Overview of Irish Law on Money Laundering

Overview of Irish Law on Money Laundering The material provided below is for information purposes only and does not constitute a legal document nor does it act as an interpretation of the law The main provisions in Irish law relating to Money Laundering are set out in Section 31 of the Criminal Justice Act 1994, (as amended by Section 21 of the Criminal Justice (Theft and Fraud Offences) Act 2001 ), Sections 32 and 57 of the Criminal Justice Act 1994, and Section 23 of the Criminal Justice (Theft and Fraud Offences) Act 2001. The Criminal Justice (Terrorist Offences) Act 2005 amended Sections 32 and 57 of the Criminal Justice Act 1994 to include the offence of financing terrorism. Criminal Justice Act 1994 Section 31 of the Criminal Justice Act 1994 was the basic legislation on money laundering. It created the offences by providing that it was an offence for a person to do a number of things in relation to property which is either wholly or partly the proceeds of drug trafficking or any other criminal activity knowing or believing that the property is such proceeds. This included concealing, converting, transferring or handling the property or removing it from the State. The offence carried, on conviction on indictment, a maximum penalty of an unlimited fine or 14 years imprisonment or both. From the point of view of the development of money laundering legislation, a significant point to note about the 1994 Act is that it related to property that was the proceeds of drug trafficking or any other criminal activity. This allowed the Irish legislation to encompass changes in the concept of money laundering as the nature of the offence was developed and broadened throughout the 1990s. Section 31 of the Criminal Justice Act, 1994 as replaced by Section 21 of the Criminal Justice (Theft & Fraud Offences) Act 2001 sets out a revised offence of money laundering, and provides for other associated measures, such as offences of concealing or disguising the true nature of the property in question, or acquiring or pos sessing it, knowing it to be, or reckless as whether it is or represents the proceeds of criminal conduct. The significant difference between the new section and the old section is the introduction of the concept of recklessness into the offence. The new offence provides that being reckless as to whether the property is or represents the proceeds of criminal conduct is now a sufficient level of culpability to warrant conviction. (For a more detailed description of the provisions in Section 31 click here ) Section 32 of the Criminal Justice Act 1994 designated certain bodies and persons for anti - money laundering purposes. The effect of the designation is twofold: When providing certain specified services designated bodies and persons are obliged to identify customers and retain certain records. Designated bodies and persons must report to the Garda Síochána (Irish police force) any suspicion that a money laundering or financing of terrorism offence has been or is

being committed in relation to their business. (Section 57 of the Act provides for immunity when reports are made in good faith.) Section 32 also prescribed certain activities for the purposes of the Section based on Council Directives 89/646/EEC and 79/267/EEC. Regulations have been made which extend the provisions of section 32 to both designated bodies and prescribed activities. Section 32 was later amended by section 14 of the Criminal Justice (Miscellaneous Provisions) Act 1997 and recently by Section 32 of the Criminal Justice (Terrori st Offences) Act 2005 requiring designated bodies to adopt measures to prevent and detect the commission of a money laundering or financing of terrorism offence, including the establishment of internal procedures, circulation of instructions to, and appropriate training of employees, directors and officers. To assist in this, a Money Laundering Steering Committee was established under the chairmanship of the Department of Finance and including representatives from the public sector, law enforcement and the private sector. One of the principal tasks of this Committee is to draw up and keep under review Guidance Notes for the various sectors designated under Section 32 of the Act to assist them in compliance with the requirements of that section. (For a more detailed description of Section 32 click here) Section 57 of the Act (as amended by Section 33AK of the Central Bank and Financial Services Authority of Ireland Act 2003) makes provision for disclosure of information to the Gardaí and the Revenue Commissioners (Irish Tax authority) by any person designated under Section 32. The section also makes provision, on summary conviction for a fine of 1,250 or imprisonment for 12 months or both; or on conviction on indictment to a fine or imprisonment for a term not exceeding 5 years or both. Section 57A as inserted into Criminal Justice Act 1994 by Section 23 of the Criminal Justice (Theft and Fraud Offences) Act 2001 empowers the Minister for Justice, Equality and Law Reform, in consultation with the Minister for Finance, to designate states or territories as lacking adequate anti- money laundering procedures for the purpose of requiring banks and other institutions to report to the Garda authorities transactions connected with those states or territories, as Section 57A of that Act. (For a more detailed description of the provisions of Section 57a click here.) Information on Confiscation The Criminal Justice Act 1994 (as amended) contains detailed and comprehensive provisions on the confiscation of the pro ceeds of crime following conviction. Under Section 9 of the Act, where a person is convicted of any offence on indictment, the court can, on the application of the Director of Public Prosecutions (DPP), enquire into whether the person has benefited from the offence and, if it is satisfied that there has been such a benefit, the court can require the repayment of that benefit. The standard of proof for determining whether and to what extent the person benefited from the offence is that

applicable in civil proceedings, which is the balance of probabilities, although of course the conviction itself must be obtained on the normal criminal standard, which is beyond reasonable doubt. If necessary, the property of the convicted person can be taken into possession and sold to satisfy the confiscation order. Where the offence concerned is a drug trafficking offence or an offence of financing terrorism- (Sections 4 to 8 of the Act) - the court is empowered to make strong assumptions about the origins of the defendant's property, e.g. that any property transferred to him or her in the six years prior to the proceedings were as payment or reward for drug trafficking (Section 5). In addition, the Director of Public Prosecutions may apply to court for a restraint order, which prevents any dealings in, or in other words freezes, specified property in anticipation of a confiscation order, even where criminal proceedings have not commenced but are merely contemplated. Of course, a prosecution must then be commenced within a reasonable time, otherwise the restraint order will be discharged. Subsequently, the provisions in the Criminal Justice Act 1994 relating to confiscation were amended by the Criminal Justice Act 1999 (Sections 25-28 refer). The amendments provide that on conviction for a drug trafficking offence the court will automatically determine whether the offender has benefited (unless the court is satisfied that the amount which might be recovered would not be sufficient to justify the making of a determination) with a view to making a confiscation order. The Proceeds of Crime Act 1996 provides for the civil forfeiture of property which is the proceeds of crime. Applications under the Act may be made by a member of the Garda Síochána (police) not below the rank of chief superintendent or an authorised officer of the Revenue Commissioners (but in practice are made by the Chief Bureau Officer of the Criminal Assets Bureau, who is a chief superintendent.) If the High Court is satisfied, on the balance of probabilities, that a person is in possession or control of property which is or represents the proceeds of crime, it may order the freezing of the property and, after seven years, its disposal for the benefit of the Exchequer. The belief of the applicant that property is the proceeds of crime is admissible as evidence, provided that the court is satisfied that there are reasonable grounds for the belief. The initial hearing is ex parte, but there is provision for a full interlocutory hearing after twenty one days where the respondent has an opportunity to show the High Court, again on the balance of probabilities, that the property is not the proceeds of crime. There are some important distinctions to bear in mind about the Proceeds of Crime Act 1996 and the Criminal Justice Act, 1994: (1) The confiscation provisions of the 1994 Act are employed following the conviction of the accused whereas, under the 1996 Act, the application may be made without any such conviction.

(2) The 1996 Act applies to property wh ich is worth at 13,000 (formerly IR 10,000) and which is the proceeds of a n y crime. (3) The 1996 Act pursues the proceeds of crime rather than the individual concerned. Since the process relates to c i v i l forfeiture, the standard of proof required to determine the proceedings or any issue relating to the proceedings under the Act is the balance of probabilities standard, (Section 8), rather than the standard applicable to criminal proceedings of beyond all reasonable doubt. The Proceeds of Crime (Amendment ) Act 2005 makes a number of technical changes to the 1996 Proceeds of Crime Act in the light of experience gained in its operation. These include the removal of any doubt there may be over when a person may be said to be in possession or control of property for the purposes of the Act. Other provisions relate to the submission of evidence and the variation of freezing orders for certain purposes, such as the enforcement of taxes or court orders for the recovery of money and the establishment of a new co rrupt enrichment order which allows CAB to seize the proceeds where someone, by means of some corrupt act, has benefitted from the enhancement of value of property legally acquired, arising from the corrupt act. The threshold under the 1996 Act outlined at (2) above does not apply to corrupt enrichment orders. The net effect of the amendment Act is to strengthen the existing powers of the Criminal Assets Bureau, a multi-agency body, which combines Garda functions with those of the Office of the Revenue Commissioners and the Department of Social and Family Affairs and also aims to provide added impetus to its activities, particularly in the fight against corruption. Criminal Assets Bureau The Criminal Assets Bureau was established by the Criminal Assets Bureau Act 1996. The Bureau brings together in one agency the skills and powers of the Garda Síochána, the Revenue Commissioners and the Department of Social, Community and Family Affairs so that individuals suspected of involvement in organised crime can be comprehensively investigated. Its work is facilitated through the Proceeds of Crime Act 1996 and the Disclosure of Certain Information for Taxation and Other Purposes Act 1996 which allows for the exchange of information between the Revenue Commissioners, the Gardaí and other relevant persons in relation to the identification of criminal assets. Information on the Reversal of the burden of proof Under the Proceeds of Crime Act 1996 in a hearing of an application for an interlocutory order (the main order freezing property), the applicant, which in practice is the Chief Bureau Officer of the Criminal Assets Bureau, must persuade the High Court on the balance of probabilities that the property in question is the proceeds of crime and is worth 13,000 or more. If the High Court is so persuaded, on the basis of the evidence of the applicant, it must grant the order, unless the respondent (the person who claims to be the

owner) satisfies the Court that it is not. In other words, once the applicant establishes proof that the property is the proceeds of crime, the burden of proof shifts to the respondent to show that it is not. There is also a general safeguard whereby the Court must not make the order if it is satisfied that there would b e a serious risk of injustice. Subsection 31 as amended detailed description of the new provisions Subsection (1) contains the elements of the offence, providing that a person will be guilty of money laundering where he or she knows or believes, or is reckless as to whether, the property is or represents the proceeds of criminal conduct, and he or she, without lawful authority or excuse, does any of a number of acts in relation to the property which are set out in the subsection. The subsection places the onus on the person, if relying on the defence of "lawful authority or excuse" to prove that defence. The inclusion of the concept of recklessness into the new offence of money laundering addresses the state of mind of the defendant, and while broad ening the 1994 provision, still requires a high level of intent. (a) (a) provides that, in relation to the offence of money laundering, the conversion, transfer or handling of proceeds of criminal conduct, or its removal from the State, is an action coming within the scope of the offence when the person has the intention of (i) concealing or disguising specific information regarding the property, that is its true nature, source, location, disposition, movement, ownership or rights relating to it, or (ii) helping another person to avoid prosecution, or (iii) either of avoiding the making of a confiscation order, or of a confiscation co - operation order under section 46 Criminal Justice Act, 1994, or of frustrating the enforcement of such an order against that or another person. (b) (b) provides that, in relation to the offence of money laundering, concealing the true nature of the property, or its source, location, disposition, movement, ownership or rights relating to it, is an action coming within the scope of the offence. (c) (c) provides that, in relation to the offence of money laundering, acquiring, possessing or using the property, is an action coming within the scope of the offence. Subsection (2) Subsection (2) sets out the penalty for offences under this section. The penalty for conviction upon indictment will be an unlimited fine or imprisonment for a term not exceeding 14 years, or both.

Subsection (3) Subsection (3) provides f or a presumption that the person knew, believed or was reckless about whether the property was proceeds of criminal conduct unless the court or jury is satisfied otherwise. (a) (a) provides that the conversion, transfer or handling of proceeds of crime, or its removal from the State, is an action giving rise to a presumption that the person knew, believed or was reckless about whether the property was proceeds of criminal conduct unless the court or jury is satisfied otherwise. (b) (b) provides that concealing the true nature of the property, or its source, location, disposition, movement, ownership or rights relating to it, is an action giving rise to a presumption that the person knew, believed or was reckless abou t whether the property was proceeds of criminal conduct unless the court or jury is satisfied otherwise. (c) (c) provides that acquiring, possessing or using the property, is an action giving rise to a presumption that the person knew, believed or was reckless about whether the property was proceeds of criminal conduct unless the court or jury is satisfied otherwise. Subsection (4) Subsection (4) provides for an objective test in relation to assessing the intention of a person who conv erts, transfers or handles property which is the proceeds of criminal conduct, or removes it from the State, or conceals or disguises its true nature, or its source, location, disposition, movement, ownership or rights relating to it, or acquires, possesses or uses the property. Where a person does any of these things in such circumstances that it is reasonable to conclude that he or she knew or believed, or was reckless about whether, the property was proceeds of criminal conduct, he or she will be taken to have known or believed, or been reckless, unless the court or jury is satisfied otherwise. Subsection (5) Subsection (5) exempts a person carrying out any function in relation to such proceeds of criminal conduct, within the context of the enforcement of any law, from the provisions of this section. Subsection (6) Subsection (6) is a transition provision providing that this Part, that is Part IV of the Criminal Justice Act, 1994, applies whether or not the conduct outlined by the provisions of section 21 of the Act occurred before or after the section's commencement and whether or not the conduct was attributable to the person in question.

Subsection (7) Subsection (7) sets out a number of definitions relevant to this section. (a) (a) (i) defines the term "criminal conduct", and includes participation within its meaning. "Criminal conduct" is firstly defined as conduct which is an indictable offence 1 or secondly, in relation to conduct occurring outside the State, as conduct which would be regarded as an indictable offence in this State and in addition is an offence in the country or territorial unit where it occurs. (a) (ii) provides a link to the definition of the term "reckless" in section 16 (2) of the Act, in that the person will be regarded as "reckless" where he or she disregarded a substantial risk that the property was the proceeds of criminal conduct. In this context, a substantial risk means a risk of such a nature and degree that, having regard to the circu mstances, its disregard involves culpability of a high degree. (a) (iii) provides that advice or assistance also come within the scope of converting, transferring, handling, or removing property from the State. (a) (iv) includes the concept of thinking that property probably was the proceeds of criminal conduct, within the scope of belief. (a) (v) sets out that the scope of references to any property includes references to property representing the whole or part of the property, whether that is directly or indirectly connected to it. (b) (b) defines the term handling property as a situation where the person, without a claim of right made in good faith (i) receives it, or (ii) retains, removes, disposes of or realises the property, or assists in the doing of these acts, by or for another person 1 U n d e r I rish law, crimes are classified as either summary offences or i n d i c t a b l e o f f e n c e s. S u m m a r y o f f e n c e s a r e o f f e n c e s o f a m i n o r n a t u r e a n d a r e t h o s e w h i c h a r e t r i e d b e f o r e a j u d g e w i t h o u t a j u ry. All other offences - o r i n o t h e r w o r d s, t h o s e w h i c h a r e n o t s u m m a r y o f f e n c e s - a r e c o n s i d e r e d s e r i o u s o f f e n c e s a n d a r e c l a s s i f i e d a s i n d i c t a b l e o f f e n c e s. I n d i c t a b l e o f f e n c e s a r e o f f e n c e s i n r e s p e c t o f which the accused elects to be tried before a jud ge sitting with a jury. If the accused elects for a jury t r i a l, t h e D i s t r i c t C o u r t w i l l c o n d u c t a p r e l i m i n a r y e x a m i n a t i o n t o s a t i s f y i t s e l f t h a t t h e r e i s s u f f i c i e n t e v i d e n c e t o r e t u r n t h e a c c u s e d f o r t r i a l t o a h i g h e r c o u r t. I f t h e a c c u s e d c o n s e n t s ( a n d i n p a r t i c u l a r c a s e s, t h e D. P. P. a l s o c o n s e n t s ), c e r t a i n c a s e s o f i n d i c t a b l e o f f e n c e s c a n b e h e a r d b y t h e D i s t r i c t C o u r t. T h e r e i s n o c a t e g o r i s a t i o n, per se, i n I r i s h l a w w h e r e b y t h e s e r i o u s n e s s o f t h e c r i m e i s d e t e r m i n e d a c c o r d i n g t o a s p e c i f i c t e r m o f i mprisonment attaching to that crime. However, under Section 2 of the Criminal Law Act 1997, there is a specific category of "arrestable offence" which is an offence for which a person may be arrested without warrant. Such offences, on conviction, are puni s h a b l e b y a term of imprisonment of 5 years or by a more severe penalty.

(iii) arranges to do any of the above. (c) (c) provides for the admission as evidence into proceedings, in relation to proceedings arising from an offence outside the State, of certain documentation, namely: (i) a document provided by a lawyer practising in another state or territorial unit about comparable offences under the law of that state or territorial unit; and (ii) a translation of a document of the type described at (i) above, unless it is shown that the document in question is not such a document. Subsection (8) Subsection (8) was put in place to provide a protection for persons and bodies making a suspicious transaction report (STR) to the Garda Síochána. The subsection states that persons or bodies shall not commit an offence for as long as the person or body complies with the directions of Garda Síochána in relation to the property. This section arose from a fear that a person or body who continued to transact business relating to property on which an STR has been made could be guilty of either assisting in money laundering, or, by declining to transact business could be guilty of tipping off a suspected person. Section 32 detailed description of the main provisions as amended; Subsection (1) sets out the list of designated bodies to whom this section applies. This section provides a list of certain designated bodies together with a provision to also apply to additional bodies which may be designated by the Minister for Justice, Equality and Law Reform by regulation. (See subsection 10a below) Subsection (2) outlines the section applies to the carrying out designated operations included in the Council Directive 89/646/EEC as amended by Council Directive 79/267/EEC by the designated bodies. It also refers to Section 10 of this section which empowers the Minister for Justice, Equality and Law Reform to designate further activities by regulation. Subsection (3) outlines the requirements regarding identification of clients that designated bodies must fulfil under this Section. The measures to be taken are set out in three circumstances (a) on a continuing basis (b) where the amount of a transaction or a series of transactions amount t o 13,000 or (c) if it suspects that a service is connected with an offence under Section 31 of the Act. Subsection (4) provides that in situations under Subsection 3(b) where the amount of the transaction is not known at the time of the transaction the obligation arises as soon as it is established that the sums involved amount to the sum mentioned in Subsection 3(b) Subsection (5) provides for situations where a person is acting for a third party when acquiring a service from a body designated under sub section 1. It provides that the designated body shall take all reasonable measures to establish the identity of the third party.

Subsection (6) provides that this section shall not apply where a designated body provides a service for another designated body in a member state of the EU or other prescribed countries for the purposes of this subsection. Subsection (7) and (8) set out the circumstances where subsections (3), (4) and (5) of the section shall not apply to life assurance. Subsection (9) provides for the retention of material for use of evidence in any investigation into money laundering or the financing of terrorism, and sets out the training requirements for designated bodies in this regard. Subsections 9A, 9B and 9C were inserted by Section 14 of the Criminal Justice (Miscellaneous Provisions) Act 1997 to outline the procedures, instructions and training which needs to be provided by designated bodies in relation to its obligations to prevent and detect the commission of an offence under Section 31 of this Act. Subsection 9B(c) was amended by Section 32 of the Criminal Justice (Terrorist Offences) Act 2005 to include identification of the financing of terrorism as part of the training of directors, other officers and employees of designated bo d i e s. Subsection (10) empowers the Minister for Justice, Equality and Law Reform following consultation with the Minister for Finance to (a) prescribe other persons or bodies to be designated for the purposes of this section, (b) prescribe activities for the purposes of subsection (2) of this section, (c) prescribe an amount for the purposes of subsections 3b and 4 of this section, (d) prescribe states or countries for the purposes of subsection 6 of this section, and following consultation with the Minis ter for Enterprise, Trade and Employment (e) prescribe amounts for the purposes of subsections 7(a) and (b) of this section. A new Subsection 10A was inserted by the Disclosure of Certain information for Taxation Purposes Act 1997 which provides that any regulations under subsection 10(a) of the Act, the Minister may apply to that person or body such exceptions in relation to designated bodies under the Act as the Minister considers appropriate. Subsection (11) provides the procedure for laying the regulations before each House of the Oireachtas. Subsection (12) sets out the penalties for a person who contravenes a provision of this section or who provides false or misleading information for the purposes of subsection (3), (4) or (5) of this section when required to do so. A person found guilty of an offence shall be liable; on summary conviction to a fine not exceeding E1250 or to a term of imprisonment not exceeding 12 months or both or on conviction on indictment to a fine or to imprisonment for a ter m not exceeding 5 years or both. Section 57A detailed description of the main provisions; Subsection (1) Subsection (1) empowers the Minister for Justice, Equality and Law Reform, in

consultation with the Minister for Finance, to designate any state or territorial unit within it, on the basis that he has formed the opinion that it lacks adequate anti -money laundering procedures. Subsection (2) Subsection (2) requires any relevant person or body, within the meaning of section 32 Criminal Justice Act, 199 4 to report any transaction regarding a designated state or territory to the Garda Síochána. Subsection (3) Subsection (3) places a responsibility on the supervisor of a person or body, within the meaning of section 32 Criminal Justice Act, 1994, to report to the Garda Síochána any suspicion that a transaction regarding a designated state or territory, coming within the scope of subsection (2) above, has not been reported. Subsection (4) Subsection (4) provides that the report to the Garda authorities as envisaged by subsection (2) or (3) of this section, may be made in line with an appropriate internal reporting procedure. Subsection (5) Subsection (5) provides that it will be a defence for an employee, charged with failure to submit a report required by subsections (2) or (3) of this section, to have made such report to another person as envisaged by an appropriate internal reporting procedure. Subsection (6) Subsection (6) sets out the penalty for offences under the Section. The penalty for conviction upon indictment is an unlimited fine or imprisonment for a term of up to 5 years or both. Subsection (7) Subsection (7) makes provision for a court to take into account any guidance, including supervisory or regulatory guidance applicable to that person, issued by his or her relevant regulatory or representative body. Subsection (8) Subsection (8) provides that a report made in accordance with the provisions of this section will not be deemed to be a breach of any restriction on the disclosure of confidential information and will not render the person or body liable to damages as a result. Subsection (9) Subsection (9) empowers the Minister for Justice, Equality and Law Reform, having consulted with the Minister for Finance, to amend or revoke any order under this section.

List of Primary & Secondary Legislation: Money Laundering (as of August 2005) [Note: Copies of Irish legislation can be accessed on www.irishstatutebook.ie] Primary Legislation: Criminal Justice Act 1994 (Sections 31, 32, 57) Disclosure of Certain Information for Taxation and Other Purposes Act 1996 (Section 2) Criminal Justice (Miscellaneous Provisions) Act 1997 (Sections 14, 15) Criminal Justice Act 1999 (Sections 25 28) Criminal Justice (Theft and Fraud Offences) Act 2001 (Secti o n s 2 1-2 3 ) Central Bank and Financial Services Authority of Ireland Act 2003 (Section 33AK). Criminal Justice (Terrorist Offences) Act 2005 (Sections 32 and 36) Secondary Legislation: S.I. 104 of 1995 - signed 26/4/95 Regulations under 32(10)(a) - commencement date 2/5/95 - designating the following bodies for the purposes of s. 32: (1) any person in the State who, as a principal activity, carries out one or more of the operations which are included in numbers 2 to 9 and numbers 11, 12 and 14 of the list annexed to Council Directive 89/646/EEC. (2) an investment company authorised under the European (3) a management company of a unit trust scheme authorised (4) a management company of a unit trust scheme authorised under the Unit Trusts Act, 1990 (5) an investment company authorised under Part XIII of the (6) a general partner of an investment limited partnership (7) any person who is an insurance bro ker or an insurance agent for the purposes of the Insurance Act, 1989. S.I. 105 of 1995 - signed 26/4/95 Regulations under s. 32(10)(b) - commencement date 2/5/95 - designating the acceptance of deposits and other repayable funds from the public as an activity to which s. 32(2) applies. S.I. 106 of 1995 - signed 26/4/95 Regulations under s. 32(10)(d) - commencement date 2/5/95 - designating the following countries for the purpose of s.32(6): Australia Canada The Channel Islands

Hong Kong Iceland The Isle of Man Japan New Zealand Norway Singapore Switzerland Turkey USA (Note - these countries are in addition to EU Member States designated under section 32 of the Act). S.I. 324 of 1995 - signed 4/12/95 Regulations under 32(10)(b) - c o mmencement date 11/12/95 - prescribing that the purchase or sale of units or shares of collective investment schemes authorised under EU UCITS regs, the Unit Trusts Act, 1990, Part XIII of the Companies Act, 1990, or the Investment Limited Partnerships Act, 1994 shall be activities to which s. 32(2) applies. S.I. 101 of 2002 - signed 21 March 2002 designates N A U R U as a state that does not have in place adequate procedures for the detection of money laundering pursuant to section 57A of the Criminal Justi ce Act 1994 (as inserted by Section 23 of the Criminal Justice (Theft and Fraud Offences) Act 2001 S.I. 242 of 2003 - signed 10 June 2003 (came into effect on 15 September 2003) gives effect to Directive 2001/97/EC (2 nd Money Laundering Directive) desi gnation of solicitors, accountants, auctioneers etc. S.I. 416 of 2003 - signed 11 September 2003 (came into effect on 15 September 2003) amends S.I. No. 242 of 2003 re designation of solicitors. S.I. 618 of 2003 - signed 13 November 2003 (came into effect on 14 November 2004) -designation of ARGENTINA, BRAZIL, RUSSIA, SOUTH AFRICA and MEXICO for the purpose of s.32(6):

S.I. 3 of 2004 - - signed 7 January 2004 (came into effect on 1 February 2004) gives further effect to Directive 2001/97/EC EC (2 n d Money Laundering Directive) - designated activities. S.I. 52 of 2004 - signed 5 January 2004 (came into effect on 16 February 2004) - designation of MYANMAR as a state that does not have in place adequate procedures for the detection of money laundering pursuant to section 57A of the Criminal Justice Act 1994 (as inserted by Section 23 of the Criminal Justice (Theft and Fraud Offences) Act 2001. S.I. 569 of 2004 - signed 14 September 2004 (came into effect on 6 October 2004 ) designation of L I E C H T ENSTEIN for the purposes of s.32(6) S.I. 175 of 2005 - signed 4 April 2005 (came into effect on 4 April 2005) revoked S.I. no 101 of 2002 and S.I. no. 52 of 2004 which designated Nauru and Myanmar under section 57A of the Criminal Justice (Theft and Fraud) Offences Act 2001. Activities covered under section 32(2) of the Criminal Justice Act, 1994 Operations included in numbers 2 to 12 and 14 of the list annexed to Council Directive 89/646/EEC: 1. Acceptance of deposits and other repayable funds from the public. 2. Lending, including inter alia, 3. Financial leasing consumer credit, mortgage credit, 4. Money transmission services factoring, with or without recourse financing of commercial transactions (including forfeiting) 5. Issuing and administering means of payment (e.g. credit cards, travellers' cheques and bankers drafts) 6. Guarantees and commitments 7. Trading for own account or for account of customers in: (a) money market instruments (cheques, bills, CDs etc) (b) forei gn exchange

(c) financial futures and options (d) exchange and interest rate instruments (e) transferable securities. 8. Participation in share issues and the provision of services related to such issues 9. Advice to undertakings on capital structure, industrial strategy and related questions and advice and services relating to mergers and the purchase of undertakings 10. Money Broking 11. Portfolio management and advice. 12. Safekeeping and administration of securities 13. Credit reference services 14. Safe custody services. - Activities to which Council Directive 79/267/EEC as amended applies - Direct Life Assurance - SI 105 of 1995 (signed 26/4/95) commencement date 2/5/95 - designating the acceptance of deposits and other repayable funds fro m the public as an activity to which s. 32(2) applies. - SI 324 of 1995 (signed 4/12/95) commencement date 11/12/95 - prescribing that the purchase or sale of units or shares of collective investment schemes authorised under EU UCITS regs, the Unit Trusts Act, 1990, Part XIII of the Companies Act, 1990, or the Investment Limited Partnerships Act, 1994 shall be activities to which s.32(2) applies. S.I. 3 of 2004 (signed 7/1/2004) commencement date 1/2/2004 1. Activities relating to the carrying on of the profession or trade of - (a) accountant (other than an accountant who provides a service in his or her capacity as an accountant to a person who employs him or her under a contract of service), (b) auctioneer,

(c) auditor, (d) estate agent, (e) tax adviser. 2. Activities relating to the carrying on of the profession of solicitor consisting of - (a) the provision of assistance in the planning or execution of transactions for clients concerning the - (i) buying or selling of land or business entities, ( i i ) man aging of client money, securities or other assets, (iii) opening or management of bank, savings or securities accounts, (iv) organisation of contributions necessary for the creation, operation or management of companies, or (v) creation, operation or management of trusts, companies or similar structures, or (b) the acting on behalf of and for a client in any financial transaction or transaction relating to land. 3. Activities consisting of - (a) the provision of services to a person in connection with the purchase or sale of land where payment for the land concerned is in cash and is not less than 13,000, (b) the provision of investment business services or investment advice, (c) the carrying out of trustee or custodian duties for a collective investment scheme, or (d) the provision of money remittance services. 4. Activities of administration companies consisting of the provision of services to collective investment schemes. 5. Activities of dealers in high value goods, including precious stones, precious metals and works of art where payment for the goods concerned is in cash and is not less than 15,000. 6. Activity of operating a casino.