Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions)
Ordinance
- (a) a statement of the reasons for the decision;
- (b) in so far as applicable, the terms in which the licensee is reprimanded under the decision;
- (c) in so far as applicable, the action that the licensee is required to take under the decision;
- (d) in so far as applicable, the amount of any pecuniary penalty imposed under the decision and, if the penalty is to be paid at a time other than that specified in section 43(3)(a), the time within which it is required to be paid; and
- (e) a statement that the licensee may apply to the Review Tribunal for a review of the decision.
45. Guidelines on how Commissioner exercises power to impose pecuniary penalty
(1) The Commissioner must, before he or she first exercises the power to impose a pecuniary penalty referred to in section 43(2)(c), publish in the Gazette and in any other manner that the Commissioner considers appropriate, guidelines to indicate the manner in which the Commissioner proposes to exercise that power.
(2) In exercising the power to impose a pecuniary penalty referred to in section 43(2)(c), the Commissioner must have regard to the guidelines published under subsection (1).
(3) Guidelines published under subsection (1) are not subsidiary legislation.
46. Commissioner may appoint authorized officers
The Commissioner may appoint in writing any public officer employed in the Customs and Excise Department to be an authorized officer for the purposes of this Part.
