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The Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020

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Changes over time for: Section 4

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There are currently no known outstanding effects for the The Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020, Section 4. Help about Changes to Legislation

Reporting discrepancies: generalU.K.

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4.—(1) In regulation 30A(2)(b) (requirement to report discrepancies in registers)(1), after “carrying out its duties under these Regulations” insert “when establishing a business relationship with the customer”.

(2) In regulation 37(2)(a) (simplified due diligence)—

(a)for “regulation 28” substitute “regulations 28 and 30A”;

(b)for “that regulation” substitute “regulation 28”.

(3) In regulation 39 (reliance)—

(a)in paragraph (1), after “regulation 28(2) to (6) and (10)” insert “, or to carry out any of the measures required by regulation 30A,”;

(b)in paragraph (2)—

(i)after “apply customer due diligence measures” insert “or carry out any of the measures required by regulation 30A”;

(ii)in sub-paragraph (a), after “regulation 28(2) to (6) and (10)” insert “and regulation 30A”;

(c)in paragraph (7), after “applying customer due diligence measures” insert “, or carrying out any of the measures required by regulation 30A,”.

(4) In regulation 40(2)(a) (record keeping), after “regulations 28, 29 and 33 to 37” insert “and the requirements of regulation 30A”.

Commencement Information

I1Reg. 4 in force at 6.10.2020, see reg. 1(2)

(1)

Regulation 30A was inserted by S.I. 2019/1511.

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