In accordance with section 157(6)(b) of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009, the Associate Minister of Justice hereby gives notice that he has granted the following exemption from the Act:
Ministerial Exemption: Women in Enterprise Incorporated
- As the Associate Minister of Justice, and pursuant to section 157 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“Act”), I exempt Women in Enterprise Incorporated (“WIE”) from the following provisions of the Act:
- Sections 10–71 inclusive.
- This exemption is made subject to the following condition:
- WIE must inform the Ministry of Justice of any changes that may affect the exemption within 10 working days of when the change occurs.
- The exemption has been made for the following reasons:
- the risk of money laundering/terrorist financing associated with WIE’s business activities is low;
- WIE, in the absence of an exemption, would be subject to an undue regulatory burden;
- renewing this exemption is unlikely to affect third-party reporting entities; and
- there have been no material changes to WIE’s business activity since the previous exemption was granted.
- This exemption comes into force on 14 August 2018.
- This exemption will expire on 30 June 2023.
Any person wishing to provide comment on this notice should contact the Criminal Law Team at the Ministry of Justice by emailing: firstname.lastname@example.org.
Dated this 14th day of August 2018.
Hon AUPITO WILLIAM SIO, Associate Minister of Justice.