Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001)Chapter 3 : Control Measures for Money Laundering and Financing of Terrorist and Related Activities - Money Laundering, Financing of Terrorist and Related Activities and Financial Sanctions Control MeasuresPart 3 : Reporting duties and access to information36. Information held by supervisory bodies and South African Revenue Service |
| (1) | If a supervisory body or the South African Revenue Service knows or suspects that an accountable institution, wittingly or unwittingly has received or is about to receive the proceeds of unlawful activities or has been used or may be used in future for money laundering purposes or for the purpose of any transaction contemplated in section 29(1)(b), it must advise the Centre and any authority, service or body contemplated in section 3 or any other supervisory body that, in the opinion of the supervisory body or the South African Revenue Service, may have an interest therein, of that fact and furnish them with all information and any records regarding that knowledge or suspicion which they may reasonably require to identify the proceeds of unlawful activities or to combat money laundering activities or financing of terrorist and related activities. |
[Section 36(1) substituted by section 10(a) of the Financial Intelligence Centre Amendment Act, 2008 (Act No. 11 of 2008]
| (2) | If the Centre believes that a supervisory body or the South African Revenue Service may have information indicating that an accountable institution, wittingly or unwittingly has received or is about to receive the proceeds of unlawful activities or has been used or may be used in future for money laundering purposes or for the purpose of any transaction contemplated in section 29(1)(b), the Centre may request that supervisory body or the South African Revenue Service to confirm or rebut that belief and the supervisory body or South African Revenue Service, as the case may be, must do so and, if that belief is confirmed, must furnish the Centre and any authority, service or body referred to in section 3 or any other supervisory body identified by the Centre that may have an interest in that matter with all information and any records regarding that knowledge or suspicion which the Centre may reasonably require for the achievement of its objectives. |
[Section 36(2) substituted by section 10(a) of the Financial Intelligence Centre Amendment Act, 2008 (Act No. 11 of 2008]
| (3) | The Commissioner for the South African Revenue Service and the chief executive officer of a supervisory body may make such reasonable procedural arrangements and impose such reasonable safeguards regarding the furnishing of information referred to in section 5(2) and subsections (1) and (2) of this section as the Commissioner or such officer considers appropriate to maintain the confidentiality, if any, of that information. |
[Section 36(3) substituted by section 35 of the General Laws (Anti-Money Laundering & Combating Terrorism Financing) Amendment Act, 2022 (Act No. 22 of 2022) Notice No. 1532, GG47802, dated 29 December 2022 - effective 31 December 2022 per Proclamation Notice 109 (a), GG47805, dated 31 December 2022]