Public Compliance Communications 14
PCC 40 - Licensing conditions
Guidance provided by the Centre is the only form of guidance formally recognised in terms of the FIC Act and the Regulations issued under the FIC Act. (page 2)
This public compliance communication cross-references 4 linked laws.
Relationships in
No relationships recorded.
Relationships out
No relationships recorded.
Linked legislation
Cross-references
Low confidenceFinancial Intelligence Centre Act 38 of 2001 45
"2.1 Section 45(1B)(e)(i) and (ii) of the FIC Act provides that a supervisory body, in meeting its responsibility referred to in section 45(1) of the FIC Act may issue or amend any licence, registration, approval or authorisation that the supervisory body may issue or grant in accordance with any Act, to include that an accountable institution;"
Cross-references
Low confidenceFinancial Intelligence Centre Act 38 of 2001 45B
"In this regard, supervisory bodies may conduct inspections to determine the level of compliance by accountable institutions with the FIC Act or any order, determination or directive made in terms of the FIC Act (Section 45B(1) of the FIC Act)."
Document
FIC
Financial Intelligence Centre
PUBLIC COMPLIANCE COMMUNICATION
PUBLIC COMPLIANCE COMMUNICATION No. 40 (PCC40) OF LICENSING, REGISTRATION, APPROVAL OR AUTHORISATION CONDITIONS ISSUED BY SUPERVISORY BODIES TO ACCOUNTABLE INSTITUTIONS, IN TERMS OF SECTION 45 AND 45(1B)(e) OF THE FINANCIAL INTELLIGENCE CENTRE ACT (ACT NO. 38 OF 2001)
The Financial Intelligence Centre (the Centre) provides the guidance contained in this Public Compliance Communication (PCC) in terms of its statutory function in terms of section 4(c) of the Financial Intelligence Centre Act, Act No. 38 of 2001, as amended (the FIC Act) read together with Regulation 28 of the Money Laundering and Terrorist Financing Control Regulations (the Regulations) issued in terms of the FIC Act.
Section 4(c) of the FIC Act empowers the Centre to provide guidance in relation to a number of matters concerning compliance with the obligations of the FIC Act. Guidance provided by the Centre is the only form of guidance formally recognised in terms of the FIC Act and the Regulations issued under the FIC Act. Accordingly, guidance provided by the Centre is authoritative in nature.