Section 113C: Registration of Money Laundering Reporting

113C. Registration of Money Laundering Reporting Officer, Deputy Money Laundering Reporting Officer and Compliance Officer (1) (a) Every licensee referred to in item 7 of Part I of the First Schedule to the Financial Intelligence and Anti-Money Laundering Act shall, with the approval of the Authority and on such terms and conditions as it may determine, appoint a Money Laundering Reporting Officer, Deputy Money Laundering Reporting Officer or Compliance Officer. 384 Acts 2024 (b) Where the Authority objects to a proposed appointment under paragraph (a), it shall give the licensee an opportunity to make representations within such reasonable time as the Authority may determine. (c) The Authority may, after having considered the representations under paragraph (b), withdraw its objection to the proposed appointment. (2) Every licensee falling under item 7 of Part I of the First Schedule to the Financial Intelligence and Anti-Money Laundering Act shall notify the Authority within 7 days of any removal or resignation of its Money Laundering Reporting Officer, Deputy Money Laundering Reporting Officer or Compliance Officer and shall provide particulars of such removal or resignation as the Authority may require. (3) Any person acting as Money Laundering Reporting Officer, Deputy Money Laundering Reporting Officer and Compliance Officer shall be a natural person.