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

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

http://www.legislation.gov.uk/uksi/2020/991/regulation/4The Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020enEXITING THE EUROPEAN UNIONFINANCIAL SERVICESStatute Law Database2022-11-14Expert Participation2022-09-01These 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 2Implementation of EU law4Reporting discrepancies: general1

In regulation 30A(2)(b) (requirement to report discrepancies in registers), 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”.

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