Subject to section 17(3)(b) and (4)(d), a person who enters into a transaction with a financial institution or person engaged in other business activity shall fill out a source of funds declaration in the prescribed form if the value of the transaction —
(a) is equal to or exceeds Ten Thousand United States Dollars or its equivalent in Eastern Caribbean Dollars;
(b) is less than Ten Thousand United States Dollars or its equivalent in Eastern Caribbean Dollars and the financial institution or person engaged in other business activity requests that a person fills out the source of funds declaration when performing customer due diligence.
(Substituted by Act 16 of 2021)