Proceeds of Crime Amendment Act 1999
PROCEEDS OF CRIME AMENDMENT ACT 1 9 9 9
1
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[REPEALED BY 2000:35 EFFECTIVE 1 JUNE 2001]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
2
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4 The Schedule to the principal Act is repealed.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.