Proceeds of Crime Act 2002 (c. 29)

Part 7 U.K. Money Laundering

Modifications etc. (not altering text)

C1 Pt. 7 applied (24.2.2003) by Proceeds of Crime Act 2002 (Crown Servants) Regulations 2003 (S.I. 2003/173), regs. 1, 3

Offences U.K.

[F1 333B Disclosures within an undertaking or group etc U.K.

(1) An employee, officer or partner of an undertaking does not commit an offence under section 333A if the disclosure is to an employee, officer or partner of the same undertaking.

(2) A person does not commit an offence under section 333A in respect of a disclosure by a credit institution or a financial institution if—

(a) the disclosure is to a credit institution or a financial institution,

(b) the institution to whom the disclosure is made is situated in [F2 the United Kingdom or an EEA state] or in a country or territory imposing equivalent money laundering requirements, and

(c) both the institution making the disclosure and the institution to whom it is made belong to the same group.

(3) In subsection (2) “group” has the same meaning as in Directive 2002/87/ EC of the European Parliament and of the Council of 16 ^th December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate.

(4) A professional legal adviser or a relevant professional adviser does not commit an offence under section 333A if—

(a) the disclosure is to professional legal adviser or a relevant professional adviser,

(b) both the person making the disclosure and the person to whom it is made carry on business in [F3 the United Kingdom or an EEA state] or in a country or territory imposing equivalent money laundering requirements, and

(c) those persons perform their professional activities within different undertakings that share common ownership, management or control.]

Textual Amendments

F1 Ss. 333A-333E inserted (26.12.2007) by Terrorism Act 2000 and Proceeds of Crime Act 2002 (Amendment) Regulations 2007 (S.I. 2007/3398), reg. 1(2), Sch. 2 para. 4

F2 Words in s. 333B(2)(b) substituted (31.12.2020) by The Law Enforcement and Security (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/742), regs. 1, 107(6); 2020 c. 1, Sch. 5 para. 1(1)

F3 Words in s. 333B(4)(b) substituted (31.12.2020) by The Law Enforcement and Security (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/742), regs. 1, 107(6); 2020 c. 1, Sch. 5 para. 1(1)