Monitoring orders

(1) A police officer or an authorised officer of the Financial Intelligence Unit may apply, ex parte and in writing to a judge or magistrate in chambers for an order, in this section called a monitoring order, directing a reporting entity to give information to a police officer or an authorised officer of the Financial Intelligence Unit. An application under this sub- section shall be supported by an affidavit. (2) A monitoring order shall– (a) direct a to disclose information obtained by the institution about transactions conducted through an account held by a particular person with the institution; (b) not have retrospective effect; and (c) only apply for a period of a maximum of three months from the date of the making of the (3) A judge or magistrate shall not issue a monitoring order unless he is satisfied that there are reasonable grounds for suspecting that the person in respect of whose account the order is sought– (a) has committed or was involved in the commission, or is about to commit or be involved in the commission of, an offence; or (b) has benefited directly or indirectly, or is about to benefit directly or indirectly from the (4) A monitoring order shall specify– (a) the name or names in which the account is believed to be held; and (b) the class of information that the institution is required to give. (5) Where a reporting entity, which has been given notice of a monitoring order, knowingly– (a) contravenes the order; or (b) provides false or misleading information in purported compliance with the order, the reporting entity commits an offence against this section and is liable on conviction, in the case of a natural person, to a fine not exceeding five thousand dollars or to imprisonment for a term not exceeding two years or to both such fine and 94[CAP. 104 Money Laundering and Terrorism (Prevention) imprisonment; and in the case of a body corporate, to a fine not exceeding twenty thousand dollars.