ANTI-TERRORISM (TERRORIST FINANCING) REGULATIONS 2013
His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam has consented to the strengthening of the Anti-Terrorism Order, 2011 with the issuance of the Anti-Terrorism (Terrorist Financing) Regulations 2013. The Regulations takes effect from 8th December 2012 and was issued by the Minister responsible for internal security matters for the purpose of the Anti-Terrorism (Terrorist Financing) Regulations 2013.
The Regulations enables Brunei Darussalam to implement United Nations Security Council Resolutions (“UN Resolutions”) 1267, 1373, 1988 and 1989 which concern measures to freeze terrorist-related funds and other assets without delay.
The Regulations requires every person in Brunei Darussalam and every Brunei Darussalam citizen outside of the country to freeze without delay funds or other assets of designated persons. A designated person is defined as a person or entity associated with Al-Qaida as designated by the UN Al-Qaida Sanctions Committee on the Al-Qaida Sanctions List; a person or entity associated with the Taliban in constituting a threat to the peace, stability and security of Afghanistan as designated by the UN 1988 Sanctions Committee on the 1988 Sanctions list; a person or entity designated by the Minister under the Regulations, either at his own motion or as requested by a foreign jurisdiction, pursuant to UN Resolution 1373 and any subsequent or successor resolutions; or a person or entity declared by the Minister as a terrorist or a terrorist group under section 65 of the Anti-Terrorism Order 2011.
The Regulations also impose obligations on the part of financial institutions and designated non-financial businesses and professions to report to the Financial Intelligence Unit, Autoriti Monetari Brunei Darussalam, of any suspicions of property which are the subject of any transaction that may be property of designated persons.
Any person who fails or refuses to comply with or contravenes the obligations under the Regulations may be liable on conviction to a fine not exceeding B$1,000,000 and in the case of a continuing offence, to a further fine of B$100,000 for every day during which the offence continues after conviction.
A Consolidated List of designated persons can be found on the official website of Autoriti Monetari Brunei Darussalam (www.ambd.gov.bn) by clicking on “Financial Intelligence & Enforcement” and “Combating the Financing of Terrorism (CFT) Matters”. Alternatively, the Consolidated List can be accessed by clicking on “Combating the Financing of Terrorism (CFT) Matters” under “Quick Links”.
Autoriti Monetari Brunei Darussalam
13 Rejab 1434 / 23 May 2013
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