Proceeds of Crime Act, 2002

53 L.R.O. 1991 Proceeds of Crime CAP. 143ss. 52-54(2) A financial institution shall maintain a register ofdocuments released under subsection (1).(3) A financial institution that contravenes subsection (1) or(2) commits an offence against this section and is liable, onsummary conviction, to a fine of $10,000.52. (1) Where a financial institution has information about anaccount held with the institution and the institution has reasonablegrounds for believing that(a) the information may be relevant to an investigation of, orthe prosecution of, a person for an offence; or(b) the information would otherwise be of assistance in theenforcement of this Act or any regulations madethereunderthe institution may give the information to a police officer or theDirector of Public Prosecutions.lial of infomationlolaw enfolcementvnbtities.(2) An action, suit or proceedings does not lie against(a) a financial institution, or(b) an officer, employee or agent of the institution acting inthe course of the person’s employment or agencyin relation to an action taken by the institution or person pursuantto subsection (1).53. Where a financial institution, or a person who is an officer,employee or agent of the institution gives the informationpursuant to section 52(l) as soon as practicable after forming thebelief referred to in that subsection, the institution shall be takenfor the purposes of sections 61 and 62 not to have been inpossession of that information at any time.Pmleclialfor financialinsti-54. For the purposes of sections 48 to 53, “financial klmprelainstitution”meanslial.(a) a bank licensed under the Banks Act;(b) a building society registered under the Building SocietiesAct;Cap. 322cap. 377.‘ME LAWS OF BARBADOSF’rinted by the Government Printing Department, Bay Street, St. Michael,by the authority of the Government of Barbados