Explanatory Notes

Scotland Act 1998

1998 CHAPTER 46

19th November 1998

Schedules

Schedule 5.

Part II: Preliminary paragraphs

Head A: Financial and Economic Matters

Section A5: Money Laundering
Purpose and Effect

This Section reserves the regulation of financial and other businesses so as to require systems to be in place to prevent money laundering.  It does not, however, reserve the criminal law as it relates to money laundering, competence in respect of which is, with certain exceptions, devolved as part of the general devolution of the criminal law.