Public Compliance Communications 34
PCC 36 - Guidance on the voluntary disclosure programme
The SVDP will be open for applications from 01 October 2016 until 30 June 2017, when it will terminate. (page 3)
This public compliance communication cross-references 5 linked laws.
Relationships in
No relationships recorded.
Relationships out
No relationships recorded.
Linked legislation
Cross-references
Low confidenceFinancial Intelligence Centre Act 38 of 2001 2
"The Financial Intelligence Centre is established in terms of section 2 of the Financial Intelligence Centre Act, Act 38 of 2001"
Cross-references
Low confidenceFinancial Intelligence Centre Act 38 of 2001 21
"2.1 Accountable institutions are subject to the obligations under section 21 of the FIC Act to establish and verify the identities of their clients when engaging in single transactions or entering into business relationships with such clients."
Document
FIC
Financial Intelligence Centre
PUBLIC COMPLIANCE COMMUNICATION
PUBLIC COMPLIANCE COMMUNICATION No 36 (PCC 36)
OBLIGATIONS ARISING FROM THE FINANCIAL INTELLIGENCE CENTRE ACT (ACT NO. 38 OF 2001), PERTAINING TO THE 2016 SPECIAL VOLUNTARY DISCLOSURE PROGRAMME
The Financial Intelligence Centre is established in terms of section 2 of the Financial Intelligence Centre Act, Act 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, 2001 (Act No. 38 of 2001, 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. Guidance provided by the Centre is authoritative in nature. An accountable institution must comply with guidance issued by the Centre, or explain the reasons for non-compliance if prompted by the Centre or supervisory body. It is important to note that enforcement action may emanate as a result of non-compliance with the FIC Act where it is found that there has been non-compliance with the guidance issued by the Centre.