Section 43A: Frequency of inspections

43A. Frequency of inspections (ii) in subsection (1), by deleting the words “of an on-site” and replacing them by the words “and intensity of an”; (iii) by adding the following new subsection – (3) For the purpose of subsection (1)(a), a licensee shall furnish the Commission any information relating to its business or to the business administered or managed by it for its clients to assess the risks of money laundering, terrorist financing and proliferation financing, at such intervals and within such time as the Commission may require. (c) in section 44, in subsection (8), by adding the following new paragraph – (c) Any person who fails, without reasonable excuse, to attend before an investigator when summoned in accordance with subsection (3)(e), shall commit an offence and shall, on conviction, be liable to a fine not exceeding 500,000 rupees and to imprisonment for a term not exceeding 5 years. (d) in section 50, in subsection (1), by inserting, after the words “in a financial crime”, the words “in Mauritius or another jurisdiction”; (e) in section 53, in subsection (1)(a)(ii), by deleting the words “is carrying” and replacing them by the words “has carried or is carrying”;