Section 4
of Criminal Asset Recovery Order, 2012
Section 4
(1)
No person shall open, operate or authorise the opening of the operation of an account with a person carrying on any relevant business in a false, fictitious, anonymous or incorrect name.
(2)
Where a person is commonly known by 2 or more different names, he shall not use one of those names in opening an account with a person carrying on any relevant business unless he has previously disclosed the other name or names to that person.
(3)
Where a person using a particular name in his dealings with a person carrying on any business discloses to him a different name or names by which he is commonly known, the person carrying on any relevant business shall make a record of the disclosure and shall, upon request in writing from a supervisory authority, give the supervisory authority a copy of that record.
Incorporating amendments until S 22/2017
(Cleancopy) NHN/Amiriah/Bb/Karimah as of 26.12.2019
*Note: amendment on page 7,75,81,123 on 11.01.2020
21
BLUV as at 11th March 2017
(4)
For the purposes of this section –
(a)
a person opens an account in a false, fictitious, anonymous or incorrect name if he, in opening the account, or becoming a signatory to the account, uses a name other than a name by which he is commonly known;
(b)
a person operates an account in a false, fictitious, anonymous or incorrect name if he does any act or thing in relation to the account (whether by way of making a deposit or withdrawal or by way of communication with a person carrying on any relevant business or otherwise) and, in doing so, uses a name other than a name by which he is commonly known; and
(c)
an account is in a false, fictitious, anonymous or incorrect name if it was opened in a false, fictitious, anonymous or incorrect name, whether before or after the commencement of this Order.
(5)
Any person who contravenes this section is guilty of an offence and liable on conviction to a fine not exceeding $1,000,000, imprisonment for a term not exceeding one year or both.
Identification requirements.