Council of Ministers Regulation No. 171/2009
COUNCIL OF MINISTERS REGULAITON TO PROVIDE FOR THE ESTABLISHMENT OF THE FINANCIAL INTELLEGENCE CENTER
This Regulation is issued by the Council of Ministers pursuant to Articles 5 and 34 of the Definition of Power and Duties of the Executive Organs of the Federal Democratic Republic of Ethiopia Proclamation No. 603/2008) and Article 21 (1) of the Prevention and Suppression of Money Laundering and the Financing of Terrorism Proclamation No. 657/2009.
1. Short Title
This Regulation may be cited as the “Financial Intelligence Center Establishment Council of Ministers Regulation No. 171/2009”
In this Regulation unless the context otherwise requires:
1. “Proclamation” means the Prevention and Suppression of Money Laundering and the Financing of Terrorism Proclamation No. 657/2009;
2. the definitions assigned to the terms under Article 2 of the Proclamation shall be applicable.
1. The Financial Intelligence Center (hereinafter the “Center”) is hereby established as an autonomous government office having its own legal personality.
2. The Center shall be accountable to the Prime Minister.
4. Head Office
The Center shall have its head office in Addis Ababa and may have branch offices elsewhere as may be necessary.
The Center shall have the objectives to coordinate the various institutions involved in the fight against money laundering and the financing of terrorism, to organize and analyze the information it receives and to perform other related tasks to enable the implementation of the Proclamation.
6. Powers and Duties of the Center
The Center shall have the powers and duties to:
1. exercise the powers and duties vested in it under Article 21 (2) of the Proclamation:
2. own property, enter into contracts, sue and be sued in its own name;
3. carry out other lawful activities necessary for the attainment of its objectives.
7. Organization of the Center
The Center shall have:
1. a Board of Directors;
2. a Director General; and
3. the necessary staff.
8. Members of the Board of Directors
1. The Board of Directors shall consist of seven members. The Director General of the Center shall be a permanent member of the Board. The Chairperson of the Board and the remaining five members shall be appointed by the Government.
2. The amount of allowance to be paid to the members of the Board shall be determined by the Government.
9. Powers and Duties of the Board
The Board shall:
1. exercise the powers and duties of the Center referred to in sub-article (1) of Article 6 of this Regulation;
2. supervise and follow up the proper functioning of the Center and ensure the implementation of the Proclamation;
3. advise the Government on legislative, regulatory and policy reforms with regard to money laundering and the financing of terrorism;
4. issue directives necessary for the implementation of the Proclamation and regulation issued under it; and
5. approve the policy manual, work plan, organizational structure and manning of the Center; and submit for government approval the staff regulations of the Center prepared on the basis of the basic principles of the civil service laws.
10. Meetings and Procedures of the Board
1. The Board shall meet for the discharge of its functions as often as business requires; provided however, that it shall meet not less than once in the three months.
2. The Board:
a) shall determine its own rules of procedures of meetings;
b) may request advice and assistance from such persons as it considers necessary to assist it to perform its functions; and
c) may appoint committees from its members to assist it in the performance of its functions.
3. There shall be quorum where a majority of the members of the Board are present at any meeting, and any decision or action shall be approved by a majority of those present at the meeting.
11. Director General of the Center
1. The Director General of the Center shall be appointed by the Government.
2. The Director General shall be the chief executive officer of the Center and, as such, shall direct and administer the activities of the Center.
3. Without limiting the generality stated in sub article (2) of this Article, the Director General shall:
a) exercise the powers and duties of the Center as directed by the Board;
b) employ and administer the employees of the Center in accordance with the staff regulations referred to in Article 9(5) of this Regulation;
c) prepare, and submit to the Board, the annual work plan and budget of the Center and implement same upon approval;
d) submit performance and financial reports of the Center to the Board;
e) represent the Center in the dealings with third parties;
f) delegate part of his powers and duties to the employees of the Center to the extent necessary for the effectiveness and efficiency of the Center;
g) keep the Board informed of any matter that could materially affect public policy or the strategic direction of the Center;
h) perform any other tasks as may be assigned by the Board.
1. The Center shall prepare and make available to the public and annual report that shall at least include the following information, not otherwise confidential:
a) statistical data such as the number of reports received pursuant to the Proclamation, the number of referrals made to law enforcement bodies, the number and prosecutions based on those referrals, and the number of international requests for assistance; and
b) any other information mandated by the Board to be included in the Annual Report.
2. The Center shall transmit information on common and emerging typologies of money laundering and the financing of terrorism as a mechanism to provide guidance to the accountable persons on suspicious transactions.
The budget of the Center shall be allocated by the Government.
14. Books of Accounts
1. The Center shall keep accurate and complete books of accounts.
2. The books of accounts and financial documents of the Center shall be audited annually by the Federal Auditor General or by an auditor appointed by the Auditor General.
15. Relation with the National Bank of Ethiopia
In relations to issues provided in the Proclamation regarding financial institutions, the Center shall act in consultation with the National Bank of Ethiopia.
16. Effective Date
This Regulation shall enter into force as of the 4th day of December 2009.
Done at Addis Ababa, this 12th day of February 2010.
PRIME MINISTER OF THE FEDERAL DEMOCRATICE
REPUBLIC OF ETHIOPIA