2018 !\(ONEY LAUNDE1(!N'G AND PROCEEDS OF CRIME Al\!E'/Dl\lEl'<T 4 No.12 New Chapter inserted in Cap. 9:24 The principal Act is amended by the insertion after Chapter I of the following Chapter"CHAPTER IA FINANCL\.L INTELLIGENCE Ul\1T 6A Establishment, composition and location of Financial Intelligence Unit (1) The Financial Intelligence Unit, previously established as the Bank Use Promotion and Suppression of !\1loney Laundering Unit tmder the Bank Use Promotion Act [Ciwprer 24:24!, continues in operation subject to this Act under the name "Financial Intelligence Unit". (2) The Unit shall be deemed to be a unit in the administrative establishment of the Reserve Bank having the following special features, namely that(a) it shall be headed by a Director-General appointed by the Governor in consultation \Vith the Minister; and (b) it shall consist or such other members of staff as may be necessal)' for the perfonnancc of its functions, who shaH be appointed by the Director-General; and (c) the staff of the Unit shall be answerable to the DirectorGeneral for the discharge of their duties and for any failure to do so or other breach of discipline, for which purpose the Director-General shall (as far as possible) apply the rules of the Resen'e Bank pe1taining to the discipline of the staff of the Reserve Bank; and (d) the budget of the Unit(i) shaH be approved by the Board of the Reserve Bank; and (ii) be managed by the Director-General independently of the Reserve Bank but be subject to intemal audit by the Reserve Bank and be audited by the auditors of the Reserve Bank; and (iii) may, in addition to consisting of moneys allocated by the Reserve Bank, include any moneys appropiiatcd by Act of Parliament for the purposes orthe Unit; and (e) the Director-General shall vacate his or her office(i) if he or she tenders his or her resignation, in writing, to the Govemor, giving such period or notice as may be provided for in his or her conditions of employment; or (ii) on the date he or she begins to serve a sentence of imprisonment imposed \Vithout the option of a fine in any country; or (iii) if he or she is found guilty of gross misconduct or incompetence, follmving a disciplinary process; or (iv) he is or she is no longer able to perform his or her functions due to infirmity of body or mind; 517