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srilawsby aturio
As enacted
Contents

Part IV · Functions of Supervisory Authority of an Institution and Auditors

22. Functions of supervisory authority or auditor under this Act

Official English translation. The Sinhala text prevails.

(1)

Where a supervisory authority or an auditor of an

Institution has reasonable grounds to suspect that information that it has concerning any transaction or attempted transaction may, be —

(a)

relevent to an investigation or prosecution of a person or persons for any unlawful activity ;

(b)

of assistance in the enforcement of the provisions of the Prevention of Money Laundering Act, No. 5

of 2006 and the Convention on the Suppression of

Terrorist Financing Act, No. 25 of 2005 ;

(c)

related to the commission of any offence constituting an unlawful act ; or

(d)

preparatory to the offence of the financing of terrorism, the supervisory authority or the auditor of the Institution shall report the transaction or attempted transaction to the

Financial Intelligence Unit.

(2)

The supervisory authority shall at the request of the

Financial Intelligence Unit carry out any examination into any transaction or other matter relating to the Institution and report on such examination to the Financial Intelligence

Unit.

Financial Transactions Reporting

(3)

The Financial Intelligence Unit shall consult the supervisory authority in respect of the issue of guidelines, directions or regulations to an Institution which is regulated by such supervisory authority and shall furnish to the supervisory authority copies of all guidelines, regulation or directions issued to such Institution.

Read on from s 23

Part V

Currency Reporting at the Border

Read on from Part V

Part VI

Offences and Liabilities

Read on from Part VI

Part VII

Miscellaneous

Read on from Part VII