Criminal Justice (Money Laundering and Terrorist Financing) Act 2010
F166[Holder of registration to ensure that beneficial owners are fit and proper persons
106N.— (1) The holder of a registration shall take reasonable steps to ascertain that any person who is a beneficial owner of the virtual asset service provider concerned is a fit and proper person.
(2) A person who contravenes subsection (1) commits an offence.
(3) A person who commits an offence under this section is liable—
(a) on summary conviction, to a class C fine, or
(b) on conviction on indictment, to a fine not exceeding €100,000.]
Annotations:
Amendments:
F166
Inserted (23.04.2021) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021 (3/2021), s. 25, S.I. No. 188 of 2021. A class C fine means a fine not exceeding €2,500 as provided (4.01.2011) by Fines Act 2010 (8/2010), ss. 3, 6(1), S.I. No. 662 of 2010.