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PART 2 U.K.CUSTOMER DUE DILIGENCE

Directions where Financial Action Task Force applies counter-measuresU.K.

18.  The Treasury may direct any relevant person—

(a)not to enter into a business relationship;

(b)not to carry out an occasional transaction; or

(c)not to proceed any further with a business relationship or occasional transaction,

with a person who is situated or incorporated in a non-EEA state to which the Financial Action Task Force has decided to apply counter-measures.