The Money Laundering Regulations 2007 (revoked)

[F1 Disclosure by the Commissioners U.K.

49A.— (1) The Commissioners may disclose to the Authority information held in connection with their functions under these Regulations if the disclosure is made for the purpose of enabling or assisting the Authority to discharge any of its functions under the Payment Services Regulations 2009 [F2 or the Electronic Money Regulations 2011].

(2) Information disclosed to the Authority under subsection (1) may not be disclosed by the Authority or any person who receives the information directly or indirectly from the Authority except—

(a) to, or in accordance with authority given by, the Commissioners;

(b) with a view to the institution of, or otherwise for the purposes of, any criminal proceedings;

(c) with a view to the institution of any other proceedings by the Authority, for the purposes of any such proceedings instituted by the Authority, or for the purposes of any reference to the Tribunal under the Payment Services Regulations 2009; or

(d) in the form of a summary or collection of information so framed as not to enable information relating to any particular person to be ascertained from it.

(3) Any person who discloses information in contravention of subsection (2) is guilty of an offence and liable—

(a) on summary conviction, to imprisonment for a term not exceeding three months, to a fine not exceeding the statutory maximum, or to both;

(b) on conviction on indictment, to imprisonment for a term not exceeding two years to a fine, or to both.

(4) It is a defence for a person charged with an offence under this regulation of disclosing information to prove that they reasonably believed

(a) that the disclosure was lawful; or

(b) that the information had already and lawfully been made available to the public.]

Textual Amendments

F1 Reg. 49A inserted (1.11.2009) by The Payment Services Regulations 2009 (S.I. 2009/209), reg. 1(2)(c), Sch. 6 para. 6(g)

F2 Words in reg. 49A(1) inserted (9.2.2011) by The Electronic Money Regulations 2011 (S.I. 2011/99), reg. 1(2)(a)(xv), Sch. 4 para. 19(g) (with reg. 3)