The Money Laundering Regulations 2003

  1. Introductory Text

  2. PART I GENERAL

    1. 1.Citation, commencement etc.

    2. 2.Interpretation

  3. PART II OBLIGATIONS ON PERSONS WHO CARRY ON RELEVANT BUSINESS

    1. 3.Systems and training etc. to prevent money laundering

    2. 4.Identification procedures

    3. 5.Exceptions

    4. 6.Record-keeping procedures

    5. 7.Internal reporting procedures

    6. 8.Casinos

  4. PART III MONEY SERVICE OPERATORS AND HIGH VALUE DEALERS

    1. Registration

      1. 9.Registers of money service operators and high value dealers

      2. 10.Requirement to be registered

      3. 11.Supplementary information

      4. 12.Determination of application to register

      5. 13.Cancellation of registration

      6. 14.Fees

    2. Powers of the Commissioners

      1. 15.Entry, inspection etc.

      2. 16.Order for access to recorded information

      3. 17.Procedure where recorded information is removed

      4. 18.Failure to comply with requirements under regulation 17

      5. 19.Entry, search etc.

    3. Penalties, review and appeals

      1. 20.Power to impose penalties

      2. 21.Review procedure

      3. 22.Appeals to a VAT and duties tribunal

    4. Miscellaneous

      1. 23.Prosecution of offences by the Commissioners

      2. 24.Recovery of fees and penalties through the court

      3. 25.Authorised persons operating a bureau de change

  5. PART IV MISCELLANEOUS

    1. 26.Supervisory authorities etc. to report evidence of money laundering

    2. 27.Offences by bodies corporate etc.

    3. 28.Prohibitions in relation to certain countries

    4. 29.Minor and consequential amendments

    5. 30.Transitional provisions

  6. Signature

    1. SCHEDULE 1

      ACTIVITIES LISTED IN ANNEX 1 TO THE BANKING CONSOLIDATION DIRECTIVE

      1. 1.Acceptance of deposits and other repayable funds.

      2. 2.Lending.

      3. 3.Financial leasing.

      4. 4.Money transmission services.

      5. 5.Issuing and administering means of payment (eg credit cards, travellers'...

      6. 6.Guarantees and commitments.

      7. 7.Trading for own account or for account of customers in—...

      8. 8.Participation in securities issues and the provision of services related...

      9. 9.Advice to undertakings on capital structure, industrial strategy and related...

      10. 10.Money broking.

      11. 11.Portfolio management and advice.

      12. 12.Safekeeping and administration of securities.

      13. 13.Credit reference services.

      14. 14.Safe custody services.

    2. SCHEDULE 2

      MINOR AND CONSEQUENTIAL AMENDMENTS

      1. PART I Primary Legislation

        1. Value Added Tax Act 1994 (c. 23)

          1. 1.(1) Section 83 of the Value Added Tax Act 1994...

        2. Northern Ireland Act 1998 (c. 47)

          1. 2.(1) Paragraph 25 of Schedule 3 (reserved matters) to the...

      2. PART II Secondary Legislation

        1. The Cross-Border Credit Transfers Regulations 1999 (S.I. 1999/1876)

          1. 3.(1) Regulation 12 of the Cross-Border Credit Transfers Regulations 1999...

        2. The Terrorism Act 2000 (Crown Servants and Regulators) Regulations 2001 (S.I. 2001/192)

          1. 4.(1) The Terrorism Act 2000 (Crown Servants and Regulators) Regulations...

        3. The Representation of the People (England and Wales) Regulations 2001 (S.I. 2001/341)

          1. 5.(1) The Representation of the People (England and Wales) Regulations...

        4. The Representation of the People (Northern Ireland) Regulations 2001 (S.I. 2001/400)

          1. 6.(1) The Representation of the People (Northern Ireland) Regulations 2001...

        5. The Representation of the People (Scotland) Regulations 2001 (S.I. 2001/497)

          1. 7.(1) The Representation of the People (Scotland) Regulations 2001 are...

        6. The Proceeds of Crime Act 2002 (Failure to Disclose Money Laundering: Specified Training)Order 2003 (S.I. 2003/171)

          1. 8.(1) The Proceeds of Crime Act 2002 (Failure to Disclose...

  8. Explanatory Note