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2.—(1) A relevant institution must as soon as practicable inform the Treasury if it knows or suspects that a relevant person—
(a)is a person referred to in paragraph 1(a) to (d) of this Schedule; or
(b)has committed an offence under article 6, 7, 8, 10 or 11.
(2) A relevant institution, where it informs the Treasury under sub-paragraph (1), must state—
(a)the information or other matter on which the knowledge or suspicion is based;
(b)any information it holds about the relevant person by which the person can be identified; and
(c)the nature and amount or quantity of any funds or economic resources held by the relevant institution for the relevant person since the 2001 Order came into force(1).
(3) A relevant institution that fails to comply with a requirement in paragraph (1) or (2) is guilty of an offence.
(4) In this paragraph, “relevant person” means—
(a)a customer of the institution;
(b)a person who has been a customer of the institution since the 2001 Order came into force; or
(c)a person with whom the institution has had dealings in the course of its business since then.
The Order referred to came into force on 10th October 2001.
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