Concealing or transferring proceeds of criminal conduct

(1) A person commits an offence if he– (a) conceals or disguises any property which is, or in whole or in part directly or indirectly represents, his proceeds of criminal conduct; or 68 (b) converts or transfers that property or removes it from the jurisdiction, for the purpose of avoiding prosecution for a drug trafficking offence or the making or enforcement in his case of a forfeiture (2) A person commits an offence if, knowing or having reasonable grounds to suspect that any property is, or in whole or in part directly or indirectly represents, another person’s proceeds of criminal conduct, he– (a) conceals or disguises that property; or (b) converts or transfers that property or removes it from the jurisdiction, for the purpose of assisting any person to avoid prosecution for a drug trafficking offence or the making or enforcement in his case of a forfeiture order. (3) In sub-sections (1) and (2), the references to concealing or disguising any property include references to concealing or disguising its nature, source, location, disposition, movement or ownership or any rights with respect to it. (4) A person who commits an offence under this section is (a) on summary conviction, to imprisonment for a term not exceeding two years or a fine not exceeding twenty thousand dollars, or to both fine and term of imprisonment; or (b) on conviction on indictment, to imprisonment for a term not exceeding ten years or a fine not exceeding fifty thousand dollars, or to both fine and term of imprisonment. 69 (5) In this section, “criminal conduct” means conduct which constitutes an offence under this Act.