| (1) |
No person may, directly or indirectly, in whole or in part, and by any means or method— |
| (a) |
acquire, collect, use, possess or own property; |
| (b) |
provide or make available, or invite a person to provide or make available property; |
| (c) |
provide or make available, or invite a person to provide or make available any financial or other service; |
| (d) |
provide or make available, or invite a person to provide or make available economic support; or |
| (e) |
facilitate the acquisition, collection, use or provision of property, or the provision of any financial or other service, or the provision of economic support, |
[Words following section 26B(1)(e) substituted by section 29(a) of the General Laws (Anti-Money Laundering & Combating Terrorism Financing) Amendment Act, 2022 (Act No. 22 of 2022) Notice No. 1532, GG47802, dated 29 December 2022 - effective 31 December 2022 per Proclamation Notice 109 (a), GG47805, dated 31 December 2022]
intending that the property, financial or other service or economic support, as the case may be, be used, or while the person knows or ought reasonably to have known or suspected that the property, service or support concerned will be used, directly or indirectly, in whole or in part, for the benefit of, or on behalf of, or at the direction of, or under the control of a person or an entity identified pursuant to a resolution of the Security Council of the United Nations contemplated in section 26A(1).
| (2) |
No person may, directly or indirectly, in whole or in part, and by any means or method deal with, enter into or facilitate any transaction or perform any other act in connection with property which such person knows or ought reasonably to have known or suspected to have been acquired, collected, used, possessed, owned or provided for the benefit of, or on behalf of, or at the direction of, or under the control of a person or an entity— |
| (a) |
identified pursuant to a resolution of the Security Council of the United Nations contemplated in section 26A(1); or |
| (b) |
acting on behalf of or at the direction of a person or entity contemplated in paragraph (a). |
[Section 26B(2) substituted by section 29(b) of the General Laws (Anti-Money Laundering & Combating Terrorism Financing) Amendment Act, 2022 (Act No. 22 of 2022) Notice No. 1532, GG47802, dated 29 December 2022 - effective 31 December 2022 per Proclamation Notice 109 (a), GG47805, dated 31 December 2022]
| (3) |
No person who knows or ought reasonably to have known or suspected that property is property referred to in subsection (1), may enter into, or become concerned in, an arrangement which in any way has or is likely to have the effect of— |
| (a) |
making it possible for a person or an entity identified pursuant to a resolution of the Security Council of the United Nations contemplated in section 26A(1) to retain or control the property; |
[Section 26B(3)(a) substituted by section 29(c) of the General Laws (Anti-Money Laundering & Combating Terrorism Financing) Amendment Act, 2022 (Act No. 22 of 2022) Notice No. 1532, GG47802, dated 29 December 2022 - effective 31 December 2022 per Proclamation Notice 109 (a), GG47805, dated 31 December 2022]
| (b) |
converting the property; |
| (c) |
concealing or disguising the nature, source, location, disposition or movement of the property, the ownership thereof or any interest anyone may have therein; |
| (d) |
removing the property from a jurisdiction; or |
| (e) |
transferring the property to a nominee. |
Statistics Act, 1999
