Taxonomies
- Subject areas > Business, Trade and Industry
- Subject areas > Energy and Natural Resources
- Subject areas > Environment, Climate and Wildlife
- Subject areas > Finance and Money
Related documents
South Africa
Financial Intelligence Centre Act, 2001
Money Laundering Control Regulations, 2002
Government Notice R1595 of 2002
- Published in Government Gazette 24176 on 20 December 2002
- There are multiple commencements
- [This is the version of this document from 1 February 2023.]
Provisions | Status |
---|---|
Chapter 4 (section 22–24); Chapter 6, section 29(7), 29(9), section 30 |
commenced on 3 February 2003.
Note: See section 30(2) |
Section 1; Chapter 1 (section 2–19); Chapter 2 (section 20); Chapter 3 (section 21); Chapter 5 (section 25–27); Chapter 6, section 28, section 29(1), 29(2), 29(3), 29(4), 29(5), 29(6), 29(8) |
commenced on 30 June 2003.
Note: See section 30(3) |
Chapter 4, section 22(1)(a), 22(1)(b), section 22A, section 23(1)(f), 23(2)(h)(i), 23(2)(h)(ii), 23(2)(h)(iii), 23(2)(i)(i), 23(2)(i)(ii), 23(3)(f)(i), 23(3)(f)(ii), 23(3)(k), 23(3)(l), 23(3)(m), 23(3)(n), 23(3)(o), 23(4)(a)(iii), 23(4)(b)(iii), 23(4)(b)(iv), 23(4)(b)(v), 23(4)(b)(vi), 23(4)(b)(vii), section 24(1), 24(2), 24(3) | commenced on 20 May 2005 by Government Notice R456 of 2005. |
Chapter 4, section 22B–22C, section 24(4) | commenced on 1 October 2010 by Government Notice R867 of 2010. |
Chapter 5, section 27A–27C | commenced on 1 December 2010 by Government Notice 1107 of 2010. |
Section 1A; Chapter 4, section 22A(1)(g), 22A(2)(a)(i), 22A(2)(a)(ii), 22A(2)(b)(i), 22A(2)(b)(ii), 22A(2)(b)(iii), 22A(2)(b)(iv), 22A(3)(f), 22A(4)(a)(iiiA), 22A(4)(a)(x), 22A(4)(a)(xi), 22A(4)(b)(viii), 22A(6), section 22C(1)(g), 22C(2)(a)(i), 22C(2)(a)(ii), 22C(2)(a)(iii), 22C(2)(a)(iv), 22C(3)(a)(iv), 22C(3)(a)(v), 22C(3)(a)(vi), 22C(3)(a)(vii), 22C(3)(a)(viii), 22C(3)(a)(ix), 22C(3)(a)(x), 22C(3)(a)(xi), 22C(3)(a)(xii), 22C(3)(b)(iv), section 23(1)(g), 23(2)(a)(i), 23(2)(a)(ii), 23(2)(a)(iii), 23(2)(a)(iv), 23(2)(a)(v), 23(2)(b)(i), 23(2)(b)(ii), 23(2)(b)(iii), 23(2)(b)(iv), 23(2)(b)(v), 23(3)(a)(i), 23(3)(a)(ii), 23(3)(a)(iii), 23(3)(a)(iv), 23(3)(a)(v), 23(3)(a)(vi), 23(3)(a)(vii), 23(3)(a)(viii), 23(3)(b)(i), 23(3)(b)(ii), 23(3)(b)(iii), 23(3A), 23(4)(a)(i)(aa), 23(4)(a)(i)(bb), 23(4)(a)(ii)(aa), 23(4)(a)(ii)(bb), 23(4)(a)(ii)(cc), 23(4)(a)(ii)(dd), 23(4)(a)(ii)(ee), 23(4)(a)(ii)(ff), 23(4)(a)(ii)(gg), 23(4)(a)(ii)(hh), 23(4)(a)(ii)(ii), 23(4)(b)(i)(aa), 23(4)(b)(i)(bb), 23(4)(b)(ii)(aa), 23(4)(b)(ii)(bb), 23(4)(b)(ii)(cc), 23(4)(b)(ii)(dd), 23(4)(b)(ii)(ee), 23(5)(j), 23(5)(k), 23(5)(l), section 23A, section 23B–23C, section 24A; Chapter 5, section 27D; Chapter 6, section 28(1)(aA), 28(1)(aB), 28(1)(aC), 28(1)(bA), 28(1)(bB), section 29(6A), 29(6B), 29(6C), 29(6D), 29(6E), 29(6F), 29(6G), 29(6H), 29(6I), 29(6J), 29(6K), 29(6L) | commenced on 2 October 2017 by Government Notice R1062 of 2017. |
Chapter 4, section 22C(1)(f)(i), 22C(1)(f)(ii), 22C(3)(b)(v), 22C(4)(a)(i), 22C(4)(a)(ii), 22C(4)(a)(iii), 22C(4)(a)(iv), 22C(4)(a)(v), 22C(4)(b)(i), 22C(4)(b)(ii), 22C(4)(b)(iii), 22C(4)(b)(iv), 22C(4)(b)(v), 22C(4)(b)(vi), 22C(4)(b)(vii), 22C(4)(b)(viii), 22C(4)(b)(ix), 22C(4)(b)(x), 22C(4)(b)(xi), 22C(4)(b)(xii), 22C(5) | commenced on 14 November 2022 by Government Notice 2638 of 2022. |
Chapter 4, section 23D–23E, section 24(5); Chapter 6, section 29(6M), 29(6N) | commenced on 1 February 2023. |
- [Amended by Money Laundering and Terrorist Financing Control Regulations: Amendment (Government Notice R456 of 2005) on 20 May 2005]
- [Amended by Money Laundering and Terrorist Financing Control Regulations: Amendment (Government Notice R867 of 2010) on 1 October 2010]
- [Amended by Money Laundering and Terrorist Financing Control Regulations: Amendment (Government Notice 1107 of 2010) on 1 December 2010]
- [Amended by Money Laundering and Terrorist Financing Control Regulations: Amendment (Government Notice R1062 of 2017) on 2 October 2017]
- [Amended by Money Laundering and Terrorist Financing Control Regulations: Amendment (Government Notice 2638 of 2022) on 14 November 2022]
- [Amended by Money Laundering and Terrorist Financing Control Regulations: Amendment (Government Notice 2943 of 2023) on 1 February 2023]
Definitions
1. Definitions
In these regulations “the Act” means the Financial Intelligence Centre Act, 2001 (Act No 38 of 2001), and, unless the context otherwise indicates, any word or expression to which a meaning has been assigned in the Act has that meaning, and—"cash threshold report" means a report which must be submitted by accountable and reporting institutions in terms of section 28 of the Act;[definition of "cash threshold report" inserted by section 2(a) of Government Notice R1062 of 2017]"close corporation"[definition of "close corporation" deleted by section 2(b) of Government Notice R1062 of 2017];"days", for the purpose of regulation 24, means all days of the week excluding Saturdays, Sundays and public holidays;[definition of "days" inserted by section 2(a) of Government Notice R456 of 2005]"foreign company" [definition of "foreign company" deleted by section 2(b) of Government Notice R1062 of 2017]"guidance" means guidance issued by the Centre in terms of regulation 28;[definition of "guidance", previously "guidance notes" substituted by section 2(c) of Government Notice R1062 of 2017]"international funds transfer report" means a report which must be submitted in terms of section 31 of the Act;[definition of "international funds transfer report" inserted by section 2(a) of Government Notice 2943 of 2023]"identification document" [definition of "identification document" deleted by section 2(b) of Government Notice R1062 of 2017]"manager" [definition of "manager" deleted by section 2(b) of Government Notice R1062 of 2017]"property associated with terrorist and related activities" means property referred to in section 28A (1)(a) and (b) of the Act;[definition of "property associated with terrorist and related activities" inserted by section 2(b) of Government Notice R456 of 2005]"reporter" means—(a)an accountable institution or reporting institution making a cash threshold report under section 28 of the Act as contemplated in regulation 22C;(b)an accountable institution making a terrorist property report under section 28A of the Act as contemplated in regulation 22A;(c)a natural or legal person making a suspicious or unusual transaction report, suspicious or unusual activity report, terrorist financing transaction report or terrorist financing activity report, under section 29 of the Act as contemplated in regulations 23, 23A, 23B or 23C, or other entity on whose behalf such a report is made; and(d)an accountable institution making an international funds transfer report under section 31 of the Act as contemplated in regulation 23E;[definition or "reporter" inserted by section 2(d) of Government Notice R1062 of 2017 and substituted by section 2(b) of Government Notice 2943 of 2023]"South African company"[definition of "South African company" deleted by section 2(b) of Government Notice R1062 of 2017]"suspicious or unusual transaction or series of transactions" [definition of "suspicious or unusual transaction or series of transactions" inserted by section 2(c) of Government Notice R456 of 2005 and deleted by section 2(e) of Government Notice R1062 of 2017]"suspicious or unusual activity report" means a report which must be submitted—(a)in terms of section 29(1) of the Act in respect of the proceeds of unlawful activities or money laundering where the report relates to an activity which does not involve a transaction between two or more parties. or(b)in terms of section 29(2) of the Act in respect of a transaction or a series of transactions about which enquiries are made but which has not been concluded;[definition of "suspicious or unusual activity report" inserted by section 2(e) of Government Notice R1062 of 2017]"suspicious or unusual transaction report" means a report which must be submitted in terms of section 29(1) of the Act in respect of the proceeds of unlawful activities or mane laundering where the report relates to a transaction or series of transactions between two or more parties;[definition of "suspicious or unusual transaction report" inserted by section 2(e) of Government Notice R1062 of 2017]"terrorist financing activity report" means a report which must be submitted(a)in terms of section 29(1) of the Act in respect of the financing of terrorism and related activities where the report relates to an activity which does not involve a transaction between two or more parties; or(b)in terms of section 29(2) of the Act in respect of a transaction or a series of transactions about which enquiries are made, but which has not been concluded;[definition of "terrorist financing activity report" inserted by section 2(e) of Government Notice R1062 of 2017]"terrorist financing transaction report" means a report which must be submitted in terms of section 29(1) of the Act in relation to the financing of terrorism and related activities where the report relates to a transaction or series of transactions between two or more parties;[definition of "terrorist financing transaction report" inserted by section 2(e) of Government Notice R1062 of 2017]"terrorist property report" means a report which must be submitted in terms of section 28A of the Act;[definition of "terrorist property report" inserted by section 2(e) of Government Notice R1062 of 2017]"the Amendment Act" means the Financial Intelligence Centre Amendment Act, 2008 (Act 11 of 2008);[definition of "the Amendment Act" inserted by section 2 of Government Notice 1107 of 2010]"trust"[ definition of "trust" deleted by section 2(b) of Government Notice R1062 of 2017]1A. Prescribed amount of a single transaction
Chapter 1
***
[chapter 1 repealed by section 4 of Government Notice R1062 of 2017]Chapter 2
Record-keeping
20. Particulars of third parties keeping records
If an accountable institution appoints a third party to keep on its behalf any records which that institution must retain in terms of the Act, that institution must without delay provide the Centre and the relevant supervisory body with—Chapter 3
***
[chapter 3 repealed by section 6 of Government Notice R1062 of 2017]Chapter 4
Reporting
[heading substituted by section 7 of Government Notice R1062 of 2017]22. Manner of reporting
22A. Information to be reported concerning a terrorist property report
22B. Prescribed amount for cash transaction reporting
The prescribed amount of cash above which a transaction must be reported to the Centre under section 28 of the Act is R49 999,99.[regulation 22B inserted by section 2 of Government Notice R867 of 2010 and substituted by section 2 of Government Notice 2638 of 2022]22C. Information to be reported concerning a cash threshold report
23. Information to be reported concerning a suspicious or unusual transaction report
23A Information to be reported concerning a suspicious or unusual activity report
23B. Information to be reported concerning a terrorist financing transaction report
23C. Information to be reported concerning a terrorist financing activity report
23D. Prescribed amount for the reporting of an international funds transfer report
The prescribed amount of funds above which a transaction must be reported to the Centre under section 31 of the Act is R19 999,99.[regulation 23D inserted by section 3 of Government Notice 2943 of 2023]23E. Information to be reported concerning an international funds transfer report
24. Period for reporting
24A. Manner in which and period within additional information to be furnished
An accountable institution, a reporting institution or any other person that receives a request for additional information from the Centre in terms of section 32 of the Act must, after receiving such request from the Centre and within the number of days specified in the request furnish to the Centre the additional information—Chapter 5
Internal rules
[heading substituted by section 14 of Government Notice R1062 of 2017]25. ***
[regulation 25 repealed by section 15 of Government Notice R1062 of 2017]26. ***
[regulation 26 repealed by section 15 of Government Notice R1062 of 2017]27. ***
[regulation 27 repealed by section 15 of Government Notice R1062 of 2017]27A. Period for and manner of registration by accountable institutions and reporting institutions
27B. Period within and manner in which supervisory body must submit written report to Centre
27C. Manner in which appeal is to be lodged and payment of fee
With regard to an appeal contemplated in section 45D(1) of the Act,27D Criteria for supervisory body to request information relating to a report made in terms of section 29
Chapter 6
Miscellaneous
28. Guidance
29. Offences and penalties and administrative sanctions for non-compliance
30. Title and commencement
History of this document
01 February 2023 this version
Commenced
14 November 2022
02 October 2017
01 December 2010
01 October 2010
20 May 2005
30 June 2003
Commenced
Note: See section 30(3)
03 February 2003
Commenced
Note: See section 30(2)
20 December 2002
Cited documents 3
Legislation 3
1. | Financial Intelligence Centre Act, 2001 | 966 citations |
2. | Trust Property Control Act, 1988 | 297 citations |
3. | Financial Intelligence Centre Amendment Act, 2008 | 5 citations |