PART 1Proceeds of crime

CHAPTER 5Miscellaneous

Miscellaneous provisions relating to Scotland

I230I1Money received by administrators

1

Paragraph 6 of Schedule 3 to the Proceeds of Crime Act 2002 (money received by administrator) is amended as follows.

2

In sub-paragraph (1) for “an appropriate bank or institution” substitute “ a bank or building society ”.

3

For sub-paragraph (3) substitute—

3

In sub-paragraph (1)—

a

“bank” means an authorised deposit-taker, other than a building society, that has its head office or a branch in the United Kingdom;

b

“building society” has the same meaning as in the Building Societies Act 1986.

4

In sub-paragraph (3)(a) “authorised deposit-taker” means—

a

a person who has permission under Part 4A of the Financial Services and Markets Act 2000 to accept deposits;

b

a person who—

i

is specified, or is within a class of persons specified, by an order under section 38 of that Act (exemption orders), and

ii

accepts deposits;

c

an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to that Act that has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12(1) of that Schedule) to accept deposits.

5

A reference in sub-paragraph (4) to a person or firm with permission to accept deposits does not include a person or firm with permission to do so only for the purposes of, or in the course of, an activity other than accepting deposits.