Section 133Part 2 — The Financial Reporting AuthorityAmended
Concealing, etc
←→ Navigate · Click subsection badges to collapse · Press ? for help
Amended by LG32/S3
A person commits an offence if that person —
conceals criminal property;
disguises criminal prop erty;
converts criminal property;
transfers criminal property; or
removes criminal property from the Islands.
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 a disc losure to the Financial Reporting Authority under paragraph (a) but had a reasonable excuse for not doing so; 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 criminal conduct or benefit from criminal conduct.
Nor does that 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 conduct —
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.
Nor does that person commit an offence if that person is a professional legal adviser and does not disclose information or other matter which came to that person in privileged circumstances.
But subsection (4) does not apply to information or other matter which is communicated or given with the intention of furthering a criminal purpose.
In subsection (3) “ relevant criminal conduct ” is the conduct by reference to which the property concerned is criminal property.
Concealing or disguising criminal property includes concealing or disguising its nature, source, location, disposition, movement or ownership or any rights with respect to it.