Chapter 10:11 - Anti-Money Laundering and Countering the Financing of Terrorism

Link to law: http://legalaffairs.gov.gy/information/laws-of-guyana/479-chapter-1011-anti-money-laundering-and-countering-the-financing-of-terrorism/file

L.R.O. 1/ 2012
LAWS OF GUYANA
ANTI-MONEY LAUNDERING AND COUNTERING THE
FINANCING OF TERRORISM ACT
CHAPTER 10:11
Act
13 of 2009
Amended by
15 of 2010
Current Authorised Pages
Pages
(inclusive)
Authorised
by L.R.O.
1 – 178 ... 1/2012
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Note
on
Subsidiary Legislation
Page
Anti-Money Laundering and Countering the Financing of
Terrorism (Extension of Time for Verification of Identity) Order
158
(O. 5/2010)
Anti-Money Laundering and Countering the Financing of
Terrorism (Extension of Time for Verification of Identity)(No.2)
Order
158
(O. 18/2010)
Anti-Money Laundering and Countering the Financing of
Terrorism (Extension of Time for Verification of Identity)(No.3)
Order
159
(O. 66/2010)
Anti-Money Laundering and Countering the Financing
of Terrorism Regulations
160
(Reg. 4/2010)

Note
on
Repeal
This Act repealed the Money Laundering (Prevention) Act 2000.
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CHAPTER 10:11
ANTI-MONEY LAUNDERING AND COUNTERING
THE FINANCING OF TERRORISM ACT

ARRANGEMENT OF SECTIONS
SECTION
PART I
PRELIMINARY
1. Short title..
2. Interpretation.
PART II
MONEY LAUNDERING PROHIBITED
3. Offence of money laundering.
4. Offence committed under section 3 by body of persons.
5. Tipping off.
6. Falsification, concealment, etc. of documents.
7. Jurisdiction.
PART III
ANTI-MONEY LAUNDERING AND COUNTERING THE FINANCING
OF TERRORISM SUPERVISION
8. Director of the Financial Intelligence Unit.
9. Establishment and functions of the Financial Intelligence Unit.
10. No liability.
11. No criminal or civil liability for information.
12. Confidentiality.
13. Disclosure to foreign institutions and agencies.
14. Agreements and arrangements by the Financial Intelligence Unit.
15. Reporting entities to identify and verify identity of customer.
16. Obligations of reporting entities.
17. Minister may reduce or simplify identification and verification.
18. Reporting of suspicious transactions by reporting entities.
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SECTION
19. Requirements of reporting entity.
20. Financial institutions and money transfer agencies to include
originator information.
21. Financial Intelligence Unit's power to obtain a search warrant.
22. Role of supervisory authority.
23. Sanctions by supervisory authorities.
24. Production orders.
25. Evidential value of information.
26. Failure to comply with a production order.
27. Production orders in relation to foreign offences.
28. Power to search for and seize documents relevant to locating
property.
29. Search warrant for location of documents relevant to locating
property.
30. Search warrants in relation to foreign offences.
31. Monitoring orders.
32. Monitoring orders not to be disclosed.
33. Power to intercept communications and admissibility of intercepted
communications.
34. Mandatory injunction to enforce compliance.
35. Other measures to avoid money laundering.
36. Currency reporting when entering or leaving Guyana.
37. Seizure and detention of suspicious imports or exports of currency.
PART IV
FREEZING AND FORFEITURE OF ASSETS IN RELATION TO MONEY
LAUNDERING
38. Freezing of property.
39 Restraining orders.
40. Service of restraining order.
41. Registration of restraining order.
42. Contravention of restraining order.
43. Duration of restraining order.
44. Review of restraining order.
45. Extension of restraining order.
46. Forfeiture order on conviction.
47. Effect of forfeiture order on conviction.
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SECTION
48. Voidable transfers.
49. Protection of third parties.
50. Discharge of forfeiture order on appeal and quashing of conviction.
51. Payment instead of a forfeiture order.
52. Application of procedure for enforcing fines.
53. Forfeiture where a person dies or absconds.
54. Pecuniary penalty order on conviction.
55. Rules of determining benefit and assessing value.
56. Statements relating to benefit from commission of serious offences.
57. Amount recovered under pecuniary penalty order.
58. Variation of pecuniary penalty order.
59. Lifting the corporate veil.
60. Enforcement of pecuniary penalty order.
61. Discharge of pecuniary penalty order.
62. Appointing of receivers.
63. Powers of receivers.
64. Application of sums by receivers.
65. Rights of bona fide third parties.
66. Limitations on freezing or forfeiture of property.
PART V
COMBATING THE FINANCING OF TERRORISM
67. Seizure and detention of terrorist cash.
68. Terrorist financing.
69. Related offences in relation to terrorist financing.
70. Dealing in terrorist property.
71. Freezing of terrorist assets.
72. Application for forfeiture order.
73. Notice of application.
74. Forfeiture order for terrorist property.
75. Effect of forfeiture order in respect of terrorist property.
PART VI
INTERNATIONAL COOPERATION
76. Assistance to foreign countries.
77. Registration of external confiscation or forfeiture orders.
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SECTION
78. Evidence of corresponding law.
PART VII
CIVIL FORFEITURE
79. Interpretation.
80. Interim order.
81. Restraint order.
82. Civil forfeiture order.
83. Ancillary orders and provision in relation to certain profits or gains,
etc.
84. Order in relation to property the subject of interim order or restraint
order.
85. Receiver.
86. Provisions in relation to evidence and proceedings under this Part.
87. Affidavit specifying property and income of respondent.
88. Registration of interim orders and restraint orders.
89. Bankruptcy of respondent, etc.
90. Property subject to interim order, restraint order or disposal dealt
with by the trustees in bankruptcy.
91. Winding up of company in possession or control of property the
subject of interim order, restraint order or civil forfeiture order.
92. Immunity from proceedings.
93. Seizure of certain property.
94. Compensation.
95. Investigative powers.
96. Customer information order.
97. Requirements for making of customer information order.
98. Offences.
99. Statements.
100. Disclosure of information.
101. Supplementary for customer information order.
102. Disclosure order.
103. Requirements for making of disclosure order.
104. Offences.
105. Statements.
106. Further provisions.
107. Supplementary for disclosure order.
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SECTION
PART VIII
MISCELLANEOUS
108. Money laundering an offence for extradition purposes.
109. Moneys paid into Consolidated Fund.
110. Annual Report to Parliament.
111. Secrecy obligations overridden.
112. Disclosure protected.
113. Prosecution of offences.
114. Subsidiary legislation.
FIRST SCHEDULE
SECOND SCHEDULE
THIRD SCHEDULE
FOURTH SCHEDULE
__________________________
CHAPTER 10:11
ANTI-MONEY LAUNDERING AND COUNTERING
THE FINANCING OF TERRORISM ACT

13 of 2009
An Act to provide for the establishment and management
of a Financial Intelligence Unit; to provide for
unlawful proceeds of all serious offences to be
identified, traced, frozen, seized and forfeited; to
provide for comprehensive powers for the
prosecution of money laundering, terrorist
financing and other financial crimes; and the
forfeiture of the proceeds of crime and terrorist
property; to require reporting entities to take
preventive measures to help combat money
laundering and terrorist financing; to provide for
civil forfeiture of assets and for matters connected
therewith.
[9TH NOVEMBER 2009]
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Short title.

Interpretation.
PART I
PRELIMINARY
1. This Act may be cited as the Anti-Money
Laundering and Countering the Financing of Terrorism Act.
2. (1) In this Act, unless as otherwise provided in
respect of a word or expression defined in PART VII—
“accused” means a person charged with a serious offence,
whether or not that person has been convicted of the
offence;
“authorised officer” means a person or class of persons
designated as such by the Minister responsible for
Finance;
“business transaction” includes any arrangement, opening an
account, between two or more persons where the
purpose of the arrangement is to facilitate a transaction
between the persons concerned and any related
transaction between any of the persons concerned and
another person;
“collective investment scheme” means a scheme, in whatever
form, in pursuance of which, members of the public are
invited or permitted to invest money or other assets in a
portfolio, and which scheme has the following
characteristics—
(a) two or more investors contribute
money or other assets to hold a
participatory interest in a portfolio of
the scheme through shares, units or
any other form of participatory
interest; and

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(b) the investors share the risk and the
benefit of investment in proportion to
their participatory interest in a
portfolio of a scheme or on any other
basis determined in the deed;
“competent authority” means the Director of Public
Prosecutions, and includes any person authorised by him
in that behalf;
“Court” means the High Court;
“currency” means the coin and paper money of Guyana or of
a foreign country that is designated as legal tender and
which is customarily used and accepted as a medium of
exchange in the country of issue; monetary instruments
that may be exchanged for money (such as cheques,
travellers cheques, money orders, negotiable instruments
in a form in which title thereto passes on delivery),
jewellery, precious metals and precious stones; where the
context permits, currency includes currency in electronic
form;
“Director” means the Director of the Financial Intelligence
Unit appointed pursuant to section 8 of this Act;
“document” means any record of information and includes—
(a) anything on which there is writing;
(b) anything on which there are marks,
figures, symbols, or perforations
having meaning for persons qualified
to interpret them;
(c) anything from which sounds, images
or writing can be produced, with or
without the aid of anything else; or
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c. 85:03
First Schedule.
(d) a map, plan, drawing, photograph or
similar thing;
“Financial Intelligence Unit” means the Financial Intelligence
Unit established pursuant to section 9 of this Act;
“financial institution” means a bank or financial institution
as defined in the Financial Institutions Act or other
financial institutions as specified in the First Schedule;
“forfeiture” means the permanent deprivation of property by
order of a court;
“gift” includes any transfer of property by a person to
another person directly or indirectly—
(a) for a consideration the value of which
is significantly less than the value of
the consideration provided by the
first person; and
(b) to the extent of the difference between
the market value of the property
transferred and the consideration
provided by the transferee;
“Identification record” means any reliable and independent
source documents, data or information or other evidence
as is reasonably capable of establishing the true identity
and verifying the identity of a person transacting
business with a reporting entity, including, but not
limited to, a driving licence, a national identification
card, a passport and in the case of a body corporate, a
certified copy of the Memorandum and Articles of
Association, a certificate of incorporation, Articles of
Incorporation and by-laws of the company together with
the latest annual return to the Registrar of Companies;
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“instrumentality” means something that is used in or
intended for use in any manner in the commission of a
money laundering offence, terrorist financing offence or
proceeds of crime offence;
“interest” in relation to property, means—
(a) a legal or equitable interest in the
property; or
(b) a right, power or privilege in
connection with the property;
“magistrate” means any magistrate authorised by the Chief
Magistrate;
“Minister” means the Minister responsible for Legal Affairs,
unless specifically provided otherwise;
“money laundering” means conduct which constitutes an
offence as described under section 3;
“person” includes any entity, natural or juridical, a
corporation, partnership, trust or estate, joint stock
company, association, syndicate, joint venture, or other
unincorporated organisation or group, capable of
acquiring rights or entering into obligations;
“politically exposed person” means any individual who is or
has been entrusted with prominent public functions on
behalf of a state, including a Head of State or of
government, senior politicians, senior government,
judicial or military officials, senior executives of state
owned corporations, important political party officials,
including family members or close associates of the
politically exposed person whether that person is
resident in Guyana or not;
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First Schedule.
Second
Schedule.
“proceeds of crime” means any property derived or realised
directly or indirectly from a serious offence and includes,
on a proportional basis, property into which any
property derived or realised directly from the offence
was later converted, transformed or intermingled, as well
as income, capital or other economic gains derived or
realised from such property at any time since the offence;
“property” includes money, investments, holdings,
possessions, assets and all other property movable or
immovable, including things in action and any other
property wherever situated whether in Guyana or
elsewhere and includes any interest in such property;
“reporting entity” means any person whose regular
occupation or business is the carrying on of—
(a) any activity listed in the First
Schedule ; or
(b) any other activity defined by the
Minister responsible for Finance as
such by an order published in the
Gazette amending the First Schedule;
“serious offence” means a serious offence against a provision
of—
(a) any law in Guyana, for which the
maximum penalty is death or
imprisonment for life or other
deprivation of liberty of not less than
six months;
(b) any offence listed in Second Schedule;
or

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Second
Schedule.
Fourth
Schedule.
(c) a law of a foreign state, in relation to
an act or omission, which had it
occurred in Guyana, would have
constituted an offence for which the
maximum penalty is death, or
imprisonment for life or other
deprivation of liberty for a period of
not less than six months and includes
money laundering and terrorist
financing or an offence listed in the
Second Schedule;
“supervisory authority” means the authority set out in
column 2 of the Fourth Schedule who has compliance
oversight over the reporting entity set out in column 1 of
the Schedule,
“tainted property” means property—
(a) used in or intended for use in
connection with the commission of a
serious offence; or
(b) derived, obtained or realised as a
result of or in connection with the
commission of a serious offence;
“terrorist” means any natural person who—
(a) commits, or attempts to commit,
terrorist acts by any means, directly or
indirectly, unlawfully and wilfully;
(b) participates as an accomplice in
terrorist acts;
(c) organises or directs others to commit
terrorist acts; or
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c. 8:01
(d) contributes to the commission of
terrorist acts by a group of persons
acting with a common purpose where
the contribution is made intentionally
and with the aim of furthering the
terrorist act or with the knowledge of
the intention of the group to commit a
terrorist act;
“terrorist act” shall have the same meaning assigned to it as
in the Criminal Law (Offences) Act and includes—
(a) any act which constitutes an offence
within the scope of, and as defined in
any of the following treaties—
(i) the Convention for the
Suppression of Unlawful
Seizure of Aircraft (1970);
(ii) the Convention for the
Suppression of Unlawful Acts
against the Safety of Civil
Aviation (1971);
(iii) the Convention on the
Prevention and Punishment of
Crimes against Internationally
Protected Persons, including
Diplomatic Agents (1973);
(iv) the international Convention
against the Taking of Hostages
(1979);
(v) the Convention on the Physical
Protection of Nuclear Material
(1980);
(vi) the Protocol for the
Suppression of Unlawful Acts
of Violence at Airports Serving
International Civil Aviation,
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supplementary to the
Convention For the
Suppression of Unlawful Acts
against the Safety of Civil
Aviation (1988);
(vii) the Convention for the
Suppression of Unlawful Acts
against the Safety of Maritime
Navigation (1988);
(viii) the Protocol for the
Suppression of Unlawful Acts
against the Safety of Fixed
Platforms located on the
Continental Shelf (1988); and
(ix) the International Convention
for the Suppression of Terrorist
Bombings (1997); and
(b) any other act intended to cause death
or serious bodily injury to a civilian,
or to any other person not taking an
active part in the hostilities in a
situation of armed conflict, when the
purpose of such act, by its nature or
context, is to intimidate a population,
or to compel a Government or an
international organisation to do or to
abstain from doing any act;
“terrorist financing” in sections 67 to 75 (inclusive) means
wilfully providing or collecting funds, by any means,
directly or indirectly, with the unlawful intention that
they should be used or in the knowledge that they are to
be used in full or in part
(a) to carry out, terrorist acts;
(b) by a terrorist organisation; or
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(c) by an individual terrorist;
“terrorist group” means—
(a) an entity that has as one of its
activities and purposes, the
committing of, or the facilitation of
the commission of, terrorism; or
(b) a specified entity declared under
subsection (2);
“terrorist organisation” means any group of terrorists
that—
(a) commits, or attempts to commit,
terrorist acts by any means, directly or
indirectly, unlawfully and wilfully;
(b) participates as an accomplice in
terrorist acts;
(c) organises or directs others to commit
terrorist acts; or
(d) contributes to the commission of
terrorist acts by a group of persons
acting with a common purpose where
the contribution is made intentionally
and with the aim of furthering the
terrorist act or with the knowledge of
the intention of the group to commit a
terrorist act;
“terrorist property” means—
(a) proceeds from the commission of
terrorism;
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(b) money or other property which has
been, or is likely to be used to commit
terrorism; or
(c) money or other property which has
been, is being, or is likely to be used
by a terrorist group.
(2)(1) For the purposes of this Act, where the
Attorney General has reasonable grounds to believe that—
(a) an entity has knowingly—
(i) committed;
(ii) attempted to commit;
(iii participated in committing; or
(iv) facilitated the commission of, a
terrorist act, or
(b) an entity is knowingly acting—
(i) on behalf of;
(ii) at the direction of;
(iii) in association with,
an entity referred to in paragraph (a), the Attorney General
may recommend to the Minister responsible for Finance that
an order be made under paragraph(2) in respect of that
entity.
(2) If the Minister responsible for Finance is
satisfied that there is evidence to support a recommendation
made under paragraph (1), the Minister responsible for
Finance may, by order, declare the entity in respect of which
the recommendation has been made, to be a specified entity.
(3) Within 60 days of publication in the Gazette, a
specified entity may make an application in writing to the
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Minister responsible for Finance for the revocation of an
order made under paragraph (2) in respect of that entity.
(4) Prior to deciding on an application made under
paragraph (3) the Minister responsible for Finance shall
consult with the Attorney General.
(5) If, on an application made under paragraph (3),
the Minister responsible for Finance—
(a) decides that there are reasonable
grounds for revocation the Minister
responsible for Finance shall revoke
the order;
(b) decides that there are no reasonable
grounds for revocation, the Minister
responsible for Finance shall refuse
the application and shall, within 60
days of receiving the application
inform the applicant of the decision.
(6) Within 60 days of receiving information of the
decision referred to in paragraph (5), the applicant may
apply, by notice to the Attorney General, to a Judge of the
Court for a review of that decision.
(7) Upon an application being made under
paragraph (6), the Judge shall—
(a) examine in chambers, any security or
intelligence reports considered in
recommending or making an order
under paragraph (2) in respect of the
applicant and hear any other evidence
or information that may be presented
by or on behalf of the Attorney
General and may, at the request of the
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Attorney General, hear all or part of
that evidence or information in the
absence of the applicant or any
counsel representing the applicant, if
the Judge is of the opinion that the
disclosure of the information would
be prejudicial to national security or
endanger the safety of any person;
(b) provide the applicant with a
statement summarizing the
information available to the Judge, so
as to enable the applicant to be
reasonably informed of the reasons
for the decision, without disclosing
any information the disclosure of
which would, in the Judge's opinion,
be prejudicial to national security or
endanger the safety of any person;
(c) provide the applicant with a
reasonable opportunity to be heard;
and
(d) determine whether the decision is
reasonable on the basis of the
information available to the Judge
and, if found not to be reasonable,
make an order to that effect in which
case the Minister responsible for
Finance, unless he appeals the
decision of the Judge, shall revoke the
order made under paragraph (2) in
respect of the applicant.
(8) The Judge may receive in evidence, anything
(including information obtained from the government or
institution or agency of a foreign state or an international
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Offence of
money
laundering.
organisation), that, in the opinion of the Judge, is reliable and
relevant, even if the thing would not otherwise be admissible
in law, and may base the Court's decision on that evidence.
(9) The Attorney General shall review all the
orders made under the paragraph (2) every six months to
determine whether there are still reasonable grounds, as set
out in paragraph (1), for any such order to continue to apply
to a specified entity, and if the Attorney General determines
that there are no such reasonable grounds, shall recommend
to the Minister responsible for Finance, the revocation of the
order made under paragraph (2) in respect of that specified
entity.

PART II
MONEY LAUNDERING PROHIBITED
3. (1) A person commits the offence of money
laundering if he knowingly or having reasonable grounds to
believe that any property in whole or in part directly or
indirectly represents any person's proceeds of crime—
(a) converts or transfers property
knowing or having reason to believe
that property is the proceeds of crime,
with the aim of concealing or
disguising the illicit origin of that
property;
(b) conceals or disguises the true nature,
origin, location, disposition
movement or ownership of that
property knowing or having reason to
believe that the property is the
proceeds of crime;
(c) acquires, possesses or uses that
property, knowing or having
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reasonable grounds to believe that it
is derived directly or indirectly from
proceeds of crime; or
(d) participates in, associates with or
conspires to commit, attempts to
commit or aids and abets, counsels or
procures or facilitates the commission
of any of the above acts.
(2) For the purposes of proving a money
laundering offence under subsection (1), it is not necessary to
prove which serious offence has been committed.
(3) Knowledge, intent or purpose required as an
element of an offence in subsection (1) may be inferred from
objective factual circumstances.
(4) For the purposes of this Act it is not necessary
for any person to be convicted of a serious offence to prove
that property is the proceeds of crime.
(5) For the purposes of this Act an offence under
this section can be committed by a person who commits a
serious offence.
(6) A natural person who contravenes this section
commits an offence and shall be liable on summary
conviction to a fine of not less than one million dollars nor
more than one hundred million dollars and to imprisonment
for seven years and in the case of a body corporate to a fine
of not less than two hundred million dollars nor more than
five hundred million dollars.
(7) In the case of a body corporate subject to
criminal liability this shall not preclude the possibility of
parallel criminal, civil or administrative liability.

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Offence
committed
under section 3
by a body of
persons.
Tipping off.
Falsification,
concealment,
etc. of
documents.
Jurisdiction.
4. Where an offence under the provisions of section 3
is committed by a body of persons, whether corporate or
unincorporated, every person who, at the time of the
commission of the offence, acted in an official capacity for or
on behalf of such body of persons, whether as director,
manager, secretary or other similar officer, or was purporting
to act in such capacity, is guilty of that offence, unless he
adduces evidence to show that the offence was committed
without his knowledge, consent or connivance and that he
exercised all due diligence to prevent the commission of the
offence.
5. (1) It is an offence for a person who knows or
suspects that a suspicious transaction report or related
information is reported to the Financial Intelligence Unit, or
that an investigation into money laundering, terrorist
financing or the proceeds of crime has been, is being or is
about to be made, to divulge that fact or other information to
another whereby the investigation is likely to be prejudiced.
(2) A person who commits an offence under
subsection (1) is liable on summary conviction to a fine of
one million dollars and to imprisonment for three years.
6. (1) It is an offence for a person knowingly to falsify,
conceal, destroy or otherwise dispose of or cause or permit
the falsification, concealment, destruction or disposal of any
document or material which is or is likely to be relevant to an
investigation into money laundering, terrorist financing or
the proceeds of crime or to any order made in accordance
with the provisions of this Act.
(2) A person guilty of an offence under subsection
(1) is liable on summary conviction to a fine of one million
dollars and to imprisonment for three years.
7. Notwithstanding anything to the contrary
contained in any other law, the offences created by this Act
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Director of the
Financial
Intelligence
Unit.

Establishment
and functions of
the Financial
Intellignce Unit.
shall be tried, judged and sentenced by a court in Guyana
regardless of whether or not the serious offence occurred in
Guyana or in another territorial jurisdiction, but without
prejudice to extradition when applicable in accordance with
the law.
PART III
ANTI-MONEY LAUNDERING AND COUNTERING THE
FINANCING OF TERRORISM SUPERVISION
8. (1) The Minister responsible for Finance shall
appoint a person with expertise and experience in legal,
financial or administrative matters to be known as the
Director of the Financial Intelligence Unit to carry out the
functions of the Financial Intelligence Unit in accordance
with this Act.
(2) The Director of the Financial Intelligence Unit
may only be removed from office by the President of
Guyana.
9. (l) The Financial Intelligence Unit is established by
the Minister responsible for finance as an agency responsible
for requesting, receiving, analysing and dissemination of
suspicious transaction reports and other information relating
to money laundering, terrorist financing or proceeds of
crime.
(2) The Director shall be the chief executive officer.
(3) The Financial Intelligence Unit shall include—
(a) an attorney-at-law appointed by the
Minister responsible for Finance;
(b) an accountant appointed by the
Minister responsible for Finance; and

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(c) personnel trained in financial
investigation or other employees as
the Director considers necessary and
appointed by the Director.
(4) The Financial Intelligence Unit—
(a) shall request, receive, analyse and
assess reports of suspicious
transactions and other information
issued by reporting entities pursuant
to section 18;
(b) shall compile a report and send it to
the competent authority, if having
conducted its analysis, the Financial
Intelligence Unit has reasonable
grounds to suspect that the
transaction involves money
laundering, proceeds of crime or
terrorist financing;
(c) may send to the appropriate law
enforcement authorities, any
information derived from an
inspection carried out pursuant to
section 22, if it gives the Financial
Intelligence Unit reasonable grounds
to suspect that a transaction involves
money laundering, proceeds of crime
or terrorist financing;
(d) may instruct any reporting entity to
take such steps as may be appropriate
to facilitate any investigation
anticipated by the Financial
Intelligence Unit;

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(e) (i) shall compile statistics and
records;
(ii) shall disseminate information
within Guyana or elsewhere;
(iii) shall make recommendations
arising out of any information
received;
(iv) shall issue guidelines to
reporting entities, and advise
the Minister accordingly;
(f) may conduct research into trends and
developments in the area of money
laundering and terrorist financing
and improved ways of detecting,
preventing and deterring money
laundering and terrorist financing; or
may educate the public and create
awareness on matters relating to
money laundering or terrorist
financing;
(g) shall create training requirements and
provide such training for any
reporting entity with respect to its
identification, record-keeping and
reporting obligations provided for in
sections 15, 16, 18, 19 and 20;
(h) may consult with any relevant person,
institution or organisation for the
purpose of exercising its powers or
duties under paragraphs (a), (b), (c),
(d),(e),(f)or(g);
(i) shall conduct investigations into
money laundering, proceeds of crime
or terrorist financing for official
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purposes only;
(j) may extend legal assistance to foreign
jurisdictions with respect to
production orders, property tracking,
monitoring, forfeiture or confiscation
orders;
(k) shall have the authority to request
and receive information from any
reporting entity, any supervisory
agency and any law enforcement
agency, any other competent
authority in Guyana or elsewhere for
purposes of this Act;
(1) may periodically provide feedback to
other supervisory authorities and
other relevant agencies regarding
outcomes relating to the reports or
information given under the Act;
(m) may disclose any report, any
information derived from such report
or any other information it receives
pursuant to this section to an
institution or agency of a foreign state
or of an international organisation
established by the governments of
foreign states that has powers and
duties similar to those of the Financial
Intelligence Unit as set out in this
section and sections 13,14 and 15, if on
the basis of its analysis, assessment
and search of its files and databases,
the Financial Intelligence Unit has
reasonable grounds to suspect that a
report or information would be
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relevant to investigating or
prosecuting a money laundering
offence or terrorist financing or an
offence that is substantially similar to
either offence.
(n) may enter into any agreements or
arrangements with any international
or domestic government institution or
agency regarding the exchange of
information; or
(o) shall, in respect of the entities for
which it has been designated, exercise
the powers set out in section 18 and in
relation to this, may enter the
premises of any reporting entity
during ordinary business hours to
inspect any record kept by the
reporting entity, and ask any question
relating to such record, make notes
and take copies of whole or any part
of the record.
(5) The Director shall advise the Minister
responsible for Finance on matters relating to money
laundering or terrorist financing that may affect public policy
and national security.
(6) The funds and resources of the Financial
Intelligence Unit shall consist of such sums as may be
appropriated by Parliament.
(7) The Director shall be responsible for the control
and use of the funds and resources of the Financial
Intelligence Unit.
(8) The Director shall keep proper accounts and
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No liability.

No criminal or
civil liability for
information.

Confidentiality.

other records in relation to the Financial Intelligence Unit
and prepare in relation to each financial year a statement of
accounts within three months of the end of that financial year
and the accounts of the Financial Intelligence Unit shall be
audited by the Auditor General.
10. No action shall lie against the Director, officers or
personnel of the Financial Intelligence Unit or any person
acting under the direction of the Director for any act or
omission done in good faith, and in the discharge of any
functions under this Act.
11. (1) No proceedings for breach of professional
confidentiality may be instituted against any person or
against directors, officers or employees of a reporting entity
who in good faith transmits or submits suspicious
transactions or suspicious activity reports to the Financial
Intelligence Unit in accordance with this Act.
(2) No civil or criminal liability action may be
brought nor may any professional sanction be taken against
any person or agent of any reporting entity for breach of any
restriction on disclosure who in good faith transmits
information or submits reports to the Financial Intelligence
Unit.
12. (1) Any person who obtains information in any
form as a result of his connection with the Financial
Intelligence Unit shall not disclose that information to any
person except so far as it is required or permitted under this
Act or other written law.
(2) Any person who wilfully discloses information
to any person in contravention of subsection (1) shall be
subject to dismissal from the Financial Intelligence Unit and
is liable on summary conviction to a fine not exceeding two
million dollars and to imprisonment for a term not exceeding
four years.
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Disclosure to
foreign
institutions and
agencies.
13. The Financial Intelligence Unit may disclose any
report or information as set out under section 18 to an
institution or agency of a foreign state or of an international
organisation or body established by the governments of
foreign states that has powers and duties similar to those of
the Financial Intelligence Unit—
(a) on the terms and conditions as set out
in the agreement or arrangement
between the Financial Intelligence
Unit and the institution or agency of
that foreign state or international
organisation or body regarding the
exchange of such information under
section 14; or
(b) where such an agreement or
arrangement has not been entered
into between the Financial
Intelligence Unit and that
international organisation or body,
the Financial Intelligence Unit may
disclose any report or information to
that international organisation or
body on such terms and conditions as
may be agreed upon, where such
terms and conditions shall include the
following—
(i) restriction on the use of the
report or information to
purposes relevant to
investigating or prosecuting a
serious offence, a money
laundering offence, a terrorist
financing offence or an offence
that is substantially similar to
any of these offences; and
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Agreements and
arrangements
by the Financial
Intelligence
Unit.
(ii) the stipulation that the report
or information be treated in a
confidential manner and not be
further disclosed without the
express consent of the Financial
Intelligence Unit.
14. (l) The Financial Intelligence Unit, may enter
through the Attorney General on behalf of the Government
into an agreement or arrangement, formally or informally,
with the government of a foreign state, or may by itself enter
into such agreement with an international organisation or
body established by the governments of foreign states
regarding the exchange of reports or information between
the Financial Intelligence Unit and any institution or agency
of that state or organisation that has powers and duties
similar to those of the Financial Intelligence Unit.
(2) The information exchanged under subsection
(1) shall be information that would be relevant to
investigating or prosecuting a serious offence or a money
laundering or terrorist financing offence, or an offence that is
substantially similar to either offence.
(3) Agreements or arrangements entered into
under subsection (1) or (2) shall include the following—
(a) restrictions on the use of information
to purposes relevant to investigating
or prosecuting a serious offence, a
money laundering offence, or a
terrorist financing offence or an
offence that is substantially similar to
either offence; and
(b) the stipulation that the information be
treated in a confidential manner and
not be further disclosed without the
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Reporting
entities to
identify and
verify identity
of customer.
[15 of 2010]
express consent of the Financial
Intelligence Unit.
15. (1) Financial institutions shall not establish or keep
anonymous accounts or accounts in fictitious names.
(2) Reporting entities sha11 establish the identity
and verify the identity of any customer of the reporting
entity by requiring the applicant to produce an identification
record or such other reliable, independent source documents
as the Financial Intelligence Unit may request.
(3) The requirements of subsection (2) shall apply
where—
(a) a reporting entity establishes a
business relationship;
(b) in the absence of such a relationship, a
reporting entity conducts-
(i) any transaction in an amount
equal to or above the amount
prescribed by the Minister,
whether conducted as a single
transaction or several
transactions that appear to be
linked and where the amount
of the transaction is unknown
at the time of the transaction,
the identification and
verification shall be undertaken
as soon as the amount becomes
known or the threshold is
reached;
(ii) any wire transfer as set out in
section 20;

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(c) there is a suspicion of money
laundering or terrorist financing; or
(d) the reporting entity has doubts about
the veracity or adequacy of
previously obtained customer
identification data.
(4) Without limiting the generality of subsection
(2), a reporting entity shall—
(a) when establishing a business
relationship, obtain information on
the purpose and nature of the
business relationship;
(b) if the transaction is conducted by a
natural person, adequately identify
and verify the person's identity
including information relating to—
(i) the person’s name, date of birth
and address;
(ii) the national identification card,
passport or other applicable
official identifying document;
(c) if the transaction is conducted by a
legal entity, adequately identify the
beneficial owner, take reasonable
measures to identify and verify its
beneficial ownership and control
structure, including information
relating to—
(i) the customer’s name, legal
form, address and directors;
(ii) the principal owners and
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beneficiaries and control
structure;
(iii) provisions regulating the
power to bind the entity; and to
verify that any person
purporting to act on behalf of
the customer is so authorised,
and identify those persons;
(d) if the customer or beneficial owner is
a politically exposed person, a
reporting entity shall—
(i) adequately identify and verify
the person’s identity as set out
in this section;
(ii) have appropriate risk
management systems to
determine whether the
customer is a politically
exposed person;
(iii) obtain the approval of senior
management before
establishing a business
relationship with the politically
exposed person;
(iv) take reasonable measures to
establish the source of wealth
and source of property; and
(v) conduct regular enhanced
monitoring of the business
relationship.
(5) If it appears to a reporting entity that an
applicant requesting it to enter into any business relationship
or transaction, whether or not in the course of a continuing
business relationship, is acting on behalf of another person,
the reporting entity shall establish the true identity of any
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person on whose behalf or for whose ultimate benefit the
applicant may be acting in the proposed transaction, whether
as a trustee, nominee, agent or otherwise.
(6) Nothing in this section shall require the
production of any evidence of identity where—
(a) the customer is itself a reporting
entity to which this Act applies and
which has been licensed or registered,
and is supervised for anti-money
laundering and countering of terrorist
financing measures by a regulatory
authority and the reporting entity has
satisfied itself that as to the adequacy
of the measures to prevent money
laundering and terrorist financing; or
(b) there is a transaction or a series of
transactions taking place in the course
of a business relationship, in respect
of which the applicant has already
produced satisfactory evidence of
identity.
(7) (a) A bank or a financial institution shall, in
relation to its cross-border correspondent banking and other
similar relationships—
(i) adequately identify and verify
the person or entity with whom
it conducts such a business
relationship;
(ii) gather sufficient information
about the nature of the business
of the person or entity;
(iii) determine from publicly
available information the
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reputation of the person or
entity and the quality of
supervision to which the
person or entity is subject to;
(iv) assess the person’s or entity’s
anti-money laundering and
terrorist financing controls;
(v) obtain approval from senior
management before
establishing a new
correspondent relationship; and
(vi) document the responsibilities
of the financial institution and
the person or entity.
(b) Where the relationship is a payable-
through account, a financial
institution shall ensure that the
person or entity with whom it has
established the relationship—
(i) has verified the identity of and
performed on-going due
diligence on those of that
person's customers that have
direct access to accounts of the
financial institution; and
(ii) is able to provide the relevant
customer identification data
upon request to the financial
institution.
(c) Banks or financial institutions shall
not maintain any business
relationship with other banks that do
not maintain a physical presence
under the laws of which they were
established, unless they are part of a
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financial group subject to effective
consolidated supervision.
(8) Where a reporting entity relies on an
intermediary or third party to undertake its obligations
under subsection (2), (3) or (4) or to introduce business to it,
it shall—
(a) immediately obtain the information
and documents required by
subsections (2), (3) and (4);
(b) take adequate steps to satisfy itself
that copies of identification data and
other relevant documentation relating
to customer due diligence
requirements will be made available
from the third party upon request
without delay;
(c) satisfy itself that the third party or
intermediary is regulated and
supervised , and has measures in
place to comply with the
requirements set out in section 16, and
in any event the ultimate responsibility for customer
identification and verification shall remain with the reporting
entity including where it seeks to rely on the third party.
(9) The Minister may, upon recommendation of the
relevant supervisory authority, prescribe—
(a) the official or identifying documents,
or the reliable and independent
source documents, data or
information or other evidence that is
required for identification or
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verification of any class of customers
or applicants; or
(b) the amount prescribed by the Minister
for, or the circumstances in which, the
provisions of this section shall apply
in relation to any particular customer
or applicant or class of customers or
applicants.
(10) In the case of an existing customer at the time
of this Act coming into force—
(a) a reporting entity shall verify the
identity of the customer within six
months from the date of
commencement of this Act;
(b) the Minister may, if he thinks it
expedient, by order extend the period
of six months for a further period of
up to three months; and
(c) where at the end of the six months or
further period of up to three months,
as the case may be, a reporting entity
is unable to verify the identity of a
customer, the Minister may where
circumstances do dictate by order
extend the period for further periods,
not exceeding twenty-four months;
(d) where at the end of the final period of
extension under paragraph (c) a
reporting entity is unable to verify the
identity of a customer, the reporting
entity shall terminate the business
relationship with the customer.
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Obligations of
reporting
entities.
16. (1) Reporting entities shall establish and
maintain—
(a) records of all transactions in
accordance with the requirements of
subsection (3);
(b) where evidence of a person’s identity
is obtained in accordance, with
section 15, a record that indicates the
nature of the evidence obtained, and
which comprises either a copy of the
evidence or such information as 1
would enable a copy of it to be
obtained; and
(c) records of account files and business
correspondence in relation to
paragraphs (a) and (b);
(2) Customer accounts of a reporting entity shall be
kept in the true name of the account holder.
(3) Records required under subsection (1) (a) shall
contain particulars sufficient to identify—
(a) the name, date of birth, address and
occupation or where appropriate,
business or principal activity of each
person—
(i) conducting the transaction; or
(ii) if known, on whose behalf the
transaction is being conducted,
as well as the method used by
the reporting entity to verify
the identity of each person;

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(b) the nature and date of the transaction;
(c) the type and amount of currency
involved;
(d) the type and identifying number of
any account with the reporting entity
involved in the transaction;
(e) if the transaction involves a
negotiable instrument other than
currency, the name of the drawer of
the instrument, the name of the
institution on which it was drawn, the
name of the payee, if any, the amount
and date of the instrument, the
number, if any, of the instrument and
details of any endorsements
appearing on the instrument; and
(f) the name and address of the reporting
entity, and of the officer, employee or
agent of the reporting entity who
prepared the report.
(4) Records required under subsection (1) shall be
kept by the reporting entity for a period of at least seven
years from the date the relevant transaction was completed,
or termination of business relationship, which ever is the
later.
(5) Reporting entities shall ensure that documents,
data or information collected under the customer due
diligence process is kept up to date and relevant by
undertaking reviews of existing records, particularly for
higher risk categories of customers or business relationships.

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Minister may
reduce or
simplify
identification
and verification.

Reporting of
suspicious
business
transactions by
reporting
entities.
17. (1) Based on an assessment of the risks represented
by the type of customer, business relationship or transactions
or authorities the Minister may, by regulations, prescribe
circumstances in which the obligations of reporting entities
established in section 15 shall be reduced or simplified with
regard to the identification and verification of the identity of
the customer or the beneficial owner.
(2) Reduced or simplified customer due diligence
measures shall not be permitted by reporting entities
whenever there is a suspicion of money laundering or
terrorist financing or higher risk terrorist activities.
18. (1) Reporting entities shall pay special attention
to—
(a) all complex, unusual large business
transactions, unusual patterns of
transactions, whether completed or
not, that have no apparent economic
or lawful purpose and inconsistent
with the profiles of the persons
carrying out such transactions;
(b) business relations and transactions
with persons in jurisdictions that do
not have adequate systems in place to
prevent or deter money laundering or
terrorist financing; and
(c) electronic funds transfer that do not
contain complete originator
information.
(2) In relation to subsection (1), a reporting entity
shall—
(a) verify the background and purpose of
the transactions or business relations
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and record its findings in writing; and
(b) upon request, shall make available
such findings to the Financial
Intelligence Unit.
(3) A reporting entity shall monitor its business
relationships and the transactions undertaken throughout
the course of the relationship to ensure that its obligations
under section 15 are met and that the transactions conducted
are consistent with the information that the reporting entity
has of its customer, of the customer’s business and risk
profile and source of funds, where necessary.
(4) Whenever a reporting entity suspects or has
reasonable grounds to suspect that funds, a transaction or
attempted transaction are connected to the proceeds of
criminal activity, money laundering or terrorist financing
offences it shall as soon as possible but not later than three
days after forming that suspicion and wherever possible
before the transaction is carried out—
(a) take reasonable measures to ascertain
the purpose of the transaction, the
origin and ultimate destination of the
funds involved and the identity and
address, of any ultimate beneficiary;
and
(b) prepare a report of the transaction in
accordance with subsection (8) and
send the report to the Financial
Intelligence Unit in such other form as
the Director, may approve.
(5) Dealers in precious metals and dealers in
precious stones and other dealers in high value goods shall
report suspicious transactions to the Financial Intelligence
Unit in accordance with subsection (1) when they engage in
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any cash transaction equal to or above two million dollars.
(6) Real estate agents shall report suspicious
transactions in accordance with subsection (1) to the
Financial Intelligence Unit when involved in transactions for
their clients concerning the buying or selling of real estate.
(7) Casinos shall report suspicious transactions in
accordance with subsection (1).
(8) A report required under subsection (4) shall—
(a) contain particulars of the matters
specified in subsection (4) (a) and in
section 16;
(b) contain a statement of the grounds on
which the reporting entity holds the
suspicion; and
(c) be signed or otherwise authenticated
by the reporting entity.
(9) A reporting entity which has reported a
suspicious transaction in accordance with this section shall, if
requested to do so by the Financial Intelligence Unit, give
such further information as requested by the Financial
Intelligence Unit.
(10) (a) If the Financial Intelligence Unit, after
consulting the entity that reported the
transaction required to make a report
under subsection (4), suspects or has
reasonable grounds to suspect that a
transaction or a proposed transaction
may involve, the proceeds of crime or
a money laundering or a terrorist
financing offence, it may direct the
reporting entity in writing,
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electronically or by telephone to be
followed up in writing, not to proceed
with the carrying out of that
transaction or proposed transaction or
any other transaction in respect of the
funds affected by that transaction or
proposed transaction for a period as
may be determined by the Financial
Intelligence Unit which may not be
more than five days, in order to allow
the Financial Intelligence Unit—
(i) to make necessary inquiries
concerning the transaction; and
(ii) if the Financial Intelligence Unit
deems it appropriate, to inform
and advise a supervisory
authority.
(b) For the purposes of calculating the
period of five days in paragraph (a),
Saturdays and public holidays shall
not be taken into account.
(11) The provisions of subsections (4), (9) and (10)
are applicable to attorneys-at-law, notaries, other
independent legal professionals and accountants when, on
behalf of or for a client, they engage in a transaction in
relation to the following activities—
(a) buying and selling of real estate;
(b) managing of client money, securities
or other assets;
(c) management of bank, savings or
securities accounts;

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(d) organisation of contributions for the
creation, operation or management of
companies; or
(e) creation, operation or management of
legal persons or arrangements, and
buying and selling of business
entities.
(12) Nothing in this Act requires any attorney- at-
law to disclose any privileged communication.
(13) For the purposes of this section, a
communication is a privileged communication only if—
(a) it is to a person who is a professional
legal adviser and the disclosure falls
within paragraph (b);
(b) a disclosure falls within this
subsection if it is a disclosure—
(i) to or to a representative of a
client of the professional legal
adviser in connection with the
giving by the adviser of legal
advice to the client, or
(ii) to any person in connection
with legal proceedings or
contemplated legal
proceedings, but a disclosure
does not fall within this
subsection if it is made with the
intention of furthering a
criminal purpose; or
(c) trust and company service providers,
when they engage in a transaction for
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or on behalf of a client, in relation to
the following activities—
(i) acting as a formation agent of
legal persons;
(ii) acting as or arranging for
another person to act as a
director or secretary of a
company, a partner of a
partnership, or a similar
position in relation to other
legal persons;
(iii) providing a registered office,
business address or
accommodation, correspond-
dence or administrative
address for a company, a
partnership or any other legal
person or arrangement;
(iv) acting as or arranging for
another person to act as a
trustee of an express trust; or
(v) acting as or arranging for
another person to act as a
nominee shareholder for
another person.
(14) Any person who knows or suspects that a
report under this section is being prepared or has been sent
to the Financial Intelligence Unit or any additional
information requested by the Financial Intelligence Unit has
been prepared or sent shall not disclose to another person,
other than a court, or other person authorised by law, any
information or other matter in relation to the report.
(15) A natural person who contravenes this section
commits an offence and shall on summary conviction be
liable to a fine of not less than one million dollars nor more
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Requirements
of reporting
entity.
than two million dollars and to imprisonment for a term not
exceeding three years, and in the case of a body corporate to
a fine of not less than two million dollars nor more than three
million dollars.
19. (1) A reporting entity shall—
(a) appoint a compliance officer who
shall be responsible for ensuring the
reporting entity’s compliance with the
requirements of this Act;
(b) establish and maintain internal
policies, procedures, controls and
systems to—
(i) implement the customer
identification requirements;
(ii) implement record keeping and
retention requirements;
(iii) implement the monitoring
requirements;
(iv) implement the reporting
requirements under section 18;
(v) make its officers and employees
aware of the law relating to
combating money laundering
and terrorist financing;
(vi) make its officers and employees
aware of the procedures and
policies adopted by it to deter
money laundering and terrorist
financing ; and
(vii) screen persons before hiring
them as employees;
(c) establish an audit function to test its
anti-money laundering and
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Financial
institutions and
money transfer
agencies to
include
originator
information.
combating of terrorist financing
procedures and systems; and
(d) train its officers, employees and
agents to recognise suspicious
transactions.
(2) A reporting entity shall—
(a) enable any person identified in
accordance with subsection (1) (a) to
have reasonable access to information
that may be relevant to determining
whether sufficient basis exists to
report the matter pursuant to section
16; and
(b) require the identified person to report
the matter, pursuant to section 16, in
the event that he determines that
sufficient basis exists.
(3) The person identified in subsection (1) (a) shall
be a compliance officer at management level responsible for
establishing and maintaining compliance with the
requirements of section 18.
(4) Subsections (1) and (2) do not apply to an
individual who, in the course of carrying on that person's
business, does not employ or act in association with any
other person or if all their staff and management consists of
less than five persons.
20. (1) An institution or person that is licensed to do
business in Guyana as a financial institution under the
Financial Institutions Act or a money transfer agency shall
include accurate originator information and other related
messages on electronic funds transfers and that information
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c. 85:03.
Financial
Intelligence
Unit’s power to
obtain a search
warrant.
shall remain with the transfer.
(2) The information shall be included in the
message or payment form accompanying the transfer and if
there is no account number, a unique reference number shall
accompany the transfer.
(3) Subsection (1) shall not apply to an electronic
funds transfer, other than a money transfer effected from the
use of a credit or debit card as means of payments that
results from a transaction carried out using a credit or debit
card:
Provided that the credit or debit card number is included
in the information accompanying such a transfer.
(4) Subsection (1) shall not apply to electronic
funds transfers and settlements between financial institutions
where the originator and beneficiary of the funds transfer are
acting on their own behalf.
21. The Financial Intelligence Unit or a law
enforcement agency may apply to a Judge of the Court and
upon satisfying the Court that there are reasonable grounds
that—
(a) a reporting entity has failed to keep a
business transaction record as
provided by the provisions of section
16(1), (2) and (3);
(b) a reporting entity has failed to report
any business transaction as provided
by the provisions of section 18(4); or
(c) an officer or employee of a financial
institution is committing, has
committed or is about to commit a
money laundering offence,
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Role of
supervisory
authority.

c. 85:02
c. 91:02
c. 73:04
the Court may make an order authorising the Financial
Intelligence Unit to enter any premises belonging to, or in the
possession or under the control of the reporting entity or any
officer or employee of such reporting entity and to search the
premises and remove any document, material or other thing
therein for the purposes of the Financial Intelligence Unit or
law enforcement agency as ordered by the Judge and
specified in the warrant.
22. (1) The supervisory authority responsible for
supervising each reporting entity shall supervise compliance
by the reporting entity with the requirements of sections 15,
16, 18, 19 and 20,and—
(a) the Governor of the Bank of Guyana
appointed under section 9 of the Bank
of Guyana Act;
(b) the Commissioner of Insurance
appointed under section 3 of the
Insurance Act;
(c) the Guyana Securities Council
established under section 4 of the
Securities Industry Act;
(d) a supervisory authority whose
member or members shall be
appointed by the Minister responsible
for Finance,
shall be supervisory authorities for the purposes of this Act.
(2) In accordance with this Act, the supervisory
authority shall—
(a) examine and supervise the reporting
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entity, and regulate and oversee
effective compliance with the
obligations set out in sections 15, 16,
18, 19 and 20 and any other
preventive measures in relation to
combating money laundering and
terrorist financing;
(b) issue instructions, guidelines or
recommendations;
(c) cooperate and share information
promptly with other domestic
competent authorities, by requesting
and providing assistance in
investigations, prosecutions or
proceedings relating to proceeds of
crime, money laundering and terrorist
financing;
(d) develop standards and criteria
applicable to the communication of
suspicious activities that reflect other
existing and future pertinent national
and internationally accepted
standards;
(e) impose requirements that the
reporting entity shall ensure that their
foreign branches and subsidiaries
adopt and enforce measures
consistent with this Act to the extent
that local laws and regulations so
permit, and where the foreign branch
or subsidiary is unable to adopt and
observe these measures, to report the
matter to the designated supervisory
or regulatory authority or the
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Sanctions by
supervisory
authorities.
competent disciplinary authority;
(f) submit a report to the Financial
Intelligence Unit, as soon as
practicable but no later than three
working days, after acquiring any
information concerning suspicious
transactions or activities that could be
related to money laundering, terrorist
financing or the proceeds of crime;
(g) cooperate, request and exchange
information with agencies performing
similar functions in other countries
and territories in investigations,
proceedings or prosecutions relating
to proceeds of crime, money
laundering or terrorist financing, and
to violations of the laws and
administrative regulations dealing
with reporting entities; and
(h) maintain statistics concerning
measures adopted and sanctions
imposed under this Act.
23. (1) The supervisory authority, any regulatory
authority or competent disciplinary authority that discovers
a breach of the obligations established under sections 15, 16,
18, 19 and 20 by a reporting entity it supervises may impose
one or more of the following sanctions—
(a) written warnings;
(b) order to comply with specific
instructions;
(c) order regular reports from the
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Production
orders
reporting entity on the measures it is
taking;
(d) prohibit convicted persons from
employment within the sector;
(e) recommend to the appropriate
licensing authority of the reporting
entity that the reporting entity's
licence be suspended, restricted or
withdrawn.
(2) The supervisory authority shall inform the
Financial Intelligence Unit as to the sanctions imposed and
may order the publication of its decision.
(3) Any supervisory or regulatory authority or the
competent disciplinary authority that discovers facts likely to
constitute indication of money laundering or terrorist
financing shall so inform the Financial Intelligence Unit.
24. (1) Where a person is being investigated for a
serious offence, money laundering or a terrorist financing
offence or has been charged or convicted, and a police officer
or an authorised officer of the Financial Intelligence Unit has
reasonable grounds for suspecting that any person has
possession or control of—
(a) a document relevant to identifying,
locating or quantifying property of
the person or to identifying or
locating a document necessary for the
transfer of property of such person; or
(b) a document relevant to identifying,
locating or quantifying tainted
property in relation to the offence or
to identifying or locating a document
necessary for the transfer of tainted
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property in relation to the offence,
the police officer or an authorised officer of the Financial
Intelligence Unit may apply ex parte to a Judge in Chambers
for an order against the person suspected of having
possession or control of a document of the kind referred to
and the application shall be supported by an affidavit.
(2) The Judge may, if he considers there are
reasonable grounds for so doing make an order that the
person produces to a police officer or an authorised officer of
the Financial Intelligence Unit, at a time and place specified
in the order, any documents of the kind referred to in
subsection (1):
Provided that an order under this subsection may not
require the production of banker’s books.
(3) A police officer or an authorised officer of the
Financial Intelligence Unit to whom documents are produced
may—
(a) inspect the documents;
(b) make copies of the documents; or
(c) retain the documents for so long as is
reasonably necessary for the purposes
of this Act.
(4) Where a police officer or an authorised officer
of the Financial Intelligence Unit retains documents
produced to such person, that person shall make a copy of
the documents available to the person who produced them.
(5) A person is not entitled to refuse to produce
documents ordered to be produced under this section on the
ground that—
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Evidential value
of information.
Failure to
comply with a
production
order.
(a) the document might tend to
incriminate the person or make him
liable to a penalty; or
(b) the production of the document
would be in breach of an obligation
(whether imposed by enactment or
otherwise) of the person not to
disclose the existence or contents of
the document.
25. (1) Where a person produces a document pursuant
to an order under section 24, the production of the document,
or any information, document or thing obtained as a direct or
indirect consequence of the production of the document is
not admissible against the person in any criminal
proceedings except proceedings under section 26.
(2) For the purposes of subsection (1), proceedings
on an application for a restraining order, a forfeiture order or
a pecuniary penalty order are not criminal proceedings.
26. Where a person is required by a production order
to produce a document to a police officer or authorised
officer, the person commits an offence against this section if
he—
(a) contravenes the order without
reasonable cause; or
(b) in purported compliance with the
order, produces or makes available a
document known to the person to be
false or misleading in a material
particular and does not so indicate to
the police officer or authorised person
and fails or neglects to provide to the
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Production
orders in
relation to
foreign offences.

Power to search
for and seize
documents
relevant to
locating
property.
Search warrant
for location of
documents
police officer or authorised officer any
correct information of which the
person is in possession,
and on summary conviction shall be liable, in the case of a
natural person to a fine of not less than one million dollars
nor more than two million dollars or for a term not exceeding
one year and in the case of a body corporate to a fine of not
less than two million dollars nor more than three million
dollars.
27. Where a foreign state requests assistance to locate
or seize property suspected to be tainted property in respect
of an offence within its jurisdiction, the provisions of section
28 may apply with necessary modification.
28. A police officer may—
(a) enter upon land or into premises;
(b) search the land or premises for any
document or property of the type
described in section 29; and
(c) seize any document or property
found in the course of that search that
the police officer believes, on
reasonable grounds, to be a relevant
document or property in relation to a
serious offence, money laundering or
terrorist financing,
on condition that the entry, search and seizure is made with
the consent of the occupier of the land or the premises or
under warrant issued under this Act.
29. (1) Where—
(a) a person being investigated, has been
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relevant to
locating
property.
charged or convicted of a serious
offence; or
(b) a police officer or an authorised
officer of the Financial Intelligence
Unit has reasonable grounds for
suspecting that there is, or may be
within the next seventy-two hours,
upon any land or upon or in any
premises, a document in relation to
the offence,
the police officer or an authorised officer of the Financial
Intelligence Unit may make an application to a magistrate for
a search warrant in respect of that land or those premises.
(2) Where an application is made under subsection
(1) for a warrant to search land or premises, the magistrate
may, subject to subsection (4) issue a warrant authorising a
police officer or an authorised officer of the Financial
Intelligence Unit (whether or not named in the warrant),
with the assistance and by the force as is necessary and
reasonable—
(a) to enter upon the land or in or upon
any premises and to search the land
or premises for property of that kind;
and
(b) to seize property found in the course
of the search that the police officer
believes on reasonable grounds to be
property of that kind.
(3) A magistrate shall not issue a warrant under
subsection (2) unless he is satisfied that-
(a) a production order has been given in
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respect of the document and has not
been complied with;
(b) a production order in respect of the
document would be unlikely to be
effective;
(c) the investigation for the purposes of
which the search warrant is being
sought might be seriously prejudiced
if the police officer or an authorised
officer of the Financial Intelligence
Unit does not gain immediate access
to the document without any notice to
any person; or
(d) the document involved cannot be
identified or described with sufficient
particularity to enable a production
order to be obtained.
(4) A warrant issued under this section shall
state—
(a) the purpose for which it is issued,
including a reference to the nature of
the relevant offence;
(b) a description of the kind of
documents authorised to be seized;
(c) a time at which the warrant ceases to
be in force; and
(d) whether entry is authorised to be
made at any time of the day or night
or during specified hours.

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Search warrants
in relation to
foreign offences.

Monitoring
orders.
(5) If during the course of searching under a
warrant issued under this section, a police officer or an
authorised officer of the Financial Intelligence Unit finds—
(a) a document that the police officer or
an authorised officer of the Financial
Intelligence Unit believes on
reasonable grounds to relate to the
relevant offence or to another
indictable offence; or
(b) anything the police officer or an
authorised officer of the Financial
Intelligence Unit believes on
reasonable grounds will afford
evidence as to the commission of a
serious offence, money laundering or
terrorist financing,
the police officer or an authorised officer of the Financial
Intelligence Unit may seize that property or thing and the
warrant shall be deemed to authorise such seizure.
30. Where a foreign state requests assistance to locate
or seize property suspected to be tainted property in respect
of an offence within its jurisdiction, the provisions of section
29 may apply with necessary modification.
31. (1) A police officer or an authorised officer of the
Financial Intelligence Unit investigating a money laundering
or terrorist financing offence may apply, ex parte and in
writing to a Judge in Chambers for an order (in this section
called a monitoring order) directing a reporting entity to give
information to a police officer or an authorised officer of the
Financial Intelligence Unit and an application under this
subsection shall be supported by an affidavit.
(2) A monitoring order shall—
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(a) direct a reporting entity to disclose
information obtained by the
institution about transactions
conducted through an account held
by a particular person with the
institution;
(b) not have retrospective effect; and
(c) only apply for a period of a maximum
of three months from the date of the
making of the order.
(3) A Judge shall not issue a monitoring order
unless he is satisfied that there are reasonable grounds for
suspecting that the person in respect of whose account the
order is sought-
(a) has committed or was involved in the
commission, or is about to commit or
be involved in the commission of, a
serious offence; or
(b) has benefited directly or indirectly, or
is about to benefit directly or
indirectly from the commission of a
serious offence.
(4) A monitoring order shall specify—
(a) the name or names in which the
account or relationship is believed to
be held or the purpose and nature of
the business relationship; and
(b) the class of information that the
institution is required to give.
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Monitoring
orders not to be
disclosed.
(5) Where a reporting entity, which has been given
notice of a monitoring order, knowingly—
(a) contravenes the order; or
(b) provides false or misleading
information in purported compliance
with the order,
the institution commits an offence against this subsection
and shall be liable on summary conviction, in the case of a
natural person to a fine of not less than one million dollars
nor more than two million dollars and to imprisonment for a
period not exceeding one year and in the case of a body
corporate to a fine of not less than two million dollars nor
more than three million dollars.
32. (1) A reporting entity that is, or has been, subject
to a monitoring order shall not disclose the existence or
operation of the order to any person except—
(a) an officer or agent of the institution
for the purpose of ensuring
compliance with the order;
(b) a legal adviser for the purpose of
obtaining legal advice or
representation in respect of the order;
or
(c) a police officer or an authorised
officer of the Financial Intelligence
Unit authorised in writing to receive
the information.
(2) A person mentioned in subsection (1) shall not
disclose the existence or operation of a monitoring order
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Power to
intercept
communica-
tions and the
admissibility of
intercepted
communica-
tions.
except to another person mentioned in that subsection and
may do so only for the purposes of the performance of the
person's duties or functions.
(3) Nothing in this section prevents the disclosure
of information concerning a monitoring order for the
purposes of or in connection with legal proceedings or in the
course of proceedings before a Court:
Provided that nothing in this section shall be construed
as requiring a legal adviser to disclose to any Court the
existence or operation of a monitoring order.
33. (1) Subject to subsection (2), the Director of Public
Prosecutions or the Attorney General may, for the purpose of
obtaining evidence of the commission of a money laundering
offence, a terrorist financing offence and which includes any
threat to national security in the furtherance of such offence
or the proceeds of crime under this Act, apply, ex parte, to a
Judge, for an interception of communications order.
(2) A police officer may make an application under
subsection (1) only with the prior written consent of the
Director of Public Prosecutions or the Attorney General.
(3) A Judge to whom an application is made under
subsection (1) may make an order—
(a) requiring a communications service
provider to intercept and retain a
specified communication or
communications of a specified
description received or transmitted, or
about to be received or transmitted by
that communication service provider;
or
(b) authorising the police to enter any
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premises and to install on the
premises, any device for the
interception and retention of a
specified communication or
communications of a specified
description and to remove and retain
such device;
if the Judge is satisfied that the written consent of the
Director of Public Prosecutions or the Attorney General has
been obtained as required by subsection (2) and that there
are reasonable grounds to believe that material information
relating to—
(i) the commission of an offence
under this Act; or
(ii) the whereabouts of the person
suspected by the police officer
to have committed the offence
is contained in that
communication or
communications of that
description.
(4) Any information contained in a
communication—
(a) intercepted and retained pursuant to
an order under subsection (3); or
(b) intercepted and retained in a foreign
state in accordance with the law of
that foreign state and certified by a
Judge of that foreign state to have
been so intercepted and retained,
shall be admissible in proceedings for money laundering
offences or terrorist financing offences or for proceedings in
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Mandatory
injunction to
enforce
compliance.

Other measures
to avoid money
laundering.

Currency
reporting when
entering or
leaving Guyana.
Third Schedule.

Seizure and
detention of
suspicious
imports or
exports of
relation to the forfeiture of the proceeds of crime or terrorist
property under this Act, as evidence of the truth of its
contents.
34. (1) The Financial Intelligence Unit may upon
application to a Judge of the Court and upon satisfying him
that a reporting entity has failed without reasonable excuse
to comply in whole or in part with any obligation as
provided under the provisions of section 16 and section 18(4)
may obtain a mandatory injunction against any or all of the
officers or employees of that reporting entity in such terms as
the Court deems necessary to enforce compliance with such
obligation.
(2) In granting an injunction pursuant to the
provisions of subsection (1) the Court may order that should
the reporting entity or any officer or employee of that
reporting entity fail without reasonable excuse to comply
with all or any of the provisions of that injunction such
reporting entity, officer or employee shall pay a financial
penalty of such sum and in such manner as directed by the
Court.
35. A person who has been convicted of a serious
offence whether in Guyana or elsewhere or of an offence
under this Act shall not be eligible or licensed to carry on the
business of a financial institution.
36. A person who enters or leaves Guyana with
foreign currency amounting to more than ten thousand
United States dollars or its equivalent in any other currency
shall make a declaration to an authorised officer in the Form
in the Third Schedule.
37. (1) A police officer or customs officer may seize
and, in accordance with this section, detain any currency
which is being imported into, or exported from Guyana, if—

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currency.

c. 86:01.
(a) the amount is more than the sum
specified in this Act or section 6 of the
Foreign Exchange (Miscellaneous
Provisions) Act; and
(b) such person has reasonable grounds
for suspecting that it is—
(i) currency derived from a serious
offence;
(ii) intended by any person for use
in a commission of a serious
offence;
(iii) involved in money laundering
or terrorist financing; or
(iv) being brought into or taken out
of Guyana after a false
declaration or disclosure or
failure to disclose.
(2) Currency detained under subsection (1) shall
not be detained for more than seventy-two hours after
seizure, excluding weekends and public holidays unless a
Judge in Chambers orders its continued detention for a
period not exceeding three months from the date of seizure,
upon being satisfied that—
(a) there are reasonable grounds for the
suspicion referred to in subsection (1)
(b); and
(b) its continued detention is justified
while –
(i) its origin or derivation is
further investigated; or
(ii) consideration is given to the
institution in Guyana or
elsewhere of criminal
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proceedings against any person
for an offence with which the
currency is connected.
(3) A police officer, customs officer or a person
authorised by the Director of the Financial Intelligence Unit
shall, as soon as is reasonably practicable, but not later than
seven days, apply to a Judge in Chambers for a detention
order with respect to the currency seized under subsection
(1).
(4) The Judge in Chambers shall not make an order
for detention of the currency unless he is satisfied that there
are reasonable grounds for suspecting that the currency is
currency referred to in subsection (1).
(5) Subject to subsection (7), any order made under
subsection (4) shall remain valid for a period of ninety days,
and may be renewed for further periods of ninety days by
the Judge in Chambers, until production of the currency
before the Court in proceedings against any person for an
offence with which the currency is connected.
(6) Any currency detained under this section shall
be deposited in an interest bearing account wherever
possible.
(7) The currency, with the interest, may be released
by the order of the Judge in Chambers—
(a) where the conditions under
subsection (4) are no longer met: or
(b) where no proceedings are being
brought in connection with the
currency detained.
(8) On being satisfied that the currency represents
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Freezing of
property.
the proceeds of crime, money laundering or terrorist
financing offence or property to be used in the commission of
a serious offence, the Judge shall make a forfeiture order.
(9) For the purposes of this section—
“customs officer” means a customs officer not below the rank
of Supervisor;
“police officer” means a police officer not below the rank of
Superintendent of Police.
PART IV
FREEZING AND FORFEITURE OF ASSETS IN
RELATION TO MONEY LAUNDERING
38. (1) The Director of Public Prosecutions may apply
to the Court for a restraining order against any realisable
property held by the accused or specified realisable property
held by a person other than the accused.
(2) An application for a restraining order may be
made ex parte and shall be in writing and be accompanied by
an affidavit stating—
(a) where the accused has been convicted
of a serious offence, the serious
offence for which the accused was
convicted, the date of the conviction,
the court before which the conviction
was obtained and whether an appeal
has been lodged against the
conviction;
(b) where the accused has not been
convicted of a serious offence for
which the accused is charged or about
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Restraining
orders.
to be charged, or is being investigated
for, the grounds for believing that the
defendant committed the offence;
(c) a description of the property in
respect of which the restraining order
is sought;
(d) the name and address of the person
who is believed to be in possession of
the property;
(e) the grounds for the belief that the
property is tainted property in
relation to the offence; or
(f) the grounds for the belief that the
accused derived a benefit directly or
indirectly from the commission of the
offence;
(g) where the application seeks a
restraining order against property of a
person other than the defendant, the
grounds for the belief that the
property is tainted property in
relation to the offence or realisable
property that is subject to the effective
control of the accused or is a gift
caught by this Act;
(h) the grounds for the belief that a
forfeiture order or a pecuniary
penalty order may be or is likely to be
made under this Part in respect of the
property.
39. (1) Subject to this section, where the Director of
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Public Prosecutions applies to the Court for a restraining
order against property and the Court is satisfied that—
(a) the accused has been convicted of a
serious offence or has been charged or
is about to be charged with or is being
investigated for a serious offence;
(b) where the accused has not been
convicted of a serious offence, there is
reasonable cause to believe that the
property is tainted property in
relation to a serious offence or that the
accused derived a benefit directly or
indirectly from the commission of the
offence;
(c) where the application seeks a
restraining order against property of a
person other than the accused, there
are reasonable grounds for believing
that the property is tainted property
in relation to a serious offence and
that the property is subject to the
effective control of the accused or is
property held by the defendant or a
gift caught by this Act; and
(d) there are reasonable grounds for
believing that a forfeiture order or a
pecuniary penalty order is likely to be
made under this Part in respect of the
property,
the Court may make an order-
(e) prohibiting the defendant or any
person from disposing of, or
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otherwise dealing with, the property
or such part thereof or interest therein
as is specified in the order, except in
such manner as may be specified in
the order; and
(f) at the request of the Director of Public
Prosecutions, where the Court is
satisfied that the circumstances so
require—
(i) directing the Registrar of
Deeds, Public Trustee, Official
Receiver, a receiver or such
other person as the Court may
appoint to take custody of the
property or such part of it as is
specified in the order and to
manage or otherwise deal with
all or any part of the property
in accordance with the
directions of the Court; and
(ii) requiring any person having
possession of the property to
give possession of it to the
Registrar of Deeds or to the
person appointed under sub-
paragraph (i) to take custody
and control of the property.
(2) An order under subsection (.1) may be made
subject to such conditions as the Court thinks fit and, without
limiting the generality of this subsection, may make
provision for setting aside out of the property or a specified
part of the property, any or all of the following—
(a) the person’s reasonable living
expenses (including the reasonable
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Service of
restraining
order.
living expenses of the person’s
dependants, if any) and reasonable
business expenses;
(b) the person’s reasonable expenses in
defending the criminal charge and
any proceedings under this Part; and
(c) a specified debt incurred by the
person in good faith.
(3) Where the Registrar of Deeds, Public Trustee,
Official Receiver, receiver or other person appointed under
subsection (l) (f) (i) is given a direction in relation to any
property, such person may apply to the Court for directions
on any question respecting the management or preservation
of the property under the person's control.
(4) An application shall be served on all persons
interested in the application or such of them, as the Court
thinks expedient and all such persons shall have the right to
appear at the hearing and be heard.
(5) When the application is made on the basis that
a person is being investigated or to be charged, any order
made by the Court shall lapse if the person is not charged—
(a) where the offence is an offence
against the laws of Guyana, within
fifty-six days; or
(b) where the offence is an offence
against the laws of a foreign state,
within fifty-six days.
40. A copy of a restraining order shall be served on a
person affected by the order in such manner as the Court
directs or as may be prescribed by rules of court.

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Registration of
restraining
order.
c. 5:01
c. 5:02

Contravention
of restraining
order.
41. (1) A copy of a restraining order which affects
transported land shall be registered with the Registrar of
Deeds and where the restraining order affects registered
land, the order shall be lodged with the Registrar of Lands
who shall make the appropriate entry in the Register kept for
that purpose in the Land Registry.
(2) A restraining order is of no effect with respect
to land unless it is registered as a charge under the Deeds
Registry Act or the Land Registry Act, as the case may be.
(3) Where particulars of a restraining order are
registered under the Deeds Registry Act or the Land Registry
Act, as the case may be, a person who subsequently deals
with the property shall, for the purposes of this section be
deemed to have notice of the order at the time of the dealing.
42. (1) A person who knowingly contravenes a
restraining order by disposing of or otherwise dealing with
property that is subject to the restraining order commits a
serious offence punishable upon summary conviction by—
(a) a fine of not less than one million
dollars nor more than two million
dollars and imprisonment for a term
of two years, in the case of a natural
person; or
(b) a fine of not less than two million
dollars nor more than three million
dollars in the case of a body
corporate.
(2) Where a restraining order is made against
property and the property is disposed of, or otherwise dealt
with, in contravention of the restraining order, and the
disposition or dealing was not for sufficient consideration or
not in favour of a person who acted in good faith and
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Duration of
restraining
order.

Review of
restraining
order.
without notice, the Director of Public Prosecutions may
apply to the Court that made the restraining order for an
order that the disposition or dealing be set aside.
(3) Where the Director of Public Prosecutions
makes an application under subsection (2) in relation to a
disposition or dealing, the Court may—
(a) set aside the disposition or dealing as
from the day on which the disposition
or dealing took place; or
(b) set aside the disposition or dealing as
from the day of the order under this
subsection and declare the respective
rights of any persons who acquired
interests in the property on, or after
the day on which the disposition or
dealing took place, and before the day
of the order under this subsection.
43. A restraining order remains in force until—
(a) it is discharged, revoked or varied; or
(b) a forfeiture order or a pecuniary
order, as the case may be, is made in
respect of property which is the
subject of the order.
44. (1) A person who has an interest in property in
respect of which a restraining order was made may, at any
time, apply to the Court for an order under subsection (4).
(2) An application under subsection (1) shall not be
heard by the Court unless the applicant has given to the
Director of Public Prosecutions at least three clear days notice
in writing of the application.

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(3) The Court may require notice of the application
to be given to, and may hear, any person who in the opinion
of the Court appears to have an interest in the property.
(4) On an application under subsection (1) the
Court may revoke or vary the order or make the order
subject to such conditions as the Court thinks fit and for the
purposes of this subsection the Court may—
(a) require the applicant to enter into
recognisances;
(b) vary the order to permit the payment
of reasonable living expenses of the
applicant, including his dependants, if
any, and reasonable legal or business
expenses of the applicant.
(5) An order under subsection (4) may only be
made if the Court is satisfied that—
(a) the applicant is the lawful owner of
the property or is entitled to lawful
possession thereof and appears to be
innocent of any complicity in the
commission of a serious offence or of
any collusion in relation to such
offence; and
(b) the property will no longer be
required for the purposes of any
investigation or as evidence in any
proceedings.
(6) An application may be made by the Director of
Public Prosecutions to discharge a restraint order.

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Extension of
restraining
order.


Forfeiture order
on conviction.
45. (1) The Director of Public Prosecutions may apply
to the Court that made a restraining order for an extension of
the period of the operation of the order.
(2) Where the Director of Public Prosecutions
makes an application under subsection (1), the Court may
extend the operation of a restraining order for a specified
period if it is satisfied that a forfeiture order may be made in
respect of the property or part thereof or that a pecuniary
penalty order may be made against the person.
46. (1) Where, upon application by the Director of
Public Prosecutions, the Court that heard the criminal case, is
satisfied that property is tainted property in respect of a
serious offence of which a person has been convicted, the
Court may order that specified property be forfeited.
(2) In determining whether property is tainted
property the Court may infer, in the absence of evidence to
the contrary—
(a) that the property was used in or in
connection with the commission of a
serious offence if it was in the
person's possession at the time of, or
immediately after the commission of
the serious offence for which the
person was convicted;
(b) that the property was derived,
obtained or realised as a result of the
commission of the serious offence if it
was acquired by the person before,
during or within six years after the
period of the commission of the
serious offence of which the person
was convicted, and the Court is
satisfied that the income of that
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Effect of
forfeiture order
on conviction.
person from sources unrelated to
criminal activity of that person cannot
reasonably account for the acquisition
of that property.
(3) Where the Court orders that property, other
than money, be forfeited, the Court shall specify in the order
the amount that it considers to be the value of the property at
the time when the order is made.
(4) In considering whether a forfeiture order
should be made under subsection (1), the Court shall have
regard to—
(a) the rights and interests, if any, of third
parties in the property;
(b) the gravity of the serious offence
concerned;
(c) any hardship that may reasonably be
expected to be caused to any person
by the operation of the order; and
(d) the use that is ordinarily made of the
property, or the use to which the
property was intended to be put.
(5) Where the Court makes a forfeiture order, the
Court may give directions that are necessary or convenient
for giving effect to the order.

47. (1) Subject to subsection (2), where a Court makes
a forfeiture order against any property the property vests
absolutely in the State by virtue of the order.
(2) Where property ordered to be forfeited is
registrable property—
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(a) the property vests with the State in
equity but does not vest with the State
at law until the applicable registration
requirements have been complied
with;
(b) the State is entitled to be registered as
owner of the property; and
(c) the Director of Public Prosecutions
has power on behalf of the State to do
or authorise the doing of anything
necessary or convenient to obtain the
registration of the State as owner,
including the execution of any
instrument to be executed by a person
transferring an interest in property of
that kind.
(3) Where the Court makes a forfeiture order
against property—
(a) the property shall not, except with the
leave of the Court and in accordance
with any directions of the Court, be
disposed of, or otherwise dealt with,
by or on behalf of the State before the
relevant appeal date; and
(b) if after the relevant appeal date, the
order has not been discharged, the
property may be disposed of and the
proceeds applied or otherwise dealt
with in accordance with the directions
of the Director of Public Prosecutions.
(4) In this section—
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Voidable
transfers.
“registrable property” means property the title to which is
passed by registration in accordance with the provisions
of the Land Registry Act or the Deeds Registry Act;
“relevant appeal date” used in relation to a forfeiture order
made in consequence of a person's conviction of a serious
offence means—
(a) the date on which the period allowed
by rules of court for the lodging of an
appeal against a person's conviction
or for the lodging of an appeal against
the making of a forfeiture order
expires without an appeal having
been lodged, whichever is the latter;
or
(b) where an appeal against a person’s
conviction or against the making of a
forfeiture order is lodged, the date on
which the appeal lapses in accordance
with the rules of court or is finally
determined, whichever is the latter.
48. The Court may—
(a) before making a forfeiture order; and
(b) in the case of property in respect of
which a restraining order was made,
where the order was served, set aside
any conveyance or transfer of the
property that occurred after the
seizure of the property or the service
of the restraining order, unless the
conveyance or transfer was made for
valuable consideration to a person
acting in good faith and without
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Protection of
third parties.
notice.
49. (1) Where an application is made for a forfeiture
order against property, a person who claims an interest in
the property may apply to the Court, before the forfeiture
order is made, for an order under subsection (2).
(2) If a person applies to the Court for an order
under this section in respect of property and the Court is
satisfied on a balance of probabilities—
(a) the person was not in any way
involved in the commission of the
serious offence; and
(b) where the person acquired the interest
during or after the commission of the
serious offence, that the person
acquired the interest-
(i) for sufficient consideration; and
(ii) without knowing, and in
circumstance not giving rise to
a reasonable suspicion that the
property was, at the time the
person acquired it, property
that was tainted property,
the Court shall make an order declaring the nature, extent
and value at the time the order is made of the person's
interest.
(3) Subject to subsection (4), where a forfeiture
order has already been made directing the forfeiture of
property, a person who claims an interest in the property
may, before the end of the period of six months commencing
on the day on which the forfeiture order is made, apply
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under this subsection to the Court for an order under
subsection (2).
(4) A person who—
(a) had knowledge of the application for
the forfeiture order before the order
was made; or
(b) appeared at the hearing of that
application,
shall not be permitted to make an application under
subsection (3) except with leave of the Court.
(5) A person who makes an application under
subsection (1) or (3) shall give no less than fourteen days
written notice of the making of the application to the Director
of Public Prosecutions who shall be a party to any
proceedings in the application.
(6) An applicant or the Director of Public
Prosecutions may in accordance with the rules of court,
appeal against an order made under subsection (2).
(7) Any person appointed by the Court shall, on
application by any person who has obtained an order under
subsection (2), and where the period allowed by the rules of
court with respect to the making of appeals has expired and
any appeal from that order has been determined—
(a) direct that the property or part of it to
which the interest of the applicant
relates, be returned to the applicant;
or
(b) direct that an amount equal to the
value of the interest of the applicant,
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Discharge of
forfeiture order
on appeal and
quashing of
conviction.

as declared in the order, be paid to the
applicant.
50. (1) Where the Court makes a forfeiture order
against property in reliance on a person’s conviction of a
serious offence and the conviction is subsequently quashed,
the quashing of the conviction discharges the order.
(2) Where a forfeiture order against property is
discharged as provided for in subsection (1) or by the Court
hearing an appeal against the making of the order, any
person who claims to have an interest in the property
immediately before the making of the forfeiture order may
apply to the Registrar of Deeds in writing for the transfer of
the interest to the person.
(3) On receipt of an application under subsection
(2) the Registrar of Deeds shall—
(a) if the interest is vested in Guyana,
give directions that the property or
part thereof to which the interest of
the applicant relates be transferred to
the person; or
(b) in any other case, direct that there be
payable to the person an amount
equal to the interest as at the time the
order is made.
(4) In the exercise of his powers under this section,
the Registrar of Deeds shall have the power to do or
authorise the doing of anything necessary or convenient to
effect the transfer or return of the property, including the
execution of any instrument and the making of any
application for the registration of an interest in the property
on any appropriate register.

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Payment
instead of a
forfeiture
order.

Application of
procedure for
enforcing fines.
51. Where the Court is satisfied that a forfeiture order
should be made in respect of the property of a person
convicted of a serious offence but that the property or any
part of it or interest in it cannot be made subject to the order
and, in particular—
(a) cannot, on the exercise of due
diligence, be located;
(b) has been transferred to a third party
in circumstances which do not give
rise to a reasonable inference that the
title or interest was transferred for the
purpose of avoiding the forfeiture of
the property;
(c) is located outside Guyana;
(d) has been substantially diminished in
value or rendered worthless; or
(e) has been commingled with other
property that cannot be divided
without difficulty,
the Court may, instead of ordering the property or part of it
or interest in it to be forfeited, order the person to pay to the
State an amount equal to the value of the property, part or
interest.
52. Where the Court orders a person to pay an amount
under section 51, that amount shall be treated as if it were a
fine imposed upon the person in respect of a conviction for a
serious offence, and the Court shall—
(a) notwithstanding any other law,
impose in default of the payment of
that amount, a term of
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imprisonment—
(i) of twenty days , where the
amount does not exceed ten
thousand dollars;
(ii) of forty-two days, where the
amount exceeds ten thousand
dollars but does not exceed one
hundred and fifty thousand
dollars;
(iii) of twelve weeks, where the
amount exceeds one hundred
and fifty thousand dollars but
does not exceed three hundred
thousand dollars;
(iv) of six months where the
amount exceeds three hundred
thousand dollars but does not
exceed five hundred thousand
dollars;
(v) of ten months where the
amount exceeds five hundred
thousand dollars but does not
exceed seven hundred
thousand dollars;
(vi) of eighteen months where the
amount exceeds seven hundred
thousand dollars.
(b) direct that the term of imprisonment
imposed pursuant to paragraph (a) be
served consecutively with any other
form of imprisonment imposed on
that person or that the person is then
serving;
(c) direct that the rules regarding the
remission of sentences of prisoners
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Forfeiture where
a person dies or
absconds.

Pecuniary
penalty order on
conviction.
serving a term of imprisonment shall
not apply in relation to a term of
imprisonment imposed on a person
pursuant to paragraph (a).
53. (1) Where an application is made to the Court for a
forfeiture order against any tainted property in consequence
of a person having died or absconded in connection with a
serious offence and the Court is satisfied that—
(a) any property is tainted property in
respect of the serious offence;
(b) proceedings in respect of a serious
offence committed in relation to that
property were commenced; and
(c) the accused charged with the offence
referred to in paragraph (b) has died
or absconded,
the Court may order that the property or such property as is
specified by the Court in the order be forfeited.
(2) These provisions shall apply with modifications
that are necessary to give effect to this section.
54. (1) Subject to this section, where the Director of
Public Prosecutions applies to the Court for a pecuniary
penalty order against a person in respect of that person's
offence the Court shall, if it is satisfied that the person has
benefited from that offence, order him to pay to the State an
amount equal to the value of his benefit from the offence or a
lesser amount that the Court certifies in accordance with
section 57(2) to be the amount that might be realised at the
time the pecuniary penalty order is made.
(2) The Court shall assess the value of the benefits
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Rules of
determining
benefit and
assessing value.
derived by a person from the commission of an offence in
accordance with sections 55, 56, 57, and 58.
(3) The Court shall not make a pecuniary penalty
order under this section—
(a) until the period allowed by the rules
of court for the lodging of an appeal
against conviction has expired
without such appeal having been
lodged; or
(b) where an appeal against conviction
has been lodged until the appeal
lapses in accordance with the rules of
court or is finally determined,
whichever is the later date.
55. (1) Where a person obtains property directly or
indirectly as the result of, or in connection with the
commission of a serious offence, his benefit is the value of the
property so obtained including income, profits or other
benefits.
(2) Where a person derived an advantage as a
result of or in connection with the commission of a serious
offence, his advantage shall be deemed to be a sum of money
equal to the value of the advantage so derived.
(3) The Court, in determining whether a person
has benefited from the commission of a serious offence or
from the offence taken together with other serious offences
shall, unless the contrary is proved, deem—
(a) all property appearing to the Court to
be held by the person on the day on
which the application is made; and

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(b) all property appearing to the Court to
be held by the person at any time-
(i) within the period between the
day the serious offence, or the
earliest serious offence, was
committed and the day on
which the application is made;
or
(ii) within the period of six years
immediately before the day on
which the application is made,
whichever is the longer,
to be property that came into the possession or under the
control of the person by the reason of the commission of that
serious offence or those serious offences for which the person
was convicted;
(c) any expenditure by the person since
the beginning of that period to be
expenditure met out of payments
received by the person as a result of,
or in connection with, the commission
of that serious offence or those serious
offences; and
(d) any property received or deemed to
have been received by the person at
any time as a result of, or in
connection with the commission by
the person of that serious offence or
those serious offences as property
received by the person free of any
interest therein.
(4) Where a pecuniary penalty order has been
previously made against a person, in assessing the value of
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Statement
relating to
benefit from
commission of
serious offences.
any benefit derived by the person from the commission of
the serious offence, the Court shall leave out of account any
of the benefits that are shown to the Court to have been taken
into account in determining the amount to be recovered
under that order.
(5) If evidence is given at the hearing of the
application that the value of the person's property at any
time after the commission of the serious offence exceeded the
value of the person's property before the commission of the
offence, then the Court shall, subject to subsection (6), treat
the value of the benefit as being not less than the amount of
that excess.
(6) If, after evidence of the kind referred to in
subsection (5) is given, the person satisfies the Court that the
whole or part of the excess was due to causes unrelated to
the commission of the serious offence, subsection (5) does not
apply to the excess or, as the case may be, that part.
56. (1) Where—
(a) a person has been convicted of a
serious offence and the Director of
Public Prosecutions tenders to the
Court a statement as to any matters
relevant to—
(i) determining whether the
person has benefited from the
offence or from any other
serious offence of which the
person is convicted in the same
proceedings or which is taken
into account in determining the
person’s sentence; or
(ii) an assessment of the value of
the person's benefit from the
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offence or any other serious
offence of which the person is
convicted in the same
proceedings or which is taken
into account; and
(b) the person accepts to any extent an
allegation in the statement, the Court
may, for the purposes of so
determining or making that
assessment, treat the person's
acceptance as conclusive of the
matters to which it relates.
(2) Where—
(a) a statement is tendered under
subsection (l)(a); and
(b) the Court is satisfied that a copy of
that statement has been served on the
person,
the Court may require the person to indicate to what extent
the person accepts each allegation in the statement and so far
as the person does not accept any allegation, to indicate any
matters the person proposes to reply on.
(3) Where the person fails in any respect to comply
with a requirement under subsection (2), the person may be
treated for the purposes of this section as having accepted
every allegation in the statement other than—
(a) an allegation in respect of which he
complied with the requirement; and
(b) an allegation that he has benefited
from the serious offence or that any
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Amount
recovered under
pecuniary
penalty order.
property or advantage was obtained
by him as a result of or in connection
with the commission of the offence.
(4) Where—
(a) the person tenders to the Court a
statement as to any matters relevant
to determining the amount that might
be realised at the time the pecuniary
penalty order is made; and
(b) the Director of Public Prosecutions
accepts to any extent any allegation in
the statement,
the Court may, for the purposes of that determination, treat
the acceptance of the Director of Public Prosecutions as
conclusive of the matters to which it relates.
(5) An allegation may be accepted or a matter
indicated for the purposes of this section either—
(a) orally before the Court; or
(b) in writing in accordance with rules of
court.
(6) An acceptance by a person under this section
that he received any benefits from the commission of a
serious offence is admissible in any proceedings for any
offence.
57. (1) Subject to subsection (2), the amount to be
recovered in the person’s case under a pecuniary penalty
order shall be the amount which the Court assesses to be the
value of the person's benefit from the serious offence or if
more than one, all the offences in respect of which the order
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Variation of
pecuniary
penalty order.
may be made.
(2) Where the Court is satisfied as to any matter
relevant for determining the amount which might be realised
at the time the pecuniary penalty order is made, whether by
acceptance under section 56 or otherwise, the Court may
issue a certificate giving its opinion as to the matters
concerned, and shall do so if satisfied that the amount that
might be realised at the time the pecuniary penalty order is
made is less than the amount it assesses to be the value of the
person's benefit from the offence, or if more than one, all the
offences in respect of which the pecuniary penalty order may
be made.
58. Where—
(a) the Court makes a pecuniary penalty
order against a person in relation to a
serious offence;
(b) in calculating the amount of the
pecuniary penalty order, the Court
took into account a forfeiture order or
a proposed forfeiture order in respect
of property; and
(c) an appeal against forfeiture or a
forfeiture order is allowed or the
proceedings from the proposed
forfeiture order terminate without the
proposed forfeiture order being made,
the Director of Public Prosecutions may apply to the Court
for a variation of the pecuniary penalty order to increase the
amount of the order by the value of the property not so
forfeited or the value of the assets not taken into account at
the time of the making of the forfeiture order and the Court
may, if it considers it appropriate to do so, vary the order
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Lifting the
corporate veil.
accordingly.
59. (1) In assessing the value of benefits derived by a
person from the commission of a serious offence, the Court
may treat as property of the person any property that, in the
opinion of the Court, is subject to the effective control of the
person whether or not the person has—
(a) any legal or equitable interest in the
property; or
(b) any right, power or privilege in
connection with the property.
(2) Without prejudice to the generality of
subsection (1), the Court may have regard to—
(a) shareholdings in, debentures or
directorships in any company that has
an interest, whether direct or indirect,
in the property, and for this purpose
the Court may order the investigation
and inspection of the books of a
named company;
(b) any trust that has any relationship to
the property;
(c) any relationship whatsoever between
the persons having an interest in the
property or in companies of the kind
referred to in paragraph (a) or trust of
the kind referred to in paragraph (b),
and any other persons.
(3) Where the Court, for the purposes of making a
pecuniary order against a person, treats particular property
as the person’s property pursuant to subsection (1), the Court
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Enforcement of
pecuniary
penalty order.
may, on application by the Director of Public Prosecutions
make an order declaring that the property is available to
satisfy the order.
(4) Where the Court declares that property is
available to satisfy a pecuniary penalty order—
(a) the order may be enforced against the
property as if the property were the
property of the person against whom
the order is made; and
(b) a restraining order may be made in
respect of the property as if the
properly were property of the person
against whom the order is made.
(5) Where the Director of Public Prosecutions
makes an application for an order under subsection (3) that
property is available to satisfy a pecuniary penalty order
against a person—
(a) the Director of Public Prosecutions
shall give written notice of the
application to the person and to any
person who the Director of Public
Prosecutions has reason to believe
may have an interest in the property;
and
(b) the person and any person who
claims an interest in the property may
appear and adduce evidence at the
hearing.
60. Where the Court orders a person to pay an amount
under a pecuniary penalty order, the provisions of section 52
shall apply with such modifications as the Court may
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Discharge of
pecuniary
penalty order.

Appointment of
receivers.
Powers of
receivers.
determine for the purpose of empowering the Court to
impose a term of imprisonment on a person in default of
compliance by the person with a pecuniary penalty order.

61. A pecuniary penalty order is discharged—
(a) if the conviction of the serious
offences or offences in reliance on
which the order was made is or is
taken to be quashed and no
conviction for the offence or offences
is substituted;
(b) if the order is quashed on appeal; or
(c) on the satisfaction of the order by
payment of the amount due under the
order.
62. (1) This section applies if—
(a) a pecuniary penalty order is made;
(b) it is not satisfied; and
(c) it is not subject to appeal.
(2) On the application of the Director of Public
Prosecutions, the Court may by order appoint a receiver in
respect of realisable property.
63. (1) If the Court appoints a receiver under section
62, it may act under this section on the application of the
Director of Public Prosecutions.
(2) The Court may by order confer on the receiver
the following powers in relation to the realisable property—

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(a) power to take possession of the
property;
(b) power to manage or otherwise deal
with the property;
(c) power to realise the property, in such
manner as the Court may specify;
(d) power to start, carry on or defend any
legal proceedings in respect of the
property.
(3) The Court may by order confer on the receiver
power to enter any premises in Guyana and to do any of the
following—
(a) search for or inspect anything
authorised by the Court;
(b) make or obtain a copy, photograph or
other record of anything so
authorised;
(c) remove anything which the receiver is
required or authorised to take
possession of in pursuance of an order
of the Court.
(4) The Court may by order authorise the receiver
to do any of the following for the purpose of the exercise of
his functions—
(a) hold property;
(b) enter into contracts;
(c) sue and be sued;

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(d) employ agents;
(e) execute powers of attorney, deeds or
other instruments;
(f) take any other steps the Court thinks
appropriate.
(5) The Court may order any person who has
possession of realisable property to give possession of it to
the receiver.
(6) The Court—
(a) may order a person holding an
interest in realisable property to make
to the receiver such payment as the
Court specifies in respect of a
beneficial interest held by the
defendant or the recipient of a tainted
gift;
(b) may, on the payment being made, by
order transfer, grant or extinguish any
interest in the property.
(7) Subsections (2), (5) and (6) do not apply to
property for the time being subject to a charge under any
provision of any other written law that provides for the
charging of property for the purposes of any pre-existing
scheme for the forfeiture of the proceeds of crime or drug
trafficking.
(8) The Court shall not—
(a) confer the power mentioned in
subsection (2)(b) or (c) in respect of
property, or
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(b) exercise the power conferred on it by
subsection (6) in respect of property,
unless it gives persons holding
interests in the property, a reasonable
opportunity to make representations
to it.
(9) The Court may order that a power conferred by
an order under this section is subject to such conditions and
exceptions as it specifies.
(10) Managing or otherwise dealing with property
includes—
(a) selling the property or any part of it
or interest in it;
(b) carrying on or arranging for another
person to carry on any trade or
business the assets of which are or are
part of the property;
(c) incurring capital expenditure in
respect of the property.
(11) No distress may be levied against the property
except with the leave of the Court and subject to any terms
the Court may impose.
(12) If the receiver is appointed in respect of a
tenancy of any premises, no landlord or other person to
whom rent is payable may exercise a right within subsection
(13) except with the leave of the Court and subject to any
terms the Court may impose.
(13) A right is within this subsection if it is a right
of forfeiture by peaceable re-entry in relation to the premises
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Application of
sums by
receivers.
in respect of any failure by the tenant to comply with any
term or condition of the tenancy.
(14) If a Court in which proceedings are pending in
respect of any property is satisfied that an order under
section 64 appointing a receiver in respect of the property has
been applied for or made, the Court may either stay the
proceedings or allow them to continue on any terms it thinks
fit.
(15) Before exercising any power conferred by
subsection (14), the Court shall give an opportunity to be
heard to—
(a) the prosecutor, and
(b) the receiver if the order under section
63 has been made.
64. (1) This section applies to sums which are in the
hands of a receiver appointed under section 62 if they are—
(a) the proceeds of the realisation of
property under section 63;
(b) sums (other than those mentioned in
paragraph (a) in which the defendant
holds an interest.
(2) The sums shall be applied as follows—
(a) first, they shall be applied in payment
of such expenses incurred by a person
acting as a receiver;
(b) second, they shall be applied in
making any payments directed by the
Court;

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Rights of bona
fide third parties.
(c) third, they shall be applied on the
defendant’s behalf towards
satisfaction of the pecuniary penalty
order.
(3) If the amount payable under the pecuniary
penalty order has been fully paid and any sums remain in
the receiver's hands he shall distribute them—
(a) among such persons who held or hold
interests in the property concerned as
the Court directs, and
(b) in such proportions as it directs.
(4) Before making a direction under subsection (3)
the Court shall give persons who held or hold interests in the
property concerned a reasonable opportunity to make
representations to it.
(5) For the purposes of subsections (3) and (4) the
property concerned is—
(a) the property represented by the
proceeds mentioned in subsection
(l)(a);
(b) the sums mentioned in subsection
(1)(b).
(6) The receiver applies sums as mentioned in
subsection (2)(c) by paying them to the Court for enforcing
the pecuniary penalty order as if the amount ordered to be
paid were a fine on account of the amount payable under the
order.
65. (1) The measures and sanctions referred to in
sections 38 to 64 (inclusive) shall apply without prejudice to
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the rights of bona fide third parties.
(2) Proper notifications shall be made so that all
those claiming legitimate legal interest in property, proceeds
or instrumentalities may appear in support of their claims.
(3) A third party’s lack of good faith may be
inferred, at the discretion of the Court or the competent
authority, from the objective circumstances of the case.
(4) The Court or the competent authority shall
return the property, proceeds or instrumentalities to the
claimant, when it has been demonstrated to its satisfaction
that—
(a) the claimant has a legitimate legal
interest in the property, proceeds or
instrumentalities;
(b) no participation, collusion or
involvement with respect to money
laundering offence which is the
subject of the proceedings can be
imputed to the claimant;
(c) the claimant lacked knowledge and
was not intentionally ignorant of the
illegal use of the property, proceeds
or instrumentalities or if he had
knowledge, did not freely consent to
its illegal use;
(d) the claimant did not acquire any right
in the property, proceeds or
instrumentalities from a person
proceeded against under
circumstances that give rise to a
reasonable inference that any right
was transferred for the purpose of
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Limitations on
freezing or
forfeiture of
property.

Seizure and
detention of
terrorist cash.
avoiding the eventual subsequent
forfeiture of the property, proceeds or
instrumentalities, and;
(e) the claimant did all that could
reasonably be expected to prevent the
illegal use of the property, proceeds
or instrumentalities.
66. The provisions of sections 38 to 64 (inclusive) shall
only apply to property coming into the possession or under
the control of a person after the coming into force of this Act.
PART V
COMBATING THE FINANCING OF TERRORISM
67. (1) Where a police officer, customs officer or a
person authorised by the Director of the Financial
Intelligence Unit has reasonable grounds to suspect that any
cash—
(a) is intended to be used for the
purposes of terrorism;
(b) belongs to, or is held in trust for, a
terrorist organisation; or
(c) is or represents property obtained
through acts of terrorism, he may
seize the cash.
(2) A police officer, customs officer or a person
authorised by the Director of the Financial Intelligence Unit
may seize cash, even if he reasonably suspects part only of
the cash to be terrorist cash, where it is not reasonably
practicable to seize that part only of the cash.
(3) The police officer, customs officer or a person
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authorised by the Director of the Financial Intelligence Unit
may exercise his powers under subsection (1), whether or not
any proceedings have been brought for an offence in
connection with the terrorist cash.
(4) The police officer, customs officer or a person
authorised by the Director of the Financial Intelligence Unit
shall, as soon as is reasonably practicable but not later than
seven days, apply to a Judge in Chambers for a detention
order with respect to the cash seized under subsection (1).
(5) The Judge in Chambers shall not make an order
for detention of the cash unless he is satisfied that there are
reasonable grounds for suspecting that the cash—
(a) is intended to be used for the
purposes of terrorism;
(b) consists of resources of a terrorist
organisation; or
(c) is or represents property obtained
through terrorist activities.
(6) Subject to subsection (8), any order made under
subsection (5) shall remain valid for a period of ninety days,
and may be renewed for further periods of ninety days by
the Judge in Chambers, until production of the cash before
the Court in proceedings against any person for an offence
with which the cash is connected.
(7) Any cash detained under this section shall be
deposited in an interest-bearing account wherever possible.
(8) The cash, with the interest, may be released by
order of the Judge in Chambers—
(a) where the conditions under
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Terrorist
financing.
subsection (5) are no longer met; or
(b) where no proceedings are brought in
connection with the cash detained.
(9) For the purposes of this section—
“cash” means—
(a) coins and notes in any currency;
(b) postal orders;
(c) traveller’s cheques;
(d) bankers drafts;
(e) bearer bonds and bearer shares; or
(f) such other monetary instruments as
the Minister may, by notice published
in the Gazette, specify;
“customs officer” means a customs officer not below the rank
of Supervisor; "police officer" means a police officer
not below the rank of Superintendent of Police.
68. (1) Any person who by any means directly or
indirectly, wilfully provides or collects funds or other
property, with the intention that they should be used or in
the knowledge that they are to be used in whole or in part –
(a) to commit an act constituting an
offence in regard to and in accordance
with the definition of one of the
treaties listed in the appendix to the
International Convention for the
Suppression of the Financing of
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Terrorism to which Guyana is a party;
or
(b) to commit any act intended to cause
the death of or serious bodily injury to
any civilian or any other person not
directly involved in a situation of
armed conflict if, by virtue of its
nature or context, such act is intended
to intimidate a population or compel
a government or international
organisation to perform or refrain
from performing an act of any kind;
(c) by a terrorist;
(d) by a terrorist organisation,
commits an indictable offence and shall—
(i) if such act resulted in the death
of any person, be punishable
with a fine of not less than one
million five hundred thousand
dollars together with death;
(ii) in any other case, be punishable
with a fine of not less than five
hundred thousand dollars
together with imprisonment for
not less than ten years nor more
than fifteen years.
(2) An offence under this section is committed
whether or not the funds were actually used to carry out or
attempt a terrorist act or linked to a specific terrorist act.
(3) Every person who—

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(a) organises or directs others to commit;
(b) attempts to commit;
(c) conspires to commit; or
(d) participates as an accomplice to a
person committing, or attempting to
commit an offence under subsection
(1),
commits an indictable offence under this Act.
(4) Knowledge, intent or purpose required as an
element of the activities mentioned in subsections (1) and (3)
may be inferred from objective factual circumstances.
(5) A natural person who contravenes this section
commits an indictable offence and shall—
(a) if such act resulted in the death of any
person, be punishable with a fine of
not less than one million five hundred
thousand dollars together with death;
(b) in any other case , be punishable with
a fine of not less than five hundred
thousand dollars together with
imprisonment for not less than ten
years nor more than fifteen years, and
in the case of a body corporate, a fine
of not less than one million five
hundred thousand dollars.
(6) The Minister may, by notice published in the
Gazette, publish a list of terrorists or terrorist organisations as
defined in the International Conventions on terrorism.

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Related offences
in relation to
terrorist
financing.

Dealing in
terrorist
property.
69. Any person who—
(a) solicits, receives, provides or
possesses money or other property;
(b) enters into, or becomes concerned in,
an arrangement as a result of which
money or other property is made
available or is to be made available,
for the purposes of terrorism, or for a terrorist organisation,
commits an indictable offence and shall—
(i) if such act resulted in the death
of any person, be punishable
with a fine of not less than one
million five hundred thousand
dollars together with death;
(ii) in any other case, be punishable
with a fine of not less than five
hundred thousand dollars
together with imprisonment for
not less than ten years nor more
than fifteen years.

70. (1) Any person who enters into, or becomes
concerned in, an arrangement which facilitates the retention
or control by, or on behalf of another person, of terrorist
property, in any manner, including—
(a) concealment;
(b) removal from the jurisdiction; or
(c) transfer to any other person,
commits an indictable offence and is liable to a fine of not
less than five hundred thousand dollars together with
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Freezing of
terrorist assets.
imprisonment for not less than ten years nor more than
fifteen years.
(2) It shall be a defence for a person charged under
subsection (1) to prove that the person did not know and had
no reasonable cause to suspect that the arrangement related
to terrorist property.
71. (1) Where the Director of Public Prosecutions has
reasonable grounds to believe that any property is terrorist
property or is held on behalf of a terrorist or a terrorist
organisation, the Director of Public Prosecutions may make
an application to the High Court to freeze any account or
other property held by any person on behalf of a terrorist or
a terrorist organisation.
(2) The Court may, upon the application of the
Director of Public Prosecutions, order the extension of
restraint or freeze direction issued pursuant to subsection (1):
Provided the Court is satisfied on the balance of
probabilities that the account or other property is held by or
on behalf of a terrorist or terrorist organisation.
(3) Where the Director of Public Prosecutions
decides to revoke an order which has been made by the
Court under subsection (1), he shall notify the Court
accordingly and the Court shall, if satisfied, revoke the
freezing order.
(4) Revocation of a freezing order under subsection
(3) shall not affect the validity of any action taken on the
basis of the direction of the order prior to revocation.
(5) A person affected by a freezing order issued
under subsection (1) may apply to the Court for a revocation
of the order in relation to his property.

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Application for
forfeiture order.

Notice of
application
(6) The Court shall revoke the freezing order in
relation to the applicant under subsection (7) if satisfied that
the account or other property or the person's interest in it is
not owned or held by or on behalf of a terrorist or terrorist
organisation.
(7) It shall be a defence against any action brought
against the Director of Public Prosecutions or any person
who complies with a direction issued under subsection (1)
that the issuance of the direction or the compliance with it
was in accordance with the provisions of this section.
(8) No person shall be held liable in any Court for
or with respect to anything done or omitted to be done in
good faith in accordance with this section.
72. The Director of Public Prosecutions may apply to
the Court for a forfeiture order against terrorist property.
73. Where the Director of Public Prosecutions applies
under section 72 for a forfeiture order—
(a) the Director of Public Prosecutions
shall give no less than thirty days
written notice of the application only
to any person who is known to own
or control directly or indirectly,
wholly or jointly or have an interest in
the terrorist property in respect of
which the application is being made;
(b) the person and any other person who
claims an interest in the property may
appear and produce evidence at the
hearing of the application; and
(c) the Court may, at any time before the
final determination of the application,
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Forfeiture order
for terrorist
property.
direct the Director of Public
Prosecutions to—
(i) give notice of the application to
any person who, in the opinion
of the Court, appears to have
an interest in the property; or
(ii) publish in the Gazette or a daily
newspaper published and
circulating in Guyana, a notice
of the application.
74. (1) Where, upon application by the Director of
Public Prosecutions, the Court is satisfied, on a balance of
probabilities, that property to which the application relates is
terrorist property, the Court shall order that specified
property be forfeited.
(2) Despite subsection (1), if a person claiming an
interest in property to which an application relates satisfies
the Court that he—
(a) has an interest in the property;
(b) has, in the circumstances, exercised
reasonable care to ensure that the
property is not terrorist property; and
(c) is not a member of a terrorist group,
the Court shall order that the interest shall not be affected by
the forfeiture order, and the Court shall declare the nature
and extent of the interest in question.
(3) If a person obtains an interest in property after
it becomes terrorist property, an order shall only be made
under subsection (2) in respect of that interest if the person is
a bona fide purchaser for value, without reason to suspect that
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Effect of
forfeiture order
in respect of
terrorist
property.
c. 5:02
the property is terrorist property.
(4) Where the Court makes a forfeiture order, the
Court may give such directions as are necessary or
convenient for giving effect to the order.
75. (1) Subject to subsection (2), where a Court makes
forfeiture orders against any terrorist property, the property
vests absolutely in the State by virtue of the order.
(2) Where property ordered to be forfeited is
registrable property—
(a) the property vests in the State until
the applicable registration
requirements have been complied
with;
(b) the State is entitled to be registered as
owner of the property;
(c) the Director of Public Prosecutions
has power on behalf of the
Government to do or authorise the
doing of anything necessary or
convenient to obtain the registration
of the State as owner, including the
execution of any instrument to be
executed by a person transferring an
interest in property of that kind.
(3) In this section, “registrable property” means
property the title to which is passed by registration in
accordance with the provisions of the Land Registry Act.

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Assistance to
foreign
Countries.
PART VI
INTERNATIONAL COOPERATION
76. (1) The Court or the competent authority shall
cooperate with the Court or other competent authority of
another state, taking the appropriate measures to provide
assistance in matters concerning money laundering offences
and terrorist financing offences, in accordance with this Act,
and within the limits of their respective legal systems.
(2) The Court or the competent authority may
receive a request from the Court or other competent
authority of another state to identify, trace, produce, freeze,
seize or forfeit the property, proceeds, or instrumentalities
connected to money laundering offences, terrorist financing
offences and serious offences, and may take appropriate
actions, including those contained in sections 38 to 64
(inclusive).
(3) The Court or the competent authority may
receive and take appropriate measures with respect to a
request from a Court or other competent authority from
another state, for assistance related to a civil, criminal, or
administrative investigation, prosecution or proceedings, as
the case may be, involving money laundering offences and
terrorist financing offences or the proceeds of crime, or
violations of any provision of this Act.
(4) Assistance referred to in this section may
include providing original or certified copies of relevant
documents and records, including those of financial
institutions and government agencies, obtaining testimony in
the requested states, facilitating the voluntary presence or
availability in the requesting state of persons, including those
in custody, to give testimony, locating or identifying persons,
service of documents, examining objects and places,
executing searches and seizures, providing information and
evidentiary items, and provisional measures.
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Registration of
external
confiscation or
forfeiture
orders.
(5) Any provisions referring to secrecy or
confidentiality shall not be an impediment to compliance
with this section, when the information is requested by or
shared with the Court or other competent authority.
(6) Assistance referred to in this section shall be
provided only to those countries with whom Guyana has
entered into mutual legal assistance treaties on a bilateral or
multilateral basis, and all such assistance shall be subject to
the terms of such treaties.
77. (1) On an application made by or on behalf of the
government of a designated country referred to in section 76
(6) and only when a mutual legal assistance treaty is in force
between Guyana and that country, the Court may register
and enforce an external confiscation or forfeiture order made
there if—
(a) it is satisfied that at the time of
registration the order is in force and
not subject to appeal;
(b) it is satisfied, where the person
affected by the order did not appear
in the proceedings, that he received
notice of the proceedings in sufficient
time to enable him to defend them;
and
(c) it is of the opinion that enforcing the
order in Guyana would not be
contrary to the interest of justice.
(2) In subsection (1) (a), “appeal” includes—
(a) any proceedings by way of
discharging or setting aside a
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Evidence of
corresponding
law.
c. 10:10
judgment; and
(b) an application for a new trial or a stay
of execution.
(3) The Court shall cancel the registration of an
external confiscation or forfeiture order if it appears to the
Court that the order has been satisfied by payment of the
amount due under it.
78. (1) A document purporting to be issued by or on
behalf of the Government of a country or territory and
purporting to state the terms of a corresponding law in force
in that country or territory shall be admitted in evidence, in
proceedings under this Act, on its production by the
prosecution without further proof, and such document shall
be conclusive evidence that—
(a) it is issued by or on behalf of the
government of that country or
territory;
(b) the terms of such law are as stated in
the document;
(c) any facts stated in the document to
constitute an offence under such law
do constitute such offence.
(2) “Corresponding law”—
(a) in relation to proceedings relating to
drug trafficking has the meaning
given in section 2 of the Narcotic
Drugs and Psychotropic Substances
(Control)Act and;
(b) in any other case, means a law which
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Interpretation.
corresponds with a provision of
Guyana law which creates a relevant
offence.
PART VII
CIVIL FORFEITURE
79. In this Part save where the context otherwise
requires—
“the applicant” means an officer who has applied to the
Court for the making of an interim order or a restraint
order and, in relation to such an order that is in force,
means any or, as appropriate, any officer;
“dealing”, in relation to property in the possession or control
of a person, includes—
(a) where a debt is owed to that person,
making a payment to any person in
reduction of the amount of the debt,
(b) removing the property from the State,
and
(c) in the case of money or other property
held for the person by another person,
paying or releasing or transferring it
to the person or to any other person;
“civil forfeiture order” means an order under section 82;
“restraint order” means an order under section 81;
“officer” means a police officer not below the rank of
Superintendent of Police or a person authorised by the
Director of the Financial Intelligence Unit;

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Interim order.
“proceeds of crime” means any property obtained or
received at any time (whether before or after the passing
of this Act) by or as a result of or in connection with the
commission of a serious offence whether that offence has
been committed in Guyana or elsewhere provided that if
the serious offence has been committed abroad it would
be a serious offence if the same offence was committed
within this jurisdiction,
“specified property” means any property of whatever
description which forms the basis of any application
under this Act as being the proceeds of a serious offence;
“respondent” means a person in respect of whom an
application for an interim order or a restraint order has
been made or in respect of whom such an order has been
made and includes any person who, but for this Act,
would become entitled, on the death of the first-
mentioned person, to any property to which such an
order relates being an order that is in force and is in
respect of that person.
80. (1) Where it is shown to the satisfaction of the
Court on the balance of probabilities upon application to it ex
parte by an officer that—
(a) a person is in possession or control
of—
(i) specified property and that the
said property constitutes,
directly or indirectly, proceeds
of crime; or
(ii) specified property that was
acquired, in whole or in part,
with or in connection with
property that, directly or
indirectly, constitutes proceeds
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of crime; and
(b) that the value of the property or, as
the case may be, the total value of the
specified property referred to in both
subparagraphs (i) and (ii), of
paragraph (a) is not less than two
million dollars,
the Court may make an interim order prohibiting the person
or any other specified person or any other person having
notice of the order from disposing of or otherwise dealing
with the whole or, if appropriate, a specified part of the
property or diminishing its value during the period of fifty-
six days from the date of the making of the order.
(2) An interim order—
(a) may contain such provisions,
conditions and restrictions as the
Court considers necessary or
expedient; and
(b) shall provide for notice of it to be
given to the respondent and any other
person who appears to be or is
affected by it unless the Court is
satisfied that it is not reasonably
possible to ascertain his or their
whereabouts.
(3) Where an interim order is in force, the Court,
on application to it in that behalf by the respondent or any
other person claiming ownership of any of the property
concerned may, if it is shown to the satisfaction of the Court
that—
(a) the property concerned or a part of it
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is not property to which
subparagraph (i) or (ii) of subsection
(1) (a) applies; or
(b) the value of the property to which
those subparagraphs apply is less
than two million dollars,
discharge or, as may be appropriate, vary the order.
(4) The Court shall, on application to it in that
behalf at any time during the period of fifty-six days by the
applicant, discharge an interim order.
(5) Subject to subsections (3) and (4), an interim
order shall continue in force until the expiration of the period
of fifty-six days from the date of its making and shall then
lapse unless an application for a restraint order in respect of
any of the specified property concerned is brought during
the fifty-six day period even if it has not been disposed of
and if such in application is brought, the interim order shall
remain in force until—
(a) the determination of the application
for a restraint order;
(b) the expiration of the ordinary time for
bringing an appeal from such a
determination;
(c) if such an appeal is brought, the
determination or abandonment of it
or of any further appeal or the
expiration of the ordinary time for
bringing any further appeal,
whichever is the latest.

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Restraint order.
(6) Notice of an application under this section shall
be given—
(a) in the case where the application is
under subsection (3) to the applicant
by the respondent or other person,
making the application;
(b) in the case where the application is
under subsection (4), by the applicant
to the respondent or any person
reasonably perceived to be an
interested person unless the Court is
satisfied that it is not reasonably
possible to ascertain the whereabouts
of any person interested or affected by
the application.
81. (1) Where, on an application to it by the applicant,
it appears to the Court, on evidence tendered by the
applicant, consisting of or including evidence admissible by
virtue of section 86—
(a) that a person is in possession or
control of—
(i) specified property and that the
property constitutes, directly or
indirectly, proceeds of crime; or
(ii) specified property that was
acquired, in whole or in part,
with or in connection with
property that, directly or
indirectly, constitutes proceeds
of crime; and
(b) that the value of the property or, as
the case may be, the total value of the
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property referred to in both
subparagraphs (i) and (ii) of
paragraph (a) is not less than two
million dollars,
the Court shall make a restraint order prohibiting the
respondent or any other specified person or any other
person having notice of the order from disposing of or
otherwise dealing with the whole or, if appropriate, a
specified part of the property or diminishing its value,
unless, it is shown to the satisfaction of the Court, on
evidence tendered by the respondent or any other person—
(i) that that particular property
does not constitute, directly or
indirectly, proceeds of crime
and was not acquired, in whole
or in part, with or in connection
with property that, directly or
indirectly, constitutes proceeds
of crime; or
(ii) that the value of all the
property to which the order
would relate is less than two
million dollars:
Provided, however, that the Court shall not make the
order if it is satisfied that there would be a serious risk of
injustice.
(2) A restraint order—
(a) may contain such provisions,
conditions and restrictions as the
Court considers necessary or
expedient; and
(b) shall provide for notice of it to be
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given to the respondent and any other
person who appears to be or is
affected by it unless the Court is
satisfied that it is not reasonably
possible to ascertain his or their
whereabouts.
(3) Where a restraint order is in force, the Court, on
application to it in that behalf at any time by the respondent
or any other person claiming ownership of any of the
property concerned, may, if it is shown to the satisfaction of
the Court that the property or a specified part of it is
property to which paragraph (i) of subsection (1) applies, or
that the order causes any other injustice, discharge or, as may
be appropriate, vary the order.
(4) The Court shall, on application to it in that
behalf at any time by the applicant, discharge a restraint
order.
(5) Subject to subsections (3) and (4), a restraint
order shall continue in force until—
(a) the determination of an application
for a civil forfeiture order in relation
to the property concerned; and
(b) the expiration of the ordinary time for
bringing an appeal from that
determination;
(c) if such an appeal is brought, it or any
further appeal is determined or
abandoned or the ordinary time for
bringing any further appeal has
expired,
whichever is the latest, and shall then lapse.
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Civil forfeiture
order.
(6) Notice of an application under this section shall
be given—
(a) in case the application is under
subsection (1) or (4), by the applicant
to the respondent, unless the Court is
satisfied that it is not reasonably
possible to ascertain his whereabouts;
(b) in case the application is under
subsection (3), by the respondent or
other person making the application
to the applicant,
and, in either case, to any other person in relation to whom
the Court directs that notice of the application he given to
him .
(7) Where a forfeiture order, or a confiscation
order, relates to any specified property that is the subject of
an interim order, or a restraint order made under this Act
that is in force, the interim order or, as the case may be, the
restraint order shall—
(a) if it relates only to the specified
property, stand discharged; and
(b) if it relates also to other property,
stand varied by the exclusion from it
of the specified property.
82. (1) Subject to subsection (2), the Court, on
application to it by the applicant, may make a civil forfeiture
order directing that the whole or, if appropriate, a specified
part of the property be transferred, subject to such terms and
conditions as the Court may specify, to a receiver or to such
other person as the Court may determine.
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(2) Subject to subsections (6) and (8), the Court
shall not make a civil forfeiture order in relation to any
property the subject of an application under subsection (1)
unless it is shown to its satisfaction that particular property
subject to the application does constitute, directly or
indirectly, proceeds of crime or was acquired, in whole or in
part, with or in connection with property that, directly or
indirectly, constitutes proceeds of crime.
(3) The applicant shall give notice to the
respondent unless the Court is satisfied that it is not
reasonably possible to ascertain his whereabouts, and to such
other person if any as the Court may direct of an application
under this section.
(4) A civil forfeiture order shall operate to deprive
the respondent of his rights if any in or to the property to
which it relates and, upon the making of the order, the
property shall stand transferred to the Court appointed
receiver or other person to whom it relates.
(5) The receiver may sell or otherwise dispose of
any property transferred to him under this section, at the
direction of the Court, and any proceeds of such a
disposition and any moneys transferred to him under this
section shall be paid into the Consolidated Fund.
(6) In proceedings under subsection (1), before
deciding whether to make a civil forfeiture order, the Court
shall give an opportunity to be heard by the Court and to
show cause why the order should not be made to any person
claiming ownership of any of the property concerned.
(7) The Court, if it considers it appropriate to do so
in the interest of justice, on the application of the respondent
or, if the whereabouts of the respondent cannot be
ascertained, on its own initiative, may adjourn the hearing of
an application under subsection (1) for such period not
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Ancillary orders
and provision in
relation to
certain profits
or gains etc.

Order in
relation to
property the
subject of
interim order
or restraint
order.
exceeding two years as it considers reasonable.
(8) The Court shall not make a civil forfeiture order
if it is satisfied that there would be a serious risk of injustice.
83. (1) At any time while an interim order or a
restraint order is in force, the Court may, on application to it
in that behalf by the applicant, make such orders as it
considers necessary or expedient to enable the order
aforesaid to have full effect.

(2) Notice of an application under this section shall
be given by the applicant to the respondent unless the Court
is satisfied that it is not reasonably possible to ascertain his
whereabouts and to any other person in relation to whom the
Court directs that notice of the application be given to him.
(3) An interim order, a restraint order or a civil
forfeiture order may be expressed to apply to any profit or
gain or interest, dividend or other payment or any other
property payable or arising, after the making of the order, in
connection with any other property to which the order
relates.
84. (1) At any time while an interim order or a
restraint order is in force, the Court may, on application to it
in that behalf by the respondent or any other person affected
by the order, make such orders as it considers appropriate in
relation to any of the property concerned if it considers it
essential to do so for the purpose of enabling—
(a) the respondent to discharge the
reasonable living and other necessary
expenses including legal expenses in
or in relation to proceedings under
this Part incurred or to be incurred by
or in respect of the respondent and his
dependants; or
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Receiver.
(b) the respondent or that other person to
carry on a business, trade, profession
or other occupation to which any of
that property relates, but the Court
shall not make an order under this
section unless it is satisfied that there
is no other means by which the living
and other necessary expenses will be
paid.
(2) An order under this section may contain such
conditions and restrictions as the Court considers necessary
or expedient for the purpose of protecting the value of the
property concerned and avoiding any unnecessary
diminution thereof.
(3) Notice of an application under this section shall
be given by the person making the application to the
applicant and any other person in relation to whom the
Court directs that notice of the application be given to him.
85. (1) Where an interim order or a restraint order is in
force, the Court may at any time appoint a receiver—
(a) to take possession of any property to
which the order relates;
(b) in accordance with the Court’s
directions, to manage, keep
possession or dispose of or otherwise
deal with any property in respect of
which he is appointed,
subject to such exceptions and conditions if any as may be
specified by the Court, and may require any person having
possession or control of property in respect of which the
receiver is appointed to give possession of it to the receiver.
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Provisions in
relations to
evidence and
proceedings
under this Part.
(2) Where a receiver takes any action under this
section—
(a) in relation to property which is not
property the subject of an interim
order or a restraint order, being action
which he would be entitled to take if
it were such property; and
(b) believing, and having reasonable
grounds for believing, that he is
entitled to take that action in relation
to that property,
the receiver shall not be liable to any person in respect of any
loss or damage resulting from such action except in so far as
the loss or damage is caused by his negligence.
86. (1) Where an officer states—
(a) in proceedings under section 82, on
affidavit or, if the Court so directs, in
oral evidence; or
(b) in proceedings under section 83, in
oral evidence,
that the officer believes either or both of the following, that is
to say-
(i) that the respondent is in
possession or control of
specified property and that the
property constitutes, directly or
indirectly, proceeds of crime;
(ii) that the respondent is in
possession of or control of
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specified property and that the
property was acquired, in
whole or in part, with or in
connection with property that,
directly or indirectly,
constitutes proceeds of crime,
and that the value of the property or, as the case may be, the
total value of the property referred to in both paragraphs (i)
and (ii) is not less than two million dollars then, if the Court
is satisfied that there are reasonable grounds for the belief
aforesaid, the statement shall be evidence of the matter
referred to in paragraph (i) or in paragraph (ii) or in both, as
may be appropriate, and of the value of the property.
(2) The standard of proof required to determine
any question arising under this Part shall be on the balance
of probabilities.
(3) Proceedings under this Part in relation to an
interim order shall be heard otherwise than in public and any
other proceedings under this Part may, if the respondent or
any other party to the proceedings (other than the applicant)
so requests and the Court considers it proper, be heard
otherwise than in public.
(4) The Court may, if it considers it appropriate to
do so, prohibit the publication of such information as it may
determine in relation to proceedings under this Part,
including information in relation to applications for, the
making or refusal of and the contents of orders under this
Part and the persons to whom they relate.
(5) Production to the Court in proceedings under
this Part of a document purporting to authorise a person,
who is described therein as an officer of the Financial
Intelligence Unit, required to perform the functions conferred
on an officer under this Part and signed by the Director shall
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Affidavit
specifying
property and
income of
respondent.

Registration of
interim orders
and restraint
orders.
be evidence that the person is an officer so authorised.
87. At any time during proceedings under sections 80
or 81 or while an interim order or a restraint order is in force,
the Court or, as appropriate, in the case of an appeal in such
proceedings, the Court of Appeal may by order direct the
respondent to file an affidavit specifying—
(a) the property of which the respondent
is in possession or control; or
(b) the income, and the sources of the
income, of the respondent during
such period not exceeding ten years
ending on the date of the application
for the order as the Court concerned
may specify, or both.
88. (1) Where an interim order or an restraint order is
made, the Registrar of the Supreme Court shall, in the case of
registered land, furnish the Land Registry with notice of the
order and the Registrar of Lands shall thereupon cause an
entry to be made in the appropriate register inhibiting, until
such time as the order lapses, is discharged or is varied so as
to exclude the registered land or any charge thereon from the
application of the order, any dealing with any registered land
or charge which appears to be affected by the order.
(2) Where notice of an order has been given under
subsection (1) and the order is varied in relation to registered
land, the Registrar of the Supreme Court shall furnish the
Registrar of Lands with notice to that effect and the Registrar
of Lands shall thereupon cause the entry made under
subsection (1) of this section to be varied to that effect.
(3) Where notice of an order has been given under
subsection (1) and the order is discharged or lapses, the
Registrar of the Supreme Court shall furnish the Registrar of
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c. 89:01
Lands with notice to that effect and the Registrar of Lands
shall cancel the entry made under subsection (1).
(4) Where an interim order or a restraint order is
made, the Registrar of the Supreme Court shall, in the case of
transported land, furnish the Registrar of Deeds with notice
of the order and the Registrar of Deeds shall thereupon cause
the notice to be registered in the Deeds Registry.
(5) Where notice of an order has been given under
subsection (4) and the order is varied, the Registrar of the
Supreme Court shall furnish the Registrar of Deeds with
notice to that effect and the Registrar of Deeds shall
thereupon cause the notice registered under subsection (4) to
be varied to that effect.
(6) Where notice of an order has been given under
subsection (4) and the order is discharged or lapses, the
Registrar of the Supreme Court shall furnish the Registrar of
Deeds with notice to that effect and the Registrar of Deeds
shall thereupon cancel the registration made under
subsection (4).
(7) Where an interim order or an restraint order is
made which applies to an interest in a company or to the
property of a company, the Registrar of the Supreme Court
shall furnish the Registrar of Companies with notice of the
order and the Registrar of Companies shall thereupon cause
the notice to be entered in the Register of Companies
maintained under the Companies Act.
(8) Where notice of an order has been given under
subsection (7) and the order is varied, the Registrar of the
Supreme Court shall furnish the Registrar of Companies with
notice to that effect and the Registrar of Companies shall
thereupon cause the notice entered under subsection (7) to be
varied to that effect.

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Bankruptcy of
respondent, etc.

Property subject
to interim order,
restraint order
or disposal dealt
with by the
trustees in
bankruptcy.
(9) Where notice of an order has been given under
subsection (7) and the order is discharged or lapses, the
Registrar of the Supreme Court shall furnish the Registrar of
Companies with notice to that effect and the Registrar of
Companies shall thereupon cancel the entry made under
subsection (7).
89. (1) Where a person who is in possession or control
of property is adjudicated bankrupt, property subject to an
interim order, a restraint order, or a civil forfeiture order,
made before the order adjudicating the person bankrupt, is
excluded from the property of the bankrupt.
(2) Where a person has been adjudicated bankrupt,
the powers conferred on the Court by section 80 or 81 shall
not be exercised in relation to property of the bankrupt.
90. (1) Without prejudice to the generality of any
provision of any other law, where—
(a) a trustee in bankruptcy, seizes or
disposes of any property in relation to
which his functions are not
exercisable because it is subject to an
interim order, a restraint order or a
civil forfeiture order; and

(b) at the time of the seizure or disposal
he believes, and has reasonable
grounds for believing, that he is
entitled (whether in pursuance of an
order of a Court or otherwise) to seize
or dispose of that property,
he shall not be liable to any person in respect of any loss or
damage resulting from the seizure or disposal except in so
far as the loss or damage is caused by his negligence in so
acting, and he shall have a lien on the property, or the
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Winding up of
company in
possession or
control of
property the
subject of interim
order, restraint
order or civil
forfeiture order.
proceeds of its sale, for his expenses incurred in connection
with the bankruptcy or other proceedings in relation to
which the seizure or disposal purported to take place and for
so much of his remuneration as may reasonably be assigned
for his acting in connection with those proceedings.
(2) Where the trustee appointed as. aforesaid
incurs expenses in respect of such property as is mentioned
in subsection (1) (a) and in so doing does not know and has
no reasonable grounds to believe that the property is for the
time being subject to an order under this Part, he shall be
entitled whether or not he has seized or disposed of that
property so as to have a lien to payment of those expenses.
91. (1) Where property, the subject of an interim-
order, a restraint order or a civil forfeiture order made before
the relevant time, is in the possession or control of a
company and an order for the winding up of the company
has been made or a resolution has been passed by the
company for a voluntary winding up, the functions of the
liquidator or any provisional liquidator shall not be
exercisable in relation to the property.
(2) Where, in the case of a company, an order for
its winding up has been made or such a resolution has been
passed, the powers conferred by section 80 or 81 on the Court
shall not be exercised in relation to any property held by the
company in relation to which the functions of the liquidator
are exercisable—
(a) so as to inhibit him from exercising
those functions for the purpose of
distributing any property held by the
company to the company’s creditors;
or
(b) so as to prevent the payment out of
any property of expenses including
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Immunity from
proceedings.

Seizure of
certain property.
the remuneration of the liquidator or
any provisional liquidator properly
incurred in the winding up in respect
of the property.
(3) In this section –
“company” means any company which may be wound up;
“relevant time” means—
(a) where no order for the winding up of
the company has been made, the time
of the passing of the resolution for
voluntary winding up;
(b) where such an order has been made
and, before the presentation of the
petition for the winding up of the
company by the Court, such a
resolution had been passed by the
company, the time of the passing of
the resolution; and
(c) in any other case where such an order
has been made, the time of the
making of the order.
92. No action or proceedings of any kind shall lie
against a bank, building society or other financial institution
or any other person in any Court in respect of any act or
omission done or made in compliance with an order under
this Part.
93. (1) Where an order under this Part is in force, an
officer may, for the purpose of preventing any property the
subject of the order being removed from the State, seize the
property.

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Compensation.
(2) Property seized under this section shall be dealt
with in accordance with the directions of the Court.
94. (1) Where—
(a) an interim order is discharged or
lapses and a restraint order in relation
to the matter is not made or, if made,
is discharged otherwise than pursuant
to section 81(7);
(b) a restraint order is discharged
otherwise than pursuant to section
81(7) or lapses and a civil forfeiture
order in relation to the matter is not
made or, if made, is discharged;
(c) an interim order or a restraint order is
varied (otherwise than pursuant to
section 81(7)) or a civil forfeiture
order is varied on appeal,
the Court may, on application to it in that behalf by a person
who shows to the satisfaction of the Court that—
(i) he is the owner of any property
to which—
(I) an order referred to in
paragraphs (a) or (b)
related; or
(II) an order referred to in
paragraph (c) had related
but, by reason of its
being varied by a Court,
has ceased to relate; and

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Investigative
powers.

Customer
information
order.
(ii) the property does not
constitute, directly or
indirectly, proceeds of crime or
was not acquired, in whole or
in part, with or in connection
with property that, directly or
indirectly, constitutes proceeds
of crime,
award to the person if any such compensation payable by the
Minister as it considers just in the circumstances in respect of
any loss incurred by the person by reason of the order
concerned.
(2) The Attorney General shall be given notice of,
and be entitled to be heard in, any proceedings under this
section.
95. (1) Where an officer has obtained an interim order
and for the purposes of an investigation to enable a Court to
determine whether property subject to an interim order
should be made subject of a restraint order or be made
subject to a civil forfeiture order the Court may make one or
more of the following orders, upon the application of an
officer who acts with the authority of the Director of Public
Prosecutions—
(a) a customer information order; or
(b) a disclosure order.
96. (1) A customer information order in relation to a
person, financial institution or a reporting entity, is
information whether the person holds, or has held, an
account or accounts at the financial institution or reporting
entity whether solely or jointly with another and if so,
information as to—

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(a) the matters specified in subsection (2)
if the person is an individual; or
(b) the matters specified in subsection (3)
if the person is a company or limited
liability partnership or a similar body
incorporated or otherwise established
outside Guyana.
(2) The matters referred to in subsection (1) (a)
are—
(a) the account number or numbers;
(b) the person’s full name;
(c) his date of birth;
(d) his most recent address and any
previous addresses;
(e) the date or dates on which he began
to hold the account or accounts and, if
he has ceased to hold the account or
any of the accounts, the date or dates
on which he did so;
(f) such evidence of his identity as was
obtained by the financial institution or
reporting entity under or for the
purposes of any provisions of this Act
relating to money laundering or
terrorist financing;
(g) the full name, date of birth and most
recent address, and any previous
addresses, of any person who holds,
or has held, an account at the financial
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c. 89:01

institution or reporting entity jointly
with him; and
(h) the account number, or numbers of
any other account or accounts held at
the financial institution or reporting
entity to which he is a signatory and
details of the other person holding the
other account or accounts.
(3) The matters referred to in subsection (1) (b)
are—
(a) the account number or numbers;
(b) the person’s full name;
(c) a description of any business which
the person carries on;
(d) the country or territory in which it is
incorporated or otherwise established
and any number allocated to it under
the Companies Act or corresponding
legislation of any country or territory
outside Guyana;
(e) any number assigned to it for the
purposes of value added tax or other
tax in Guyana;
(f) its registered office, and any previous
registered offices, under the
Companies Act or anything similar
under corresponding legislation of
any country or territory outside
Guyana;
(g) its registered office, and any previous
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c. 89:02


Requirements
for making of
customer
information
order.
registered offices, under the
Partnership Act or anything similar
under corresponding legislation of
any country or territory outside
Guyana;
(h) the date or dates on which it began to
hold the account or accounts and, if it
has ceased to hold the account or any
of the accounts, the date or dates on
which it did so;
(i) such evidence of its identity as was
obtained by the financial institution or
reporting entity under or for the
purposes of any provisions of this Act
relating to money laundering or
terrorist financing; and
(j) the full name, date of birth and most
recent address and any previous
addresses of any person who is a
signatory to the account or any of the
accounts.
(4) The Minister may by order provide for
information of a description specified in the order—
(a) to be customer information; or
(b) no longer to be customer information.
97. The requirements for the making of a customer
information order shall be—
(a) reasonable grounds for suspecting
that the property specified in the
application for the order is the
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Offences.
proceeds of crime;
(b) reasonable grounds for believing that
the person specified in the order holds
all or some of the proceeds of crime;
(c) reasonable grounds for believing that
customer information which may be
provided in compliance with the
order is likely to be of substantial
value (whether or not by itself) for the
purposes of which the order is sought;
or
(d in the case of any investigation,
reasonable grounds for believing that
it is in the public interest for the
customer information to be provided,
having regard to the benefit likely to
accrue to the investigation if the
information is obtained.
98. (1) A reporting entity commits an offence if
without, reasonable excuse it fails to comply with a
requirement imposed on it under a customer information
order.
(2) A reporting entity guilty of an offence under
subsection (1) is liable on summary conviction to a fine not
exceeding one million dollars.
(3) A reporting entity commits an offence if, in
purported compliance with a customer information order,
it—
(a) makes a statement which it knows to
be false or misleading in a material
particular; or
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Statements.
c. 5:03
(b) recklessly makes a statement which is
false or misleading in a material
particular.
(4) A reporting entity guilty of an offence under
subsection (3) is liable
(a) on summary conviction, to a fine not
exceeding one million on dollars or
(b) on conviction on indictment,, to a fine
not exceeding two million dollars.
99. (1) A statement made by a reporting entity in
response to a customer information order may not be used in
evidence against it in criminal proceedings.
(2) But subsection (1) shall not apply—
(a) on a prosecution for an offence of
perjury under section 99 of the
Evidence Act; or
(b) on a prosecution for some other
offence where, in giving evidence, the
reporting entity makes a statement
inconsistent with the statement
mentioned m subsection (1).
(3) A statement may not be used by virtue of
subsection (2) (b) against a reporting entity unless—
(a) evidence relating to it is adduced; or
(b) a question relating to it is asked
by or on behalf of the reporting entity in the proceedings
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Disclosure of
information.
Supplementary
for customer
information
order.

arising out of the prosecution.
100. A customer information order has effect in spite
of any restriction on the disclosure of information (however
imposed).
101. (1) An application for a customer information
order may be made ex parte to a Judge in Chambers.
(2) Rules of court may make provision as to the
practice and procedure to be followed in connection with
proceedings relating to customer information orders.
(3) An application to discharge or vary a customer
information order may be made to the Court by—
(a) the person who applied for the order;
(b) any person affected by the order.
(4) The Court—
(a) may discharge the order; or
(b) may vary the order.
(5) If a police officer or a customs officer applies
for a customer information order, an application to discharge
or vary the order need not be by the same constable or
customs officer.
(6) References to a person who applied for a
customer information order shall be construed accordingly.
(7) A police officer or a customs officer may not
make an application for a customer information order or an
application to vary such an order unless he is a senior
appropriate officer or he is authorised to do so by a senior
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Disclosure
order.
appropriate officer.
(8) A senior appropriate officer is a—
(a) a police officer who is not below the
rank of Superintendent; or
(b) a customs officer who is not below the
grade of Supervisor of the Revenue
Authority.
102. (1) A Judge may, on an application made to him
by the Director of Public Prosecutions, make a disclosure
order if he is satisfied that each of the requirements for the
making of the order is fulfilled.
(2) The application for a disclosure order shall state
that a person specified in the application is subject to a civil
forfeiture claim which is being carried out by the police or
customs officers and the order is sought for the purposes of
the investigation.
(3) A disclosure order is an order authorising the
Director of Public Prosecutions to give to any person the
Director of Public Prosecutions considers has relevant
information notice in writing requiring him to do, with
respect to any matter relevant to the investigation for the
purposes of which the order is sought, any or all of the
following—
(a) answer questions, either at a time
specified in the notice or at once, at a
place so specified;
(b) provide information specified in the
notice, by a time and in a manner so
specified;

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Requirements
for making of
disclosure order.

(c) produce documents, or documents of
a description, specified in the notice,
either at or by a time so specified or at
once, and in a manner so specified.
(4) Relevant information is information whether or
not contained in a document which the Director of Public
Prosecutions considers to be relevant to the investigation.
(5) A person is not bound to comply with a
requirement, imposed by a notice given under a disclosure
order unless evidence of authority to give the notice is
produced to him.
103. The requirements for the making of a disclosure
order shall be—
(a) reasonable grounds for suspecting
that a person specified in the
application for the order holds the
proceeds of crime;
(b) reasonable grounds for believing that
information which may be provided
in compliance with a requirement
imposed under the order is likely to
be of substantial value whether or not
by itself to the investigation for the
purposes of which the order is sought;
or
(c) reasonable grounds for believing that
it is in the public interest for the
information to be provided, having
regard to the benefit likely to accrue
to the investigation if the information
is obtained.

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Offences.

Statements.

c. 5:03
104. (1) A person commits an offence if without
reasonable excuse he fails to comply with a requirement
imposed on him under a disclosure order.
(2) A person guilty of an offence under subsection
(1) is liable on summary conviction to a fine not exceeding
one million dollars and imprisonment for a term not
exceeding six months.
(3) A person commits an offence if, in purported
compliance with a requirement imposed on him under a
disclosure order, he makes a statement which he knows to be
false or misleading in a material particular.
(4) A person guilty of an offence under subsection
(3) is liable—
(a) on summary conviction, to
imprisonment for a term not
exceeding six months and to a fine not
exceeding one million dollars ; or
(b) on conviction on indictment, to
imprisonment for a term not
exceeding two years and a fine not
exceeding to two million dollars .
105. (1) A statement made by a person in response to a
requirement imposed on him under a disclosure order may
not be used in evidence against him in criminal proceedings
that are not forfeiture proceedings.
(2) But subsection (1) shall not apply—
(a) on a prosecution for an offence of
perjury under section 99 of the
Evidence Act; or

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Further
provisions.
(b) on a prosecution for some other
offence where, in giving evidence, the
person makes a statement inconsistent
with the statement mentioned in
subsection (1).
(3) A statement may not be used by virtue of
subsection (1) unless—
(a) evidence relating to it is adduced; or
(b) a question relating to it is asked,
by that person or on his behalf in the proceedings arising out
of the prosecution.
106. (1) A disclosure order shall not confer the right to
require a person to answer any privileged question, provide
any privileged information or produce any privileged
document except that an attorney-at-law may be required to
provide the name and address of a client of his.
(2) A privileged question is a question which the
person would be entitled to refuse to answer on grounds of
legal professional privilege in proceedings in the High Court.
(3) Privileged information is any information
which the person would be entitled to refuse to provide on
grounds of legal professional privilege in proceedings in the
High Court.
(4) Privileged material is any material which the
person would be entitled to refuse to produce on grounds of
legal professional privilege in proceedings in the High Court.
(5) A disclosure order does not confer the right to
require a person to produce privileged material.

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Supplementary
for disclosure
order.
(6) A disclosure order has effect in spite of any
restriction on the disclosure of information (however
imposed).
(7) The Director of Public Prosecutions may take
copies of any documents produced in compliance with a
requirement to produce them which is imposed under a
disclosure order.
(8) Documents so produced may be retained for so
long as it is necessary to retain them (as opposed to a copy of
them) in connection with the investigation for the purposes
of which the order was made.
(9) But if the Director of Public Prosecutions has
reasonable grounds for believing that—
(a) the documents may need to be
produced for the purposes of any
legal proceedings; and
(b) they might otherwise be unavailable
for those purposes,
they may be retained until the proceedings are concluded.
107. (1) An application for a disclosure order may be
made ex parte to a Judge in Chambers.
(2) Rules of court may make provision as to the
practice and procedure to be followed in connection with
proceedings relating to disclosure orders.
(3) An application to discharge or vary a disclosure
order may be made to the Court by—
(a) the Director of Public Prosecutions;
(b) any person affected by the order.
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the Financing of Terrorism Cap. 10:11 143
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Money
laundering an
offence for
extradition
purposes.
Money paid into
Consolidated
fund.

Annual report
to Parliament.
(4) The Court—
(a) may discharge the order;
(b) may vary the order.
PART VIII
MISCELLANEOUS
108. Money laundering and terrorist financing are
offences for the purpose of any law relating to extradition or
the rendition of fugitive offenders.
109. All moneys derived from the fulfilment of
forfeiture or confiscation orders contemplated in this Act
shall be paid into the Consolidated Fund.
110. (1) As soon as practicable, but not later than six
months after the expiry of the financial year, the Director
shall submit to the Minister responsible for Finance a report
concerning the activities of the Financial Intelligence Unit
during that financial year.
(2) The report shall comprise information on the
financial affairs, operations and performance of the Financial
Intelligence Unit, including the amounts paid into the
Consolidated Fund under this Act.
(3) The report shall have appended to it, the
audited annual statements of accounts of the Financial
Intelligence Unit prepared pursuant to section 9 (8).
(4) The Minister responsible for Finance shall cause
a copy of the report together with the annual statement of
accounts and the Auditor General's report thereon to be laid
before the National Assembly within one month after he
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Secrecy
obligations
overridden.
Disclosure
protected.

Prosecution of
offences.

Subsidiary
legislation.
s. 2
receives it.
111. Subject to the provisions of the Constitution, the
provisions of this Act shall have effect notwithstanding any
obligation as to secrecy or other restriction upon the
disclosure of information imposed by any law or otherwise.
112. It shall not be unlawful for any person to make
any disclosure in compliance with this act.
113. No prosecution in respect of any offence
committed under this Act or the regulations made hereunder
shall be instituted except by, or with the consent in writing of
the Director of Public Prosecutions.
114. (1) The Minister may make regulations for the
better carrying out of the provisions of this Act and, subject
to subsection (2) for prescribing anything that needs to be
prescribed.
(2) The Minister may by order amend the
Schedules.
(3) Any regulations made under subsection (1) or
an order made under subsection (2) shall be subject to
negative resolution of the National Assembly.
FIRST SCHEDULE
“Financial Institution” means any company or business that
engages in any of the following activities—
(a) acceptance of deposits and other
repayable funds from the public,
including, but not limited to, private
banking;

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(b) lending, including, but not limited to,
consumer credit, mortgage credit,
factoring (with or without recourse),
and financing of commercial
transactions, including forfeiting;
(c) financial leasing other than with
respect to arrangements relating to
consumer products;
(d) the transfer of money or value;
(e) issuing and managing means of
payment, including, but not limited
to, credit cards, travellers' cheques,
money orders and bankers' drafts,
and electronic money;
(f) issuing financial guarantees and
commitments;
(g) trading in—
(i) money market instruments,
including, but not limited to,
cheques, bills, certificates of
deposit and derivatives;
(ii) foreign exchange;
(iii) exchange, interest rate and
index instruments;
(iv) transferable securities; and
(v) commodity futures trading;
(h) participating in and underwriting
securities issues and the provision of
financial services related to such
issues;

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(i) individual and collective portfolio
management;
(j) safekeeping and administration, of
cash or liquid securities on behalf of
other persons;
(k) investing, administering or managing
funds or money on behalf of other
persons;
(1) underwriting and placement of life
insurance and other investment-
related insurance, as well as insurance
intermediation by agents and brokers;
(m) money and currency changing; and
(n) such other activity, business or
operation as may be prescribed by the
Minister responsible for Finance.
“Designated Non-financial Business or Profession” means
any of the following—
(a) casinos, betting shops or lotteries,
including a person who carries on
such a business through the internet,
when their customers engage in
financial transactions equal to or
above five hundred thousand dollars
or such lower amount as may be
prescribed by the Minister responsible
for Finance;
(b) real estate agents, when they are
involved in transactions for their
clients relating to the buying and
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selling of real estate and real estate
brokers;
(c) dealers in precious metals and dealers
in precious and semi-precious stones,
including, but not limited to those
covered when they engage in any
cash transaction with a customer
equal to or above two million dollars
or such lower amount as may be
prescribed by the Minister responsible
for Finance;
(d) attorneys-at-law, notaries, other
independent legal professionals and
accountants when they prepare for or
carry out transactions for their client
relating to the following activities—
(i) buying and selling of real
estate;
(ii) managing of client money,
securities or other assets;
(iii) management of bank, savings
or securities accounts;
(iv) organisation of contributions
for the creation, operation or
management of companies; or
(v) creation, operation or
management of legal persons or
arrangements, and buying and
selling of business entities;
(e) a trust or company service provider
not otherwise covered by this
definition, which as a business,
provides any of the following services
to third parties—
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s. 2
(i) formation or management of
legal persons;
(ii) acting as (or arranging for
another person to act as) a
director or secretary of a
company, a partner of a
partnership, or a similar
position in relation to other
legal persons;
(iii) providing a registered office;
business address or
accommodation, correspond-
dence or administrative
address for a company, a
partnership or any other legal
person or arrangement;
(iv) acting as (or arranging for
another person to act as) a
trustee of an express trust; or
(v) acting as (or arranging for
another person to act as) a
nominee shareholder for
another person; and
(f) such other business or profession as
may be prescribed by the Minister
responsible for Finance.
Activities and businesses subject to the Act
Acceptance of deposits and other repayable funds from
the public.
Lending, including consumer credit, mortgage credit,
factoring (with or without recourse) and financing of
commercial transactions.
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Financial leasing.
Money transfer agencies or services, including money
exchanges.
Cambios.
Pawn-broking.
Issuing and administering means of payment (such as
credit cards, traveller’s cheques and bankers’ drafts).
Guarantee and commitments.
Trading for own account or for account of customers in
money market instruments (such as cheques, bills, certificates
of deposit), foreign exchange, financial futures and options,
exchange and interest rate instruments, and transferable
securities.
Credit unions.
Underwriting share issues and participation in such
issues.
Advice to undertakings on capital structure, industrial
strategy and related questions, and advice and services
relating to mergers and the purchase of undertakings.
Money-broking.
Portfolio management and advice.
Safekeeping and administration of securities.
Safe custody services.

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Betting shops.
Casinos.
Internet casinos
Lotteries.
Exporters and importers of valuable items.
Used car dealers or car parts dealers.
Buying or selling of gold bullion.
Insurance business
Venture risk Capital
Unit trusts
A trust or company service provider not otherwise
covered by this definition, which as a business, provide any
of the following services to third parties as covered under the
law relating to Trusts under the Civil Law of Guyana Act—
(i) acting as a formation agent of legal
persons;
(ii) acting as (or arranging for another
person to act as) a director or
secretary of a company, a partner of a
partnership, or a similar position in
relation to other legal persons;
(iii) providing a registered office; business
address or accommodation,
correspondence or administrative
address for a company, a partnership
or any other legal person or
arrangement;
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the Financing of Terrorism Cap. 10:11 151
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(iv) acting as (or arranging for another
person to act as) a trustee of an
express trust;
(v) acting as (or arranging for another
person to act as) a nominee
shareholder for another person.
Attorneys-at-law, notaries, other independent legal
professionals and accountants when they prepare for or carry
out transactions for their clients concerning the following
activities—
(i) buying and selling of real estate;
(ii) managing of client money, securities
or other assets
(iii) management of bank, savings or
securities accounts;
(iv) organisation of contributions for the
creation, operation or management of
companies;
(v) creation, operation or management of
legal persons or arrangements, and
buying and selling of business
entities.
Dealing in real estate when the persons dealing are
involved in transactions for their client concerning the
buying and selling of real estate.
Dealing in precious metals or stones - when the persons
dealing engages in any cash transaction with a customer
equal to or above a threshold as may be prescribed by order
of the Minister responsible for Finance.
Registered Charities.
Cooperatives.

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s. 2
s. 36
SECOND SCHEDULE
SERIOUS OFFENCES
Participation in an organised criminal group and
racketeering;
Terrorism, including terrorist financing;
Trafficking in human beings and migrant smuggling;
Sexual exploitation, including sexual exploitation of children;
Illicit trafficking in narcotic drugs and psychotropic
substances;
Illicit arms and ammunition trafficking;
Corruption and bribery;
Fraud;
Counterfeiting currency;
Counterfeiting and piracy of products;
Environmental crime;
Murder, grievous bodily harm;
Kidnapping, illegal restraint and hostage-taking;
Robbery or theft;
Smuggling;
Extortion;
Forgery;
Piracy; and
Insider trading and market manipulation.
THIRD SCHEDULE
GUYANA
DECLARATION OF INTERNATIONAL
TRANSPORTATION OF CURRENCY
Declaration to be made by a traveller under section 36 of
the Anti-Money Laundering and Countering the Financing of
Terrorism Act, Cap. 10:11.

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NAME: (first, middle, last) ………………………………………
DATE OF BIRTH ……………… PASSPORT NUMBER.
.....................
COUNTRY OF ISSUE……………………………..
ADDRESS IN GUYANA. …………………………………….......
I hereby declare that I am taking* out of Guyana/bringing*
into Guyana foreign currency amounting to more than ten
thousand United States dollars or its equivalent in any other
currency.
AMOUNT DECLARED.……………………………………
SOURCE OF FUNDS.…………………………………
INTENDED USE OF FUNDS. Personal …... Business ……
Explain intended use of funds.…………………………..............
........................................................
Signature of traveller.
[*Make appropriate deletion.]
………………………………………………………………………
OFFICIAL USE
Reviewed by: Name and rank: ……………………...........
Signature: ………………………….
Original: Guyana Revenue Authority
Copy: Financial Intelligence Unit

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s. 2
FOURTH SCHEDULE
Reporting Entity that carries on the
following activity or business
Supervisory
Authority
Acceptance of deposits and other
repayable funds from the public.
Governor of the Bank
of Guyana
Lending, including consumer credit,
mortgage credit, factoring (with or
without recourse) and financing of
commercial transactions.
Governor of the Bank
of Guyana
Financial leasing. Supervisory
Authority appointed
by the Minister
responsible for
Finance
Money transfer agencies. Supervisory
Authority appointed
by the Minister
responsible for
Finance
Dealers in foreign currency, money
exchangers e.g. cambios.
Governor of the Bank
of Guyana
Pawn brokers. Supervisory
Authority appointed
by the Minister
responsible for
Finance
Issuing and administering means of
payment (such as credit cards,
travellers’ cheques and bankers’ drafts).
Governor of the Bank
of Guyana
Guarantees and commitments. Governor of the Bank
of Guyana
Trading for own account or for account
of customers in money market
instruments (such as cheques, bills,
certificates of deposit), foreign
Guyana Securities
Council

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Reporting Entity that carries on the
following activity or business
Supervisory
Authority
exchange, financial futures and options,
exchange and interest rate instruments,
and transferable securities.
Underwriting share issues and
participation in such issue.
Guyana Securities
Council
Advice to undertakings on capital
structure, industrial strategy and related
questions, and advice and services
relating to mergers and the purchase of
undertakings.
Guyana Securities
Council
Money-broking.
Guyana Securities
Council
Credit union. Supervisory
Authority appointed
by the Minister
responsible for
Finance
Portfolio management and advice. Guyana Securities
Council
Safekeeping and administration of
securities.
Guyana Securities
Council
Casinos, betting shops and lotteries. Supervisory
Authority appointed
by the Minister
responsible for
Finance
Buying or selling of gold bullion. Supervisory
Authority appointed
by the Minister
responsible for
Finance
Insurance business, domestic and
international.
Commissioner of
Insurance
Venture risk capital. Guyana Securities
Council
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Reporting Entity that carries on the
following activity or business
Supervisory
Authority
Unit trusts. Guyana Securities
Council
A trust or company service provider
which as a business, provide any of the
following services to third parties as
covered under the Civil Law of Guyana
Act, Cap 6:01:
(i) acting as a formation, registration or
management agent of legal persons,
acting as, or arranging for another
person to act as, as a director or
secretary of a company, a partner of a
partnership, or a similar position in
relation to other legal persons;
(ii) providing a registered office;
business address or accommodation,
correspondence or administrative
address for a company, a partnership or
any other legal person or arrangement;
(iii) acting as, or arranging for another
person to act as, a trustee of an express
trust;
(iv) acting as, or arranging for another
person to act as, a nominee shareholder
for another person.
Supervisory
Authority appointed
by the Minister
responsible for
Finance
Attorneys-at-law, notaries, other
independent legal professionals and
accountants when they prepare for or
carry out transactions for their client
concerning the following activities:
(i) buying and selling of real estate,

Supervisory
Authority appointed
by the Minister
responsible for
Finance

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Reporting Entity that carries on the
following activity or business
(ii) managing of client money, securities
or other assets,
(iii) management of bank, savings or
securities accounts,
(iv) organisation of contributions for the
creation, operation or management of
companies, or
(v) creation, operation or management
of legal persons or arrangements, and
buying and selling of business entities.
Supervisory
Authority
Dealing in real estate when the persons
dealing are involved in transactions for
their client concerning the buying and
selling of real estate.
Supervisory
Authority appointed
by the Minister
responsible for
Finance
Dealing in precious metals stones—
when the persons dealing engage in any
cash transaction with a customer equal
to or above the applicable designated
threshold.
Supervisory
Authority appointed
by the Minister
responsible for
Finance
Registered Charities. Supervisory
Authority appointed
by the Minister
responsible for
Finance
Cooperatives. Supervisory
Authority appointed
by the Minister
responsible for
Finance

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SUBSIDIARY LEGISLATION
_________________
O. 5/2010 ANTI-MONEY LAUNDERING AND
COUNTERING THE FINANCING OF
TERRORISM (EXTENSION OF TIME FOR
VERIFICATION OF IDENTITY) ORDER
made under section 15(10)
Citation. 1. This Order may be cited as the cited as the Anti-
Money Laundering and Countering the Financing of
Terrorism (Extension of Time for Verification of Identity)
Order.
Extension of
time for
verification of
identity.
O. 18/2010
Citation.
2. I extend the period of six months prescribed by
section 15(10)(a) of the Act for a further period of three
months in which a reporting entity shall verify the identity of
a customer.
________________
ANTI-MONEY LAUNDERING AND
COUNTERING THE FINANCING OF
TERRORISM (EXTENSION OF TIME FOR
VERIFICATION OF IDENTITY)
(NO.2) ORDER
made under section 15(10)(c)
1. This Order may be cited as the Anti-Money
Laundering and Countering the Financing of Terrorism
(Extension of Time for Verification of Identity (No.2) Order
2010.
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O. 66/2010
Citation.

Extension of
time for
verification of
entity.

2. I extend the period prescribed by section 15 (10)(c)
of the Act for a period of one hundred and forty-five days in
which a reporting entity shall verify the identity of a
customer.
_________________
ANTI-MONEY LAUNDERING AND
COUNTERING THE FINANCING OF
TERRORISM ACT (EXTENSION OF TIME FOR
VERIFICATION OF IDENTITY)
(No.3) ORDER
made under section 15 (10) (c)
1. This Order may be cited as the Anti-Money
Laundering and Countering the Financing of Terrorism Act
(Extension of Time for Verification of Identity) (No.3) Order
2010.
2. I extend the period prescribed by section 15 (10) (c)
of the Act for a period of six months in which a reporting
entity shall verify the identity of a customer.
____________________

Terrorism Regulations
Anti-Money Laundering and Countering the Financing of
17. Training for senior and specialist staff.
16. Staff training.
15. Due diligence audit.
14. Duty to appoint Compliance Officer.
entity.
13. Supervisory authority to supervise each reporting
reporting entities.
12. Reporting of suspicious business transactions by
reporting suspicious transactions.
11. Establishment of procedures for recognising and
terrorist financing enquires.
10. Maintaining a register of money laundering and
9. Format and retrieval of records.
8. Limitation period for retention of records.
7. Maintaining a record of transactions.
6. Maintaining a record of verification of identity.
persons.
5. Identification procedures in relation to introduced
continuing business relationships.
4. Identification procedures in relation to new and
3. General requirements.
2. Interpretation.
1. Citation.
REGULATIONS
ARRANGEMENT OF REGULATIONS
made under section 114
TERRORISM REGULATIONS
COUNTERING THE FINANCING OF
ANTI-MONEY LAUNDERING AND
Reg. 4/2010
L.R.O. 1/2012
[Subsidiary]
the Financing of Terrorism
Anti-Money Laundering and Countering Cap. 10:11 160
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REGULATION
18. Requirement for refresher training.
19. Offences.
20. Directives.
21. Guidelines.
_____________
ANTI-MONEY LAUNDERING AND COUNTERING THE
FINANCING OF TERRORISM REGULATIONS.
Citation. 1. These Regulations may be cited as the Anti-Money
Laundering and Countering the Financing of Terrorism
Regulations.
Interpretation.

c. 10:11.
2. (1) In these Regulations, unless the context
otherwise requires—
“Act” means the Anti-Money Laundering and Countering the
Financing of Terrorism Act;
“applicant for business” means a person seeking to form a
business relationship or to carry out a one-off transaction
with reporting entity which is carrying on a relevant
business in or out of Guyana;
“business relationship” means any arrangement between any
person and a reporting entity, the purpose of which is to
facilitate the carrying out of financial and other related
transactions on a regular basis;
“CFATF” means the Caribbean Financial Action Task Force
on money laundering;
“Compliance Officer” means a senior officer appointed under
Reg. 4/ 2010
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section 19 of the Act;
“Director” means Director of the Financial Intelligence Unit
appointed pursuant to section 8 of the Act;
“FATF” means the Financial Action Task Force on money
laundering;
“FSRB” means a FATF Styled Regional Body;
“Financial Intelligence Unit” means the Financial Intelligence
Unit established by section 9 of the Act;
“Guidelines” means the Guidelines issued under regulation
21;
“one-off transaction” means a transaction other than a
transaction carried out in the course of an established
business relationship formed by a reporting entity;
“relevant business” means engaging by way of the business
in one or more of the business or transactions referred to
in relation to a reporting entity;
“reporting entity” means a reporting entity carrying on a
regulated business activity as defined under the Act;
(2) For the purposes of these Regulations—
(a) a business relationship formed by any
reporting entity is an established
business relationship where that
reporting entity has obtained, under
procedures maintained in accordance
with these Regulations, satisfactory
evidence of the identity of a person
who, in relation to the formation of
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General
requirements.
the business relationship, was the
applicant for business;
(b) the question as to what constitutes
satisfactory evidence of identity shall
be determined by the Financial
Intelligence Unit and includes—
(i) the production of an official or
identifying document, one of
which shall be a national
identification card or passport;
(ii) a reliable or independent source
document such as a driver’s
licence or a birth certificate; and
(iii) proof of address; or
(iv) a business relationship
developed over a period of
time whereby the person with
overall responsibility for the
reporting entity is satisfied with
the true identity of the person.
(c) key staff is a member of staff, who at
any time in the course of the
member’s duties, has or may have,
access to any information which may
be relevant in determining and
reporting suspicious transactions.

3. (1) In conducting relevant business, a reporting
entity shall not form a business relationship or carry out a
one-off transaction with or for another person unless the
reporting entity—

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(a) maintains—
(i) identification procedures in
accordance with regulations 4
and 5;
(ii) record keeping procedures in
accordance with regulations 6
to 10;
(iii) internal reporting procedures
in accordance with regulation
11; and
(iv) internal controls and
communication procedures
which are appropriate for the
purposes of forestalling and
preventing money laundering
or terrorist financing;
(b) takes appropriate measures from time
to time for the purpose of making
employees aware of—
(i) the identification procedures,
record keeping procedures,
internal reporting procedures
and internal controls and
communication procedures
maintained under paragraph
(a); and
(ii) the provisions of the Act, any
regulations made under it and
any directives or Guidelines
issued under these Regulations;
and

(c) provides training for employees to
assist them—
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Identification
procedures in
relation to new
and continuing
relationship.
(i) in the recognition and handling
of transactions carried out by,
or on behalf of any person who
is, or appears to be, engaged in
money laundering or terrorist
financing;
(ii) in dealing with customers
where such transactions have
been reported to the Financial
Intelligence Unit in accordance
with the provisions of the Act.
(2) For the avoidance of doubt, it is declared that
the requirements of paragraph 1(a) shall apply in relation to a
person with whom, prior to the coming into force of these
Regulations, a business relationship or one-off transaction
was formed or carried out and such relationship or
transaction is subsisting or continues upon the coming into
force of these Regulations and in such a case the reference in
regulations 4 and 5 as to the period when contact is first made
shall be construed as if contact was made upon the coming
into force of these Regulations.
(3) A reporting entity shall submit for the approval
of the Financial Intelligence Unit the identification
procedures, record keeping procedures, internal reporting
procedures and internal controls and communication
procedures required to be maintained under paragraph 1(a)
and the Financial Intelligence Unit may keep, for its own use,
copies of such documents.

4. (1) A reporting entity shall ensure that is knows the
true identity of its customers.

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(2) Customers shall include persons, whether
natural, legal or legal arrangement, who are or who seek to
be—
(a) in a business relationship with the
reporting entity;
(b) engaged in one or more occasional
transactions with the reporting entity
when the total value of the
transactions equals or exceeds one
million dollars;
(c) engaged in carrying out wire transfers
with the reporting entity as set out in
sections 20 of the Act; and
(d) engaged in any activity with the
reporting entity in any instance where
there is a suspicion by any employee,
director, officer or agent of the
reporting entity that the transaction
may be linked to money laundering
or terrorist financing.
(3) In order to ensure proper customer
identification, the reporting entity shall identify and verify the
identity of the customer when—
(a) establishing a business relationship;
(b) carrying out a threshold occasional
transaction referred to in paragraph
(2) (b);
(c) carrying out a wire transfer; or
(d) doubts have arisen as to the veracity
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or adequacy of previously obtained
identification information on the
person.
(4) For customers who are natural persons, the
reporting entity shall verify the identity required using
identification records or other reliable, independent source
documents, data, or information; as may be defined by the
Financial Intelligence Unit.
(5) For customers who are legal persons or legal
arrangements, the reporting entity shall obtain and verify—
(a) the customer’s name and legal form,
including obtaining proof of
incorporation or similar evidence of
establishment or existence such as a
certificate of incorporation or a trust
instrument;
(b) the names and addresses of members
of the customer’s controlling body
such as for companies the directors,
for trusts the trustees and for limited
partnerships the general partners and
senior management such as the chief
executive officer;
(c) the legal provisions that set out the
power to bind the customer such as
the memorandum and articles of
association or trust instrument;
(d) the legal provisions that authorise
person to act on behalf of the
customer such as a resolution of the
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Identification
procedures in
relation to
introduced
persons.

board of directors or statement of
trustees on opening an account and
conferring authority on those who
may operate the account; and
(e) the identity of the physical person
purporting to act on behalf of the
customer, using source documents as
provided for in these Regulations.
5. (1) A reporting entity may rely on certain third
party intermediaries or other reporting entities to perform the
customer identification requirements of these Regulations as
provided for in this regulation.
(2) A reporting entity may rely on foreign financial
institutions where the applicant maintains an account to
perform customer identification requirements if the reporting
entity is satisfied that the third party intermediary is
adequately regulated and supervised and has measures in
place to comply with the customer identification
requirements of these Regulations.
(3) In making this determination in paragraph (2),
a reporting entity shall take into account the information
available on application and adequacy of implementation of
the FATF 40+9 recommendations to entities in individual
countries, including by examining reports and reviews
published by the FATF or any FSRB.
(4) In each instance or reliance on intermediaries,
the reporting entity shall immediately obtain from the third
party customer identification information required in these
Regulations and while it is not necessary to obtain copies of
related documents, a reporting entity shall take adequate
steps to satisfy itself that copies of identification data and
other relevant documentation relating to the information shall
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Maintaining a
record of
verification of
identity.



Maintaining a
record of
transactions.

Limitation
period for
retention of
records.

be mad available without delay.
6. Where a reporting entity is required under these
Regulations to verify the identity of a person, it shall establish
and maintain a record which—
(a) indicates the nature of the evidence
obtained; and
(b) comprises a copy of the evidence or,
where this is not reasonably
practicable, contains such information
as would enable a copy of the
evidence to be obtained.
7. Where a reporting entity is required under these
Regulations to verify the identity of a person, it shall maintain
a record of all transactions carried out by or on behalf of that
person such as records sufficient to identify the source and
recipient of payments from which investigating authorities
will be able to compile an audit trail for suspected money
laundering or terrorist financing.
8. (1) A reporting entity shall maintain the records
required by regulations 6 and 7 for at least seven years from
the date—
(a) when all activities relating to one-off
transactions or a series of linked
transactions were completed;
(b) when the business relationship was
formally ended; or
(c) where the business relationship was
not formally ended, when the last
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Format and
retrieval of
records.



Maintaining a
register of
money
laundering and
terrorist
financing
enquires.

Establishment
of procedure
transaction was carried out.
(2) Where a report has been made to the Financial
Intelligence Unit in pursuance of regulation 11(1)(f), or the
reporting entity knows or believes that a matter is under
investigation, that person shall without prejudice to
paragraph (1), retain all relevant records for as long as may
required by the Financial Intelligence Unit.
(3) For the purposes of this regulation, the question as
to what records may be relevant in the investigation process
may be determined by the Financial Intelligence Unit.

9. (1) A reporting entity shall ensure that any records
required to be maintained under these Regulations are
capable of retrieval in legible form without undue delay.
(2) A reporting entity may rely on the records of a
third party in respect of the details of payments and
transactions by customers, provided that it is satisfied that the
third party is willing and able to retain and, if asked, to
produce in legible form, copies of the records required.
10. (1) A reporting entity shall maintain a register of
all enquires made to it by the Financial Intelligence Unit and
other law enforcement authorities acting under powers
provided by the Act or any other law relating to money
laundering, terrorist financing and proceeds of crime.
(2) The register maintained under paragraph (1)
shall be kept separate from other records and shall contain as
a minimum, the date and nature of the enquiry, the name and
agency of the inquiring officer, the powers being exercised,
and details of the accounts or transaction involved.
11. (1) A reporting entity shall establish written
internal reporting procedures which, in relation to its relevant
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for recognising
and reporting
suspicious
transactions.
business, will—
(a) enable all its directors or, as the case
may be, partners, all other persons
involved in its management, and all
key staff to know to whom they
should report any knowledge or
suspicion of money laundering,
proceeds of crime or terrorist
financing activity;
(b) ensure that there is a clear reporting
chain under which suspicions of
money laundering, proceeds of crime
or terrorist financing activity will be
reported to the Compliance Officer;
(c) identify a Compliance Officer to
whom a report is to be made of any
information or other matter which
comes to the attention of the person
handling that business and which in
that person’s opinion gives rise to
knowledge or suspicion that another
person is engaged in money
laundering, proceeds of crime or
terrorist financing;
(d) require the Compliance Officer to
consider any report in the light of all
other relevant information available
to that Compliance Officer for the
purpose of determining whether or
not it gives rise to knowledge or
suspicion of money laundering,
proceeds crime or terrorist financing;
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Reporting of
suspicious
business
transactions by
reporting
entity.

(e) ensure that the Compliance Officer
has reasonable access to any other
information which may be of
assistance to that Compliance Officer
and which is available to the
reporting entity; and
(f) require that the information or other
matter contained in a report is
disclosed promptly to the Financial
Intelligence Unit where the
Compliance Officer knows or suspects
that another person is engaged in any
complex, unusual or large business
transaction, whether completed or
not, and to all unusual patterns of
transactions and to insignificant but
periodic transactions, which have no
apparent economic or lawful purpose.
(2) A reporting entity shall maintain a register of
all reports made to the Compliance Officer in pursuance of
paragraph (1) (f).
(3) The register maintained under paragraph (2)
shall contain details of the date on which the report is made,
the person who makes the report and information sufficient
to identify the relevant documents.
12. (1) A reporting entity shall pay special attention to
all complex, unusual or large business transactions, whether
completed or not, and to all unusual patterns of transactions
and to insignificant but periodic transactions, which have no
apparent economic or lawful purpose.

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Supervisory
authority to
supervise each
reporting
entity.

Duty to appoint
Compliance
Officer.

(2) Upon reasonable suspicion that the transaction
described in paragraph (1) may constitute or relate to money
laundering, proceeds of crime or terrorist financing, a
reporting entity shall promptly report the suspicious
transaction to the Financial Intelligence Unit.
(3) Without prejudice to the generality of the
foregoing provisions, a reporting entity shall report to the
Financial Intelligence Unit as soon as practicable—
(a) where the reporting entity is a money
transfer agency, any money transfer
over two hundred thousand dollars;
(b) where the reporting entity is a
cambio, a purchase over four hundred
thousand dollars and a sale over one
million dollars; and
(c) any cash transaction over two million
dollars.
13. A supervisory authority shall examine, supervise,
regulate and issue Guidelines to each reporting entity for
compliance with the obligations set out in sections 15, 16, 18,
19 and 20 of the Act and the applicable provisions of these
Regulations.
14. (1) A reporting entity shall appoint a Compliance
Officer at the management level with appropriate and
adequate authority and responsibility to implement these
Regulations.
(2) The Compliance Officer shall—
(a) be a senior officer with relevant
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qualifications and experience to
enable him to respond sufficiently
well to enquires relating to the
reporting entity and the conduct of its
business;
(b) be responsible for establishing and
maintaining a manual of compliance
procedures in relation to the business
of the reporting entity;
(c) be responsible for ensuring
compliance by staff of the reporting
entity with—
(i) the provisions of these
Regulations and any other laws
relating to money laundering or
terrorist financing;
(ii) the provisions of any manual of
compliance procedures
established under paragraph
(b); and
(iii) the internal reporting
procedures established under
regulations 11;
(d) act as the liaison between the
reporting entity and the Financial
Intelligence Unit in matters relating to
compliance with the provisions of
these Regulations and any other law,
directives or guideline with respect to
money laundering or terrorist
financing; and
(e) prepare and submit to the Financial
Intelligence Unit written reports on
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Due diligence
audit.


Staff training.

the reporting entity’s compliance with
the provisions of these Regulations
and any other law, directive or
guideline relating to money
laundering or terrorist financing and
the reports shall be prepared in such
form and submitted at such times as
the Financial Intelligence Unit may
determine.
(3) The Compliance Officer shall have the
authority to act independently and to report to senior
management above the Compliance Officer’s next reporting
level and the board of directors or equivalent body.
15. Without prejudice to regulation 14 or any law
relating to the conduct of inspections to verify compliance,
the Financial Intelligence Unit may conduct an inspection of
any reporting entity to determine compliance by that
reporting entity with the requirements of these Regulations
and any other law, directive or guideline relating to money
laundering or terrorist financing.
16. (1) A reporting entity shall provide education and
training for all directors or, as the case may be, partners, all
other persons involved in its management and all key staff to
ensure that they are aware of—
(a) the provision of the Act and any
regulations made under it;
(b) their personal obligations under those
enactments;
(c) the manual of compliance procedures
established under regulation 14(2)(b)
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Training for
senior and
specialist staff.

Requirement
for refresher
training.

Offences.

and the internal reporting procedures
established under regulation 11;
(d) the procedure maintained by the
reporting entity in compliance with
the duties imposed under these
Regulations, and their personal
liability, for failure to report
information or suspicions in
accordance with internal procedures.
(2) A reporting entity shall, in addition, provide
training in accordance with the requirements of this
regulation to all new key staff as soon as practicable after
their appointment.
17. A reporting entity shall also provide education
and training appropriate to particular categories of staff in—
(a) its policies and procedures to prevent
money laundering or terrorist
financing;
(b) its customer identification, record-
keeping and other procedures; and
(c) the recognition and handling of
suspicious transactions.
18. A reporting entity shall, at least once in every year,
make arrangements for refresher training to remind key staff
of their responsibilities and to make them aware of any
changes in the laws relating to money laundering or terrorist
financing and the internal procedures of the reporting entity.
19. (1) A person who fails to comply with
requirements of these Regulations, and directive issued under
regulation 20 or Guidelines issued under regulation 21
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commits a summary offence.
(2) In determining whether a person has complied
with the requirements of these Regulations, any directive
issued under regulation 20 or Guidelines issued under
regulation 21, a court may take account—
(a) of any provision in the Guidelines
which may apply to that person;
(b) in a case where paragraph (a) does
not apply, any other relevant
guidance issued by a body that
regulates, or is representative of, any
trade, business, profession or
employment carried on by that
person.
(3) In proceedings against a person for an offence
under these Regulations, it shall be a defence for the person to
prove that the person took, all reasonable steps and exercised
due diligence to comply with the requirements of these
Regulations, any directive issued under regulation 20 or
Guidelines issued under regulation 21 in respect of which the
person is charged.
(4) Where an offence under these Regulations has
been committed by a body corporate the directors as well as
the corporate body shall be guilty of that offence and liable to
be proceeded against and punished accordingly.
(5) Where the affairs of a body corporate are
managed by its members paragraph (3) applies in relation to
the acts and defaults of a member in connection with the
member’s functions of management as if the member were a
director of the body corporate.
LAWS OF GUYANA
178 Cap. 10:11 Anti-Money Laundering and Countering
the Financing of Terrorism
[Subsidiary] Anti-Money Laundering and Countering the Financing of
Terrorism Regulations
L.R.O. 1/2012

Directives.

Guidelines.
(6) Where an offence under these Regulations
committed by a partnership, or by an unincorporated
association other than a partnership, is proved to have been
committed with the consent or connivance of, or is
attributable to the failure to exercise due diligence by, a
partner in the partnership or, as the case may be, a person
concerned in the management or control of the association the
person, as well as the partnership or association, shall be
guilty of that offence and liable to be proceeded against and
punished accordingly.
20. The Minister may, for the purposes of these
Regulations, issue directives as he considers necessary and
the directives, when issued, shall be published in the Gazette
and at least one daily newspaper circulating in Guyana or in
electronic form on an official website.
21. In the preparation of procedure required to be
maintained in accordance with the provisions of these
Regulations, a reporting entity may adopt or have regard to
the provisions of the Guidelines issued from time to time by a
supervisory authority and published in the Gazette and at
least one daily newspaper circulating in Guyana or in
electronic form on an official website.
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