Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 26 November 2018 - onwards
  Version 3 of 3    

32. Designation of places having inadequate procedures for detection of money laundering or terrorist financing.

As of 26 November 2018 this text has been repealed

(1) The Minister may, after consultation with the Minister for Finance, by order designate a place that is not a Member State, for the purposes of sections 34 (3), 36 (2) and 43, if the Minister is satisfied that the place does not have adequate procedures in place for the detection of money laundering or terrorist financing.

(2) A place that is the subject of a decision adopted by the European Commission and in force, under Articles 40(4) and 41(2) of the Third Money Laundering Directive is taken to have been designated under this section.