- Latest available (Revised)
- Point in Time (12/12/2011)
- Original (As made)
Version Superseded: 15/12/2007
Point in time view as at 12/12/2011. This version of this provision has been superseded.
You are viewing this legislation item as it stood at a particular point in time. A later version of this or provision, including subsequent changes and effects, supersedes this version.
Note the term provision is used to describe a definable element in a piece of legislation that has legislative effect – such as a Part, Chapter or section.
There are currently no known outstanding effects for the The Money Laundering Regulations 2007 (revoked), Section 23.
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
23.—(1) Subject to paragraph (2), the following bodies are supervisory authorities—
(a)the Authority is the supervisory authority for—
(i)credit and financial institutions which are authorised persons;
(ii)trust or company service providers which are authorised persons;
(iii)Annex I financial institutions;
[F1(iv)electronic money institutions;]
[F2(v)auction platforms;]
(b)the OFT is the supervisory authority for—
(i)consumer credit financial institutions;
(ii)estate agents;
(c)each of the professional bodies listed in Schedule 3 is the supervisory authority for relevant persons who are regulated by it;
(d)the Commissioners are the supervisory authority for—
(i)high value dealers;
(ii)money service businesses which are not supervised by the Authority;
(iii)trust or company service providers which are not supervised by the Authority or one of the bodies listed in Schedule 3;
(iv)auditors, external accountants and tax advisers who are not supervised by one of the bodies listed in Schedule 3.
[F3(v)bill payment service providers which are not supervised by the Authority;]
[F3(vi)telecommunication, digital and IT payment service providers which are not supervised by the Authority.]
(e)the Gambling Commission is the supervisory authority for casinos;
(f)DETI is the supervisory authority for—
(i)credit unions in Northern Ireland;
(ii)insolvency practitioners authorised by it under article 351 of the Insolvency (Northern Ireland) Order 1989;
(g)the Secretary of State is the supervisory authority for insolvency practitioners authorised by him under section 393 of the Insolvency Act 1986 M1 (grant, refusal and withdrawal of authorisation).
(2) Where under paragraph (1) there is more than one supervisory authority for a relevant person, the supervisory authorities may agree that one of them will act as the supervisory authority for that person.
(3) Where an agreement has been made under paragraph (2), the authority which has agreed to act as the supervisory authority must notify the relevant person or publish the agreement in such manner as it considers appropriate.
(4) Where no agreement has been made under paragraph (2), the supervisory authorities for a relevant person must cooperate in the performance of their functions under these Regulations.
Textual Amendments
F1Reg. 23(1)(a)(iv) inserted (9.2.2011 for specified purposes, 30.4.2011 in so far as not already in force) by The Electronic Money Regulations 2011 (S.I. 2011/99), reg. 1(2), Sch. 4 para. 19(f) (with reg. 3)
F2Reg. 23(1)(a)(v) inserted (12.12.2011) by The Recognised Auction Platforms Regulations 2011 (S.I. 2011/2699), regs. 1(2)(a), 11(5)
F3Reg. 23(1)(d)(v)(vi) inserted (1.11.2009) by The Payment Services Regulations 2009 (S.I. 2009/209), reg. 1(2)(c), Sch. 6 para. 6(d)
Marginal Citations
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: