http://www.legislation.gov.uk/uksi/2020/991/part/4The Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020enEXITING THE EUROPEAN UNIONFINANCIAL SERVICESStatute Law Database2022-11-14Expert Participation2022-09-01 These Regulations amend the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (S.I. 2017/692) (“the MLRs”). The provisions are mainly—in regulation 7, to transpose amendments made to Article 31 of Directive 2015/849/EU of the European Parliament and of the Council of 20th May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing by Directive 2018/843/EU of the European Parliament and of the Council of 30th May 2018;in regulation 14, made in exercise of the powers in section 8(1) of the European Union (Withdrawal) Act 2018 in order to address failures of retained EU law to operate effectively and other deficiencies arising from the withdrawal of the United Kingdom from the European Union (and in particular the deficiencies referred to in paragraphs (a) and (g) of subsection (2)). PART 4EU exit amendments EU exit amendments 14 1 The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 are amended as follows. 2 In regulation 42— a for paragraph (4) substitute— 4 For the purposes of this Part, an “EEA registered trust” is a trust established in a country or territory other than the United Kingdom where national legislation applies having a broadly equivalent effect to the requirements laid down in the fourth money laundering directive. ; b for paragraph (6)(b) substitute— b “third country entity” means a body corporate, partnership or other entity that— i is governed by the law of a country or territory other than the United Kingdom and (in each case) is a legal person under that law, and ii is not subject to national legislation having a broadly equivalent effect to the requirements laid down in Article 30 of the fourth money laundering directive. . Reg. 14 in force at 31.12.2020, see reg. 1(5)
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<dc:title>The Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020</dc:title>
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<dc:subject scheme="SIheading">EXITING THE EUROPEAN UNION</dc:subject>
<dc:subject scheme="SIheading">FINANCIAL SERVICES</dc:subject>
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<dc:description>These Regulations amend the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (S.I. 2017/692) (“the MLRs”). The provisions are mainly—in regulation 7, to transpose amendments made to Article 31 of Directive 2015/849/EU of the European Parliament and of the Council of 20th May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing by Directive 2018/843/EU of the European Parliament and of the Council of 30th May 2018;in regulation 14, made in exercise of the powers in section 8(1) of the European Union (Withdrawal) Act 2018 in order to address failures of retained EU law to operate effectively and other deficiencies arising from the withdrawal of the United Kingdom from the European Union (and in particular the deficiencies referred to in paragraphs (a) and (g) of subsection (2)).</dc:description>
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in force at 31.12.2020, see
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