Prevention of Money Laundering Act (Cap. 373), article 13C

13C. (1) Any administrative penalty imposed by the Unit in terms of rules and regulations made under article 13, and which exceeds fifty thousand euro (€50,000), shall be subject to publication on the official website of the Unit, together with any other administrative measure imposed by the Unit in conjunction with that administrative penalty and the publication shall take place within five (5) working days from the date of notification of the administrative penalty to the subject person: Provided further that where the administrative penalty has been appealed in terms of article 13A, the Unit shall, without undue delay, publish information on the appeal, and thereafter on the status of the appeal and the outcome thereof, including information on any decision of the Court of Appeal (Inferior Jurisdiction) which alters or revokes in whole or in part that administrative penalty in question. (2) The Unit shall publish on an anonymous basis the following administrative measures and penalties imposed by the Unit in terms of rules and regulations made under article 13: (a) administrative penalties that do not exceed fifty thousand euro (€50,000); and (b) administrative measures imposed by the Unit, except those envisaged under sub-article (1). (3) Notwithstanding the provisions of sub-articles (1) and (2), where the Unit considers that the publication of an administrative measure or penalty may jeopardise the stability of financial markets or may jeopardise any on-going supervisory, analytical or investigative work, or it considers it to be disproportionate, the Unit may, in accordance with policies and procedures established by the Board of Governors in terms of sub-article (4), decide to delay the publication, or to publish that administrative measure or penalty on an anonymous basis, or not to publish such an administrative measure or penalty. (4) The Board of Governors referred to in article 18 shall establish and publish policies and procedures to further regulate the publication of administrative measures and penalties. PART II FINANCIAL INTELLIGENCE ANALYSIS UNIT Definitions. Added by: XXXI. 2001.4. Amended by: VI. 2005.5. XXVIII. 2017.9; XLIII.2021.7.