10. Amendment of section 8 of the principal enactment

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

Section 8 of the principal enactment is hereby amended as follows: -

(1)

by the re-numbering of that section as subsection (1) of that section;

(2)

in the re-numbered subsection (1) of that section –

(a)

in paragraph (a) of that subsection, by the substitution for all the words from “property derived from” to the end of that paragraph and the substitution therefor, of the words

“property related to terrorism;”;

Financial Transactions Reporting

(b)

by the repeal of paragraph (b) of that subsection and the substitution therefor, of the following paragraph: -

“(b) the existence of any property related to terrorism in such person’s ownership, possession or control, if such property is owned, possessed or controlled by or on behalf of a specified individual or entity or for which there are reasonable grounds for suspicion that it is owned, possessed or controlled by or on behalf of a specified individual or entity;”;

(c)

in paragraph (c) of that subsection, by the substitution for all the words from “property derived from” to the end of that paragraph and the substitution therefor, of the words

“property related to terrorism; or”;

(d)

in paragraph (d) of that subsection, by the substitution for all the words from “property derived from” to the end of that paragraph and the substitution therefor, of the words

“property related to terrorism.”;

(3)

by the addition immediately after the re-numbered subsection (1) of that section, of the following new subsection: -

“(2) For the purposes of this section,

“property related to terrorism” means –

(a)

proceeds from the commission of a terrorist act;

(b)

property which has been, or is being, or is likely to be used to commit, or which is incidental to the commission of, a terrorist act;

(c)

property which has been, or is being, or is likely to be used by a terrorist group;

(d)

property owned or controlled by or on behalf of a terrorist group; or

(e)

property which has been collected for the purpose of providing support to a terrorist group for funding a terrorist act.”; and

(4)

by the repeal of the marginal note to that section and the substitution therefor, of the following marginal note: -

“Duty to disclose information relating to property related to terrorism.”.

Read on from s 11