No. 12
MoN1oY L,AUNDERING AND PROCEEDS OF CHIME AMENDMli"H
as ddinedin the Money Laundering and Proceeds of Crime Act [Chapter
9:24], the Commissioner-General shall disclose that information to
the Director-General of the Financial Intelligence Unit established
by that Act.''.
23
Amendment of Cap. 24:24
The Bank Usc Promotion Act [Chapter 24:24] is amended(a)
in section 2 ("lnterpretation")(i)
in the definition of "Director" by the deletion of "Director" and
substitution of "Director-General";
(ii) in the definition of"Director-General" by the deletion of"subscction
(3) of section three'' and the substitution of"section6C ofthe Money
L.aundering and Proceeds of Crime Act [Chapter 9:24]";
(ii)
by the repeal of the definition of "lJnit" and the substitution of"" Unit" means the Financial Intelligence Unit established by
section 6A of the Money Laundeting and Proceeds of Crime
Act [Chapter 9:24]";
(b)
24
by the repeal of Part II ("Bank Use Promotion and Suppression oflvloney
L,,undering Unit").
Savings and transitional provisions
(l) In this section-"fixed date" means the date of commencement of this Act;
"former Unit" means the Bank Use Promotion and Suppression of Jv[oney
Laundering Unit established by section 3 of the Bank Use Promotion Act
!Chapter 24:24] ("the principal Act");
"new lJnit" means the Financial Intelligence Unit established by section 6A
of the principal Act as amended by this Act.
(2) Any word or expression defined in the principal Act as amended by this
Act shall bear the same meaning when used in this Act.
(3) Any property or assets which, immediately before the 1ixed date, were
owned by or vested in the fmmer Unit shall on that date become propetty or assets of
the new Unit.
534
2018
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