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The Money Laundering Regulations 2007 (revoked)

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  1. Introductory Text

  2. PART 1 GENERAL

    1. 1.Citation, commencement etc.

    2. 2.Interpretation

    3. 3.Application of the Regulations

    4. 4.Exclusions

  3. PART 2 CUSTOMER DUE DILIGENCE

    1. 5.Meaning of customer due diligence measures

    2. 6.Meaning of beneficial owner

    3. 7.Application of customer due diligence measures

    4. 8.Ongoing monitoring

    5. 9.Timing of verification

    6. 10.Casinos

    7. 11.Requirement to cease transactions etc.

    8. 12.Exception for trustees of debt issues

    9. 13.Simplified due diligence

    10. 14.Enhanced customer due diligence and ongoing monitoring

    11. 15.Branches and subsidiaries

    12. 16.Shell banks, anonymous accounts etc.

    13. 17.Reliance

    14. 18.Directions where Financial Action Task Force applies counter-measures

  4. PART 3 RECORD-KEEPING, PROCEDURES AND TRAINING

    1. 19.Record-keeping

    2. 20.Policies and procedures

    3. 21.Training

  5. PART 4 SUPERVISION AND REGISTRATION

    1. Interpretation

      1. 22.Interpretation

    2. Supervision

      1. 23.Supervisory authorities

      2. 24.Duties of supervisory authorities

    3. Registration of high value dealers, money service businesses and trust or company service providers

      1. 25.Duty to maintain registers

      2. 26.Requirement to be registered

      3. 27.Applications for registration in a register maintained under regulation 25

      4. 28.Fit and proper test

      5. 29.Determination of applications under regulation 27

      6. 30.Cancellation of registration in a register maintained under regulation 25

    4. Requirement to inform the Authority

      1. 31.Requirement on authorised person to inform the Authority

    5. Registration of Annex I financial institutions, estate agents etc.

      1. 32.Power to maintain registers

      2. 33.Requirement to be registered

      3. 34.Applications for and cancellation of registration in a register maintained under regulation 32

    6. Financial provisions

      1. 35.Costs of supervision

  6. PART 5 ENFORCEMENT

    1. Powers of designated authorities

      1. 36.Interpretation

      2. 37.Power to require information from, and attendance of, relevant and connected persons

      3. 38.Entry, inspection without a warrant etc.

      4. 39.Entry to premises under warrant

      5. 40.Failure to comply with information requirement

      6. 41.Powers of relevant officers

    2. Civil penalties, review and appeals

      1. 42.Power to impose civil penalties

      2. 43.Appeals against decisions of the Commissioners

      3. 43A.Offer of review

      4. 43B.Review by the Commissioners

      5. 43C.Extensions of time

      6. 43D.Review out of time

      7. 43E.Nature of review etc

      8. 43F.Bringing of appeals against decisions of the Commissioners

      9. 44.Appeals

    3. Criminal offences

      1. 45.Offences

      2. 46.Prosecution of offences

      3. 47.Offences by bodies corporate etc.

  7. PART 6 MISCELLANEOUS

    1. 48.Recovery of charges and penalties through the court

    2. 49.Obligations on public authorities

    3. 49A.Disclosure by the Commissioners

    4. 50.Transitional provisions: requirement to be registered

    5. 51.Minor and consequential amendments

  8. Signature

    1. SCHEDULE 1

      ACTIVITIES LISTED IN POINTS 2 TO 12, 14 and 15 OF ANNEX I TO THE BANKING CONSOLIDATION DIRECTIVE

      1. 2.Lending including, inter alia: consumer credit, mortgage credit, factoring, with...

      2. 3.Financial leasing.

      3. 4.Payment services as defined in Article 4(3) of Directive 2007/64/...

      4. 5.Issuing and administering other means of payment (including travellers’ cheques...

      5. 6.Guarantees and commitments.

      6. 7.Trading for own account or for account of customers in:...

      7. 8.Participation in securities issues and the provision of services related...

      8. 9.Advice to undertakings on capital structure, industrial strategy and related...

      9. 10.Money broking.

      10. 11.Portfolio management and advice.

      11. 12.Safekeeping and administration of securities.

      12. 14.Safe custody services

      13. 15.Issuing electronic money.

    2. SCHEDULE 2

      FINANCIAL ACTIVITY, SIMPLIFIED DUE DILIGENCE AND POLITICALLY EXPOSED PERSONS

      1. 1.Financial activity on an occasional or very limited basis

      2. 2.Simplified due diligence

      3. 3.For the purposes of regulation 13(8), the conditions are—

      4. 4.Politically exposed persons

    3. SCHEDULE 3

      PROFESSIONAL BODIES

      1. PART 1

        1. 1.Association of Chartered Certified Accountants

        2. 2.Council for Licensed Conveyancers

        3. 3.Faculty of Advocates

        4. 4.General Council of the Bar

        5. 5.General Council of the Bar of Northern Ireland

        6. 6.Institute of Chartered Accountants in England and Wales

        7. 7.Institute of Chartered Accountants in Ireland

        8. 8.Institute of Chartered Accountants of Scotland

        9. 9.Law Society

        10. 10.Law Society of Scotland

        11. 11.Law Society of Northern Ireland

      2. PART 2

        1. 12.Association of Accounting Technicians

        2. 13.Association of International Accountants

        3. 14.Association of Taxation Technicians

        4. 15.Chartered Institute of Management Accountants

        5. 16.Chartered Institute of Public Finance and Accountancy

        6. 17.Chartered Institute of Taxation

        7. 18.Faculty Office of the Archbishop of Canterbury

        8. 19.Insolvency Practitioners Association

        9. 20.Institute of Certified Bookkeepers

        10. 21.Institute of Financial Accountants

        11. 22.International Association of Book-keepers

    4. SCHEDULE 4

      CONNECTED PERSONS

      1. Corporate bodies

        1. 1.If the relevant person is a body corporate (“BC”), a...

      2. Partnerships

        1. 2.If the relevant person is a partnership, a person who...

      3. Unincorporated associations

        1. 3.If the relevant person is an unincorporated association of persons...

      4. Individuals

        1. 4.If the relevant person is an individual, a person who...

    5. SCHEDULE 5

      MODIFICATIONS IN RELATION TO APPEALS

      1. PART 1 Primary legislation

        1. 1.The Value Added Tax Act 1994 (c. 23)

        2. 2.The Financial Services and Markets Act 2000 (c. 8)

      2. PART 2 Secondary legislation

        1. 3.The Financial Services and Markets Tribunal Rules 2001

    6. SCHEDULE 6

      MINOR AND CONSEQUENTIAL AMENDMENTS

      1. PART 1 Primary legislation

        1. 1.The Value Added Tax Act 1994 (c. 23)

        2. 2.The Northern Ireland Act 1998 (c. 47)

        3. 3.The Criminal Justice and Police Act 2001 (c. 16)

      2. PART 2 Secondary legislation

        1. 4.The Independent Qualified Conveyancers (Scotland) Regulations 1997

        2. 5.The Executry Practitioners (Scotland) Regulations 1997

        3. 6.The Cross-Border Credit Transfers Regulations 1999

        4. 7.The Terrorism Act 2000 (Crown Servants and Regulators) Regulations 2001

        5. 8.The Representation of the People (England and Wales) Regulations 2001

        6. 9.The Representation of the People (Scotland) Regulations 2001

        7. 10.The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001

        8. 11.The Proceeds of Crime Act 2002 (Failure to Disclose Money Laundering: Specified Training) Order 2003

        9. 12.The Public Contracts (Scotland) Regulations 2006

        10. 13.The Utilities Contracts (Scotland) Regulations 2006

        11. 14.The Public Contracts Regulations 2006

        12. 15.The Utilities Contracts Regulations 2006

  10. Explanatory Note

Yn ôl i’r brig

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