Revised Laws of Saint Lucia (2021)

• 1.   Short title

• 2.   Interpretation

• 3.   Jurisdiction to try offences under this Act

• 4.   Continuation of Authority

• 5.   Functions of the Authority

• 6.   Powers of the Authority

• 7.   Additional functions

• 8.   Investigation

• 9.   Revenue of Authority

• 10.   Expenses of Authority

• 11.   Financial year

• 12.   Annual Report

• 13.   Annual Budget

• 14.   Accounts and audit

• 15.   Customer identity

• 16.   Responsibility of financial institution or person engaged in other business activity

• 17.   Customer due diligence

• 18.   Politically exposed persons

• 19.   Internal reporting procedures

• 20.   Further precautionary measures

• 21.   Transactions exceeding $25,000

• 22.   Warrants to search or seize

• 23.   Freezing of property

• 24.   Forfeiture of property and Forfeiture Fund

• 25.   Third party rights

• 26.   Application of sections 23 and 24

• 27.   Rules for establishing actus reus

• 28.   Concealing or transferring proceeds of criminal conduct

• 29.   Arranging with another to retain the proceeds of criminal conduct

• 30.   Acquisition, possession or use of proceeds of criminal conduct

• 31.   Attempts, aiding, abetting, counselling, procuring and conspiracy

• 32.   Offence committed by a body of persons

• 33.   Other offences

• 34.   Mutual assistance

• 35.   Secrecy obligations overridden

• 36.   Liability

• 37.   Criminal or civil liability for information

• 38.   Confidentiality

• 39.   Mandatory injunction

• 40.   Compensation

• 41.   (Repealed by Act 9 of 2011)

• 42.   Power to amend Schedules

• 43.   Regulations

• 44.   Repeal

• 45.   Savings

• Schedule 1

• Schedule 2

• 16A.    Standard for reasonable suspicion

• 33A.    Restrictions on conviction for money laundering offence

• 33B.    Suspension or revocation of licence by order of the court

• 40A.   Prosecution of summary offences

• 41.   Duties of Central Bank

• 6A.    Power to issue directions

• 6B.    Penalty for failure to comply with direction

• 7A.    Delegation

• 7B.    Director of the Authority

• 14A.    Interpretation of Part 2A

• 14C.    Inspection of a licensed financial institution by the authority

• 14D.    Issue of prudential standards

• 14E.    Powers of the Central Bank

• 14F.    Suspension of activity

• 14G.    Suspension or revocation of licence

• 14H.    Penalty

• 14I.    Risk assessment of a Licensed Financial Institution

• 14J.    Customer due diligence measures

• 14K.    Liability of the Central Bank for actions or omissions

• 14L.    Liability of a Licensed Financial Institution for disclosure of information

• 14M.    Non-disclosure

• 16B.    Risk assessment

• 21.   Source of funds declaration

• 41.   (Repealed by Act 9 of 2011, Re-inserted by Act 13 of 2019 and Repealed by Act 16 of 2021)

• Schedule 3