Words in bold type in square brackets indicate …

2No. 40821 GOVERNMENT GAZETTE, 2 May 2017 Act No. 1 of 2017 Financial Intelligence Centre Amendment Act, 2017 GENERAL EXPLANATORY NOTE:[] Words in bold type in square brackets indicate omissions fromexisting underlined with a solid line indicate insertions inexisting amend the Financial Intelligence Centre Act, 2001, so as to define or furtherdefine certain expressions; to extend the objectives of the Centre so as to providefor the additional sharing of information and for the Centre to assist in theimplementation of financial sanctions and to administer measures pursuant toresolutions adopted by the Security Council of the United Nations; to extend thefunctions of the Centre so as to provide for the additional sharing of informationand to provide for guidance to accountable institutions in respect of the freezing ofproperty and transactions pursuant to resolutions adopted by the Security Councilof the United Nations; to abolish the Counter Money Laundering AdvisoryCouncil; to provide for a risk based approach to client identification andverification; to provide for the strengthening of customer due diligence measuresincluding with respect to beneficial ownership and persons in prominent positions;to provide for the obligation to keep identity and ver

2 40821 GOVERNMENT 2 2017 At o 1 o 2017 2017 GENERAL EXPLANATORY NOTE: [] Words in bold type in square brackets indicate omissions from existing enactments. Words underlined with a solid line indicate insertions in

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