Prevention of Money Laundering Act (Cap. 373), article 27B

27B. Without prejudice to the generality of the provisions of the Act, where the Unit is in possession of documentation or information which it considers to be of interest and relevance to any competent authority in the p ursuance of its functions, the Unit may, subject to any conditions and restrictions that the Unit m ay impose, transmit such documentation or information to the relev ant competent authority: Provided that the transmission of information shall be subject to: (a) a guarantee by the competen t authority receiving such information that it has adequate rules and procedures in place governing the confid entiality and security of information; (b) the condition that information or documents exchanged shall be used by the receiving competent authority only for the purposes of pursuing its 32 CAP. 373.] PREVENTION OF MONEY LAUNDERING functions at law; (c) the condition that the transm itted information shall not be used for purposes other than those referred to in paragraph (b) above, nor s hall it be disseminated to any other person, body, authority or agency without the express prior cons ent of the Unit; and (d) any other condition or restriction that the Unit may determine, including the prior conclusion, if it deems so necessary, of any memorandum of understanding or other agreement to regulat e any such transmission of information. Co-operation with designated authorities. Added by: XLIII.2021.9.