Criminal Justice (Money Laundering and Terrorist Financing) Act 2010
Direction not to carry out business other than as directed. |
98.— (1) If the Minister reasonably believes that there may be grounds for revoking an authorisation under section 97 , the Minister may serve on the holder of the authorisation a direction in writing prohibiting the holder from carrying on business as a trust or company service provider other than in accordance with conditions specified by the Minister. | |
(2) The Minister shall include in a direction under this section a statement— | ||
(a) setting out the Minister’s reasons for giving the direction, | ||
(b) informing the holder of the authorisation concerned that— | ||
(i) the holder may appeal to an Appeal Tribunal against the direction, and | ||
(ii) if the holder proposes to appeal to an Appeal Tribunal against the direction, the holder may, within one month after being served with the direction, serve a notice of intention to appeal on the Minister in the form provided or specified by the Minister, | ||
and | ||
(c) specifying the conditions with which the holder of the authorisation is required to comply. | ||
(3) The Minister may, by notice in writing served on the holder of the authorisation concerned, amend or revoke a direction given under this section. | ||
(4) Without prejudice to the generality of subsection (3), the Minister may, by notice in writing given to the holder of the authorisation concerned, extend the period during which a direction remains in force by a further period or periods not exceeding 6 months. | ||
(5) A direction under this section takes effect from the date on which it is given or, if a later date is specified in the direction, from that date, whether or not an appeal against the direction is made under section 100 . | ||
(6) A direction under this section ceases to have effect— | ||
(a) at the end of the period, not exceeding 6 months, specified in the direction, or if the period is extended under subsection (4), at the end of the extended period, or | ||
(b) on the revocation of the holder’s authorisation under this Chapter, | ||
whichever occurs first. | ||
(7) A person who contravenes a direction given under this section, or fails to comply with a condition contained in the direction, commits an offence. | ||
(8) A person who commits an offence under this section is liable— | ||
(a) on summary conviction, to a fine not exceeding €5,000, or | ||
(b) on conviction on indictment, to a fine or imprisonment for a term not exceeding 5 years (or both). |