← belizelaw.ai · Money Laundering And Terrorism, Cap. 104 · PART V — Miscellaneous

Credit to frozen account

Cap. 104, s. 77A · Revised Edition 2020

(1) Nothing in section 12 or 70, a restraining order issued under section 40 or a notice issued under section 76A shall prevent a person from crediting a frozen account with– (a) interest or other earnings due on the account; or (b) payments due under contracts, agreements or obligations that were concluded or arose before the account became a frozen account. (2) Nothing in section 12 or 70, a restraining order under section 40 or a notice under section 76A shall prevent a reporting entity from crediting a frozen account where it receives funds transferred to the account. (3) For the purposes of this section, “frozen account” means an account held with any person, including a reporting entity that has been frozen or restrained in accordance with this Act. National Anti-

Amended by: 7 of 2014

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