Key Benefits:
3. Establishment of Agency
(1) There is hereby established an Agency, to be called the Financial Intelligence Agency which shall consist of a Director and such other officers of the Agency, as may be necessary for the proper performance of the functions of the Agency.
(2) The Minister may appoint a Director and subject to section 5, no person shall be appointed Director unless he or she possesses such qualifications as the Committee may determine.
(3) The Agency shall be a public office andaccordingly, the provisions of the Public Service Act shall with such modifications as may be necessary, apply to the Director and to officers of the Agency.
(4) Subject to the provisions of this Act, the Agency shall not, in the performance of its functions, be subject to the direction or control of any other person or authority.
(1) The Agency shall be the central unit responsible for requesting, receiving, analysing and disseminating to an investigatory authority, supervisory authority or comparable body, disclosures of financial information-
(a) concerning suspicious transactions;
(b) required by or under any enactment in order to counter financial offences;or
(c) concerning the financing of any activities or transactions related to terrorism.
(2) For the purposes of subsection (1), the Agency shall-
(a) collect, process, analyse and interpret all information disclosed to it and obtained by it under this Act;
(b) inform, advise and collaborate with an investigatory authority or supervisory authority in accordance with this Act;
(c) forward financial intelligence reports to an investigatory authority;
(d) conduct examinations of a specified party to ensure compliance with this Act by the specified party;
(e) give guidance to a specified party regarding the performance by the specified party of duties under this Act;
(f) provide feedback to a specified party regarding a report made in accordance with this Act;and
(g) exchange information with a comparable body.
(3) In furtherance of the functions of the Agency, the Director may consult with and seek such guidance from law enforcement officers, government agencies and such other persons as the Agency considers desirable.
5. Security screening of Director, etc.
(1) No person shall be appointed as Director or officer of of the Agency unless-
(a) a security screening investigation with respect to that person has been conducted by the Directorate;and
(b) the Directorate is satisfied that the person may be so appointed without the possibility of such a person posing a security risk or acting in a manner prejudicial to the objectives or functions of the Agency.
(2) The Directorate shall, where it is satisfied that a person meets the requirements set out in subsection (1), issue a certificate with respect to the person in which it is certified that such a person has passed a security clearance.
(3) The Director or officer of the Agency may at any time determined by the Minister, be subjected to a further security screening investigation in accordance with subsection (1).
(4) The Directorate shall withdraw a certificate issued under subsection (2) where an investigation under subsection (3) reveals that the Director or officer is a security risk or has acted in a manner prejudicial to the objectives or functions of the Agency.
(5) Where the Directorate withdraws a certificate issued under sub-section (2)-
(a) the Director or officer shall not perform any functions of the Agency;
(b) the office of the Director or of the officer shall become vacant; and
(c) a new Director or officer shall be appointed.
