Proceeds of Crime Act 2002U.K.
This section has no associated Explanatory Memorandum
41.—(1) Schedule 9 to the Proceeds of Crime Act 2002 (regulated sector and supervisory authorities) is amended as follows.
(2) In paragraph 1(1)(b) (business in the regulated sector) for “Banking Consolidation Directive” substitute “ Capital Requirements Regulation ” in both places where it appears.
(3) In paragraph 1(2)(a) for “Article 4(1) of the Banking Consolidation Directive” substitute “ Article 4(1)(1) of the Capital Requirements Regulation ”.
(4) In paragraph 1(2)(b) for “Article 4(3) of that Directive” substitute “ Article 4(1)(17) of that Regulation ”.
(5) In paragraph 3(1) (interpretation)—
(a)omit the definition of “the Banking Consolidation Directive”; and
(b)at the appropriate place insert—
““the Capital Requirements Regulation” means Regulation (EU) No. 575/2013 of the European Parliament and of the Council”.