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Chapter 7
Special provisions applying to credit and financial institutions
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Measures for retrieval of information relating to business relationships.
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56.— (1) A credit institution or financial institution that is a designated person shall have systems in place to enable it to respond fully and promptly to enquiries from the Garda Síochána—
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(a) as to whether or not it has, or has had, a business relationship, within the previous 6 years, with a person specified by the Garda Síochána, and
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(b) the nature of any such relationship with that person.
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(2) A credit institution or financial institution that fails to comply with this section commits an offence and is liable—
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(a) on summary conviction, to a fine not exceeding €5,000 or imprisonment for a term not exceeding 12 months (or both), or
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(b) on conviction on indictment, to a fine or imprisonment for a term not exceeding 5 years (or both).
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