Section 59A: Provisions relating to anti-money laundering and combating

59A. Provisions relating to anti-money laundering and combating financing of terrorism (1) Every internal controller or auditor of a credit union shall – (a) as soon as practicable but not later than 15 working days from the day on which he becomes aware of a transaction which he has reason to believe may be a suspicious transaction, make a report to the FIU of such transaction; and (b) provide to the FIU and to the Registrar such information as they may require regarding the transaction. (2) The Registrar shall ensure that – (a) every internal controller and auditor complies with subsection (1); and (b) every credit union complies with the relevant guidelines issued by the FIU. (3) The Bank of Mauritius may provide the Registrar such technical support and assistance, as he may require, in the licensing, regulating and supervision of credit unions. (4) In this section – “FIU” has the same meaning as in the Financial Intelligence and Anti-Money Laundering Act; “suspicious transaction” has the same meaning as in the Financial Intelligence and Anti-Money Laundering Act.