NATIONAL COORDINATING COMMITTEE ON 
COMBATING MONEY LAUNDERING AND 
FUNDING OF TERRORISM [S.L. 373.02 1
SUBSIDIARY LEGISLATION 373.02
NATIONAL COORDINAT ING COMMITTEE ON 
COMBATING MONEY LA UNDERING AND FUNDING 
OF TERRORISM REGULATIONS
13th April, 2018
LEGAL NOTICE 117 of 2018 , as amended by Legal Notices 12 of 2019
and 284 of 2021.
Citation and scope. 1. (1) The title of these regulations is the National
Coordinating Committee on Combating Money Laundering andFunding of Terrorism Regulations.
(2) The objective of these regulations is to establish and
provide for the functions, powers and procedures of the Nationa l
Coordinating Committee on Combating Money Laundering andFunding of Terrorism.
Interpretation and 
application.
Amended by:L.N. 284 of 2021.
Cap.373.2. (1) The terms used in these regulations shall, unless
the context otherwise requires, o r unless otherwise defined in these
regulations, have the same meanin g attributed to the said terms  under
the Prevention of Money Laundering Act.
(2) In these regulations, unless the context otherwise
requires:
Cap.373. "the Act" means the Preventi on of Money Laundering Act;
"the Committee" means the National Coordinating Committee
on Combating Money Laundering and Funding of Terrorismestablished by regulation 3;
"the Minister" means the Minis ter responsible for Finance;
"subject person" shall have the s ame meaning as assigned to it
in the Prevention of Money Laundering and Funding of TerrorismRegulations.
Establishment, 
scope and 
composition of the 
Committee.3. (1) There is hereby established a National
Coordinating Committee on Combating Money Laundering andFunding of Terrorism.
(2) The Committee shall be composed in accordance with
the provisions of article 12A(3) of the Act.
Chairperson and 
Deputy 
Chairperson.4. (1) The Chairperson shall be the person referred to
in article 12A(5) of the Act.
(2) A Deputy Chairperson shall be appointed by the
Minister from among the members of the Committee. 
2[S.L. 373.02NATIONAL COORDINATING COMMITTEE ON 
COMBATING MONEY LAUNDERING AND 
FUNDING OF TERRORISM 
(3) The Chairperson shall be the Head of the Committee and
the Deputy Chairperson shall have all the powers and perform al l the
functions of the Chairperson during his absence or inability to  act as
Chairperson or during any vacanc y in the office of Chairperson.
Functions of the 
Committee.Amended by:
L.N. 12 of 2019.5. (1) Apart from the functions referred to in article
12A(2) of the Act, the Committee shall also:
(a) conduct any research and studies related to the
functions of the Committee;
(b) provide guidance, advice and make
recommendations to the Minister, on all matters relevant to thecombating of money laundering, funding of terrorism and thefinancing of the proliferation of weapons of mass destruction;
(c) conduct any necessary follow-up action to
monitor and ascertain the effective implementation of thenational strategy and policies and the actions intended toaddress any threats, vulnerabilities and risks identifiedfollowing the carrying out of national risk assessments and tokeep that risk assessment up to date;
(d) make the results of its risk assessments available
to the European Commission, the European Banking Authority(EBA), the European Insurance and Occupational PensionsAuthority (EIOPA), the European Securities and MarketsAuthority (ESMA) as well as the other Member States.
Sub-committees 
and experts.
Substituted by:
L.N. 284 of 2021.6. (1) For the purposes of assisting in the review of the
effectiveness of the national system to combat money laundering , the
funding of terrorism and the proliferation of weapons of massdestruction and to contribute to the carrying out of national r isk
assessments, the relevant competent authorities shall maintaincomprehensive statistical data.
(2) The comprehensive statistical data to be maintained shall
include:
(a) data measuring the size and importance of the
different sectors which are subj ect to anti-money laundering an d
counter-funding of terrorism obligations under the Prevention o f
Money Laundering and Funding of Terrorism Regulations,including the number of subject persons and the economicimportance of each sector;
(b) the number of suspicious transaction reports made
to the Financial Intelligence Analysis Unit and the follow upgiven to these reports;
NATIONAL COORDINATING COMMITTEE ON 
COMBATING MONEY LAUNDERING AND 
FUNDING OF TERRORISM [S.L. 373.02 3
(c) data identifying the number and percentage of
suspicious transaction reports resulting in furtherinvestigations;
(d) the number of money laundering and funding of
terrorism investigations, prosecutions and convictions, thenumber of persons investigated, prosecuted and convicted for
money laundering and funding of terrorism, and the types ofunderlying criminal activities, where such information isavailable; 
(e) the value in euro of property that has been
attached, frozen and confiscated; 
(f) statistics relevant to the exchange of information
between the Financial Intelligence Analysis Unit and foreigncounterparts, including data regarding the number of requestsfor information made, received, refused and answered in full orin part, broken down pe r foreign counterpart; 
(g) data on human resources available to the Financial
Intelligence Analysis Unit to carry out its functions underarticle 16(1)(a), (b)  and (c) of the Act; 
(h) the number of on-site and off-site examinations
carried out on subject persons with the aim of monitoring theircompliance with the provisions of the Act and any regulationsmade thereunder, the number of compliance failures or
contraventions identified following such examinations, and thenumber and values of administr ative measures or penalties
imposed; and
(i) any other statistical data that the Committee may
request to be maintained for the purposes set out under sub-regulation (1).
(2) The Financial Intelligence Analysis Unit shall maintain
the statistical data envisaged under paragraphs (a), (b), (c), (f), (g) and
(h);
(3) The Executive Police shall maintain information on
money laundering and funding of terrorism investigations, asenvisaged under paragraph (d);
(4) The Attorney General shall maintain information on
money laundering and funding of terrorism prosecutions as envis aged
under paragraph (d);
(5) The Registrar of Criminal Courts shall maintain
information on money laundering and funding of terrorism convic tions
4[S.L. 373.02NATIONAL COORDINATING COMMITTEE ON 
COMBATING MONEY LAUNDERING AND 
FUNDING OF TERRORISM 
as envisaged under paragraph (d);
(6) The Asset Recovery Bureau shall maintain the statistical
data envisaged unde r paragraph (e);
(7) The Committee shall ensure that the statistical data
envisaged under this regulation is transmitted annually to theEuropean Commission, and that a consolidated review thereof ispublished.
Meetings of the 
Committee.7. (1) The Committee shall meet within one month
from its constitution and at such re gular intervals thereafter as may be
necessary, but shall as a minim um meet once every two months.
(2) The Committee shall not act unless a quorum consisting
of the Chairperson or the Deputy Chairperson together with not less
than half of the Committee members are present.
(3) Without prejudice to the provisions of sub-regulation (2),
the Committee may act notwithstanding any vacancy amongst itsmembers.
(4) The meetings of the Committee shall be chaired by the
Chairperson, or, in the absence of the Chairperson, by the Depu ty
Chairperson.
(5) The decisions of the Committee shall be adopted by a
simple majority of the votes of the members present and voting,  and,
in the event of an equality of votes, the member presiding at t he
meeting shall have and exerci se a second or casting vote.
(6) The Committee shall have the  power to invite observers
to its meetings: 
Provided that such observers shall have the faculty of
participating and intervening during such meetings, but shall h ave no
voting rights.
Committee 
Secretariat.8. (1) There shall be set up a Committee Secretariat,
which shall be responsible for p roviding the necessary technica l and
administrative support to the Committee and to assist it in the  proper
carrying out of its functions, in particular, in the implementa tion of
decisions taken by the Committee.
(2) The Secretariat shall be provided with all the adequate
financial, human and technical re sources as may be necessary an d
expedient for its proper functioning and shall consist of such number
of appropriately skilled and specifically dedicated officials a s may be
deemed necessary from time to time, and as a minimum shall cons ist
of two full-time persons.
NATIONAL COORDINATING COMMITTEE ON 
COMBATING MONEY LAUNDERING AND 
FUNDING OF TERRORISM [S.L. 373.02 5
(3) The Secretariat shall have an Executive Secretary who
shall be the head of the Secretariat and who shall be responsib le for
the work and management of the Secretariat. The Executive Secre tary
shall also serve as Secretary to the Committee but shall not ha ve
voting rights.
Exemption from 
liability.9. Members of the Committee, rep resentatives appointed in
terms of regulation 3(2), expert s appointed in terms of regulat ions
6(1) and 6(2) and members of the Secretariat shall not be liabl e in
damages for anything done or omitted to be done in the discharg e or
purported discharge of any function under these regulations, un less
the act or omission is shown to have been done or omitted to be  done,
as the case may be, in bad faith.
Confidentiality. 10. The members of the Committee, representatives
appointed in terms of regulation 3(2), observers invited in ter ms of
regulation 7(6), experts appointed in terms of regulation 6(2) and
members of the Secretariat, whether still in the service of theCommittee or not, shall treat any information acquired in theperformance of their duties or the exercise of the functions un der
these regulations as confidential.
Reporting. 11.  The Committee shall compile and transmit an annual
report    on its activities to the Minister.