SCHEDULES

SCHEDULE 7Consequential Amendments

Regulation 109

PART 1Consequential Amendments to Primary Legislation

Solicitors (Scotland) Act 19801

In section 34 of the Solicitors (Scotland) Act 1980 M1, after subsection (1C), insert—

1D

Rules made under this section may make provision as to the way in which solicitors and incorporated practices are to comply with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.

Northern Ireland Act 19982

In Schedule 3 to the Northern Ireland Act 1998 (reserved matters) M2—

a

in paragraph 25, for “the Money Laundering Regulations 2007”M3 substitute “the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017”;

b

omit paragraph 25A.

Financial Services and Markets Act 20003

1

FSMA M4 is amended as follows.

2

In section 226 (complaints: the ombudsman scheme etc) after subsection (7) insert—

7A

The rules must provide that a person within subsection (7B) is eligible in relation to a complaint to which subsection (7C) applies.

7B

A person is within this subsection if he or she has been identified by a respondent, in carrying on an activity to which the rules apply, as—

a

a politically exposed person;

b

a family member of a politically exposed person; or

c

a known close associate of a politically exposed person.

7C

This subsection applies to a complaint—

a

that the complainant has been incorrectly identified as a person within subsection (7B); or

b

relating to an act or omission of the respondent in consequence of the identification of the complainant as a person within subsection (7B).

7D

In subsection (7B), “politically exposed person”, “family member” and “known close associate” have the meanings given in regulation 35(12) of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.

3

For the heading of Part 20C (as inserted by the Bank of England and Financial Services Act 2016) M5, substitute “Politically exposed persons: money laundering and terrorist financing”.

4

In section 333U (guidance relating to money laundering and politically exposed persons)—

a

in the heading, after “Money laundering” insert “ and terrorist financing ”; and

b

in subsection (3)—

i

for “Secretary of State” substitute “ Treasury ”; and

ii

in paragraph (b), after “by the FCA” insert “ or under the ombudsman scheme ”.

Terrorism Act 20004

1

The Terrorism Act 2000 M6 is amended as follows.

2

In section 21G (other permitted disclosures etc), in subsection (1)(a), for “the Money Laundering Regulations 2007 (S.I. 2007/2157)” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

3

In section 21H(4), for the words from “Directive 2005/60/EC” to “2005” substitute “ Directive 2015/849/EU of the European Parliament and of the Council of 20th May 2015 M7 ”.

4

Part 1 of Schedule 3A M8 (business in the regulated sector) is amended in accordance with sub-paragraphs (5) to (10).

5

In paragraph 1(1)—

a

in paragraph (b) M9—

i

at the end of sub-paragraph (i), omit “or”;

ii

after sub-paragraph (i), insert—

ia

an undertaking whose only listed activity is as a creditor under an agreement which—

aa

falls within section 12(a) of the Consumer Credit Act 1974 M10 (debtor-creditor-supplier agreements);

bb

provides fixed sum credit (within the meaning given in section 10(1)(b) of the Consumer Credit Act 1974 (running-account credit and fixed-sum credit)) in relation to the provision of services; and

cc

provides financial accommodation by way of deferred payment or payment by instalments over a period not exceeding 12 months; or

b

after paragraph (j) M11, insert—

ja

the carrying on of local audit work within the meaning of Schedule 5 to the Local Audit and Accountability Act 2014 (eligibility and regulation of local auditors) by any firm or individual who is a local auditor within the meaning of section 4(1) of that Act (general requirements for audit);

c

in paragraph (q)—

i

after “involves the” insert “ making or ”;

ii

for “15,000” substitute “ 10,000 ”.

6

In paragraph 1(5)(b), omit “contained in international standards and are”.

7

In paragraph 1(6) M12, at the end of paragraph (c) for “or” substitute “ and ”.

8

In paragraph 2(1)—

a

in paragraph (c) for “25” substitute “ 26 ”;

b

in paragraph (d), at the end, omit “or”;

c

at the end, insert—

g

the carrying on by a local authority (within the meaning given in article 3(1) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001) M13 of an activity which would be a regulated activity for the purposes of the Financial Services and Markets Act 2000 but for article 72G of that Order; or

h

the preparation of a home report, which for these purposes means the documents prescribed for the purposes of sections 98, 99(1) or 101(2) of the Housing (Scotland) Act 2006 M14.

9

In paragraph 2(3)—

a

in paragraph (a), for “£64,000” substitute “£100,000;

b

in paragraph (f), after “(r)” insert “ to (t) ”.

10

In paragraph 3—

a

in sub-paragraph (1), at the appropriate place insert—

“the Capital Requirements Directive” means Directive 2013/36/EU of the European Parliament and of the Council of 26th June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms M15;

b

in sub-paragraph (3)—

i

after “Capital Requirements Regulation” insert “ , the Capital Requirements Directive ”;

ii

after “Part as” insert “ in that Regulation or ”.

11

In Part 2 of Schedule 3A M16 (supervisory authorities), in paragraph 4—

a

in sub-paragraph (1), omit paragraphs (b), (ea) and (f) (but not the “and” after paragraph (f));

b

in sub-paragraph (2)—

i

after paragraph (d), insert—

da

the Chartered Institute of Legal Executives;

ii

omit paragraph (f).

Criminal Justice and Police Act 20015

In the Criminal Justice and Police Act 2001 M17—

a

in section 68(2) (application to Scotland)—

i

in paragraph (g), for “regulation 39(6) of the Money Laundering Regulations 2007”M18 substitute “regulation 70(7) of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017”;

ii

omit paragraph (h);

b

in Part 1 of Schedule 1 (powers of seizure to which section 50 of the 2001 Act applies)—

i

in the heading above paragraph 73J, for “The Money Laundering Regulations 2007” substitute “ The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”;

ii

in paragraph 73J, for “regulation 39(6) of the Money Laundering Regulations 2007” substitute “ regulation 70(7) of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”;

iii

omit paragraph 73K and the heading above it.

Proceeds of Crime Act 20026

1

The Proceeds of Crime Act 2002 M19 is amended as follows.

2

In section 333D (other permitted disclosures etc), in subsection (1)(a) for “the Money Laundering Regulations 2007 (S.I. 2007/2157)” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

3

In section 333E (interpretation), in subsection (4), for the words from “Directive 2005/60/EC”M20 to “2005” substitute “Directive 2015/849/EU of the European Parliament and of the Council of 20th May 2015 M21”.

4

In Part 1 of Schedule 9 M22 (business in the regulated sector), in paragraph 1(1)—

a

in paragraph (b) M23—

i

for “Capital Requirements Regulation”, in both places, substitute “ Capital Requirements Directive ”;

ii

at the end of sub-paragraph (i), omit “or”;

iii

after sub-paragraph (i), insert—

ia

an undertaking whose only listed activity is as a creditor under an agreement which—

aa

falls within section 12(a) of the Consumer Credit Act 1974 M24 (debtor-creditor-supplier agreements);

bb

provides fixed sum credit (within the meaning given in section 10(1)(b) of the Consumer Credit Act 1974 (running-account credit and fixed-sum credit)) in relation to the provision of services; and

cc

provides financial accommodation by way of deferred payment or payment by instalments over a period not exceeding 12 months; or

b

after paragraph (j), insert—

ja

the carrying on of local audit work within the meaning of Schedule 5 to the Local Audit and Accountability Act 2014 M25 (eligibility and regulation of local auditors) by any firm or individual who is a local auditor within the meaning of section 4(1) of that Act (general requirements for audit);

c

in paragraph (q)—

i

after “involves the” insert “ making or ”;

ii

for “15,000” substitute “ 10,000 ”.

5

In paragraph 1(5)(b), omit “contained in international standards and are”.

6

In paragraph 1(6) M26, at the end of paragraph (c) for “or” substitute “ and ”.

7

In paragraph 2—

a

in sub-paragraph (1)(c) for “25” substitute “ 26 ”;

b

in sub-paragraph (1)(d), at the end, omit “or”;

c

at the end, insert—

g

the carrying on by a local authority (within the meaning given in article 3(1) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 M27) of an activity which would be a regulated activity for the purposes of the Financial Services and Markets Act 2000 but for article 72G of that Order M28; or

h

the preparation of a home report, which for these purposes means the documents prescribed for the purposes of sections 98, 99(1) or 101(2) of the Housing (Scotland) Act 2006 M29.

d

in sub-paragraph (3)—

i

in paragraph (a), for “£64,000” substitute “£100,000;

ii

in paragraph (f), after “(r)” insert “ to (t) ”.

8

In paragraph 3—

a

in sub-paragraph (1)—

i

at the appropriate place insert—

“the Capital Requirements Directive” means Directive 2013/36/EU of the European Parliament and of the Council of 26th June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms M30;

ii

at the end of the definition of “the Capital Requirements Regulation insert “ of 26th June 2013 on prudential requirements for credit institutions and investment firms ”; and

b

in sub-paragraph (3)—

i

for “the Banking Consolidation Directive” substitute “ the Capital Requirements Regulation, the Capital Requirements Directive ”;

ii

after “Part as”, insert “ in that Regulation or ”.

9

In Part 2 of Schedule 9 (supervisory authorities), in paragraph 4—

a

in sub-paragraph (1), omit paragraphs (b), (ea) and (f) (but not the “and” after paragraph (f));

b

in sub-paragraph (2)—

i

after paragraph (d), insert—

da

the Chartered Institute of Legal Executives;

ii

omit paragraph (f).

Counter-Terrorism Act 20087

In Schedule 7 to the Counter-Terrorism Act 2008 M31 (terrorist financing and money laundering), for paragraph 45(3), substitute—

3

Unless otherwise defined, expressions used in this Schedule and in Directive 2015/849/EU of the European Parliament and of the Council of 20th May 2015 on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing have the same meaning as in that Directive.

Borders, Citizenship and Immigration Act 20098

In section 1 (general customs functions of the Secretary of State) of the Borders, Citizenship and Immigration Act 2009 M32, in subsection (2)—

a

in paragraph (d), for “Directive 2005/60/EC on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing”M33 substitute “Directive 2015/849/EU of the European Parliament and of the Council of 20th May 2015 on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing M34”;

b

in paragraph (e), for “Regulation (EC) No 1781/2006 on information on the payer accompanying transfers of funds”M35 substitute “Regulation (EU) 2015/847 of the European Parliament and of the Council of 20th May 2015 on information accompanying transfers of funds”.

Annotations:
Marginal Citations
M33

OJ L 309, 25.11. 05, p.15.

M34

OJ L 141, 05.06.15, p.73.

M35

OJ L 345, 8.12. 06, p.1.

Crime and Courts Act 20139

In Schedule 17 (offences in relation to which a deferred prosecution arrangement may be entered into) to the Crime and Courts Act 2013 M36, in paragraph 27, for “regulation 45 of the Money Laundering Regulations 2007 (S.I. 2007/2157)” substitute “ regulation 86 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

Finance Act 201410

In Schedule 34 to the Finance Act 2014 M37, in paragraph 6(4)(j) (criminal offences) for “regulation 45(1) of the Money Laundering Regulations 2007 (S.I. 2007/2157)” substitute “ regulation 86(1) of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

Bank of England and Financial Services Act 201611

In the Bank of England and Financial Services Act 2016—

a

in the italic heading above section 30, after “Money laundering” insert “ and terrorist financing ”;

b

in section 30 (politically exposed persons: money laundering) M38—

i

in the heading, after “Money laundering” insert “ and terrorist financing ”; and

ii

in subsection (1) for “Secretary of State” substitute “ Treasury ”.

PART 2Consequential Amendments to Secondary Legislation

Estate Agents (Undesirable Practices) (No 2) Order 199112

Schedule 3 (other matters) to the Estate Agents (Undesirable Practices) (No 2) Order 1991 M39 is amended as follows—

a

at the beginning of paragraph 2, insert “ Subject to paragraph 2A ”;

b

after paragraph 2, insert—

2A

Paragraph 2 does not apply if the estate agent does not forward accurate details of the offer because the estate agent is unable to apply the customer due diligence measures required by regulation 28, and where relevant, those required by regulations 33, and 35 to 37 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 in relation to the offeror.

Public Interest Disclosure (Prescribed Persons) Order (Northern Ireland) 199913

In the Schedule (description of persons and matters) to the Public Interest Disclosure (Prescribed Persons) Order (Northern Ireland) 1999 M40—

a

in the entry relating to Her Majesty's Revenue and Customs, in column 2, for “regulation 23(1)(d)(vii) of the Money Laundering Regulations 2007” substitute “ regulation 7(1)(c)(vii) of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”;

b

in the appropriate place, insert the following entry—

National Crime Agency

Matters relating to compliance with—

a

the Terrorism Act 2000;

b

the Proceeds of Crime Act 2002; or

c

the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017

Annotations:
Marginal Citations
M40

S.I. 1999/401. The Schedule was substituted by S.R. (N.I.) 2014 No 48. There are other amendments which are not relevant to these Regulations.

Terrorism Act 2000 (Crown Servants and Regulators) Regulations 200114

In the meaning of “relevant business” in regulation 2 (interpretation) of the Terrorism Act 2000 (Crown Servants and Regulators) Regulations 2001 M41 for “regulation 3(1)(a) to (h) of the Money Laundering Regulations 2007” substitute “ regulation 8(2)(a) to (h) of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

Representation of the People (England and Wales) Regulations 200115

In regulation 114(3)(b) in the Representation of the People (England and Wales) Regulations 2001 M42 (sale of full register to credit reference agencies), for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

Representation of the People (Scotland) Regulations 200116

In regulation 113(3)(b) in the Representation of the People (Scotland) Regulations 2001 M43 (sale of full register to credit reference agencies), for “the Money Laundering Regulations 2007” substitute “ Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

Financial Services and Markets Act 2000 (Regulated Activities) Order 200117

In article 72E(9) in the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 M44 (Business and Angel-led Enterprise Capital Funds) for “the Money Laundering Regulations 2007”M45 substitute “the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017”.

Open-Ended Investment Companies Regulations 200118

Regulation 48 (bearer shares) of the Open-Ended Investment Companies Regulations 2001 M46 is amended as follows—

a

the existing text is renumbered as paragraph (1);

b

in that paragraph (1), after “investment company” insert “ authorised before the day on which the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came into force (“the relevant date”) ”;

c

after paragraph (1) insert—

2

An open-ended investment company authorised on or after the relevant date may not issue any bearer shares under paragraph (1), and any provision in the instrument of incorporation of such an open-ended investment company purporting to authorise it to do so is void.

3

Paragraph (2) does not apply to an open-ended investment company if—

a

an application for an authorisation order was made in relation to that open-ended investment company before the relevant date; and

b

that application was not determined until a date on or after the relevant date.

Proceeds of Crime Act 2002 (Disclosure of information to and by Lord Advocate and Scottish Ministers) Order 200319

In article 3(d) (disclosure of information by Lord Advocate and by Scottish Ministers) of the Proceeds of Crime Act 2002 (Disclosure of Information to and by Lord Advocate and Scottish Ministers) Order 2003 M47 for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

Proceeds of Crime Act 2002 (Failure to Disclose Money Laundering: Specified Training) Order 200320

In article 2 of the Proceeds of Crime Act 2002 (Failure to Disclose Money Laundering: Specified Training) Order 2003 M48 (training specified), for “regulation 21 of the Money Laundering Regulations 2007” substitute “ regulation 24 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

Legislative and Regulatory Reform (Regulatory Functions) Order 200721

1

Part 1 of the Schedule to the Legislative and Regulatory Reform (Regulatory Functions) Order 2007 M49 is amended as follows.

2

In the reference to “Her Majesty's Revenue and Customs” for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

3

In the reference to a “professional body” for “Schedule 3 to the Money Laundering Regulations 2007” substitute “ Schedule 1 to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

Annotations:
Marginal Citations
M49

S.I. 2007/3544. The references to Her Majesty's Revenue and Customs and a professional body were amended by S.I. 2009/2981. There are other amendments to the Schedule which are not relevant to these Regulations.

Representation of the People (Northern Ireland) Regulations 200822

In regulation 112(3)(b) of the Representation of the People (Northern Ireland) Regulations 2008 M50 (sale of full register etc to credit reference agencies), for paragraph (i), substitute—

i

the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017;

Transfer of Tribunal Functions and Revenue and Customs Appeals Order 200923

In paragraph 2(6) of Schedule 3 (transitional and saving provisions) to the Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 M51, in the definition of “review and appeal provisions”—

a

in paragraph (i) for “regulations 43 and 44 of the Money Laundering Regulations 2007” substitute “ regulations 94 to 100 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”;

b

omit paragraph (j).

Payment Services Regulations 200924

1

The Payment Services Regulations 2009 M52 are amended as follows.

2

In regulation 2(1) (interpretation) M53, in the definition of “the money laundering directive” for “Directive 2005/60/EC of the European Parliament and of the Council of 26th October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing” substitute “ Directive 2015/849/EU of the European Parliament and of the Council of 20th May 2015 on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing ”.

3

In regulation 6(7) (conditions for authorisation as a payment institution) for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

4

In regulation 13 (conditions for registration as a small payment institution)—

a

in sub-paragraph (a) of paragraph (4) for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”,

b

in paragraph (6) for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

5

In regulation 25(4)(a) (supervision of firms exercising passport rights) for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

6

In regulation 29 (use of agents)—

a

in sub-paragraph (a)(ii)(aa) of paragraph (3) for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”,

b

in subparagraph (c)(i) of paragraph (6) for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

7

In regulation 119(2) (duty to co-operate and exchange of information) for “regulation 49A of the Money Laundering Regulations 2007” substitute “ regulation 105 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

8

In paragraph 6 of Schedule 2 (information to be included in or with an application for authorisation)—

a

for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”;

b

for “Regulation (EC) No 1781/2006 of the European Parliament and of the Council of 15 November 2006 on information on the payer accompanying transfers of funds”M54 substitute “Regulation 2015/847/EU of the European Parliament and of the Council of 20 May 2015 on information accompanying transfers of funds”M55.

9

In paragraph 3(d)(ii) in Part 1 of Schedule 5 M56 (application and modification of the Financial Services and Markets Act 2000) for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

10

In paragraph 10(h) in Part 2 of Schedule 5 M57 (application and modification of secondary legislation) for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

Annotations:
Marginal Citations
M53

Regulation 2(1) was amended, but those amendments are not relevant to these Regulations.

M54

OJ L 345, 8.12.2006, p.1.

M55

OJ L 141, 05.06.2015, p.1.

M57

Paragraph 10(h) was amended by S.I. 2015/1911.

Companies (Disclosure of Address) Regulations 200925

In paragraph 7(b) of Schedule 2 (disclosure to a credit reference agency) of the Companies (Disclosure of Address) Regulations 2009 M58—

a

for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”;

b

for “Directive 2005/60/EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing”M59 substitute “Directive 2015/849/EU of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing”M60.

Annotations:
Marginal Citations
M58

S.I. 2009/214. Paragraph 7(b) was amended by S.I. 2013/472.

M59

OJ L 309, 25.11. 05, p15.

M60

OJ L 141, 05.06.15, p73.

Overseas Companies Regulations 200926

In paragraph 7(b) of Schedule 2 (disclosure to a credit reference agency) of the Overseas Companies Regulations 2009 M61—

a

for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”;

b

for “Directive 2005/60/EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing” substitute “ Directive 2015/849/EU of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing ”.

Defence and Security Public Contracts Regulations 201127

In regulation 23(1)(i) of Part 4 (criteria for the rejection of economic operators) to the Defence and Security Public Contracts Regulations 2011 M62, at the end insert “ or of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

Electronic Money Regulations 201128

1

The Electronic Money Regulations 2011 M63 are amended as follows.

2

In regulation 2(1) (interpretation), in the definition of “money laundering directive” for “Directive 2005/60/EC of the European Parliament and of the Council of 26th October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing”M64 substitute “Directive 2015/849/EU of the European Parliament and of the Council of 20th May 2015 on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing”M65.

3

In regulation 6(7) (conditions for authorisation) for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

4

In regulation 13 (conditions for registration) —

a

in subparagraph (a) of paragraph (8) for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”;

b

in paragraph (10) for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

5

In regulation 30(4)(a) (supervision of firms exercising passport rights) for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

6

In regulation 34 (requirement for agents to be registered)—

a

in subparagraph (a)(ii)(aa) in paragraph (3) for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”;

b

in subparagraph (c)(i) in paragraph (6) for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

7

In regulation 71(2) (duty to cooperate and exchange information), in the words before sub-paragraph (a), for “regulation 49A of the Money Laundering Regulations 2007” substitute “ regulation 105 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

8

In paragraph 6 of Schedule 1 (information to be included in or with an application for authorisation)—

a

for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”;

b

for “Regulation (EC) No 1781/2006 of the European Parliament and of the Council of 15 November 2006 on information on the payer accompanying transfers of funds”M66 substitute “Regulation 2015/847/EU of the European Parliament and of the Council of 20 May 2015 on information accompanying transfers of funds”M67.

Annotations:
Marginal Citations
M64

OJ No L 309, 25.11. 05, p15.

M65

OJ No L 141, 05.06.15, p73.

M66

OJ No L 345, 8.12. 06, p1.

M67

OJ L 141, 05.06.2015, p.1.

Terrorism Act 2000 and Proceeds of Crime Act 2002 (Business in the Regulated Sector) (No 2) Order 201229

1

Regulation 4 (review) of the Terrorism Act 2000 and Proceeds of Crime Act 2002 (Business in the Regulated Sector) (No 2) Order 2012 M68 is amended as follows.

2

In paragraph (2) for “Directive 2005/60/EC of the European Parliament and of the Council on the protection of the use of the financial system for the purpose of money laundering and terrorist financing” substitute “ Directive 2015/849/EU of the European Parliament and of the Council of 20th May 2015 on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing ”M69 .

3

In paragraph (4) for “the end of the period of five years beginning with the day on which this Order comes into force” substitute “ 26th June 2022 ”.

Annotations:
Marginal Citations
M69

OJ L 141, 05.06.15, p.73.

Payment to Treasury of Penalties (Enforcement Costs) Order 201330

In regulation 2(1)(d) (enforcement of powers) of the Payment to Treasury of Penalties (Enforcement Costs) Order 2013 M70 for “regulation 42 of the Money Laundering Regulations 2007” substitute “ regulation 76 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

Public Interest Disclosure (Prescribed Persons) Order 201431

In the Schedule (description of persons and matters) to the Public Interest Disclosure (Prescribed Persons) Order 2014 M71, in the entry relating to the National Crime Agency, for the words in the second column substitute—

Matters relating to—

a

corrupt individuals or companies offering or receiving bribes to secure a benefit for themselves or others;

b

compliance with—

i

the Terrorism Act 2000;

ii

the Proceeds of Crime Act 2002; or

iii

the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017

Annotations:
Marginal Citations
M71

S.I. 2014/2418. There are amendments to the Schedule, but they are not relevant to these Regulations.

Companies (Disclosure of Date of Birth Information) Regulations 201532

In paragraph 7(b) of Schedule 2 (disclosure to a credit reference agency) to the Companies (Disclosure of Date of Birth Information) Regulations 2015 M72—

a

for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”;

b

for “Directive 2005/60/EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing”M73 substitute “Directive 2015/849/EU of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing”.

Annotations:
Marginal Citations
M73

OJ L 309, 25.11. 05, p.15.

Payment Accounts Regulations 201533

In regulation 25(1)(b) of Part 4 (refusal of application) in the Payment Accounts Regulation 2015 M74 for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.

Register of People with Significant Control Regulations 201634

In paragraph 8(b) of Schedule 4 (disclosure to a credit reference agency) of the Register of People with Significant Control Regulations 2016 M75—

a

in paragraph (i) for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”;

b

in paragraph (iii) for “Directive 2005/60/EC of the European Parliament and of the Council on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing” substitute “ Directive 2015/849/EU of the European Parliament and of the Council on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing ”.

Economic Growth (Regulatory Functions) Order 201735

In Part 1 of the Schedule to the Economic Growth (Regulatory Functions) Order 2017 M76, in the entry for Her Majesty's Revenue and Customs, for “the Money Laundering Regulations 2007” substitute “ the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ”.