of 1942 is amended in Part 1 by inserting the following at the end of the Part:

“

No. __ of 2010	Criminal Justice (Money Laundering and Terrorist Financing) Act 2010	Part 4

”.

114A. F250[Prescribed amounts under section 33AQ of Central Bank Act 1942 in respect of certain contraventions

114A.— (1) In this section "Act of 1942" means the Central Bank Act 1942 and "designated person" means a designated person within the meaning of Part 4.

• (2) Notwithstanding subsection (4) of section 33AQ of the Act of 1942, in the case of a contravention of Chapter 3, 4 or 6 of Part 4, or section 30B, 57, 57A, 58 or 59, by a designated person, the prescribed amount for the purpose of subsection (3)(c) of section 33AQ is—

• (a) if the designated person is a body corporate or an unincorporated body, the greatest of—

• (i) €10,000,000,

• (ii) twice the amount of any benefit derived by the person from the contravention (where that benefit can be determined), and

• (iii) an amount equal to 10 per cent of the turnover of the body for its last complete financial year before the finding is made,

• (b) if the designated person is a natural person—

• (i) where the designated person is not a credit institution or financial institution, the greater of—

• (I) €1,000,000, and

• (II) twice the amount of any benefit derived by the person from the contravention (where that benefit can be determined),

• (ii) where the designated person is a credit institution or financial institution, the greater of—

• (I) €5,000,000, and

• (II) twice the amount of any benefit derived by the person from the contravention (where that benefit can be determined).

• (3) Notwithstanding subsection (6) of section 33AQ of the Act of 1942, in the case of a contravention of Chapter 3, 4 or 6 of Part 4, or section 30B, 57, 57A, 58 or 59, by a designated person, the prescribed amount for the purpose of subsection (5)(b) of section 33AQ is—

• (a) where the designated person is not a credit institution or financial institution, the greater of—

• (i) €1,000,000, and

• (ii) twice the amount of any benefit derived by the person from the contravention (where that benefit can be determined),

• (b) where the designated person is a credit institution or financial institution, the greater of—

• (i) €5,000,000, and

• (ii) twice the amount of any benefit derived by the person from the contravention (where that benefit can be determined).

• (4) For the purposes of subsection (2)(a)(iii), "turnover of the body" means total annual turnover of the designated person according to the latest available accounts approved by the management body of the designated person or, where the designated person is a parent undertaking or a subsidiary of a parent undertaking which is required to prepare consolidated financial accounts in accordance with Article 22 of Directive 2013/34/EU​¹², the total annual turnover or the corresponding type of income in accordance with the relevant accounting Directives according to the last available consolidated accounts approved by the management body of the ultimate parent undertaking.]

115. Amendment of Courts (Supplemental Provisions) Act 1961.

115.— Section 32A(1) of the Courts (Supplemental Provisions) Act 1961 (inserted by section 180 of the Criminal Justice Act 2006) is amended as follows:

• (a) in paragraph (d) (inserted by section 18 of the Criminal Justice (Surveillance) Act 2009) by substituting “Criminal Justice (Surveillance) Act 2009;” for “Criminal Justice (Surveillance) Act 2009.”;

• (b) by inserting the following paragraph after paragraph (d):

• “(e) any of the following powers under Part 3 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010:

  • (i) the power to order a person not to carry out any service or transaction;

  • (ii) the power to revoke an order referred to in subparagraph (i);

  • (iii) the power to make an order in relation to property if considered essential to do so for the purpose of enabling—

    • (I) the person who applies for the order to discharge the reasonable living and other necessary expenses incurred or to be incurred in respect of the person or the person’s dependants, or

    • (II) the person who applies for the order to carry on a business, trade, profession or other occupation to which any of the property relates.”.

116. Consequential amendment of Central Bank Act 1997.

116.— Section 28 (substituted by section 27 of the Central Bank and Financial Services Authority of Ireland Act 2004) of the Central Bank Act 1997 is amended, in the definitions of “bureau de change business” and “money transmission service”, by substituting the following for paragraphs (a) and (b) of those definitions:

• “(a) by a person or body that is required to be licensed, registered or otherwise authorised by the Bank under a designated enactment (other than under this Part) or designated statutory instrument, or”.

117. Consequential amendment of Criminal Justice Act 1994.

117.— (1) In this section, “Act of 1994” means the Criminal Justice Act 1994.

• (2) Section 3(1) of the Act of 1994 is amended in the definition of “drug trafficking” by substituting the following for paragraph (d):

• “(d) engaging in any conduct (whether or not in the State) in relation to property obtained, whether directly or indirectly, from anything done in relation to a controlled drug, being conduct that—

• (i) is an offence under Part 2 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (“Part 2 of the Act of 2010”) or would have been an offence under that Part if the Part had been in operation at the time when the conduct was engaged in, or

• (ii) in the case of conduct in a place outside of the State, other than conduct referred to in subparagraph (i)—

  • (I) would be an offence under Part 2 of the Act of 2010 if done in corresponding circumstances in the State, or

  • (II) would have been an offence under that Part if done in corresponding circumstances in the State and if the Part had been in operation at the time when the conduct was engaged in, or”.

• (3) Section 3(1) of the Act of 1994 is amended in the definition of “drug trafficking offence” by substituting the following for paragraph (e):

• “(e) an offence under Part 2 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010, or under section 31 of this Act (as in force before the commencement of that Part), in relation to the proceeds of drug trafficking,”.

118. Consequential amendment of Criminal Justice (Mutual Assistance) Act 2008.

118.— Section 94(3) of the Criminal Justice (Mutual Assistance) Act 2008 is amended by substituting “ Part 2 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010” for “section 31 of the Criminal Justice Act 1994, as substituted by section 21 of the Criminal Justice (Theft and Fraud Offences) Act 2001”.

119. Consequential amendment of Criminal Justice (Theft and Fraud Offences) Act 2001.

119.— Section 40(1) of the Criminal Justice (Theft and Fraud Offences) Act 2001 is amended by substituting the following for the definition of “money laundering”:

“‘money laundering’ means an offence under Part 2 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010;”.

120. Consequential amendment of Investor Compensation Act 1998.

120.— (1) In this section, “Act of 1998” means the Investor Compensation Act 1998.

• (2) Section 30(1) of the Act of 1998 is amended in the definition of “net loss” by substituting the following for subparagraph (iii):

• “(iii) money or investment instruments arising out of transactions in respect of which an offence has been committed under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (“ Act of 2010 ”),

• (iv) money or investment instruments arising out of transactions in respect of which an offence has been committed under a provision of Part IV of the Criminal Justice Act 1994 prior to the repeal of that provision by the Act of 2010,

• (v) money or investment instruments arising out of transactions in respect of which an offence has been committed under a provision of section 57 or 58 of the Criminal Justice Act 1994 prior to the repeal of that provision by the Act of 2010, or

• (vi) money or investment instruments arising out of transactions in respect of which there has been a criminal conviction, at any time, for money laundering, within the meaning of Directive 2005/60/EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing ¹².”.

• (3) Section 35 of the Act of 1998 is amended by substituting the following for subsection (3):

• “(3) Notwithstanding the time limits provided for in subsections (1) and (2), the competent authority may direct the Company or a compensation scheme approved under section 25, as appropriate, to suspend any payment to an eligible investor, where the investor has been charged with any of the following offences, pending the judgment of a court in respect of the charge:

  • (a) an offence under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (“ Act of 2010”);

  • (b) an offence committed, prior to the repeal by the Act of 2010 of any of the following provisions of the Criminal Justice Act 1994, under that provision:

    • (i) a provision of Part IV;

    • (ii) section 57;

    • (iii) section 58;

  • (c) an offence otherwise arising out of, or relating to, money laundering, within the meaning of Directive 2005/60/EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing ¹³.”.

121. Consequential amendment of Taxes Consolidation Act 1997.

121.— (1) In this section, “Act of 1997” means the Taxes Consolidation Act 1997.

• (2) Section 898F (substituted by section 90 of, and Schedule 4 to, the Finance Act 2004) of the Act of 1997 is amended as follows:

• (a) in subsection (3) by substituting “which is acceptable for the purposes of Chapter 3 of Part 4 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010” for “it acquires by virtue of section 32 of the Criminal Justice Act 1994”;

• (b) in subsection (4) by substituting “which is acceptable for the purposes of Chapter 3 of Part 4 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010” for “it acquires by virtue of section 32 of the Criminal Justice Act 1994”;

• (c) in subsection (5)(a) (substituted by section 124(1)(a) of the Finance Act 2006) by inserting “(or has done so, before the relevant commencement date, in accordance with this section as in force before that date)” after “in accordance with this section”;

• (d) by inserting the following paragraph after subsection (6)(a):

• “(aa) A paying agent who—

  • (i) before the relevant commencement date, established the identity and residence of an individual under this section as in force before that date, and

  • (ii) was required, immediately before the relevant commencement date and as a result of paragraph (a), to continue to treat that individual as so identified and so resident,

  shall continue to treat that individual as so identified and so resident until such time as the paying agent is in possession, or aware, of information which can reasonably be taken to indicate that the individual has been incorrectly identified or is not so resident or has changed his or her residence.”;

• (e) in subsection (6)(b) by inserting “or (aa)” after “paragraph (a)”;

• (f) in subsection (7) by inserting “(or as established, before the relevant commencement date, in accordance with this section as in force before that date)” after “this section”;

• (g) by inserting the following subsection after subsection (7):

• “(8) In this section, ‘relevant commencement date’ means the date on which section 121(2) of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 comes into operation.”.

• (3) Section 898G (substituted by section 90 of, and Schedule 4 to, the Finance Act 2004) of the Act of 1997 is amended as follows:

• (a) in subsection (2) by substituting “ Chapter 3 of Part 4 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010” for “section 32 of the Criminal Justice Act 1994”;

• (b) in subsection (4)(b) by substituting “ Chapter 3 of Part 4 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010” for “section 32 of the Criminal Justice Act 1994”;

• (c) in subsection (5)(b)(iii) by substituting “ Chapter 3 of Part 4 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010” for “section 32 of the Criminal Justice Act 1994”;

• (d) in subsection (6)(a) (substituted by section 124(1)(b) of the Finance Act 2006) by inserting “(or has done so, before the relevant commencement date, in accordance with this section as in force before that date)” after “in accordance with this section”;

• (e) by inserting the following paragraph after subsection (8)(a):

• “(aa) A paying agent who—

  • (i) before the relevant commencement date, established the identity and residence of an individual under this section as in force before that date, and

  • (ii) was required, immediately before the relevant commencement date and as a result of paragraph (a), to continue to treat that individual as so identified and so resident,

  shall continue to treat that individual as so identified and so resident until such time as the paying agent is in possession, or aware, of information which can reasonably be taken to indicate that the individual has been incorrectly identified or is not so resident or has changed his or her residence.”;

• (f) in subsection (8)(b) by inserting “or (aa)” after “paragraph (a)”;

• (g) in subsection (9) by inserting “(or as established, before the relevant commencement date, in accordance with this section as in force before that date)” after “this section”;

• (h) by inserting the following subsection after subsection (9):

• “(10) In this section, ‘ relevant commencement date’ means the date on which section 121 (3) of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 comes into operation.”.

122. Consequential amendment of Taxi Regulation Act 2003.

122.— Section 36(1)(f) of the Taxi Regulation Act 2003 is amended by substituting “Part 2 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010” for “Part IV of the Criminal Justice Act 1994”.

SCHEDULE 1 REVOCATIONS OF STATUTORY INSTRUMENTS

Section 4.

Title of Instrument (1)	Number and Year (2)	Extent of Revocation (3)
Criminal Justice Act 1994 (Section 32(10)(a)) Regulations 1995	S.I. No. 104 of 1995	The whole Regulations.
Criminal Justice Act 1994 (Section 32(10)(b)) Regulations 1995	S.I. No. 105 of 1995	The whole Regulations.
Criminal Justice Act 1994 (Section 32(10)(d)) Regulations 1995	S.I. No. 106 of 1995	The whole Regulations.
Criminal Justice Act 1994 (Section 32(10)(b)) (No. 2) Regulations 1995	S.I. No. 324 of 1995	The whole Regulations.
Criminal Justice Act 1994 (Section 32(10)(a)) Regulations 2003	S.I. No. 216 of 2003	The whole Regulations.
Criminal Justice Act 1994 (Section 32) Regulations 2003	S.I. No. 242 of 2003	The whole Regulations.
Criminal Justice Act 1994 (Section 32) (Amendment) Regulations 2003	S.I. No. 416 of 2003	The whole Regulations.
Criminal Justice Act 1994 (Section 32) (Prescribed States or Countries) Regulations 2003	S.I. No. 618 of 2003	The whole Regulations.
Criminal Justice Act 1994 (Section 32) (Prescribed Activities) Regulations 2004	S.I. No. 3 of 2004	The whole Regulations.
Criminal Justice Act 1994 (Section 32) (Prescribed States or Countries) Regulations 2004	S.I. No. 569 of 2004	The whole Regulations.

F251[SCHEDULE 2 Annex I to Directive 2013/36/EU of the European Parliament and of the Council of 26 June 201313 on Access to the Activity of Credit Institutions and the Prudential Supervision of Credit Institutions and Investment Firms, Amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC

Section 24.

LIST OF ACTIVITIES SUBJECT TO MUTUAL RECOGNITION

• (a) money market instruments (cheques, bills, certificates of deposit, etc.);

• (b) foreign exchange;

• (c) financial futures and options;

• (d) exchange and interest-rate instruments;

• (e) transferable securities.

The services and activities provided for in Sections A and B of Annex I to Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004¹⁵ on markets in financial instruments, when referring to the financial instruments provided for in Section C of Annex I of that Directive, are subject to mutual recognition in accordance with Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013¹⁶.]

F252[SCHEDULE 3 Non-exhaustive list of factors suggesting potentially lower risk

Section 34A

• (1) Customer risk factors:

• (a) public companies listed on a stock exchange and subject to disclosure requirements (either by stock exchange rules or through law or enforceable means), which impose requirements to ensure adequate transparency of beneficial ownership;

• (b) public administrations or enterprises;

• (c) customers that are resident in geographical areas of lower risk as set out in subparagraph (3).

• (2) Product, service, transaction or delivery channel risk factors:

• (a) life assurance policies for which the premium is low;

• (b) insurance policies for pension schemes if there is no early surrender option and the policy cannot be used as collateral;

• (c) a pension, superannuation or similar scheme that provides retirement benefits to employees, where contributions are made by way of deduction from wages, and the scheme rules do not permit the assignment of a member’s interest under the scheme;

• (d) financial products or services that provide appropriately defined and limited services to certain types of customers, so as to increase access for financial inclusion purposes;

• (e) products where the risks of money laundering and terrorist financing are managed by other factors such as purse limits or transparency of ownership (e.g. certain types of electronic money).

• (3) F253[Geographical risk factors - registration, establishment, residence in:]

• (a) Member States;

• (b) third countries having effective anti-money laundering (AML) or combating financing of terrorism (CFT) systems;

• (c) third countries identified by credible sources as having a low level of corruption or other criminal activity;

• (d) third countries which, on the basis of credible sources such as mutual evaluations, detailed assessment reports or published follow-up reports, have requirements to combat money laundering and terrorist financing consistent with the revised Financial Action Task Force (FATF) recommendations and effectively implement these requirements.]

F254[SCHEDULE 4 Non-exhaustive list of factors suggesting potentially higher risk

Section 39

• (1) Customer risk factors:

• (a) the business relationship is conducted in unusual circumstances;

• (b) customers that are resident in geographical areas of higher risk as set out in subparagraph (3);

• (c) non-resident customers;

• (d) legal persons or arrangements that are personal asset-holding vehicles;

• (e) companies that have nominee shareholders or shares in bearer form;

• (f) businesses that are cash intensive;

• (g) the ownership structure of the company appears unusual or excessively complex given the nature of the company’s F255[business;]

• F256[(h) the customer is a third country national who applies for residence rights or citizenship in the State in exchange for capital transfers, purchase of property or government bonds or investment in corporate entities in the State.]

• (2) Product, service, transaction or delivery channel risk factors:

• (a) private banking;

• (b) products or transactions that might favour anonymity;

• F255[(c) non face-to-face business relationships or transactions, without certain safeguards, such as electronic identification means, relevant trust services as defined in the Electronic Identification Regulation or any other secure, remote or electronic, identification process regulated, recognised, approved or accepted by the relevant national authorities;]

• (d) payment received from unknown or unassociated third parties;

• (e) new products and new business practices, including new delivery mechanism, and the use of new or developing technologies for both new and pre-existing F255[products;]

• F256[(f) transactions related to oil, arms, precious metals, tobacco products, cultural artefacts and other items of archaeological, historical, cultural and religious importance, or of rare or scientific value, as well as ivory and protected species.]

• (3) Geographical risk factors:

• (a) countries identified by credible sources, such as mutual evaluations, detailed assessment reports or published follow-up reports, as not having effective AML/CFT systems;

• (b) countries identified by credible sources as having significant levels of corruption or other criminal activity;

• (c) countries subject to sanctions, embargos or similar measures issued by organisations such as, for example, the European Union or the United Nations;

• (d) countries (or geographical areas) providing funding or support for terrorist activities, or that have designated terrorist organisations operating within their country.]

Footnotes