Criminal Justice (Money Laundering and Terrorist Financing) Act 2010
Measures for retrieval of information relating to business relationships.
56.—(1) A F119[…] designated person shall have systems in place to enable it to respond fully and promptly to enquiries from the Garda Síochána—
(a) as to whether or not it has, or has had, a business relationship, within the previous F120[5 years], with a person specified by the Garda Síochána, and
(b) the nature of any such relationship with that person.
(2) F120[A designated person who] fails to comply with this section commits an offence and is liable—
(a) on summary conviction, to a fine not exceeding €5,000 or imprisonment for a term not exceeding 12 months (or both), or
(b) on conviction on indictment, to a fine or imprisonment for a term not exceeding 5 years (or both).
Annotations
Amendments:
F119
Deleted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26/2018), s. 28(a), S.I. No. 486 of 2018.
F120
Substituted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26/2018), s. 28(b), (c), S.I. No. 486 of 2018.
Editorial Notes:
E27
A fine of €5,000 translates into a class A fine, not greater than €5,000, as provided (4.01.2011) by Fines Act 2010 (8/2010), ss. 3, 4(2) and table ref. no. 1, S.I. No. 662 of 2010.