The Money Laundering Regulations 2007 (revoked) No. 2157

PART 4 U.K. SUPERVISION AND REGISTRATION

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

Cancellation of registration in a register maintained under regulation 25 U.K.

30.—(1) The Commissioners must cancel the registration of a money service business or trust or company service provider in a register maintained under regulation 25(1) if, at any time after registration, they are satisfied that he or any person mentioned in regulation 28(1)(b), (c) or (d) is not a fit and proper person within the meaning of regulation [F1 28].

[F2 (2) The Commissioners may cancel a person’s registration in a register maintained by them under regulation 25 if, at any time after registration—

(a) it appears to them that that any condition in regulation 29(1) is met; or

(b) the person has failed to comply with any requirement of a notice given under regulation 37.]

[F3 (2A) The Commissioners may cancel the registration of a money service business in a register maintained under regulation 25(1)(b) where the money service business—

(a) is providing a payment service in the United Kingdom, or is purporting to do so;

(b) is not included in the register of payment service providers maintained by the Authority under regulation 4(1) of the Payment Service Regulations 2009; and

(c) is not a person mentioned in paragraphs (c) to (h) of the definition of a payment service provider in regulation 2(1) of the Payment Services Regulations 2009, or a person to whom regulation 3 or 121 of those Regulations applies.]

(3) Where the Commissioners decide to cancel a person's registration they must give him notice of—

(a) their decision and, subject to paragraph (4), the date from which the cancellation takes effect;

(b) the reasons for their decision;

[F4 (c) the right to a review under regulation 43A; and]

(d) the right to appeal under regulation [F5 43].

(4) If the Commissioners—

(a) consider that the interests of the public require the cancellation of a person's registration to have immediate effect; and

(b) include a statement to that effect and the reasons for it in the notice given under paragraph (3),

the cancellation takes effect when the notice is given to the person.

Textual Amendments

F1 Word in reg. 30(1) substituted (1.10.2012) by The Money Laundering (Amendment) Regulations 2012 (S.I. 2012/2298), regs. 1, 11(a)

F2 Reg. 30(2) substituted (1.10.2012) by The Money Laundering (Amendment) Regulations 2012 (S.I. 2012/2298), regs. 1, 11(b)

F3 Reg. 30(2A) inserted (1.10.2012) by The Payment Services Regulations 2012 (S.I. 2012/1791), regs. 1(2)(b), 2

F4 Reg. 30(3)(c) substituted (1.4.2009) by The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 2 para. 170(2)

F5 Word in reg. 30(3)(d) substituted (1.4.2009) by The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 2 para. 170(3)