FINANCIAL INVESTIGATIONS DIVISION ACT

ARRANGEMENT OF SECTIONS

PART I
Preliminary

   1   Short title

   2   Interpretation

   3   Object of Act

 

PART II
Financial Investigations Division Establishment and Functions

   4   Establishment of Financial Investigations Division

   5   Functions of Division

   6   Functions of co-operation between Division and other authorities

   7   Policy directions

 

Administration

   8   Appointment of Chief Technical Director and staff

   9   Delegation of functions

   10   Obligation for secrecy

 

Reports and Information

   11   Reports

   12   Agreements and arrangements

   13   Savings for mutual assistance

   14   Protection of persons exercising functions under this Act

 

PART III
Enforcement Production and Inspection Orders

   15   Interpretation for Part III

   16   Assistance to authorised officer

   17   Production and inspection orders

   18   Scope of powers under production order

   19   Evidential value of information

 

Restraint Orders

   20   Application for restraint order

   21   Restraint order

   22   Undertakings by Crown

   23   Notice of application for restraint order

   24   Service of restraint order

   25   Contravention of restraint order

   26   Notice and duration of restraint order

   27   Extension of restraint order

 

Account Monitoring Orders

   28   Monitoring orders

   29   Monitoring orders not to be disclosed

 

Certification of Copies of Documents

   30   Certification of copies of documents

 

Search Warrant

   31   Search warrant to facilitate investigations

 

PART IV
Offences and Penalties Generally

   32   Offences and penalties generally

 

PART V
General

   33   Records

   34   Regulations

   35   Penalties under Regulations

   36   Amendment of other Acts

   37   Review of Act after two years

      SCHEDULE

 

THE FINANCIAL INVESTIGATIONS DIVISION ACT

[Date of Commencement: 19th April, 2010]

Act 9 of 2010.

PART I
Preliminary

1   Short title

   This Act may be cited as the Financial Investigations Division Act.

2   Interpretation

   In this Act, unless the context otherwise requires-

   "authorised officer" means-

   (a)   the Chief Technical Director;

   (b)   any officer of the Division who is authorised as such by the Chief Technical Director for the purposes of this Act;

   (c)   any member of the Jamaica Constabulary Force so designated by the Commissioner of Police;

   "benefit" includes any property, service or advantage, whether direct or indirect;

   "Chief Technical Director" means the person appointed as such under section 8;

   "competent authority" means the person designated as such by the Minister for the purposes of this Act;

   "credit union business" means the business of the taking of deposits and withdrawable shares by a credit union from its members, and the provision of credit facilities by a credit union to its members and any other business that may be so designated by the Minister in writing;

   "designated non-financial institution" means a person or category of persons who is-

   (a)   not primarily engaged in carrying on financial business; and

   (b)   designated as a non-financial institution for the purposes of this Act by the Minister by order subject to affirmative resolution;

   "document" has the same meaning as in section 31B of the Evidence Act;

   "Division" means the Financial Investigations Division established under section 4;

   "Executive Agency" means a public body, which is designated as an Executive Agency pursuant to the Executive Agencies Act;

   "financial crime" means any offence involving money or other benefits and includes any offence involving fraud, dishonesty, money laundering or the financing of terrorist activities;

   "financial institution" means-

   (a)   a bank licensed under the Banking Act;

   (b)   a financial institution licensed under the Financial Institutions Act;

   (c)   a building society licensed under the Building Societies Act;

   (d)   a society registered under the Co-operative Societies Act and which carries on credit union business;

   (e)   a person licensed under the Bank of Jamaica Act to operate an exchange bureau;

   (f)   a person licensed under the Securities Act as a dealer or an investment adviser;

   (g)   a person who-

         (i)   engages in insurance busmess within the meaning of the Insurance Act;

         (ii)   performs services as an insurance intermediary within the meaning of the Insurance Act,

      but does not include an insurance consultant or an adjuster;

   (h)   approved money transfer and remittance agents and agencies as defined in section 2 of the Bank of Jamaica Act; and

   (i)   such other person or category of persons as may be designated by the Minister by order, subject toaffirmativeresoluuor^to for the purposes of this Act;

   "foreign financial intelligence department" means the body in a country other than Jamaica which performs in that country, functions similar to those of the Division;

   "functions'' includes powers and duties;

   "Government company" means a company registered under the Companies Act, being a company in relation to which, the Government or an agency of the Government, by the holding of shares in the company or by other financial input, is in a position to influence the policy of that company;

   "interest" in relation to any property means a legal or equitable interest in the property, or a right, power or privilege in connection with the property;

   "Judge" means a Judge of the Supreme Court;

   "property" includes money and all other property, real or personal, including things in action and other intangible or incorporeal property;

   "public body" means-

   (a)   any Ministry or Department, Executive Agency, or other agency of Government;

   (b)   a Government company or statutory body;

   (c)   any entity that provides services of a public nature, specified by the Minister, by order subject to affirmative resolution, as a public body for the purposes of this Act.

3   Object of Act

   The object of this Act is to establish a department of Government with sufficient independence and authority to effectively deal with the multidimensional and complex problem of financial crime and confer upon it the responsibility to-

   (a)   investigate all categories of financial crime;

   (b)   collect information and maintain intelligence databases on financial crimes;

   (c)   maintain an arm's length relationship with law enforcement agencies and other authorities of Jamaica and of foreign States, and with regional and international associations or organisations, with which it is required to share information;

   (d)   exercise its functions with due regard for the rights of citizens.

PART II
Financial Investigations Division Establishment and Functions

4   Establishment of Financial Investigations Division

   There is hereby established for the purposes of this Act, a department of Government to be known as the Financial Investigations Division

5   Functions of Division

   (1) Subject to the provisions of this Act, the Division shall-

This section of the article is only available for our subscribers. Please click here to subscribe to a subscription plan to view this part of the article.