Prevention of Money Laundering Act (Cap. 373), article 29

29. Where any subject person is aware or suspects that a transaction which is to be exe cuted may be linked to money laundering, or funding of terrorism or may involve property tha t may have derived directly or indirectly from, or constitutes th e proceeds of, criminal activity but it is unable to inform the U nit before the transaction is execute d, either because it is not po ssible to delay executing the transaction due to its nature, or becaus e delay in executing the transaction could prevent the prosecutio n of the individuals involved in the suspected money laundering or t he underlying criminal activity, or funding of terrorism, the subj ect person shall inform the Unit immediately after executing the transaction giving the reason why the Unit was not so informed before executing the transaction. Power of the Unit to demand information. Added by: XXXI. 2001.4. Amended by: VI. 2005.5; III. 2015.15.