| (1) |
The Minister may, in writing and on the conditions as he or she considers appropriate and in accordance with a resolution of the Security Council of the United Nations contemplated in section 26A(1), permit a person to conduct financial services or deal with property referred to in section 26B in the circumstances referred to in subsection (2). |
[Section 26C(1) substituted by section 30 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]
| (2) |
The Minister may permit the provision of financial services or the dealing with property if it is necessary to— |
| (a) |
provide for basic expenses, including, at least— |
| (iii) |
medicines or medical treatment; |
| (vi) |
public utility charges; |
| (vii) |
maintenance orders; |
| (viii) |
reasonable professional fees, and |
| (ix) |
reimbursement of expenses associated with the provision of legal services; |
| (b) |
satisfy a judgment or arbitral award that was made before the date on which the person or entity was identified by the Security Council of the United Nations; |
| (c) |
make a payment to a third party which is due under a contract, agreement or other obligation made before the date on which the person or entity was identified by the Security Council of the United Nations; |
| (d) |
accrue interest or other earnings due on accounts holding property affected by a prohibition under section 26B; |
| (e) |
make a payment due to a person or entity affected by a prohibition under section 26B by virtue of a contract, agreement or other obligation made before the date on which the person or entity was identified by the Security Council of the United Nations: Provided that the payment is not directly or indirectly being received by that person or entity. |
| (3) |
The Minister may permit the provision of financial services or the dealing with property under subsection (1) on his or her own initiative or at the request of a person affected by a prohibition under section 26B. |
| (4) |
The Director must, by appropriate means of publication, give notice of the Minister's permission of the provision of financial services or the dealing with property under subsection (1). |
| (a) |
The Minister may, in writing, delegate any power conferred in terms of this section, to the Director. |
| (b) |
A delegation in terms of paragraph (a)– |
| (i) |
is subject to any limitations or conditions that the Minister may impose; |
| (ii) |
does not divest the Minister of the responsibility concerning the exercise of the delegated power or the performance of the assigned duty. |
| (c) |
The Minister may vary or revoke any decision taken by the Director as a result of a delegation in terms of paragraph (a), subject to any rights that may have vested as a consequence of the decision. |
[Section 26C inserted by section 17 of the Financial Intelligence Centre Amendment Act, 2017 (Act No. 1 of 2017) - effective 1 April 2019 (Notice No. 519, GG 42360, 29 March 2019)]
Older Persons Act, 2006
