All provisions · AML/CFT Act (Cap. 251) · Part Iv: Financial intelligence unit
11 Governance of FIU
(1) The Minister may—
(a) approve the Strategic Plan of the FIU, within the framework of the National Strategic Plan to combat money laundering and terrorist financing activities in consultation with the Committee;
(b) provide guidance on general policies and principles by which the FIU is to perform its functions;
(c) consider and approve human resources and other resources required by the FIU to effectively carry out its functions under this Act;
(d) ensure the efficient and economical use of resources by the FIU;
(e) participate in the selection process of the Director and Deputy Director of the FIU;
(f) make recommendations to the President on the appointment or removal of the Director or Deputy Director of the FIU.
(2) The Minister shall not interfere with the integrity and functions of the FIU, while discharging his functions under subsection (1).
(a) approve the Strategic Plan of the FIU, within the framework of the National Strategic Plan to combat money laundering and terrorist financing activities in consultation with the Committee;
(b) provide guidance on general policies and principles by which the FIU is to perform its functions;
(c) consider and approve human resources and other resources required by the FIU to effectively carry out its functions under this Act;
(d) ensure the efficient and economical use of resources by the FIU;
(e) participate in the selection process of the Director and Deputy Director of the FIU;
(f) make recommendations to the President on the appointment or removal of the Director or Deputy Director of the FIU.
(2) The Minister shall not interfere with the integrity and functions of the FIU, while discharging his functions under subsection (1).
Official source: Anti-Money Laundering and Countering the Financing of Terrorism Act (Cap. 251), Act 5 of 2020, Revised Edition as at 17 January 2025 (Acts 5 of 2020, 7 of 2021, 8 of 2021, 62 of 2021, 9 of 2022, 12 of 2024, S.I. 145 of 2020)
