Section 22 Money Laundering Act

Section 22 of the Money Laundering (Prevention and Prohibition) Act 2022 is about Offences by a body corporate. It provides as follows:

(1) Where an offence under this Act which has been committed by a body corporate is proved to have been committed on the instigation or with the connivance of or attributable to any neglect on the part of a director, manager, secretary or other similar officer of the body corporate, or any person purporting to act in any such capacity, he, as well as the body corporate where applicable, commits an offence and is liable to be proceeded against and punished accordingly.

(2) Where a body corporate is convicted of an offence under this Act, the court may order that the body corporate shall, be wound up and all its assets and properties forfeited to the Federal Government.