Section 35, Terrorism Act, 2012

(1) A reporting entity shall appoint a compliance officerwho shall be responsible for ensuring the reporting entity's compliance with the requirements of this Act. (2) The compliance officer shall– (a) be a senior officer with relevant qualifications and experience to enable him respond sufficiently well to enquiries relating to the reporting entity and the conduct of its business; (b) be responsible for establishing and maintaining such manual of compliance procedures in relation to its business as the supervisory authority or the Unit may from time to time require; (c) be responsible for ensuring compliance by staff of the reporting entity with this Act and any other enactment relating to money laundering or financing of terrorism and the provisions of any manual of compliance procedures established under this section; (d) act as the liaison between the reporting entity, the supervisory authority and the Unit in matters relating to compliance with this Act and any other enactment or directive with respect to money laundering or financing of terrorism; (e) establish and maintain procedures and systems to– (i) implement the customer identification requirements under this Part; Other preventive measures. 44 45 (ii) implement record keeping and retention requirements under this Part; (iii) implement the reporting requirements under this Part; (iv) make its officers and employees aware of the enactments relating to money laundering and financing of terrorism; (v) make its officers and employees aware of the procedures, policies and audit systems adopted by it to deter money laundering and financing of terrorism; (vi) screen persons before hiring them as employees; and (f) train its officers, employees and agents to recognize suspicious transactions, trends in money laundering and financing of terrorism activities and money laundering and financing of terrorism risks within the reporting entity's products, services and operations; and (g) establish an audit function to test its antimoney laundering and financing of terrorism procedures and systems. (3) The compliance officer shall have ready access to all books, records and employees of the reporting entity necessary to fulfill his responsibilities. (4) Subsection (1) does not apply to an individual who, in the course of carrying on his business, does not employ or act in association with any other person.