Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions)
Ordinance
Part 3
A695
Section 11
Ord. No. 15 of 2011
(9) A person who commits an offence under subsection (5), (6), (7) or (8) is liable—
- (a) on conviction on indictment to a fine of $1,000,000 and to imprisonment for 7 years; or
- (b) on summary conviction to a fine at level 6 and to imprisonment for 6 months.
(10) Despite anything in this Ordinance, no criminal proceedings may be instituted against a person under subsection (1), (3), (5), (6), (7) or (8) in respect of any conduct if—
- (a) proceedings have previously been instituted against the person for the purposes of section 14(2)(b) in respect of the same conduct; and
- (b) those proceedings remain pending or because of the previous institution of those proceedings, no proceedings may again be lawfully instituted against the person for the purposes of that section in respect of the same conduct.
11. Relevant authorities may appoint investigators
(1) If a relevant authority—
- (a) has reasonable cause to believe that an offence under this Ordinance may have been committed; or
- (b) for the purpose of considering whether to exercise any power under section 21 or 43, has reason to inquire whether a financial institution has contravened a specified provision as defined by section 5(11) or a provision specified in section 43(1),
the relevant authority may in writing direct one or more of the persons specified in subsection (2) or, with the consent of the Financial Secretary, appoint one or more other persons, to investigate the matter.
