32. Amendment of section 28 of the principal enactment

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

Section 28 of the principal enactment is hereby amended as follows: -

(1)

in subsection (1) of that section, by the substitution for all the words from “is guilty of an offence”, to the end of that subsection, of the words

“commits an offence and shall, on conviction by a Magistrate, be liable to a fine not exceeding ten million rupees or to imprisonment of either

“Arriving in or leaving Sri

Lanka with more than the specified sum without reporting to be an offence.

Financial Transactions Reporting description for a term not exceeding one year, or to both such fine and imprisonment.”;

(2)

in subsection (2) of that section –

(a)

by the substitution for the words “an offence constituting an unlawful activity or an offence of money laundering or financing of terrorism or”, of the words

“an offence constituting an unlawful activity or an offence of money laundering or terrorist financing or financing of proliferation of weapons of mass destruction or”; and

(b)

by the substitution for the words “the person is guilty of an offence punishable on conviction to a fine not exceeding five hundred thousand rupees or”, of the words “such person commits an offence and shall, on conviction by a Magistrate, be liable to a fine not exceeding ten million rupees or to”;

(3)

in subsection (3) of that section, by the substitution for the words and figures “any person who does not comply with subsection (2) of section 18 is guilty of an offence and shall be punishable on conviction to a fine not exceeding five hundred thousand rupees or”, of the words and figures

“does not comply with subsection (2) of section 18, such person commits an offence and shall, on conviction by a Magistrate, be liable to a fine not exceeding ten million rupees or to”;

(4)

by the repeal of subsection (4) of that section and the substitution therefor, of the following subsection: -

“(4) If a person forges, conceals or does any other act to affect the authenticity or integrity of any document or material, knowing or having reason to believe that such document or material is relevant to an investigation into an offence under the

Prevention of Money Laundering Act,

No. 5 of 2006 or the Convention on the

Suppression of Terrorist Financing Act, No.

25 of 2005 or the offence of financing of proliferation of weapons of mass destruction, such person commits an offence and shall, on conviction by a Magistrate, be liable to a fine not exceeding ten million rupees or to imprisonment of either description for a term not exceeding one year, or to both such fine and imprisonment.”;

(5)

by the repeal of subsection (5) of that section and the substitution therefor, of the following subsection: -

“(5) If any person destroys or otherwise disposes of any document or material which such person knows or has reason to believe is relevant to an investigation into an offence under the Prevention of Money Laundering

Act, No. 5 of 2006 or the Convention on the Suppression of Terrorist Financing Act,

No. 25 of 2005 or the offence of financing of proliferation of weapons of mass destruction, such person commits an offence and shall, on conviction by a Magistrate, be liable to a fine not exceeding ten million rupees or to imprisonment of either description for a term not exceeding one year, or to both such fine and imprisonment.”;

Financial Transactions Reporting

(6)

by the repeal of subsection (6) of that section, and the substitution therefor, of the following subsections: -

“(6) A person who opens, operates or authorizes the opening or the operation of an account with an Institution in a fictitious or false name or furnishes false information when opening or operating an account with an Institution, commits an offence and shall, on conviction by a Magistrate, be liable to a fine not exceeding ten million rupees or to imprisonment of either description for a term not exceeding two years, or to both such fine and imprisonment.

(7)

If any person without reasonable cause refuses or fails to furnish any information required to be furnished under paragraph (c) of subsection (1) of section 15, such person commits an offence and shall, on conviction by a Magistrate, be liable to a fine not exceeding ten million rupees or to imprisonment of either description for a term not exceeding one year or to both such fine and imprisonment.”; and

(7)

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

“Giving false information etc.

an offence.”.

Read on from s 33