No.1
2018
of the account or accounts of any person (hereinafter called '"the
sanctioned person") reasonabl) suspected of \'iolatin,? any proYision
of this Act. the !::\change Control .\ct !Ciwpler 22:051 or the \loney
I ,aundering Act.
(2) The temporary freet.ing order shall prevent-(a)
the sanctioned person or any person acting on his or her
behalf in \\hate,er capacity from(i)
(ii)
operating any account affected by the order; or
opening any account with same oranyothertinancial
institution;
and
(b)
the financial institution where the account of the
sanctioned person is held from authorising or executing
any transactions through that account. whether at the
instance of the sanctioned person or not;
without the express approval of the Director gi,en subject to the
conditions specified by the Director.
(3) Within the period of the temporary freezing order. or any
extension of the freezing order as the court may allow. the Director
may apply to a magistrate's court for a freezing order in respect of the
sanctioned person for any definite or indefinite pctiod:
(-J.) An application for a freezing order shall he in \\'riting and
shall be supported by an affidavit of the Dirt~ctor indicating that the
Director believes. and the grounds for his or her belief, that the account
is concemed in any violation of or is being used for violating any cited
provision of this Act, the Exchange Control Act IChaprer 22:051 or
the "toney Laundering Act.
(5) An application for a freezing order may include an
application for an order by the court limiting or rcstticting attendance at
the court and puhlication of its proceedings in te1ms of the ( :om1s and
Adjudicating Authorities (Publicity Restriction) Act IChapler 7:04].
(6) The com1 may make a freezing order fix any definite or
indefinite peti<xl in relation to any one or more accounts referred to in an
application brought under tllis section where it is satisfied that there arc
reasonahle grounds to believe that the account or accounts in question
are concemed in any violation of or are being used for violating any
cited proYision of this Act. the Exchange Control Act [Chapler 22:051
or the \Ioney Laundering Act:
Provided that(a)
no freezing order may be issued for a definite period
exceeding twelve months without the Director applying
for an extension of the order in the same way that he or
she applied for the original order;
(b)
a freezing order issued f(x an indefinite petiod shall lapse
at the end of the t wclfth month on the d:'1te after was issued
unless the Director applies (in the same way that he or she
applied for the miginal order) for a rene\Yal of the order
or for an order having effect for a definite period.
(7) The temporary freezing order shall prevent-(a)
the sanctioned person or any person acting on his or ht~r
behalf in whate\'er capacity from--J.l
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