Section 108C: Suspicious transactions

108C. Suspicious transactions A speci(cid:191)ed licensee shall, as soon as practicable but not later than 15 working days from the date on which it becomes aware of a transaction which it has reason to believe is a suspicious transaction, make a report of such transaction to the FIU. (w) in section 109 – (i) by repealing subsection (4) and replacing it by the following subsection – (4) The Authority shall have access to the central electronic monitoring system and may impose on a licensee such conditions as may be necessary to ensure compliance with this section. (ii) in subsection (5), by deleting the words (cid:179)computer used by a bookmaker for his betting operations(cid:180) and replacing them by the words (cid:179)including any software used by a licensee for his betting operations,(cid:180)(cid:30) (x) in section 119 – (i) in subsection (2), by deleting the words (cid:179)the licensee(cid:180) and replacing them by the words (cid:179)that person(cid:180)(cid:30) (ii) in subsection (3), by deleting the words (cid:179)last day of the period(cid:180) and replacing them by the word (cid:179)year(cid:180)(cid:30) (iii) by adding the following new subsection – (5) In this section – (cid:179)year(cid:180) has the same meaning as in the Income Tax Act. 198 Acts 2017 (y) in section 119A – (i) in the heading, by deleting the words (cid:179)last day of the period(cid:180) and replacing them by the words (cid:179)year(cid:180)(cid:30) (ii) in subsection (1), by deleting the words (cid:179)last day of the period(cid:180) and replacing them by the words (cid:179)year(cid:180)(cid:30) (iii) by adding the following new subsection – (4) In this section – (cid:179)year(cid:180) has the same meaning as in the Income Tax Act. (z) in section 121 – (i) in subsection (1), by deleting the words (cid:179)registered post(cid:180) and replacing them by the words (cid:179)registered post or electronic submission(cid:180)(cid:30) (ii) in subsection (5), by inserting, after the words (cid:179)subsection (2)(cid:180), the words (cid:179)or (2A)(cid:180)(cid:30) (za) in section 123, by inserting, after subsection (1), the following new subsection – (1A) (a) Where a person has lodged written representations under subsection (1) in respect of a decision under section 121(5), and prior to the date (cid:191)xed for hearing – (i) he complies with the provisions of section 121(2) or (2A), as the case may be(cid:30) (ii) informs the Assessment Review Committee, in writing, with copy addressed to the Director-General, that he has complied with section 121(2) or (2A), as the case Acts 2017 199 may be, and wishes his objection to be considered anew by the DirectorGeneral(cid:30) and (iii) withdraws his representations before the Assessment Review Committee, the Director-General shall consider the objection as from the date the person withdraws his representations before the Assessment Review Committee. (b) Notwithstanding section 122(5), the objection shall be determined within 4 months from the date on which the person withdraws his representations before the Assessment Review Committee. (zb) in section 164(2)(aa)(ii), by deleting the words (cid:179)betting games(cid:180) and replacing them by the word (cid:179)gambling(cid:180)(cid:30) (zc) in section 165 – (i) by repealing subsections (13) and (14) and replacing them by the following subsections – (13) Where any duty and tax outstanding as at 8 June 2017 is fully paid by a person on or before 31 May 2018, any penalt 4 months from the date on which the person withdraws his representations before the Assessment Review Committee. (zb) in section 164(2)(aa)(ii), by deleting the words (cid:179)betting games(cid:180) and replacing them by the word (cid:179)gambling(cid:180)(cid:30) (zc) in section 165 – (i) by repealing subsections (13) and (14) and replacing them by the following subsections – (13) Where any duty and tax outstanding as at 8 June 2017 is fully paid by a person on or before 31 May 2018, any penalty and interest leviable shall be waived, provided that an application for the reduction is made to the Director-General on or before 31 March 2018. (14) (a) Where tax arrears outstanding as at 8 June 2017 are fully paid by a person on or before 31 May 2018, any penalty and interest included in the tax arrears shall be reduced by 100 per cent, provided that an application for the reduction is made to the Director-General on or before 31 March 2018. 200 Acts 2017 (b) In paragraph (a) – (cid:179)tax arrears(cid:180) – (a) means tax and penalty due and payable under an assessment issued or a return submitted on or before 30 June 2015(cid:30) but (b) does not include tax due under an assessment in respect of which representations are pending before the Assessment Review Committee, or an appeal is pending before the Supreme Court or Judicial Committee of the Privy Council. (ii) by repealing subsection (15)(cid:30) (iii) in subsection (16), by deleting the words (cid:179)(13) to (15)(cid:180) and replacing them by the words (cid:179)(13) and (14)(cid:30) (zd) in the Third Schedule – (i) in the heading, by inserting, after the words (cid:179)29C(3)(cid:180), the words (cid:179), 29F(2)(cid:180)(cid:30) (ii) under CATEGORY 6 – (A) by deleting the following item and its corresponding entries – (j) Pool collector 190 Yearly or part licence thereof and replacing it by the following item and its corresponding entries– (j) Amusement 15,000 Yearly or part machine thereof operator licence Acts 2017 201 (B) by adding the following new items and their corresponding entries – (k) Amusement 10,000 Yearly or part machine licence thereof (l) Pool collector 190 Yearly or part licence thereof (ze) in the Fifth Schedule – (i) in Part I, under CATEGORY 6 – (A) by deleting the following item and its corresponding entries – Limited 10 per cent of 20 days after the payout gross takings end of every machine per machine or month operator 500,000 rupees, whichever is the higher and replacing it by the following item and its corresponding entries – Limited 10 per cent of 20 days after the payout gross takings end of every machine per machine or month operator 5,000 rupees, whichever is the higher (B) by adding the following new item and its corresponding entries – Amusement 5,000 rupees 20 days after the machine end of every operator month 202 Acts 2017 (ii) in Part II, in CATEGORY 6 – (A) in item (1), in the second column, by deleting the words (cid:179)betting tax(cid:180) and replacing them by the words (cid:179)sweepstake duty(cid:180)(cid:30) (B) in item (2), in the second column, by deleting the word (cid:179)tax(cid:180) and replacing it by the word (cid:179)duty(cid:180)(cid:30) (C) in item (4), in the second column, by deleting the words (cid:179)Total amount staked by players less winnings(cid:180) and replacing them by the words (cid:179)Total amount staked by players, excluding gaming tax, less winnings payable(cid:180). them by the words (cid:179)sweepstake duty(cid:180)(cid:30) (B) in item (2), in the second column, by deleting the word (cid:179)tax(cid:180) and replacing it by the word (cid:179)duty(cid:180)(cid:30) (C) in item (4), in the second column, by deleting the words (cid:179)Total amount staked by players less winnings(cid:180) and replacing them by the words (cid:179)Total amount staked by players, excluding gaming tax, less winnings payable(cid:180).