Part 4, Chapter 9, Section 95 · Criminal Justice (Money Laundering and Terrorist Financing) Act 2010

Contents

95Holder of authorisation to ensure that principal officers and beneficial owners are fit and proper persons.#

— (1) The holder of an authorisation shall take reasonable steps to ensure that the following persons are fit and proper persons:

(a)in a case where the holder of the authorisation is a body corporate, a partnership or an individual carrying on business as a trust or company service provider as a partner in a partnership, any principal officer of the body corporate or partnership (as the case may be);

(b)any person who is a beneficial owner of the business concerned.

(2)A person who commits an offence under this section is liable—

(a)on summary conviction, to a fine not exceeding €2,000, or

(b)on conviction on indictment, to a fine not exceeding €100,000.

Contains Revised Acts prepared by the Law Reform Commission (revisedacts.lawreform.ie): legislative text under the Oireachtas (Open Data) PSI Licence, annotations under CC BY 4.0. Revised Acts are administrative consolidations, not authoritative.