Dáil Éireann Debate, Tuesday - 17 April 2018
496. Deputy Thomas P. Broughan asked the Minister for Justice and Equality when the fourth EU anti-money laundering directive will be transposed into legislation here; and if he will make a statement on the matter. [16036/18]
Amharc ar fhreagraThe draft Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill 2018, which will transpose most provisions of the Fourth Anti-Money Laundering Directive, has been under preparation in my Department in consultation with the Department of Finance and other relevant Departments and agencies. I intend to bring the Bill to Government for approval shortly and, subject to that approval, to publish the Bill by the end of this month. Further legislative changes will be required to transpose aspects of the Directive relating to providers of gambling services.
The Department of Finance has responsibility for the transposition of Articles 30 and 31 of the Directive, establishing central registers of beneficial ownership for corporates, other legal entities and trusts. These articles are being transposed by secondary legislation, and work on the required Statutory Instruments is currently well progressed. It should also be noted that the Fifth Anti-Money laundering Directive, which is expected to be published in the Official Journal in May, sets extended deadlines for the establishment of these central registers of beneficial ownership for companies and trusts (18-20 months respectively after 5AMLD enters into force).
