Revised Laws of Saint Lucia (2021)

32.   Duty to disclose information relating to property of terrorist groups etc.

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   (1)   A person shall forthwith disclose to the Financial Intelligence Authority—

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      (a)     the existence of any property in his or her possession or control, which to his or her knowledge is terrorist property, or for which there are reasonable grounds to believe is terrorist property;

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      (b)     the existence of any property in his or her possession or control, owned or controlled by or on behalf of a specified entity or for which there are reasonable grounds to believe is owned or controlled by or on behalf of a specified entity;

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      (c)     any information regarding a transaction or proposed transaction in respect of terrorist property; or

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      (d)     any information regarding a transaction or proposed transaction for which there are reasonable grounds to believe may involve terrorist property.

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   (2)   The Financial Intelligence Authority may disclose any information in its possession relating to any property owned or controlled by or on behalf of a terrorist group to—

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      (a)     the Comptroller of the Customs and Excise Department;

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      (b)     the Comptroller of the Inland Revenue Department;

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      (c)     the Commissioner of Police,

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      (d)     the Director of Public Prosecutions;

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      (e)     a Financial Intelligence Unit of a foreign State or an appropriate authority of a foreign State, as the case may be,

if such information is requested or if the Financial Intelligence Authority is of the view that the information would be relevant to the Financial Intelligence Unit of a foreign State or an appropriate authority of a foreign State.

(Substituted by Act 28 of 2019)

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   (3)   Every financial institution or a person engaged in other business activity shall report, every 6 months, to the Financial Intelligence Authority and any body authorized by law to supervise and regulate its activities—

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      (a)     that it is not in possession or control of any property owned or controlled by or on behalf of a terrorist group;

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      (b)     that it is in possession or control of such property, and the particulars relating to the persons, accounts, and transactions involved and the total value of the property.

(Amended by Act 28 of 2019)

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   (4)   In addition to the requirement under subsection (3), a financial institution and a person engaged in other business activity, as the case may be, shall immediately report to the Financial Intelligence Authority—

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      (a)     funds frozen under sections 22G and 22H;

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      (b)     any transaction which occurs within the course of its activities, and in respect of which there are reasonable grounds to suspect that the transaction is related to the commission of a terrorist act;

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      (c)     any action taken in relation to the termination of a business or professional relationship with a specified entity.

(Substituted by Act 28 of 2019)

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   (5)   No civil or criminal proceedings shall lie against any person for making a disclosure or report, in good faith, under subsection (1) or (2) or (3) or (4).

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   (6)   Every person who fails to comply with subsection (1) or (3) or (4) commits an offence and is on conviction on indictment, liable to imprisonment for a term not exceeding 10 years.

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   (7)   Where an offence under this section is committed by a body of persons, whether corporate or incorporate, a person who at the time of the commission of the offence, acted or purported to act in an official capacity for or on behalf of the body of persons, is regarded as having committed the offence and shall be tried and punished accordingly.

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   (8)   The provisions of this section are without prejudice to the provisions of the Financial Intelligence Authority Act or any enactment replacing it.