The Money Laundering Regulations 2007 (revoked)

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

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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 [F128].

[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 [F543].

(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.

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