Precious Stones and Precious Metals (Prevention of Money Laundering, Terrorism Financing and Proliferation Financing) Act 2019 · 2020 Revised Edition · Part 3 · Prevention of Money Laundering, Terrorism Financing and Financing of Proliferation of Weapons of Mass Destruction
21. Disclosure of suspicious transactions, etc.
Feedback & supportA regulated dealer must, if circumstances exist that require the regulated dealer to do so, make a disclosure under whichever of the following is applicable: (a)section 45(1) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992;
regulated dealer
“regulated dealer” means any person who carries on —(a)a business of regulated dealing; or(b)business as an intermediary for regulated dealing,but excludes a pawnbroker and any other person as may be prescribed;
section 8 or 10 of the Terrorism (Suppression of Financing) Act 2002.
A regulated dealer must, at the time of disclosing a matter under subsection (1) or immediately thereafter, submit a copy of the information so disclosed to the Registrar.
Registrar
“Registrar” means the Registrar of Regulated Dealers appointed under section 4(1);
A regulated dealer who fails to comply with subsection (2) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000.