(1) As soon as a financial institution or a person engaged in other business activity becomes aware of a listed entity, that financial institution or person engaged in other business activity shall immediately —
(a) report to the Commissioner of Police and the Financial Intelligence Authority if it is in possession of property that is —
(i) owned or controlled, by a listed entity,
(ii) wholly or jointly owned or controlled, directly or indirectly, by a listed entity,
(iii) derived or generated from funds or other assets that is owned or controlled, directly or indirectly, by a listed entity,
(iv) owned or controlled by a person acting on behalf of or at the direction of a listed entity;
(v) owned or controlled, directly or indirectly, by —
(A) the Government or a political party of a proscribed country;
(B) a person acting on behalf of, or at the direction of the Government or a political party of a proscribed country;
(C) a person controlled by the Government or a political party of a proscribed country, which is associated with a nuclear or ballistic programme of that Government or a political party of a proscribed country or any other activity prohibited by this Act;
(b) report to the Commissioner of Police and the Financial Intelligence Authority if there is a transaction being conducted by a person involving property owned or controlled, directly or indirectly, by the listed entity;
(c) disclose to the Financial Intelligence Authority all information relating to the property of the listed entity or to the transaction conducted by the person referred to under paragraph (b).
(2) If a listed entity attempts to enter into a transaction or continue a business relationship with a financial institution or a person engaged in other business activity, the financial institution or a person engaged in other business activity shall immediately submit a suspicious transaction report, in the prescribed form, to the Financial Intelligence Authority and shall not enter into or continue a transaction or business relationship with the listed entity.