Section 134Part 2 — The Financial Reporting AuthorityAmended
Arrangements
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Amended by LG32/S3
A person commits an offence if that p erson enters into or becomes concerned in an arrangement which that person knows or suspects facilitates (by whatever means) the acquisition, retention, use or control of criminal property by or on behalf of another person.
A person does not commit an offence under subsection (1) if —
that person makes a disclosure to the Financial Reporting Authority and has the consent of the Financial Reporting Authority to commit the act, but this does not apply to the person who committed or was a party to the act from which the property derives;
that person intended to make such a disclosure but had a reasonable excuse for not doing so;
that person is a professional legal adviser and does not disclose information or other matter which came to that perso n in privileged circumstances; or
the act that person does is done in carrying out a function that person has relating to the enforcement of any provision of this Act or of any other enactment relating to a criminal conduct or benefit from a criminal conduct.
But subsection (2) (c) does not apply to information or other matter which is communicated or given with the intention of furthering a criminal purpose.
No r does a person commit an offence under subsection (1) if —
that person knows, or believes on reasonable grounds, that the relevant criminal conduct occurred in a particular country or territory outside the Islands; and
the relevant criminal conduc t —
was not, at the time it occurred, unlawful under the criminal law then applying in that country or territory; and
is not of a description prescribed by an order made by the Attorney General.
In subsection (4) “ the relevant criminal conduct ” is the criminal conduct by reference to which the property concerned is criminal property.