Section 19Y: Application of Sub-part
This section is inserted by Act No 9 of 2019, section 10.
consolidated text (as at 2016, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
19Y. Application of Sub-part
This Sub-part shall apply, with such modifications
and adaptations as may be necessary, for the review of the
decision of –
(a) the Financial Reporting Council under section 23A
of the Financial Reporting Council; and
(b) the Registrar under section 14K of the
Registration of Associations Act.
(r) in section 21 –
(i) in the heading, by adding the words “or Registrars”;
(ii) in subsection (1) –
(A) in paragraph (a), by inserting, after the words
“any of the supervisory authorities”, the words
“or Registrars”;
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(B) by inserting, after the words “of the supervisory
authorities”, the words “or Registrars”;
(C) by adding the words “or Registrar”;
(iii) by inserting, after subsection (1), the following new
subsection –
(1A) FIU may, at the request of any supervisory
authority and for the sole purpose of assisting the
supervisory authority to discharge its compliance
functions, provide it with a copy of the suspicious
transaction report made under section 14(1).
(s) in section 22 –
(i) in the heading, by adding the words “or Registrars”;
(ii) in subsection (1), by inserting, after the words
“supervisory authority” wherever they appear, the
words “or Registrar”;
(t) in section 31, by adding the following new subsection –
(4) Any person referred to in subsection (1) who
contravenes this section shall commit an offence and shall,
on conviction, be liable to a fine not exceeding one million
rupees and to imprisonment for a term not exceeding 2 years.
(u) in section 32, by adding the following new subsection, the
existing provision being numbered as subsection (1) –
(2) No action shall lie against the Review Panel or
any member of the Review Panel, in respect of any act done
or omission made by it or any member, in good faith, in the
exercise of its or his functions conferred under this Act or
under any other enactment.
(v) in section 35(2), by deleting the words “proliferation offences”
and replacing them by the words “proliferation financing”;
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(w) in the First Schedule –
(i) in Part I –
(A) by deleting items 4, 5 and 6 and their corresponding
entries and replacing them by the following items
and their corresponding entries –
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Questions this section answers
- Does the Review Panel also review decisions of the Financial Reporting Council and the Registrar of Associations?