Statistics Act, 1999
R 385
Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001)Chapter 4 : Compliance and Enforcement61B. Failure to comply with duty in regard to governance |
| (1) | The board of directors or senior management, or both, of an accountable institution that fails to ensure compliance in accordance with section 42A(1) is non-compliant and is subject to an administrative sanction. |
| (2) | An accountable institution that fails to appoint a person in accordance with section 42A(2) or 42A(4) is non-compliant and is subject to an administrative sanction. |
| (3) | A person that fails to ensure compliance in accordance with section 42A(3) is non-compliant and is subject to an administrative sanction. |
[Section 61B inserted by section 47 of the Financial Intelligence Centre Amendment Act, 2017 (Act No. 1 of 2017)]
