Criminal Justice (Money Laundering and Terrorist Financing) Act 2010

F265[Imposition of financial penalty or daily penalty payment and criminal proceedings

109S

109S.— (1) Where a financial penalty or a daily penalty payment is imposed on a relevant provider in accordance with this Chapter in respect of a breach of a relevant obligation and the breach of the relevant obligation is an offence under a law of the State, the relevant provider is not liable to be prosecuted or punished for the offence under that law.

(2) An adjudication officer may not impose an administrative sanction on a relevant provider under this Chapter–

(a) if the relevant provider has been charged with having committed an offence under a law of the State,

(b) if–

(i) criminal proceedings are ongoing in respect of the breach,

(ii) the relevant provider has been found guilty of having committed the offence, or

(iii) the relevant provider has been found not guilty of having committed the offence where proceedings have determined other than by way of nolle prosequi, and

(c) the offence involves the same breach as is before the adjudication officer.]

Annotations

Amendments:

F265

Inserted (30.06.2026) by European Union (Money Laundering and Terrorist Financing) (Administrative Sanctions) Regulations 2026 (S.I. No. 307 of 2026), reg. 5, in operation as per reg. 2.