Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1694265430048.pdf (Marshall Islands)
Currency Declaration (Amendment) Act, 2020 BILL No:36p .t.2020- 2{ hOex NIT{}ELA OF TF{E R.EI'UBI,IC OF THE MARSHAI,L IST-ANDS 4TST CONSTITUTION REG{.ILAR SESSION, 2O2O Republic of the Marshall Islands Jepilpilin Ke Ejukaan CURRENCY DECLARATION (AMENDMENT) ACT, 2O2O Index Section s101.

s102.

s103.

ffi$,?#f;lri,liH, Pagel Currency Declaration (Amendment) Act, 2020 BILL No:36P.
1.2020-_:r.{ Sl 01 NITI}EI,A OF THE REPUBI,IC OF TFIE MARSF{ALI.ISLANDS 41ST CONSTITUTION REGULAR SESSION, 2O2O Republic of the Marshall Islands lepilpilin Ke Ejulcaan CURRENCY DECLAR.ATION (AMENDMENT} ACT, 2O2A AN ACT to amend Title 17, Chapter 2 of the Marshall Islands Revised Code to clarify certain provisions of the Chapter in line with international standards for anti- money laundering and countering of terrorism, BE IT ENACTED tsY THE NITIJELA OF TFIE REPUBLIC OF TFIE MARSFIALL TSLANDS 5101.
Short Title.

This Act may be cited as the Currency Declaration (Amendment) Act,2020.

S102.

Arnendments.

O Section 203(3) of the Republic of the Marshall Islands Currency Declaration Act, 2009 is hereby amended as follows: 5203.
Obligation to declare" (3) Any person failing to declare currency in the prescribed sum to an authorized officer, and any person making a false declaration to an authorized officer, shall commit an offence under this Chapter and sha1l be liable on conviction to a fine not exceeding $50,000 and or forfeiture of the currency under section 210. ffi Republic of the '.Wi IVldrshall Islands Page3 BILL No:36P.1.2020- i5 5203 Currency Declaration (Amendment) Act, 2020 (2) section 204 0f the Republic of the Marshall Islands Currency Declaration Act, 2009 is hereby nmended as follows: S204.
Power of an authorized officer to question.

(1) An authorized officer may question a person entering into or departing from the Republic of the Marshall Islands or transmitting currency out of or receiving currency into the Republic under section 203(2) on the source, ownership, acquisition, use, or intended destination of any currency in that person's possession or custody that is in excess of $10,000 or more.
(2) A person who, without reasonable excuse on being questioned by an authorized officer, fails or refuses to answer any question put to that person by the authorized officer, or who knowingly makes false or misleading statements to the authorized officer, commits an offence and shall be liable on conviction to a fine note exceeding $5,000.

(3) Section 206(L) of the Republic of the N4arshal1 Islands Currency Declaration Act, 2009 is hereby amended as follorus: 5206.
Seizure o{ currency" (1) An authorized officer may seize currency where there is a false declaration or where he or she has reasonable ground for suspecting that the currency is, in whole or in apart: (a) recoverable currency; (b) intended for use by a person in unlawful conduc| or (c) undeclared currency, intended for use in unlawful conduct.

@) Section 217 ,f the Republic of the Marshall Islands Currency Declaration Act, 2009 is hereby nmended as follozus: S2lT.Retention of Records.
(1) The Chief of the Customs Division shali cause to be maintained and retained for a period of at least five (5) years, any and all records or other information required to be kept, including but not limited to: (a) declarations of currency amounting to 910,000 or more, as referred to under section 203 of this AcU Page4 Reoublic of the d.r*4ii Mirshall Islandsffij Currency Declaration (Amendment) Act, 2020 BILL No:36P.1.2020- at 5103 (b) the amount of currency otherwise detected; and (c) the identification data of the currency holder(s).
(2) Information shall be retained where: (a) a declaration is made of currency amounting to 910,000 or more under section 203 of this Ac| (b) there is a false declaration; or (c) there is a suspicion of money laundering or terrorist financing.

5103" Effective Date.

This Bill, and all Acts contained herein, shall take effect in accordance with the Constitution and the Rules of procedures of the Nitijela.

CERT'IFXCATE hereby certify: I 77.


That Nitijela Bill No: 36 was passe$ by the,Nitijela of the Republic of the 2.

That I am satisfied that Nitijela Bill relevant provisions of the Constitution of the Rules of Procedures of the Nitijela.

I hereby place my signature before the Clerk this llL duy No: 36 was passed in accordance with the the Republic of the Marshall Isiands and 2020.

Hon.

Kenneth.d.
Hon.

Kenneth.d.

Kedi Speaker Attest: Clerk Nitijela of the Marshall Islands Nitijela of the Marshall Islands Reoutrlic of the Mirshall Islands Page5