Section 2: Interpretation

2. Interpretation In this Act— “annual report” means the annual report under section 29C; “ARID” means the Asset Recovery Investigative Division set up under section 5 of the Asset Recovery Act; “bank”— (a) has the same meaning as in the Banking Act; and (b) includes— (i) a moneylender; (ii) — (iii) any person carrying on non-bank deposit taking business, licensed under the Banking Act; “Bank of Mauritius” means the Bank of Mauritius established under the Bank of Mauritius Act; “banking laws” has the same meaning as in the Banking Act; “Board” means the Board of the Financial Intelligence Unit set up under section 12; “cash”— (a) means money in notes or coins of Mauritius or in any other currency; and (b) includes any cheque which is neither crossed nor made payable to order, whether in Mauritian currency or in any other currency; [Issue 9] F8 – 2 Revised Laws of Mauritius “cash dealer” has the same meaning as in the Banking Act; “Code of Corporate Governance” has the same meaning as in the Financial Reporting Act; “Commission” means the Independent Commission against Corruption established under the Prevention of Corruption Act; “comparable body” means an overseas Government agency with functions similar to those of FIU; “crime”— (a) means an offence punishable by— (i) penal servitude; (ii) imprisonment for a term exceeding 10 days; (iii) a fine exceeding 5,000 rupees; (b) includes— (i) an activity carried on outside Mauritius and which, had it taken place in Mauritius, would have constituted a crime; and (ii) an act or omission which occurred outside Mauritius but which, had it taken place in Mauritius, would have constituted a crime; “Director” means the Director of FIU appointed under section 9 (2); “Enforcement Authority” has the same meaning as in the Asset Recovery Act; “estimates of expenditure” has the same meaning as in the Finance and Audit Act; “estimates of income” has the same meaning as in the Finance and Audit Act; “exempt transaction” means a transaction— (a) between the Bank of Mauritius and any other person; (b) between a bank and another bank; (c) between a bank and a financial institution; (d) between a bank or a financial institution and a customer where— (i) the transaction does not exceed an amount that is commensurate with the lawful activities of the customer, and— (A) the customer is, at the time the transaction takes place, an established customer of the bank or financial institution; and F8 – 3 [Issue 9] Financial Intelligence and Anti-Money Laundering Act (B) the transaction consists of a deposit into, or withdrawal from, an account of a customer with the bank or financial institution; or (ii) the chief executive officer or chief operating officer of the bank or financial institution, as the case may be, personally approves the transaction in accordance with any guidelines, instructions or rules issued by a supervisory authority in relation to exempt transactions; or (e) between such other persons as may be prescribed; “financial institution” means an institution, or a person, licensed or registered or required to be licensed or registered under— (a) section 14, 77, 77A or 79A of the Financial Services Act; (b) the Insurance Act; (c) the Securities Act; or (d) the Captive Insurance Act; “financial services” has the same meaning as in the Financial Services Act; “Financial Services Commission” means the Commission established under the Financial Services Act; “financial statements”, in relation to a financia d; “financial institution” means an institution, or a person, licensed or registered or required to be licensed or registered under— (a) section 14, 77, 77A or 79A of the Financial Services Act; (b) the Insurance Act; (c) the Securities Act; or (d) the Captive Insurance Act; “financial services” has the same meaning as in the Financial Services Act; “Financial Services Commission” means the Commission established under the Financial Services Act; “financial statements”, in relation to a financial year— (a) means— (i) a statement of financial position; (ii) a statement of financial performance; (iii) a statement of changes in net assets or equity; (iv) a cash flow statement; and (v) a statement of comparison of annual estimates and actual amounts; and (b) includes notes, comprising a summary of significant accounting policies and other explanatory notes; “financial year” has the meaning assigned to it by section 2A of the Finance and Audit Act; “FIU” means the Financial Intelligence Unit established under section 9 (1); “IFAC” has the same meaning as in the Financial Reporting Act; “investigatory authorities” means the Commissioner of Police, the Mauritius Revenue Authority, the ARID and the Commission; “Mauritius Revenue Authority” means the Mauritius Revenue Authority established under the Mauritius Revenue Authority Act; “member of a relevant profession or occupation” means a person specified in the first column of Part I of the First Schedule; [Issue 9] F8 – 4 Revised Laws of Mauritius “Minister” means the Minister to whom responsibility for the subject of money laundering is assigned; “money laundering offence” means an offence under Part II of this Act; “National Committee” means the National Committee for Anti-Money Laundering and Combating the Financing of Terrorism established under section 19A; “officer” includes a director, an employee, an agent, a legal representative and, in relation to the powers of the ARID under the Asset Recovery Act, includes the Chief Investigating Officer; “overseas country” means a country or territory outside Mauritius; “overseas financial intelligence units” means the financial intelligence units constituted in the overseas countries specified in Part II of the First Schedule and whose functions correspond to some or all of those of FIU; “property”— (a) means property of any kind, nature or description, whether movable or immovable, tangible or intangible; and (b) includes— (i) any currency, whether or not the currency is legal tender in Mauritius, and any bill, security, bond, negotiable instrument or any instrument capable of being negotiated which is payable to bearer or endorsed payable to bearer, whether expressed in Mauritius currency or otherwise; (ii) any balance held in Mauritius currency or in any other currency in accounts with any bank which carries on business in Mauritius or elsewhere; (iii) any balance held in any currency with any bank outside Mauritius; (iv) motor vehicles, ships, aircraft, boats, works of art, jewellery, precious metals or any other item of value; and (v) any right or interest in property; “regulatory body”, in relation to the member of a relevant profession or occupation or an entity specified in the first column of Part I of the First Schedule, means the corresponding body or person specified in the second column of Part I of that Schedule; “relevant enactments” means this Act, the Banking Act, the Bank of Mauritius Act, the Financial Services Act and the Preven boats, works of art, jewellery, precious metals or any other item of value; and (v) any right or interest in property; “regulatory body”, in relation to the member of a relevant profession or occupation or an entity specified in the first column of Part I of the First Schedule, means the corresponding body or person specified in the second column of Part I of that Schedule; “relevant enactments” means this Act, the Banking Act, the Bank of Mauritius Act, the Financial Services Act and the Prevention of Corruption Act; “supervisory authorities”— (a) means— (i) the Bank of Mauritius; (ii) the Financial Services Commission; F8 – 5 [Issue 9] Financial Intelligence and Anti-Money Laundering Act (b) includes a regulatory body specified in the second column of Part I of the First Schedule; “suspicious transaction” means a transaction which— (a) gives rise to a reasonable suspicion that it may involve— (i) the laundering of money or the proceeds of any crime; or (ii) funds linked or related to, or to be used for, terrorist financing or by proscribed organisations, whether or not the funds represent the proceeds of a crime; (b) is made in circumstances of unusual or unjustified complexity; (c) appears to have no economic justification or lawful objective; (d) is made by or on behalf of a person whose identity has not been established to the satisfaction of the person with whom the transaction is made; or (e) gives rise to suspicion for any other reason; “transaction” includes— (a) opening an account, issuing a passbook, renting a safe deposit box, entering into a fiduciary relationship or establishing any other business relationship, whether electronically or otherwise; and (b) a proposed transaction. [S. 2 amended by s. 54 (2) of Act 23 of 2003 w.e.f. 28 April 2004; s. 3 (a) of Act 34 of 2003 w.e.f. 27 September 2003; s. 13 (a) of Act 14 of 2005 w.e.f. 10 November 2004; s. 156 (2) of Act 22 of 2005 w.e.f. 28 September 2007; s. 166 (3) of Act 9 of 2007 w.e.f. 6 December 2007; s. 97 (3) of Act 14 of 2007 w.e.f. 28 September 2007; s. 14 (a) of Act 17 of 2007 w.e.f. 22 August 2007; s. 15 of Act 14 of 2009 w.e.f 30 July 2009; s. 11 (a) of Act 20 of 2011 w.e.f. 16 July 2011; s. 11 of Act 38 of 2011 w.e.f. 15 December 2011; s. 11 (a) of Act 27 of 2012 w.e.f. 22 December 2012; s. 17 (a) of Act 27 of 2013 w.e.f. 21 December 2013; s. 10 (1) (a) of Act 29 of 2015 w.e.f. 26 January 2016; s. 22 (a) of Act 18 of 2016 w.e.f. 7 September 2016.] PART II – MONEY LAUNDERING OFFENCES