SCHEDULES

SCHEDULE 12Forfeiture of money: electronic money institutions and payment institutions

Anti-terrorism, Crime and Security Act 2001 (c. 24)

4

1

Paragraph 10Q (application for account freezing order) is amended as follows.

2

In sub-paragraph (1), for “bank or building society” substitute “ relevant financial institution ”.

3

After that sub-paragraph insert—

1A

In this Part of this Schedule, “relevant financial institution” means—

a

a bank,

b

a building society,

c

an electronic money institution, or

d

a payment institution.

4

In sub-paragraph (7), at the appropriate places insert—

“electronic money institution” has the same meaning as in the Electronic Money Regulations 2011 (S.I. 2011/99) (see regulation 2 of those Regulations);

“payment institution” means an authorised payment institution or a small payment institution (each as defined in regulation 2 of the Payment Services Regulations 2017 (S.I. 2017/752));