PART IIOBLIGATIONS ON PERSONS WHO CARRY ON RELEVANT BUSINESS
Internal reporting procedures7
1
A must maintain internal reporting procedures which require that—
a
a person in A’s organisation is nominated to receive disclosures under this regulation (“the nominated officer”);
b
anyone in A’s organisation to whom information or other matter comes in the course of relevant business as a result of which he knows or suspects or has reasonable grounds for knowing or suspecting that a person is engaged in money laundering must, as soon as is practicable after the information or other matter comes to him, disclose it to the nominated officer or a person authorised for the purposes of these Regulations by the Director General of the F1Serious Organised Crime Agency;
c
where a disclosure is made to the nominated officer, he must consider it in the light of any relevant information which is available to A and determine whether it gives rise to such knowledge or suspicion or such reasonable grounds for knowledge or suspicion; and
d
where the nominated officer does so determine, the information or other matter must be disclosed to a person authorised for the purposes of these Regulations by the Director General of the F2Serious Organised Crime Agency.
2
Paragraph (1) does not apply where A is an individual who neither employs nor acts in association with any other person.
3
Paragraph (1)(b) does not apply in relation to a professional legal adviser where the information or other matter comes to him in privileged circumstances.
4
Information or other matter comes to a professional legal adviser in privileged circumstances if it is communicated or given to him—
a
by (or by a representative of) a client of his in connection with the giving by the adviser of legal advice to the client;
b
by (or by a representative of) a person seeking legal advice from the adviser; or
c
by a person in connection with legal proceedings or contemplated legal proceedings.
5
But paragraph (4) does not apply to information or other matter which is communicated or given with the intention of furthering a criminal purpose.
6
“Professional legal adviser” includes any person in whose hands information or other matter may come in privileged circumstances.