Money Laundering and Proceeds of Crime Act, 2008
Act 4 of 2008
- Published in Lesotho Government Gazette Extraordinary 19 on 10 April 2008
- There are multiple commencements
- [This is the version of this document as it was from 25 September 2015 to 5 February 2017.]
|Part I (section 1–10); Part II, section 11–13; Part III, section 16–17, section 19–36; Part IV (section 37–86); Part V (section 87–110); Part VI (section 111–113)||commenced on 1 April 2009 by Legal Notice 51 of 2009.|
|Part II, section 14–15||commenced on 10 June 2011 by Legal Notice 68 of 2011.|
|Part III, section 18||commenced on 1 July 2012 by Legal Notice 82 of 2012.|
- [Amended by Money Laundering and Proceeds of Crime Act 2008 (Amendment of Schedule) Notice, 2013 (Legal Notice 30 of 2013) on 28 March 2013]
- [Amended by Money Laundering and Proceeds of Crime Act 2008 (Amendment of Schedule) Notice, 2015 (Legal Notice 112 of 2015) on 25 September 2015]
Part I – Preliminary
1. Short title and commencementThis Act may be cited as the Money Laundering and Proceeds of Crime Act, 2008 and shall come into operation on a date to be fixed by the Minister by notice in the Gazette and the Minister may fix different dates for the coming into operation of different sections of this Act.
3. Charge in relation to a serious offenceAny reference in this Act to a person being charged or about to be charged with a serious offence is a reference to a procedure, however described, in Lesotho or elsewhere by which criminal proceedings may be commenced.
4. Conviction in relation to a serious offenceFor the purposes of this Act, a person shall be taken to be convicted of a serious offence if the person is convicted, whether summarily or on indictment, of the offence.
5. Quashing of convictionFor the purposes of this Act, a person's conviction for a serious offence shall be taken to be quashed in any case—
6. Value of property, etc
7. Dealing with propertyFor the purposes of this Act, dealing with property held by any person includes, without prejudice to the generality of the expression—
8. Gift covered under this ActFor the purposes of this Act—
9. Deriving a benefitA reference to a benefit derived or obtained by or otherwise accruing to a person includes a reference to a benefit derived or obtained by, or otherwise accruing to, another person at the request or direction of the first person.
10. Benefiting from the proceeds of a serious offenceFor the purposes of this Act—
Part II – The Anti-Money Laundering Authority and the Financial Intelligence Unit
11. Anti-Money Laundering Authority
12. Powers of the Authority
14. The Financial Intelligence UnitThere is established a Financial Intelligence Unit which shall be a juristic person responsible to the Minister.
15. Functions of the Unit
Part III – Money laundering
16. Accountable institution to verify customers identity
17. Accountable institution to establish and maintain customer records
18. Accountable institution to report suspicious transactions
19. Accountable institution to establish and maintain internal reporting procedures
20. Further preventive measures by an accountable institutionAn accountable institution shall establish and maintain internal reporting procedures to—
21. Attention to complex, unusual or large transactionsAn accountable institution shall pay special attention to all complex, unusual or large transactions and all unusual patterns of transactions, which have no apparent economic or visible lawful purpose.
23. Supervisors and auditors
24. Prohibition against tipping off
25. Money-laundering offences
26. Related offences
27. Extraditable offencesMoney laundering and the financing of terrorism are extraditable offences for the purposes of this Act and any other legislation dealing with extradition.
28. Seizure and detention of suspicious imports or exports of currency
29. Authority's power to obtain search warrant
30. Property tracking and monitoring ordersFor the purpose, of determining whether any property, reasonably suspected to be connected in the commission of an offence under this Act belongs to, or is in the possession or under the control of any person, the Authority may, upon application to the Court, obtain an order—
31. Orders to enforce compliance with obligations under this Part
32. Secrecy obligations overridden
33. Immunity where suspicious transaction is reportedNo action, suit or other proceedings shall lie against any accountable institution, or an officer, employee or other representative of the accountable institution acting in the ordinary course of the person’s employment or representation in relation to any action taken in good faith by that institution or person pursuant to section 18(1).
34. Immunity where official powers or duties are exercised in good faithNo suit, prosecution or other legal proceedings shall lie against a person in respect of anything done by or on behalf of that person, with due diligence and in good faith, in the exercise of any power or the performance of a function under this Act or a rule or an order made thereunder.
35. Restitution of restrained propertyWhere an investigation has begun against a person for a serious offence and, property was restrained under this Act in reaction to the offence, and any of the following occurs—
36. DamagesNothing in this Act affects the right of a person whose property has been restrained to seek the payment of damages, either actual or punitive, in cases where it is alleged that the action of the Government or the Authority involved any abuse of process.
Part IV – Confiscation
Division 1 - Confiscation and pecuniary penalty orders
37. Application for confiscation order or pecuniary penalty order
38. Procedure for application for confiscation order
39. Procedure for in rem confiscation order where person dies or absconds
Division 2 - Confiscation
40. Confiscation order on conviction
41. Effect of confiscation order on conviction
42. Voidable transfersThe Court may—
43. Protection of third parties
44. Discharge of confiscation order on appeal and quashing of conviction
45. Payment instead of a confiscation orderWhere the Court is satisfied that a confiscation order should be made in respect of the property of a person convicted of a serious offence but that the property or any part thereof or interest therein cannot be made subject to such an order and, in particular—
46. Application of procedure for enforcing finesWhere the Court orders a person to pay an amount of money under section 45, that amount of money shall be treated as if it were a fine imposed upon him or her in respect of a conviction for a serious offence, and the Court shall—
47. Confiscation where a person dies or absconds
Division 3 - Pecuniary penalty orders
48. Pecuniary penalty order on conviction
49. Rules of determining benefit and assessing value
50. Statements relating to benefit from commission of serious offences
51. Amount recovered under pecuniary penalty order
52. Variation of pecuniary penalty orderWhere—
53. Lifting the corporate veil
54. Enforcement of pecuniary penalty orderWhere the Court orders a person to pay an amount under a pecuniary penalty order the provisions of section 41 shall apply with such modifications as the Court may determine for the purpose of empowering the Court to impose a term of imprisonment on a person in default of compliance by him or her with a pecuniary penalty order.
55. Discharge of pecuniary penalty order
Division 4 - Control of property in terms of the Criminal Procedure and Evidence Act 1981
56. Powers to search for and seize tainted property
57. Search warrant in relation to tainted property
58. Search warrant may be granted by telephone
59. Record of property seized
60. Return of seized property
61. Search for and seizure of tainted property in relation to foreign offencesWhere a foreign State requests assistance to locate or seize property suspected to be tainted property in respect of an offence within its jurisdiction, the provisions of section 57 and 58 apply with necessary modification.
Division 5 - Terrorist cash and terrorist property
62. Seizure and detention of terrorist cash etc
63. Terrorist fundingA person who—
64. Dealing in terrorist property
65. Terrorist financing offence
Division 6 - Restraining orders
67. Application for restraining order
68. Restraining orders
69. Contravention of restraining order
70. Duration of restraining orderA restraining order remains in force until—
71. Review of restraining order
72. Extension of restraining order
Division 7 - Realisation of property
73. Realisation of property
74. Application of proceeds of realisation of property and other sums
75. Exercise of powers of public trustee
76. Paramouncy of this Part in insolvency or winding up
77. Winding up of company holding realisable property
Division 8 - Production orders and other information gathering powers
78. Production orders
79. Evidential value of information
80. Failure to comply with a production orderWhere a person is required by a production order to produce a document to a police officer or an authorised officer, the person commits an offence against this section if he—
81. Production orders in relation to foreign offencesWhere a foreign State requests assistance to locate or seize property suspected to be tainted property in respect of an offence within its jurisdiction, the provisions of apply section 82 with necessary modifications.
82. Power to search for and seize documents relevant to locating propertyA police officer or an authorised officer may—
83. Search warrant for location of documents relevant to locating property
84. Search warrants in relation to foreign offencesWhere a foreign State requests assistance to locate or seize property suspected to be tainted property in respect of an offence within its jurisdiction, the provisions of section 83 apply with necessary modification.
Division 9 - Monitoring orders
85. Monitoring orders
86. Monitoring orders not to be disclosed
Part V – Civil recovery of property
Division 1 - Proceedings
87. Proceedings are civil, not criminal
Division 2 - Preservation of property
88. Preservation of property orders
89. Notice of preservation of property orders
90. Duration of preservation of property ordersA preservation of property order shall expire 90 days after the date on which notice of the making of the order is published in the Gazette unless—
91. Seizure of property subject to preservation of property order
92. Appointment of curator bonis in respect of property subject to preservation of property order
93. Orders in respect of immovable property subject to preservation of property order
94. Provision of expenses
95. Maximum legal expenses that can be met from preserved property
96. Variation and rescission of orders
Division 3 - Forfeiture of property
97. Application for forfeiture orderIf a preservation of property order is in force the Authority may apply to the High Court for an order forfeiting to the Crown all or any of the property that is subject to the preservation of property order.
98. Making of a forfeiture order
99. Application to notify interested parties
100. Exclusion of interest in property
101. Forfeiture Order by default
102. Exclusion of interests in forfeited property
103. Effect of forfeiture order
104. Fulfilment of forfeiture order
Division 4 - General provisions relating to preservation and forfeiture of property
105. Offence may form the basis of multiple ordersThe fact that a preservation of property order or a forfeiture order has been made on the basis of a money laundering or terrorist funding offence under this Act in which a specific person has been involved does not prevent the making of another preservation of property orders or forfeiture orders on the basis of the same offence.
106. Application of part to deceased estates
107. Effect of death of joint owner of preserved property
108. Expedition of applications
Division 5 - Criminal Asset Recovery "Fund"
109. Establishment of Criminal Assets Recovery "Fund"The Minister shall establish a fund to be known as the Criminal Assets Recovery Fund.
110. Finances of accountThe fund shall consist of—
Part VI – Miscellaneous
111. RegulationsThe Minister may make regulations for the carrying into effect the provisions of this Act.
112. Amendment of list of accountable institutionsThe Minister may by notice in the Gazette, amend the list of accountable institutions in Schedule 1 and the list of international or regional instruments against terrorism in schedule 2.
113. General penaltyA person who fails to comply with a provision of this Act commits an offence and where no penalty is provided, shall be liable on conviction to a fine not less than M10,000.00 or to imprisonment for a period not less than 30 months and in the case of a juristic person a fine of not less than M100,000.
History of this document
30 June 2017 amendment not yet applied
06 February 2017 amendment not yet applied
25 September 2015 this version
28 March 2013
01 July 2012
10 June 2011
01 April 2009
|Money Laundering and Proceeds of Crime Regulations, 2019||Legal Notice 29 of 2019|
Cited documents 0
Documents citing this one 12
- Lephoto v Directorate of Corruption and Economic Offences (Const. No. 11/2017)  LSHC 9 (17 March 2022)
- Lephoto v Directorate on Corruption and Economic Offences (C of A (CIV) 18/2022)  LSCA 60 (11 November 2022)
- MF Petroleum (Pty) Ltd v Counter Commercial Cirme Unit (C of A (CIV) 14 of 2019)  LSCA 58 (1 November 2019)
- Mofomobe and Shale v. The Prime Minister and Others (CONSTITUTIONAL CASE 7 of 2023; CONSTITUTIONAL CASE 9 of 2023)  LSHC 125 (20 June 2023)
- Motloheloa v Commissioner of Police (CONSTITUTIONAL CASE 19 of 2017)  LSHC 31 (21 March 2019)
- R v Lejone (CRI/T 10 of 19)  LSHC 47 (29 October 2020)
- Sekoala v Directorate on Corruption & Economic Offences (C of A (CIV) 61 of 2017)  LSCA 16 (1 February 2019)
- The Curator Bonis: Estate Late Mookho Rafono-mojalefa Rafono N.O v Director of Public Prosecutions (CRI/A/0012/2022)  LSHC 129 (18 October 2022)
- The Star Décor Catering (Pty) Ltd v Counter Commercial Crime Unit (C of A (CIV) 13 of 2019)  LSCA 6 (29 May 2020)
- Tlokotsi v Director of Public Prosecutions (Const. No. 14/2019)  LSHC 169 (15 December 2022)