Prevention of Money Laundering Act (Cap. 373), article 12A

12A. (1) The Minister may, by regulations made under this Act, establish a committee that shall be referred to as the Nat ional Co-ordinating Committee on Combating Money Laundering and Funding of Terrorism. (2) The committee established under sub-article (1) shall draw up a national strategy and policies to combat money laundering, the funding of terrorism and the financing of the proliferation of weapons of mass destruction and co-ordinate any action to be ta ken to develop, implement and review the national strategy and policies, including the co-ordin ation of nationa l risk assessme nts and the actions to be taken to a ddress any threats, vulnerabili ties and risks identified. (3) The committee established u nder sub-article (1) shall be composed of the Permanent Secretary of the Ministry responsible for finance, the Permanent Secretary of the Ministry responsible fo r home affairs, the Permanent Secretary of the Ministry responsible fo r justice, the Governor of the Central Bank of Malta, the Commissioner for Revenue, the Chairman of the Ma lta Financial Services Authority , the Chairperson of the Malta Gaming Authority, the Commissioner of Police, the Attorney General, the Chairman of the Unit and the Chairperson of the Asset Recovery Bureau or their deputies. (4) The committee may, whenever it deems so necessary or expedient, engage one or more persons, whom it considers to be in possession of suitable expertise, to assist it in carrying out specific tasks requiring such expertise. (5) The Chairperson of the committee shall be the Permanent Secretary of the Ministry responsible for finance. 16 CAP. 373.] PREVENTION OF MONEY LAUNDERING (6) The Minister shall prescrib e by means of regulations the powers to be conferred on the co mmittee and the procedures it i s to follow for the proper carrying out of its functions. (7) The remuneration payable, if any, to any member of the committee shall be determined by the Minister. Punishments, penalties and other measures. Substituted by: XXVIII. 2017.6.