Section 35: Assessment of Risk

1) The regulatory bodies, the investigating bodies, the indicting bodies, and the bodies concerned with this Act shall identify, assess and assess the risks, as required, in relation to financial investments in the creation and expansion of assets, terrorist acts or weapons of mass destruction, risky technologies, new dimensions of risks, persons committing such acts, their registration permits, operations, etc. at least once every year.

2) Before making the assessment pursuant to sub-section (1), the indicator institution shall prepare the method and material basis for the evaluation and submit it to the regulatory body.

3) The regulatory body can give necessary instructions if the indicator organisation’s risk assessment report does not appear to be objective and effective.

4) The body or institution, pursuant to sub-section (1), shall conduct a field risk assessment and send its report to the Coordinating Committee.

5) On the basis of the report received pursuant to subsection (4), the Coordinating Committee shall prepare a national and regional risk assessment report.

6) The body or institution, pursuant to sub-section (1), shall prepare and implement a risk-based annual action plan on the basis of the risk assessment report prepared in accordance with this section.

7) Other arrangements regarding risk assessment will be as prescribed.