Section 12: Exchange of Cooperation Regarding Investigation

1) The department may request or provide for the exchange of the information of investigation with its foreign counterpart carrying out functions of a similar nature, on the basis of reciprocity, upon demand or upon its own request.

2) It may, if necessary, conduct investigations of money laundering and terrorist financing together with its foreign counterpart carrying out similar functions.

3) The Department, in accordance with sub-sections (1) and (2), develops mutual arrangements with foreign counterparts carrying out similar functions to determine the method, terms and conditions, and procedures for the exchange of cooperation.

4) The provisions relating to non-infringement of privacy pursuant to section 26 shall be equally applicable with respect to information received from an entity of a country acting in accordance with sub-section (1) of the same nature.

5) Other arrangements for the exchange of research cooperation will be as prescribed.