Article 30 — Contraventions and AML/CFT LAW

30.1 If a Special Company carries on any activity which is not a Special Purpose Company Activity or Holding Company Activity, the Special Company will be in breach of its Licence unless otherwise permitted by the QFC Authority or the Regulatory Authority, as applicable.
30.2 The QFC Authority may give notice to the Special Company requiring it to refrain from any activity held to be in breach of its Licence with immediate effect and the QFC Authority may further exercise one or more of those powers set out in Article 23 of the QFC Authority Regulations in relation to the Special Company.
30.3 A Special Company must ensure that it is not involved in a contravention of the AML/CFT Law.
30.4 Notwithstanding Article 30.3, a Special Company must report any suspicious transactions to the Financial Information Unit established under the AML/CFT Law.
Amended (as from 19th October 2017).