A LAW to amend further the Proceeds of Crime (Jersey) Law 1999

THE STATES, subject to the sanction of Her Most Excellent Majesty in Council, have adopted the following Law –

“41B Financial intelligence gathering etc.

(1)     The States may by Regulations prescribe that there shall be a body (a ‘financial intelligence unit’) to carry out functions of gathering, analysing and transmitting financial information, in accordance with and as further provided by such Regulations.

(2)     Without derogation from the generality of Article 42A or of paragraph (1) of this Article, Regulations made for the purpose mentioned in that paragraph may, in particular –

(a)     designate an existing body, or establish a new body, to be a financial intelligence unit;

(b)     specify more precisely the functions of the financial intelligence unit;

(c)     make provision as to its operation and resources and as to the appointment and employment of its officers;

(d)     confer powers on the financial intelligence unit to require the provision of financial information from such persons as may be specified in the Regulations and in such manner and at such times as the financial information unit may reasonably determine;

(e)     specify more precisely the nature of the financial information which may be so sought;

(f)      specify more precisely the persons to whom the financial information may be transmitted; and

(g)     create offences for failure to comply with a requirement of the Regulations and impose penalties for such offences.

(3)     The power to make consequential provision conferred by Article 42A(2) may be exercised, in Regulations made for the purpose mentioned in paragraph (1), so as to further amend this Law or any other enactment.”.