Version Superseded: 01/04/2003
Point in time view as at 24/02/2003. This version of this provision has been superseded.
There are currently no known outstanding effects for the Proceeds of Crime Act 2002, Section 400.
(1)A financial institution commits an offence if without reasonable excuse it fails to comply with a requirement imposed on it under a customer information order.
(2)A financial institution guilty of an offence under subsection (1) is liable on summary conviction to a fine not exceeding level 5 on the standard scale.
(3)A financial institution commits an offence if, in purported compliance with a customer information order, it—
(a)makes a statement which it knows to be false or misleading in a material particular, or
(b)recklessly makes a statement which is false or misleading in a material particular.
(4)A financial institution guilty of an offence under subsection (3) is liable—
(a)on summary conviction, to a fine not exceeding the statutory maximum, or
(b)on conviction on indictment, to a fine.
Commencement Information
I1S. 400 in force at 24.2.2003 by S.I. 2003/120, art. 2, Sch. (with arts. 3, 4) (as amended (20.2.2003) by S.I. 2003/333, art. 14)
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