Clause 4

in subsection (1)(a), replace “section” with “subsection”;

after subsection (1), insert —“(1A) Subject to subsection (3), a person (A) —

who enters into, or is otherwise concerned in, an arrangement under which —

the retention or control by or on behalf of another person (B) of B’s, or any other person’s, benefits from criminal conduct is facilitated (whether by concealment, removal from jurisdiction, transfer to nominees or otherwise);

funds that are placed at another person’s (B) disposal are secured, directly or indirectly, by B’s, or any other person’s, benefits from criminal conduct; or

property is acquired for another person’s (B) benefit, by way of investment or otherwise, using B’s, or any other person’s, benefits from criminal conduct; and

who —

does so rashly in respect of the circumstance that the arrangement relates to benefits from criminal conduct; or

does so negligently,shall be guilty of an offence.”;

in subsection (3)(a), after “subsection (1)”, insert “or (1A)”;

in subsection (4)(b), after “subsection (1)”, insert “or (1A), as the case may be”; and

replace subsection (5) with —“(5) Any individual who commits an offence under subsection (1) shall be liable on conviction to a fine not exceeding $500,000 or to imprisonment for a term not exceeding 10 years or to both.(6) Any individual who commits an offence under subsection (1A) shall be liable on conviction —

in a case mentioned in subsection (1A)(b)(i), to a fine not exceeding $250,000 or to imprisonment for a term not exceeding 5 years or to both; or

in a case mentioned in subsection (1A)(b)(ii), to a fine not exceeding $150,000 or to imprisonment for a term not exceeding 3 years or to both.(7) Any person who is not an individual who commits an offence under subsection (1) or (1A) shall be liable on conviction to a fine not exceeding $1 million or twice the value of the benefits from criminal conduct in respect of which the offence was committed, whichever is higher.”.