Proceeds of Crime Act, 2002

51 L.R.O. 1991 Proceeds of Crime CAP.143s. 50(a) for the purposes of, or in connection with, legalproceedings; or(b) in the course of proceedingsbefore a court.(4) A person referred to in subsection (1) (b) shall not berequired to disclose to any court the existence or operation of amonitoring order.(5) A person who contravenes subsection (1) or (2) commitsan offence and is liable on summary conviction to(a) a fine of $20,000 or imprisonment for a period of 3 yearsor both, in the case of a natural person; or(b) a fine of $100,000, in the case of a body corporate.(6) A reference in this section to disclosing the existence oroperation of a monitoring order to a person includes a reference todisclosing information to the person from which that person couldreasonably be expected to infer the existence or operation of themonitoring order.Obligations of Financial Institutions50. (1) Subject to this section, and to section 51, a financial Retentioninstitution shall retain, in its original form for the minimum z:~;”retention period applicable to the document, cial instimiens.(u) a document that relates to a financial transaction carriedout by the institution in its capacity as a financialinstitution and, without limiting the generality of this,includes a document that relates to(i) the opening or closing by a person of an accountwith the institution;(ii) the operation by a person of an account with theinstitution;(iii)the opening or use by a person of a deposit box heldby the institution;(iv) the telegraphic or electronic transfer of funds by theinstitution on behalf of a person to another person;(v) the transmission of funds between Barbados and aforeign country or between foreign countries onbehalf of a person; orTHE LAWS OF BARBADOSPrinted by the Government Ptiting Department, Bay Street. St. Michael,by the authority of the Government of Barbados