Criminal Justice (Money Laundering and Terrorist Financing) Act 2010


Offence to fail to comply with conditions or prescribed requirements.

94.— (1) The holder of an authorisation commits an offence if the holder fails to comply with—

(a) any condition of the authorisation, or

(b) any prescribed requirements.

(2) A person who commits an offence under this section is liable—

(a) on summary conviction, to a fine not exceeding €2,000, or

(b) on conviction on indictment, to a fine not exceeding €100,000.

(3) The Minister may prescribe requirements for the purposes of subsection (1)(b) only if the Minister is satisfied that it is necessary to do so for the proper and orderly regulation of the business of trust or company service providers and, in particular, for preventing such businesses from being used to carry out money laundering orterrorist financing.


Modifications (not altering text):


Application extended (15.07.2010) by European Communities (Trust or Company Service Providers) (Temporary Authorisation) Regulations 2010 (S.I No. 347 of 2010), reg. 10, in effect as per reg. 2.

10. A temporary authorisation shall be subject to any prescribed requirements referred to in section 94 of the Act of 2010.

Editorial Notes:


A fine of €2,000 translates into a class C fine, not greater than €2,500, as provided (4.01.2011) by Fines Act 2010 (8/2010), ss. 3, 6(2) and table ref. no. 1, S.I. No. 662 of 2010.