The Register of Overseas Entities (Verification and Provision of Information) Regulations 2022

Meaning of “relevant person” U.K.

3.—(1) Subject to paragraph (2), a “relevant person” is a person who is a relevant person for the purposes of the Money Laundering Regulations(1).

(2) A person is not a relevant person where that person—

(a) is a high value dealer within the meaning given in regulation 14(1)(a) of the Money Laundering Regulations;

(b) is a casino within the meaning given in regulation 14(1)(b) of the Money Laundering Regulations;

(c) is an art market participant within the meaning given in regulation 14(1)(d) of the Money Laundering Regulations;

(d) is a cryptoasset exchange provider within the meaning given in regulation 14A(1) of the Money Laundering Regulations;

(e) is a custodian wallet provider within the meaning given in regulation 14A(2) of the Money Laundering Regulations;

(f) has been convicted of an offence—

(i) in Great Britain under section 32 of ECTEA (general false statement offence), and that conviction has not yet become spent within the meaning of the Rehabilitation of Offenders Act 1974(2), or

(ii) in Northern Ireland under section 32 of ECTEA, and that person’s conviction has not yet become spent within the meaning of the Rehabilitation of Offenders (Northern Ireland) Order 1978(3);

(g) has been convicted of an offence—

(i) in Great Britain under regulation 86, 87 or 88 of the Money Laundering Regulations, and that conviction has not yet become spent within the meaning of the Rehabilitation of Offenders Act 1974; or

(ii) in Northern Ireland under regulation 86, 87 or 88 of the Money Laundering Regulations, and that conviction has not yet become spent within the meaning of the Rehabilitation of Offenders (Northern Ireland) Order 1978.

Commencement Information

I1 Reg. 3 comes into force in accordance with reg. 1(1)

(1)

See in particular regulations 3 and 8 of those Regulations.

(2)

1974 c. 53.

(3)

1978 No. 1908 (N.I. 27).