Notice - Section 4(9) of the Proceeds of Crime Law – AML – Real Estate (2019-GN45)
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Extraordinary No. 45/2019 41 Friday, 12 July 2019 Departmental Notice
NOTICE SECTION 4(9) OF THE PROCEEDS OF CRIME LAW (2019 REVISION)
Pursuant to section 4(9) of the Proceeds of Crime Law (2019 Revision) the Cabinet, on 9 July, 2019, assigned to the Department of Commerce and Investment the responsibility of monitoring compliance by —
(a) persons undertaking property development within the meaning set out in section 2 of the Trade and Business Licensing Law (2019 Revision) and the subsequent sale of that property without using a real estate agent or broker; and (b) persons undertaking property investment without using a real estate agent or broker,
with money laundering regulations made under the Proceeds of Crime Law (2019 Revision). Wednesday, 10 July, 2019