Cap. 373 Art. 27ACo-operation with counterpart Financial Intelligence Units.

(1) In carrying out its functions under article 16(1)(k)(i), the Unit may exchange any information that may be relevant for the processing or analysis of information or to investigations regarding financial transactions or activities related to money laundering or the underlying criminal activity, or funding of terrorism and the persons involved, regardless of the type of underlying criminal activity, and even where the underlying criminal activity is not known at the time of exchange:

Provided that the Unit may, in exceptional and urgent circumstances and subject to operational limitations, promptly exchange financial information or financial analysis relevant for the processing or analysis of information related to terrorism or organised crime associated with terrorism, with any authority, body, or agency of a Member State considered to have functions equivalent or analogous to those of the Unit under article 16(1)(a) and (b):

Provided further that the Unit shall apply and make use of appropriate, protected and secure channels, mechanisms and technologies, to cooperate and exchange information as provided in this sub-article.

(2) The Unit may impose conditions and restrictions on the use of exchanged information as it may determine, including the prior conclusion, if it deems so necessary, of any memorandum of understanding or other agreement to regulate any such exchange of information:

Provided that the disclosure of information shall be subject to the condition that the information or documents disclosed shall not be used for purposes other than those indicated by the Unit nor shall they be disseminated to any other person, body, authority or agency, without the express prior consent of the Unit.

(3) The consent referred to in the proviso to sub-article (2) shall be provided by the Unit promptly, regardless of the type of underlying criminal activity and shall not be withheld unless in the opinion of the Unit such disclosure:

(a) could lead to the impairment of a criminal investigation or;

(b) would not be in accordance with the fundamental principles of Maltese law.

(4) The Unit shall respond, in a timely manner, to requests for information made by any foreign authority, body or agency considered to have functions equivalent or analogous to those of the Unit under article 16(1)(a) and (b):

Provided that the Unit may refuse to disclose any document or information:

(a) if in its opinion such disclosure would not be in accordance with fundamental principles of Maltese law;

(b) if in its opinion the foreign authority, body or agency does not have duties of secrecy and confidentiality that are at least equivalent to those of the Unit or does not provide effective measures to protect confidentiality and secrecy; or

(c) on the grounds of lack of reciprocity or repeated non-cooperation by the foreign authority, body or agency making the request:

Provided further that where the request for information is made by an authority, body or agency of a Member State considered to have functions equivalent or analogous to those of the Unit under article 16(1)(a) and (b), the Unit may refuse to disclose any document or information only if in its opinion such disclosure would not be in accordance with fundamental principles of Maltese law.

(5) Where the Unit refuses to grant consent under sub-article

(3) or to disclose information in terms of the provisos to sub-article (4), an explanation shall be provided.

(6) Without prejudice to the other provisions of this article, where the Unit receives information pursuant to its function under article 16(1)(a) which concerns another Member State, it shall promptly forward any relevant information to the authority, body or agency within that Member State, considered to have functions equivalent or analogous to those of the Unit under article 16(1)(a) and (b).

(7) Where the Unit receives information, data or documents from a foreign authority, body or agency considered to have functions equivalent or analogous to those of the Unit under article 16(1)(a) and (b), the Unit shall comply with any restriction and condition on the use of such information, data or documents imposed by that foreign authority, body or agency.