Proceeds of Crime Amendment Act 1999

Link to law: http://www.bermudalaws.bm/Laws/Annual%20Laws/1999/Acts/Proceeds%20of%20Crime%20Amendment%20Act%201999.pdf

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Proceeds of Crime Amendment Act 1999

PROCEEDS OF CRIME AMENDMENT ACT 1 9 9 9



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BERMUDA

1999 : 39

PROCEEDS OF CRIME AMENDMENT ACT 1999

[Date of Assent 23 September 1999]

[Operative Date: Notice in Gazette]

[REPEALED BY 2000:35 EFFECTIVE 1 JUNE 2001]

WHEREAS it is expedient to amend the Proceeds of Crime Act

1997:

Be it enacted by The Queen's Most Excellent Majesty, by and

with the advice and consent of the Senate and the House of Assembly of

Bermuda, and by the authority of the same, as follows:

Citation

1 This Act may be cited as the Proceeds of Crime Amendment Act

1999.

Amendment of section 3 of principal Act

2 Section 3 of the Proceeds of Crime Act 1997 ("the principal Act")

is amended by deleting the definition of "relevant offence" and

substituting the following—

" "relevant offence" means—

(a) any indictable offence in Bermuda other than a drug

trafficking offence; or

(b) any act which, had it occurred in Bermuda after the day

on which this paragraph comes into operation, would


PROCEEDS OF CRIME AMENDMENT ACT 1 9 9 9



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have constituted an indictable offence other than a drug

trafficking offence if the proceeds derived from that act

are brought to Bermuda within three years after the act

was done.".

Insertion of new section 49A in principal Act

3 The principal Act is amended by inserting next after section 49

the following—

"Use of guidance notes

49A In determining whether a person has committed an

offence under this Act the court shall take account of any

relevant guidance issued by the National Anti-Money Laundering

Committee.".

Repeal of Schedule to principal Act

4 The Schedule to the principal Act is repealed.

Commencement

5 This Act comes into operation on such day as the Minister of

Finance may appoint by notice published in the Gazette.