Criminal Justice (Money Laundering and Terrorist Financing) Act 2010
F132[Co-operation with Member State competent authorities
63B.— (1) This section applies to designated persons—
(a) which operate establishments in the State and which have their head offices in another Member State, or
(b) which operate establishments in another Member State and which have their head offices in the State.
(2) A competent authority for designated persons to which this section applies shall take the necessary steps—
(a) to co-operate with Member State competent authorities in relation to the development and implementation of policies to counter money laundering and terrorist financing,
(b) to co-ordinate activities to counter money laundering and terrorist financing with Member State competent authorities, and
(c) to co-operate with Member State competent authorities to ensure the effective supervision of designated persons to which this section applies.
F133[(2A) Co-operation with Member State competent authorities under this section by a competent authority may include the sharing of information which the competent authority is not prevented from disclosing by the law of the State and the provision of assistance shall not be refused on the basis that:
(a) the request for the sharing of information or the provision of assistance is also considered to involve tax matters;
(b) the law of the State requires the competent authority to maintain secrecy or confidentiality except in those cases where the relevant information that is sought is protected by legal privilege;
(c) there is an inquiry, investigation or proceeding underway in the State, unless the sharing of such information or the provision of assistance would impede the inquiry, investigation or proceeding; or
(d) the nature or status of the requesting competent authority is different from that of the competent authority of whom the request is made.]
(3) In this section “Member State competent authority”, in relation to a Member State (other than the State), means the authority designated by that Member State to be the competent authority in that Member State for the purposes of the Fourth Money Laundering Directive.]
Inserted (18.11.2019) by European Union (Money Laundering and Terrorist Financing) Regulations 2019 (S.I. No. 578 of 2019), reg. 2(b).
Inserted (23.04.2021) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021 (3/2021), s. 19, S.I. No. 188 of 2021.