The Zimbabwe (Financial Sanctions) Regulations 2009

Regulation 11

SCHEDULE U.K. Information gathering provisions

1.  The Treasury must take such steps as they consider appropriate to cooperate with any domestic and international investigation relating to the funds, economic resources or financial transactions of a designated person. U.K.

2.—(1) A relevant institution [F1 or relevant business or profession] must as soon as practicable inform the Treasury if it knows or suspects that a relevant person— U.K.

(a) is a designated person; or

(b) has committed an offence under regulation 6, 7, 9 or 10.

(2) A relevant institution [F1 or relevant business or profession], where it informs the Treasury under sub-paragraph (1), must state—

(a) the information or other matter on which the knowledge or suspicion is based;

(b) any information it holds about the relevant person by which the person can be identified; and

(c) the nature and amount or quantity of any funds or economic resources held by the relevant institution [F1 or relevant business or profession] for the relevant person since 21st February 2004 M1 .

(3) A relevant institution [F1 or relevant business or profession] must inform the Treasury without delay if it credits a frozen account in accordance with regulation 8(2).

(4) A relevant institution [F1 or relevant business or profession] that fails to comply with a requirement in sub-paragraph (1), (2) or (3) is guilty of an offence.

(5) In this paragraph, “relevant person” means—

(a) a customer of the institution [F2 or relevant business or profession];

(b) a person who has been a customer of the institution [F2 or relevant business or profession] at any time on or since 21st February 2004; or

(c) a person with whom the institution [F2 or relevant business or profession] has had dealings in the course of its business on or after that date.

[F3 (6) In this paragraph, a “relevant business or profession” means—

(a) an auditor;

(b) a casino;

(c) a dealer in precious metals or stones;

(d) an estate agent;

(e) an external accountant;

(f) an independent legal professional;

(g) a tax adviser; and

(h) a trust or company service provider,

operating in the United Kingdom.

(7) For the purpose of sub-paragraph (6)—

“auditor” means any firm or sole practitioner who is—

(a)

a statutory auditor within the meaning of Part 42 of the Companies Act 2006 (statutory auditors), when carrying out statutory audit work within the meaning of section 1210 of that Act (meaning of statutory auditor); or

(b)

a local auditor within the meaning of section 4(1) of the Local Audit and Accountability Act 2014 (general requirements for audit), when carrying out an audit required by that Act;

“casino” means the holder of a casino operating licence and, for this purpose, a “casino operating licence” has the meaning given by section 65(2)(a) of the Gambling Act 2005 (nature of a licence);

“dealer in precious metals or stones” means a person engaged in the business of making, supplying, selling (including selling by auction) or exchanging—

(a)

articles made from gold, silver, platinum or palladium; or

(b)

precious stones or pearls;

“estate agent” means a firm or sole practitioner, who, or whose employees, carry out estate agency work, when the work is being carried out;

“external accountant” means a firm or sole practitioner who by way of business provides accountancy services to other persons, when providing such services;

“independent legal professional” means a firm or sole practitioner who by way of business provides legal or notarial services to other persons, when providing such services;

“tax adviser” means a firm or sole practitioner who by way of business provides advice about the tax affairs of other persons, when providing such services;

“trust or company service provider” means a firm or sole practitioner who by way of business provides any of the following services to other persons, when that firm or practitioner is providing such services—

(a)

forming companies or other legal persons;

(b)

acting, or arranging for another person to act—

(i)

as a director or secretary of a company;

(ii)

as a partner of a partnership; or

(iii)

in a similar capacity in relation to other legal persons;

(c)

providing a registered office, business address, correspondence or administrative address or other related services for a company, partnership or any other legal person or arrangement;

(d)

acting, or arranging for another person to act, as—

(i)

a trustee of an express trust or similar legal arrangement; or

(ii)

a nominee shareholder for a person.

(8) In sub-paragraph (7)—

(a) in the definition of “estate agent”, “estate agency work” is to be read in accordance with section 1 of the Estate Agents Act 1979 (estate agency work), but for those purposes references in that section to disposing of or acquiring an interest in land are (despite anything in section 2 of that Act) to be taken to include reference to disposing of or acquiring an estate or interest in land outside the United Kingdom where that estate or interest is capable of being owned or held as a separate interest;

(b) “firm” means any entity that, whether or not a legal person, is not an individual and includes a body corporate and a partnership or other unincorporated association.]

Textual Amendments

F1 Words in Sch. para. 2(1)-(4) inserted (8.8.2017) by The European Union Financial Sanctions (Amendment of Information Provisions) Regulations 2017 (S.I. 2017/754), regs. 1, 2(2) (with reg. 28)

F2 Words in Sch. para. 2(5) inserted (8.8.2017) by The European Union Financial Sanctions (Amendment of Information Provisions) Regulations 2017 (S.I. 2017/754), regs. 1, 2(3) (with reg. 28)

F3 Sch. para. 2(6)-(8) inserted (8.8.2017) by The European Union Financial Sanctions (Amendment of Information Provisions) Regulations 2017 (S.I. 2017/754), regs. 1, 2(4) (with reg. 28)

Marginal Citations

M1 This is the date on which the EC Regulation came into force.

3.—(1) The Treasury may request any person to give to them any information or to produce to them any document in that person's possession or control which they may require for the purpose of— U.K.

(a) monitoring compliance with or detecting evasion of these Regulations;

(b) obtaining evidence of the commission of an offence under these Regulations;

(c) establishing—

(i) the nature and amount or quantity of any funds or economic resources owned, held or controlled by a designated person; or

(ii) the nature of any financial transactions entered into by a designated person.

(2) This includes power to—

(a) take copies of or extracts from any document so produced;

(b) request any person producing a document to give an explanation of it; and

(c) where that person is a body corporate, request any person who is a present or past officer of, or employee of, the body corporate to give such an explanation.

(3) Any person to whom a request is made must comply with it within such time and in such manner as may be specified in the request.

(4) Nothing in this paragraph shall be taken to require any person who has acted as counsel or solicitor for any person to give or produce any privileged information or document in his or her possession in that capacity.

4.  Any person who— U.K.

(a) without reasonable excuse refuses or fails within the time and in the manner specified (or, if no time has been specified, within a reasonable time) to comply with any request made under paragraph 3;

(b) knowingly or recklessly gives any information or produces any document which is false in a material particular in response to such a request;

(c) otherwise wilfully obstructs the Treasury in the exercise of their powers under this Schedule; or

(d) with intent to evade the provisions of this Schedule, destroys, mutilates, defaces, conceals or removes any document;

is guilty of an offence.

5.  Where a person is convicted of an offence under paragraph 4(a), the court may make an order requiring him or her, within such period as may be specified in the order, to give the requested information or to produce the requested document. U.K.

6.—(1) The Treasury may disclose any information given or document produced under these Regulations (including any copy or extract made of any such document)— U.K.

(a) to a police officer;

(b) to any person holding or acting in any office under or in the service of—

(i) the Crown in respect of the Government of the United Kingdom;

(ii) the Government of the Isle of Man;

(iii) the States of Guernsey or Alderney or the Chief Pleas of Sark;

(iv) the State of Jersey; or

(v) any British overseas territory;

(c) for the purpose of giving assistance or cooperation, pursuant to the EC Regulation, to any person in the service of the Council of the European Union, the European Commission or the government of any country;

(d) to [F4 the Financial Conduct Authority, the Prudential Regulation Authority, or the Bank of England];

(e) with a view to instituting, or otherwise for the purposes of, any proceedings—

(i) in the United Kingdom, for an offence under these Regulations; or

(ii) in any of the Channel Islands, the Isle of Man or any British overseas territory, for an offence under a similar provision in any such jurisdiction; or

(f) with the consent of a person who, in his or her own right (and not merely in the capacity of servant or agent), is entitled to the information or to the possession of the document, to any third party.

Textual Amendments

F4 Words in Sch. para. 6(1)(d) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 171

7.  An action done under this Schedule is not to be treated as a breach of any restriction imposed by statute or otherwise. U.K.