Money Laundering and Proceeds of Crime Act Act No. 4/2013 (9) Where the offence referred to in subsection (7) or (8) is committed by⎯ (a) an individual who is an employee, officer or agent of the financial institution in question, he or she shall be liable to a fine of level ten or imprisonment for a period of three years or both such fine and such imprisonment; or (b) a company or other corporate body⎯ (i) it shall be liable to fine not exceeding level fourteen; and (ii) every director or member of the governing body of the company or corporate body shall be liable to a fine of level ten or imprisonment for a period of three years or both such fine and such imprisonment, unless any director or member concerned proves that he or she took no part in the conduct of the company or corporate body. 77 Monitoring orders (1) The Attorney-General may apply, ex parte and in writing, to a court for an order (a "monitoring order") directing a financial institution to disclose information to an authorised officer obtained by the institution about transactions conducted through an account held by a particular person with the financial institution . (2) An application for a monitoring order shall be supported by an affidavit of an authorised person⎯ (a) the person in respect of whose account the order is sought⎯ (i) has committed or was involved in the commission, or is about to commit or be involved in the commission of, an offence; and (ii) has benefited directly or indirectly, or is about to benefit directly or indirectly, from the commission of a offence; or (b) the account is relevant to identifying, locating or quantifying terrorist property. (3) A monitoring order shall⎯ (a) direct a financial institution to disclose information obtained by the institution about transactions conducted through an account held by a particular person with the financial institution; and (b) not have retrospective effect; and (c) only apply for a period of a maximum of three months from the date it is made. (3) A court shall issue a monitoring order only if it is satisfied that there are reasonable grounds for believing the allegations put forth in the affidavit referred to in subsection (2). (4) A monitoring order shall specify⎯ (a) the name or names in which the account is believed to be held; and (b) the class of information that the financial institution is required to give. (5) A financial institution subject to customer information order is guilty of an offence against this section if it knowingly— (a) fails to comply with the order; or (b) provides false or misleading information in purported compliance with the order. (6) A financial institution that has been served with a monitoring order, and every employee, officer or agent of such institution, shall not disclose the existence or operation of the notice to any person except⎯ (a) an employee, officer or agent of the institution for the purpose of complying with the order; or (b) a legal practitioner for the purpose of obtaining legal advice or representation in respect of the order; or - 56 -