Economic Crime (Transparency and Enforcement) Act 2022

PART 4 General

67 Regulations

(1) A power to make regulations under this Act is exercisable by statutory instrument.

(2) Regulations under this Act may make different provision for different purposes.

(3) Regulations under this Act may—

(a) include supplementary, incidental and consequential provision;

(b) make transitional provision and savings.

(4) Where regulations under this Act are subject to “the affirmative resolution procedure”, the regulations may not be made unless a draft of the statutory instrument containing them has been laid before and approved by a resolution of each House of Parliament.

(5) Where regulations under this Act are subject to “the negative resolution procedure”, the statutory instrument containing the regulations is subject to annulment in pursuance of a resolution of either House of Parliament.

(6) Any provision that may be made by regulations under this Act subject to the negative resolution procedure may be made by regulations subject to the affirmative resolution procedure.

(7) This section does not apply to regulations under section 69.

68 Extent

(1) Except as mentioned in subsections (2) to (4), this Act extends to—

(a) England and Wales,

(b) Scotland, and

(c) Northern Ireland.

(2) In Part 1—

(a) section 33(1) and Schedule 3 extend to England and Wales only;

(b) section 33(2) and Parts 1 and 2 of Schedule 4 extend to Scotland only;

(c) section 33(3) to (7) and Schedule 5 extend to Northern Ireland only.

(3) In Part 2, section 51 extends to England and Wales only.

(4) The amendments made by the rest of Part 2 and by Part 3 have the same extent as the provisions amended.

69 Commencement

(1) Parts 1 and 2 come into force on such day as the Secretary of State may by regulations appoint.

(2) Chapter 1 of Part 3 comes into force on such day as the Treasury may by regulations appoint.

(3) Chapter 2 of Part 3 and this Part come into force on the day on which this Act is passed.

(4) The Secretary of State may by regulations make transitional or saving provision in connection with the coming into force of any provision of Parts 1 and 2 or this Part.

(5) The Secretary of State or the Treasury may by regulations make transitional or saving provision in connection with the coming into force of any provision of Part 3.

(6) Regulations under this section may make different provision for different purposes.

(7) A power to make regulations under this section is exercisable by statutory instrument.

70 Short title

This Act may be cited as the Economic Crime (Transparency and Enforcement) Act 2022.