7. Amendment of section 5 of the principal enactment

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

Section 5 of the principal enactment is hereby amended as follows: -

Financial Transactions Reporting

(1)

in paragraph (b) of that section, by the substitution for the words “the source of funds,”, of the words

“the source of funds; and”;

(2)

by the addition immediately after paragraph (b)

of that section, of the following new paragraph: -

“(c) ensure that documents, information or data collected through customer due diligence process are kept up-to-date and relevant by reviewing existing records,”; and

(3)

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

“Ongoing due diligence of customers and scrutiny of transactions.”.

Read on from s 8