Section 138Part 2 — The Financial Reporting AuthorityAmended
Disclosure by the Financial Reporting Authority
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Amended by LG32/S3
The Financial Reporting Authority —
shall, where it has cause to suspect that criminal conduc t has been committed, disclose any information received under this Act to any law enforcement agency in the Islands;
may, where it has cause to suspect that criminal conduc t has been committed, disclose any i nformation received under this Act to —
any competent authority;
any Supervisory Authority within the Islands; and
such other institutions or persons in the Islands as may bedesignated in writing by the Steering Group; and (b) may, where it has cause to suspect that a crimi nal conduct has been committed disclose any information received under this Act to any overseas financial intelligence unit, in order to — ( i ) report the possible commission of an offence; ( ii ) initiate a criminal investigation respecting the matter disclosed; ( iii ) assist with any investigation or criminal proceedings respecting the matter disclosed;
facilitate the effective regulation of the financial services industry; or
generally give effect to the purposes of this Act or any other law.
Repealed by section 4(b) of the Proceeds of Crime (Amendment) Law, 2018 [ Law 28 of 2018 ].