10U.K.Part 5 of the Proceeds of Crime Act 2002 (civil recovery of the proceeds etc of unlawful conduct) is amended as follows.
Commencement Information
I1Sch. 12 para. 10 in force at Royal Assent for E.W.S., see. s. 49(1)(a)
I2Sch. 12 para. 10 in force at 28.6.2021 for N.I. by S.I. 2021/739, reg. 2
11U.K.Chapter 3B (forfeiture of money held in bank and building society accounts) is amended in accordance with paragraphs 12 to 20.
Commencement Information
I3Sch. 12 para. 11 in force at Royal Assent for E.W.S., see. s. 49(1)(a)
I4Sch. 12 para. 11 in force at 28.6.2021 for N.I. by S.I. 2021/739, reg. 2
12U.K.In the Chapter heading, for “bank and building society” substitute “ certain ”.
Commencement Information
I5Sch. 12 para. 12 in force at Royal Assent for E.W.S., see. s. 49(1)(a)
I6Sch. 12 para. 12 in force at 28.6.2021 for N.I. by S.I. 2021/739, reg. 2
13U.K.In the italic heading before section 303Z1, for “bank and building society” substitute “ certain ”.
Commencement Information
I7Sch. 12 para. 13 in force at Royal Assent for E.W.S., see. s. 49(1)(a)
I8Sch. 12 para. 13 in force at 28.6.2021 for N.I. by S.I. 2021/739, reg. 2
14(1)Section 303Z1 (application for account freezing order) is amended as follows.U.K.
(2)In subsection (1), for “bank or building society” substitute “ relevant financial institution ”.
F1(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F2(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5)In subsection (6), at the appropriate places insert—
““electronic money institution” has the same meaning as in the Electronic Money Regulations 2011 (S.I. 2011/99) (see regulation 2 of those Regulations);”, and
““payment institution” means an authorised payment institution or a small payment institution (each as defined in regulation 2 of the Payment Services Regulations 2017 (S.I. 2017/752));”.
Textual Amendments
F1Sch. 12 para. 14(3) omitted (28.6.2022) by virtue of Police, Crime, Sentencing and Courts Act 2022 (c. 32), ss. 59(4), 208(5)(h)
F2Sch. 12 para. 14(4) omitted (28.6.2022) by virtue of Police, Crime, Sentencing and Courts Act 2022 (c. 32), ss. 59(4), 208(5)(h)
Commencement Information
I9Sch. 12 para. 14 in force at Royal Assent for E.W.S., see. s. 49(1)(a)
I10Sch. 12 para. 14 in force at 28.6.2021 for N.I. by S.I. 2021/739, reg. 2
15U.K.In section 303Z2(3) (restrictions on making of application under section 303Z1), for “bank or building society” substitute “ relevant financial institution ”.
Commencement Information
I11Sch. 12 para. 15 in force at Royal Assent for E.W.S., see. s. 49(1)(a)
I12Sch. 12 para. 15 in force at 28.6.2021 for N.I. by S.I. 2021/739, reg. 2
16U.K.In section 303Z6(1), for “bank or building society” substitute “ relevant financial institution ”.
Commencement Information
I13Sch. 12 para. 16 in force at Royal Assent for E.W.S., see. s. 49(1)(a)
I14Sch. 12 para. 16 in force at 28.6.2021 for N.I. by S.I. 2021/739, reg. 2
17U.K.In section 303Z8(4), for “bank or building society” substitute “ relevant financial institution ”.
Commencement Information
I15Sch. 12 para. 17 in force at Royal Assent for E.W.S., see. s. 49(1)(a)
I16Sch. 12 para. 17 in force at 28.6.2021 for N.I. by S.I. 2021/739, reg. 2
18U.K.In section 303Z9(6)(b) (account forfeiture notice: England and Wales and Northern Ireland), for “bank or building society” substitute “ relevant financial institution ”.
Commencement Information
I17Sch. 12 para. 18 in force at Royal Assent for E.W.S., see. s. 49(1)(a)
I18Sch. 12 para. 18 in force at 28.6.2021 for N.I. by S.I. 2021/739, reg. 2
19(1)Section 303Z11 (lapse of account forfeiture notice) is amended as follows.U.K.
(2)In subsection (6), for “bank or building society” substitute “ relevant financial institution ”.
(3)In subsection (7)—
(a)for “If the bank or building society” substitute “ If the relevant financial institution ”, and
(b)for “on the bank or building society” substitute “ on the institution ”.
Commencement Information
I19Sch. 12 para. 19 in force at Royal Assent for E.W.S., see. s. 49(1)(a)
I20Sch. 12 para. 19 in force at 28.6.2021 for N.I. by S.I. 2021/739, reg. 2
20U.K.In section 303Z14(7)(a) (forfeiture order), for “bank or building society” substitute “ relevant financial institution ”.
Commencement Information
I21Sch. 12 para. 20 in force at Royal Assent for E.W.S., see. s. 49(1)(a)
I22Sch. 12 para. 20 in force at 28.6.2021 for N.I. by S.I. 2021/739, reg. 2
21U.K.In section 316(1) (general interpretation of Part 5), at the appropriate places insert—
““electronic money institution” (in Chapter 3B) has the meaning given by section 303Z1(6),”,
““payment institution” (in Chapter 3B) has the meaning given by section 303Z1(6),”, and
““relevant financial institution” (in Chapter 3B) has the meaning given by section 303Z1,”.
Commencement Information
I23Sch. 12 para. 21 in force at Royal Assent for E.W.S., see. s. 49(1)(a)
I24Sch. 12 para. 21 in force at 28.6.2021 for N.I. by S.I. 2021/739, reg. 2