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1
VIRGIN ISLANDS

ANTI-MONEY LAUNDERING REGULATIONS, 2008

ARRANGEMENT OF REGULATIONS

Regulation

1.
Citation and commencement.
2. Interpretation.
3. General requirements.
4. Identification procedures in relati on to new and continuing business
relationships.
5. Establishing and maintaining verification procedures.
6. Exceptions to identification procedures.
7. Identification procedures in re lation to introduced business.
8. Establishing and maintaining reco rd of verification of identity.
9. Maintaining record of transactions and reports.
10. Limitation period for retention of records.
11. Format and retrieval of records.
12. Maintaining register of money laundering reports and inquiries.
13. Duty to appoint Money Laundering Reporting Officer.
14. Due diligence audit.
15. Establishment of procedures in re lation to suspicious transactions.
16. Staff training.
17. Offences and penalties.

VIRGIN IS LANDS

STAT UTO RY INS TRUMENT 20 08 NO. 12

PROCEEDS OF CRI MINAL CONDUCT ACT, 1997
(No. 5 of 1997)

Anti-money Laundering Regulations, 2008

The Cabinet, in ex ercise of the pow er c onferred by section 41 of the Proceeds of
Crim inal Conduct Act, 1997 (No. 5 of 1997) and with the advice of the Financial
Services Commission, m akes these Regulations.

1. These Regulations m ay be cited as the Anti-m oney Laundering Citatio n and
commencem ent. Regulations, 2008.

2. (1) In these Regulations, u nless th e co ntext o therw ise requ ires, Interpretatio n.

“Agency” m eans the Financial Investiga tion A gency established under section 3
of the Financial Inves tigation Agency Act, 2003;
No. 19 of 20 03

“applicant f or busines s” m eans a person seek ing to form a business relationship or
carry out a one-off trans action with a relevant pe rson who is carrying on
relev ant bus iness in o r from within th e Virgin I slands;

“business relationship” m eans an arrangem ent between a relevant person and one
or m ore parties, where

(a) the relevant person has obta ined satis factory evid ence of
identity of the party who, in relation to the formation of that
business relationsh ip, was the app lic ant f or busin ess;

(b) the relevant person engages in business with the other party
on a frequent, habitual or regular basis; and

(c) the m onetary value of dealings in the course of the
arrangem ent is not known or capable of being known at
entry ;

“CFATF” means th e Caribbean Fin ancial Action Task Force of which th e Virgin
Islands is a m ember;

2

3
“cash” includes coins and any type of bearer negotiable or other monetary
instrument and any postal orders;

“Code” means the Anti-money Laundering
and Terrorist Financing Code of
Practice, 2008;

“Commission” means the Financial Se rvices Commission established under
section 3 (1) of the Financia l Services Commission Act, 2001;

“foreign regulatory authority” means an authority in a jurisdiction outside the
Virgin Islands which exercises in that jurisdiction supervisory functions that
substantially correspond to the superv isory functions of the Commission;

“foreign regulated person” means a person that

(a) is incorporated, registered, licensed or formed, or if it is not
a body corporate, has its principal place of business, in a
jurisdiction outside the Virgin Islands;

(b) carries on business outside the Virgin Islands that, if carried
on within the Virgin Islands, would fall with in a category
of business specified in paragraphs (a) to (e) of the
definition of “relevant business”; and

(c) in respect of the business referred to in paragraph (b),

(i) is subject to legal requirements in its
jurisdiction for the detection and
prevention of money laundering that
are consistent with the requirements
of the CFATF Recommendations or
FATF Recommendations in relation
to that business; and

(ii) is properly and adequately
supervised for compliance with those
legal requirements by a foreign
regulatory authority;

“Money Laundering Reporting Officer” means the person
appointed under regulation 13 (1) by a relevant
person;

“one-off transaction” means a trans action th at constitute s
relevant business and w hich is carried out other than
in the course of an established business relationship;

“regulated person” m eans a person who is licensed or
registered to carry on a relevant business;

“relevant bu siness” m eans

(a) banking business or trust business within th e
No. 9 of 199 0 meaning of the Banks and Trust Companies
Act, 1990;

(b) insurance business within the m eaning of the
No. 15 of 19 94 Insurance Act, 1994;

(c) the business of company m anagem ent
within th e meaning of th e Com pany
Managem ent Act, 1990; No . 8 of 1 990

(d) business as a m utual fund or providing
services as m anager or adm inistrator of a
mutual fund within the meaning of the
Mutual Funds Act, 1996;

No . 6 of 1 996
(e) without prejudice to para graphs (a) and (c),
the business of acting as a trust or com pany
servic e prov ider f or th e purpose of providing
any of the f ollowing servic es to a third
party:

(i) acting as a form ation a gent of lega l
persons;

(ii) acting (or arranging for another
person to act) as a director or
secretary of a com pany, a partner of
a partnership, or a si milar position in
relation to other legal persons;

(iii) providing a registered office,
business address or accomm odation,
correspondence or adm inistrative
address for a com pany, partnership
or any other legal person or
arrang em ent;

4

(iv) acting (or arranging for another
person to act) as a trustee of a trust;

(v) acting (or arranging for another
person to act) as a nom inee
shareholder for another person;

(f) the bus iness of providin g rem ittance serv ice
of Telegraphic Money Order under the Post
Office (Telegraph Money Order) Rules,
1934 or m oney order under the Post Office
Rules, 1976;

S.I . No . 14 of
1934

S.I . No . 24 of
1976
(g) the business of providing m oney
transm ission services or cheque encashm ent,
whether p ursuant to an enactm ent or
otherwise;

(h) the business of

(i) providing advice on capital structure,
industrial strate gy and related
matters, and advice and services
relating to m ergers and the purchase
of undertakings;

(ii) money broking;

(iii) the safe keeping and adm inistration
of securities; or

(iv) lending or financial leasing;

(i) the provision of servi ces to clients by legal
practitioners, notaries p ublic or accountants
which involve transactions concerning any
of the f ollowing activ ities:

(i) buying and selling of real estate;

(ii) managing of client m oney, securities
or other assets;

5

(iii) manage ment of bank, savings or
securities accounts;

(iv) organization of contributions for the
creation, operation or m anage ment
of com panies; and

(v) creation, operation or m anage ment
of legal persons or arrangem ents, or
buying and selling of business
entities ;

(j) the business of acting as a real estate agent
when engaged in a transaction for a clien t
concerning the buying and selling of real
esta te;

(k) the business of dealing in precious m etals or
precious stones when such transaction
involves accepting a cash paym ent of fifteen
thousand dollars or m ore or the equivalent in
any other currency;

(l) the business of operating a casino (where
perm itted by law) when a tr ansaction
involves accepting a cash paym ent of three
thousand dollars or m ore or the equivalent in
any other currency;

“relevant p erson” m eans a p erson carrying on relevant
business; and

“Steering Comm ittee” m eans the Steering Committee of
the Financial Investigation Agen cy established
under section 3 (3) of the F
inancial Investigation No. 19 of 200 3
Agency Act, 2003.

(2) Subsection (1) (i) does not apply to legal
practitioners, notaries public or accountants who are em ployed by the
Governm ent or any statutory body.

(3) For the purposes of subsection (1 ) (k ) and (l), a transaction
of or above the threshold designated in that subsection shall be construed to
include situ ations wher e the transa ction is ca rried ou t in a si ngle operation or in
several operations that appear to be linked.

6

(4) For the purposes of these Regulations,

(a) a business relationship f orm ed by a relevant
person is an established business
rela tionsh ip where tha t person has obtained
satisf actory evidence of the iden tity of the
person who, in relation to the formation of
that bus ines s relation ship, was the a pplican t
for business;

(b) the question as to what constitu tes
satisf actory evidenc e of identity shall be
determ ined in accordance with the
provisions of the Code;

(c) a staff is a key staff if he is part of the
manage ment team of the relevant person or
if, at any tim e in the course of his duties, he
has, or m ay have, access to any inform ation
which m ay be relevant in determ ining
whether a person is engaged in m oney
laundering.

3. (1) In conducting relevant busine ss, a relevant person shall not
for m a business relationship or carry out a one-off transaction with or for another
person unless the relevant person
Gene ral
requirem ents.

(a) maintains

(i) identification procedures in
accordan ce with regulations 4, 5 an d
7;

(ii) record keeping procedures in
accordan ce with regu lations 8 to 11;

(iii) internal reporting procedures in
accordan ce with regu lation 15; and

(iv) internal con trols and co mmunicatio n
procedures which are appropriate for
the purposes of forestalling and
preventing money laundering;

(b) takes app ropriate m easures from tim e to
tim e for the purpose of m aking e mployees
aware of

7

(i) the procedures m aintained under
paragraph (a) and any related
procedures provided in the Code;
and

(ii) the provisions of the Proceeds of
Crim inal Conduct Act, 1997, the
Code, these Regul ations and any
direc tive is sued pursu ant to any
enactm ent; and

No . 5 of 1 997
(c) provides training for employees to assist
them

(i) in the reco gnition and handling o f
transactions carried out by, or on
behalf of, any person who is, or
appears to be, engaged in m oney
laundering; and

(iii) in dealing with custom ers where
such transactions have been reported
to the Stee ring Committee or the
Agency in accord ance with th e
provision s of the Proceeds of
Crim inal Conduct Act, 1997.

(2) The procedures, m easures and training requirem ents
outlin ed in sub-regulation (1) sha ll be construed to inc lude any sim ilar or
additional procedures, m easures and training requirem ents provided under the
Code.

(3) A relevant person shall s ubm it for the approval of the
Agency the identification procedu res, record keeping procedures, intern al
reporting procedures and internal c ontrols and communication procedures
required to be m aintained under sub-regul ation (1) (a) and the Agency m ay keep,
for its own use, copies of such documents.

4. (1) A relevan t person shall es tablish an d m aintain
identification procedures which, as soon as reasonably practicable after contact is
first m ade between that person and an applicant for business concerning any
particular business relationship or one-off transaction require
Identificatio n
proce dures i n
rel ation t o new
and con tinu ing
busi ness
rel ations hips.
(a) the production by the applicant for business,
satisf actory evidence of his iden tity; or

8

9
(b) the taking by the relevant person of such
measures as are specified in the
identification procedures as will produce
satisfactory evidence of the identity of the
applicant for business.

(2) The identification procedures established pursuant to sub-
regulation (1) shall also

(a) require that where satisfactory evidence of identity is not obtained by the relevant
person, the business relationship or one-off
transaction shall not proceed any further
until such evidence is obtained, unless and
to the extent that the Agency advises
otherwise;

(b) require that where the business relationship
or one-off transaction su bsists, the applicant
for business appears to be acting for a third
party in respect of that business relationship,
the satisfactory evidence of the identity of
the third party will be obtained, failing
which the business relationship will be
terminated;

(c) include the full name (including any other names and aliases) and physical address of
the applicant for business and, where he is
acting for a third party, the full name
(including any other names and aliases) and
physical address of the third party;

(d) provide for the assessment by the relevant person of the risk that any business
relationship or one-off transaction may
involve money laundering and shall be
appropriate to the ci rcumstances, having
regard to the degree of risk assessed; and

(e) take into account, without limiting paragraph (d), the greater risk of money
laundering which arises when the applicant
for business is not engaged in a face-to-face
relationship or transaction as to be
identified.

(3) For the purposes of this regulation, but without prejudice to
regula tion 2 (4) (b), satisfac tory evidenc e of identity is evid ence which is
reasonab ly capable of esta blish ing, and to the sati sfaction of the person who
obtains the evidence, does establis h, that the a pplican t f or business is the person
he claim s to be.

5. (1) A relevant person shall esta blish and m aintain procedures
which, in respect of transactions undertak en after a business relationship has been
estab lished in com pliance with regulation 4, require
Estab lish ing
and m aintain ing
verificatio n
proce dures.
(a) the satisfactory veri fication of evidence of
identity produced pur su ant to regulation 4
(1) (a ), or

(b) the taking o f such m easures as are s pecified
in the p rocedures as will produce
satisfactory verification of evidence of
identity produced under regulation 4 (1) (b),

as soon as reasonably practicable af ter transactions are undertaken.

(2) The procedures established pursuant to sub-regulation (1)
shall also require that when satisfactory ve rification of evidence of identity is not
obtained or produced, th e business relations hip and transactions shall not proceed
any further.

(3) The provisions of the Code with respect to the verification
of evidence of identity s hall app ly f or the purpo ses of these Regulation s.

6. (1) A person carrying on relevant business is not requ ired to Exce ptions to
identificatio n
proce dures. obtain evid ence of the identity of an applicant for business where he has
reasonable grounds for believing that the applicant for business is

(a) a regulated person;

(b) a foreign reg ulated perso n; or

(c) a legal practitioner or an accountant who
belongs to a professional body whose rules
of conduct or practice em body legal
requirem ents for the detection and
prevention of money laundering that are
consistent with the requirem ents of the
CFATF Recommendations or FATF
Recommendations and th e lega l pra ctitione r
or accountant is supervised by his

10

professional body for compliance with those
requirem ents.

(2) The exception provided in sub-regulation (1) does not
apply where the person handling the transa ction on behalf of the person carrying
on relevant business to whom the appl ication for business is m ade knows or
suspects that the applicant is engaged in m oney laundering.

(3) A person carrying on relevant busin ess is, in relation to a
one-off transaction, not require d to obtain evidence of the identity of an applicant
for business where the amount to be paid by or to the applicant for busi
ness is less
than ten thousand dollars or the equiva lent am ount in another currency, unless

(a) the person carrying on the relevant business
has reasonable grounds for believing
(whether at the beginni ng or subsequently),
that

(i) the transaction is linked to one or
more other transactions; and

(ii) the total am ount to be paid by or to
the applican t f or busine ss in r espec t
of all the linked transa ctions is te n
thousand dollars or m ore; or

(b) any person handling the transaction on
behalf of the person carrying on relevant
business k nows or suspects that the
transaction involves m oney laundering.

7. (1) A relevant person that relies on introduction of an applicant Identificatio n
proce dures i n
relatio n to
introdu ced
busi ness.
for business from a third part y (in this regulation referre d to as “the in trodu cer” )
shall establish and mainta in identification proce dures which, as soon as
reasonab ly practicab le after con tact is fi rst m ade between the relevant person and
the introducer, require

(a) the production by the introducer of
satisf actory evidence of the iden tity of the
applicant for business; or

(b) the taking o f such m easures as are s pecified
in the ide ntif ica tion procedur es as will
produce satisfactory evidence of the identity
of the applic ant f or busin ess.

(2) Subject to sub-regulation (5 ), identif ication procedures

11

estab lished and m aintained pursuan t to sub-regulation (1) shall not apply where
the relevant person has reasona ble grounds for believing that

(a) the introdu cer is a p erson spec ified in
regulation 6 (1), or

(b) the relevant person and the applicant for
business are bodies corporate in the same
group,

unless the person handling the transaction on behalf of the person carrying on
relevant business knows or suspects that the transact ion involves m oney
laundering.

(3) In sub-regulation (2) (b), the term “group”, in relation to a
body corporate, m eans that body corporate, any other body corporate which is its
holding company or subsidiary and any other body corporate which is a
subsidiary of that holding com pany, a nd “subsidiary” and “holding com pany”
shall be construed in accordance with section 2 (2) to (6) of the Ba
nks and Trust
Com panies Act, 1990. No . 9 of 1 990

(4) Subject to sub-regulation (5), a written assuran ce from the
introdu cer that evid ence of the id entity of the app lican t for bu siness

(a) has been obtained and recorded in
accordan ce with iden tification procedures
maintained by the intro ducer which com ply
with these Regulations and the Code or
which com ply with m easures equiv alent to
these Regulations and the Code, and

(b) will be su pplied to the relevant person
forthwith upon request,

may be accepted by th e person carrying on th e relevant b usiness con cerned as
satisf actory evidence of the iden tity of the applic ant f or busin ess.

(5) Nothing contained in this regula tion lim its the du ty
of the person carrying on relevant busin ess f rom satisfying him self that, in
rela tion to an applican t f or busin ess, th e in troducer has com plied with sub-
regulation (4).

12

8. Where a relevant person is requ ired under these Regulations to Estab lish ing
and
main tain ing
record
of ve rificat ion
of id entity.

verify the identity of a pe rson, the relevant person shal l establish and m aintain a
record in the Virgin Is lan ds which

(a) indica tes the nature of th e evidenc e
obtained; an
d
(b) com prises a copy of the evidence or, where
this is not reasonably practicab le, contains
such information as would enable a copy of
the evidence to be obtained.

9. Where a relevant person is requ ired under these Regulations to

13
verify the identity of a person, the relevant person shall m aintain a record of

(a) all transactions carried out by or on behalf of
that person (such as records sufficient to
identify the source and recipient of
paym ents f rom which in vestig ating
author ities will be able to com pile an audit
trail for suspected m oney laundering); and
Main tain ing
record
of transact ions
and r epo rts.

(b) all reports m ade by it to the Agency and all
inquiries relating to m oney laundering
received by it from the Agency.

10. (1) A relevant person shall m aintain the records required under Limita tio n
peri od
for retentio n
of rec ords.

regulations 7, 8 and 9 for a period of at least five years from the date

(a) when all transacti ons relating to a one-off
transaction or a series of linked transactions
were com pleted;

(b) when the business r elationship was f orm ally
ended; or

(c) where the business relationship was not
form ally ended, when the las t tr ansaction
was carried out.

(2) Where a report has been m ade to the Anti-m oney
Laundering Reporting Officer appointed under regulation 13 or the relevant
person knows or believes that a m atter is under investigation, that person shall,
without prejudice to su b-regulation (1) or the requirem ents of the Code relating to
the retention of records, retain all releva nt records for as long as m ay be r equired
by the Agency.

(3) For the purposes of this regulation, the question as to what
records m ay be relevant in the investigation process may be determ ined in
accordan ce with the p rovisions of th e Code.

11. (1) A relevant person shall ensure that any records required to
be m aintained pursuant to these Regulat ions are capable of retrieval without
undue delay and in the m anne r provided in the Code.
Form at and
retriev al o f
records.

(2) A relevant person m ay rely on the records of a third party
in respe ct of the details of paym ents a nd transactions by custom ers, provided that
it is satisfied that the third party is willing an d able to retain and, if asked, to
produce in the m anner provided in the C ode, copies of the records required.

12. (1) A relevant person shall m aintain a register of

Main tain ing
register of money
laun deri ng
rep orts a nd
inqu iries.
(a) all reports made by it to the Agency; and

(b) all inquiries relating to money laundering m ade of it
by the Agency.

(2) The registe r m aintained pursu ant to sub-regulation (1) shall
be kept separate from other reco rds and shall contain as a m inim um

(a) the date and nature of the report or inquiry;

(b) the nam e and agency of the inquiring
offi cer;

(c) the powers being exercised and pursuant to w hat
author ity; an d

(d) details of the accounts or transactions involved.

Du ty to ap poin t
Money
Launderi ng
Rep ortin g
Officer.
13. (1) A relevant person shall a ppoint from within its staff a
Money Laundering Reporting Officer who shall be a person with sufficient
seniority within the relevant person.

(2) In order to be appointed as a Money Laundering Reporting Officer, a person shall possess the f ollowing qualif ications:

(a) he m ust at the m inimum hold a diplom a with a post
qualification experience of not less than three years;

(b) he m ust be fit and proper;

14

(c) he m ust have a broad knowledge of anti-m oney
laundering and terrorist fina ncing m atters, including
the re levan t reg ional and inte rna tiona l treaties
(including United Nations Resolutions) relatin g to
the com bating of m one y laundering and terrorist
financing;

(d) he m ust have a good a ppreciation and
understanding of Virgin Is lands laws relating to
money laundering and terro rist financing; and

(e) he m ust pos sess the ability to m ake i ndependent and
analytical d ecis ions and not be eas ily susceptible to
undue influence.
No . 5 of 1 997 (3) A Money Laundering Reporti ng Officer shall be
responsible for ensuring com pliance by staff of t he relevant person with

(a) the provisions of these Regulations,
Proceeds of Crim inal Conduct Act, 1997,
the Code and any other enactm ent relating to
money laundering and te rrorist financing;

(b) the provisions of any internal reporting and
manual of c ompliance procedures relating to
money laundering and terrorist financing;
and

(c) any additional reporting and related
obligations provided in the Code.

(4) The Money Laundering Reporting O fficer shall, in addition
to the functions reposed in him by these Regulations and the Code, act as the
lia ison between the relevan t per son and the Agency in m atters r elating to
com pliance with the provisions of these Regu lations, the Proceeds of Crim inal
Conduct Act, 1997, the Code and any other enactm ent relating to m one y
laundering and terrorist financing.

14. (1) W ithout prejudice to regulat ion 13 or any other enactm ent
relating to the conduct of in spections to verify com pliance, the Agency or a
person designated by the Agency in writing m ay conduct an inspection of a
relev ant pe rson to de ter mine com pliance by that person with the requirem ents of
these Regulations, Proceeds of Crim inal Conduct Act, 1997, the Code and any
other enactm ent or directive relating to m oney laundering.
Du e d ilig ence
audit.

No . 5 of 1 997

(2) The Agency m ay, for purposes of these Regulations and

15

the Code, is sue such directiv es as it cons iders necessary and th e directives, when
issued, shall, unless consid ered b y the Agency to be of a restricted and
conf identia l nature, b e published in the Gazette .

15. A relevant person shall establ ish written internal reporting
procedur es which, in re lation to its r elevan t business, will

Estab lish ment o f
proce dures i n
relatio n to
suspicio us
tran saction s. (a) enable its d irecto rs, or as the cas e may be,
partners, all other pe rsons involved in its
manage ment, and all key staff, to know to
whom they should report knowledge or
suspicion of money laundering;

(b) ensure that there is a clear reportin g chain
under which suspicions of m oney la undering
will be pas sed to the Money Launderin g
Reporting O fficer;

(c) ensure that the Money Laundering
Reporting Officer has reasonab le access to
all relevant inform ation which may be of
assis tance to him and which is av ailab le to
the relevant person; and

(d) ensure fu ll com pliance with the
requirem ents of the Code.

16. (1) A relevant person shall pr ovide education and training for
all of its directors or, as the case m ay be, partners, all other persons involved in its
managem ent, and all k ey staff, to ensure that they are aware o f
Staff t rainin g.

(a) the provisions of these Regulations, No . 5 of 1 997 Proceeds of Crim inal Conduct Act, 1997,
the Code and any other enactm ent relating to
money laundering and te rrorist financing;

(b) the relevant regional and international
conventions, United Nations Security
Council Resolutions and standards of
com pliance estab lished from tim e to tim e by
the CFATF, FATF and other organizations
of which the Virgin Islands is a m ember or
in which the Virgin Islands holds associate
or observer status, relating to m one y
laundering and terrorist financing;

16

(c) their personal and the relevant person’s
obligations under th e enactm ents and
instrum ents referred to in paragraph s (a) and
(b);

(d) the m anual of com pliance procedures or
internal control system s and other
requir ements estab lish ed pursuant to thes e
Regulation s and the Cod e;

(e) their perso nal liability for failure to re port
inform ation or suspicio ns in accordance with the
requirem ents of these Regulations, the Code and
any other enactm ent, incl uding any established
internal procedures.

(2) A relevant person shall, in addition, provide training

(a) to all of the persons re ferred to in sub-regulation
(1) with respect to

(i) ensuring compliance with regulation 3
(1) (c );

(ii) its policies and procedures to detect
and prevent m oney l aundering and
terrorist financing; and

(iii) its customer identification, record
keeping and other procedures; and

(b) in accord an ce with the requirem ents of this
regulation and the Code to all new key staff
as soon as practicab le after th eir
appointm ent.

(3) A relevant person shall provi de the training requirem ents
referred to in sub-regulations (1) and (2 ) on such frequent b asis a s it m ay
determ ine, but in any case at least once every year.

17. (1) A person who fails to com ply with the requirem ents of
these Regulations or an y directive issued pursuant to regulation 14 (2), comm its
an offence.
Offences an d
penalties.

(2) A person who comm its a n offence under sub-regulation (1)
is liable,

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(a) on summ ary conviction, to a fi ne not
exceeding five thousand dollars; and

(b) on conviction on indictm ent, to a fine not
exceeding fifteen thousand dollars.

(3) In proceedings against a person for an offence under these
Regulations, it shall be a defence for the person to prove that he took
all
reasonab le s teps and exe rcised due d ilig ence to c omply with the requ irements of
these Regulations o r an y directive issued pursuant to regulation 14 (2) in respect
of which he is charged.

(4) Where an offence under these Regulations has been
comm itted by a body corporate, s ection 22 (2) of the Interpretation Act shall
apply, exc ept tha t th e words “the liability of whose m embers is lim ited ” shall be
om itted.
Cap. 1 36

(5) Where the affairs of a body corporate are m anaged
by its m embers, sub-regulation (3) applies in relation to the acts and defaults of a
member in connection with his functions of m anagem ent as if he were a directo r
of the body corporate.

(6) Where an offence under these Regulations is co mmitted by
a partnership, or by an unincorporated a ssociation other than a partnership, is
proved to have been comm itted with th e consent or conni vance of, or is
attributable to the failure to exercise due dilig ence by, a partn er in the partnersh ip
or, as the case m ay be, a person concerne d in the m anage ment or control of the
association, he, as well as the partnershi p or association, comm it that offe nce and
is liable to b e proceed ed ag ainst and punished according ly.

Made by the Cabinet this 20 th day of February, 2008.

(Sgd.) OTTO O’NEAL,
Cabinet Secretary.

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