- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made).
6.—(1) In regulation 33—
(a)in paragraph (2)—
(i)in the opening words, for “an EEA state” substitute “a third country”;
(ii)for paragraph (a), substitute—
“(a)the entity is—
(i)subject to requirements in national legislation having an equivalent effect to those laid down in the fourth money laundering directive on an obliged entity (within the meaning of that directive); and
(ii)supervised for compliance with those requirements in a manner equivalent to section 2 of Chapter VI of the fourth money laundering directive;”;
(iii)in paragraph (b), after “under” insert “requirements equivalent to those laid down in”;
(b)omit paragraph (8).
(2) In regulation 37—
(a)in paragraph (3)—
(i)in sub-paragraph (a)—
(aa)for paragraph (iii)(aa), substitute—
“(aa)subject to requirements in national legislation having an equivalent effect to those laid down in the fourth money laundering directive on an obliged entity (within the meaning of that directive); and”;
(bb)in paragraph (iii)(bb), for “in accordance with” substitute “in a manner equivalent to”;
(ii)in sub-paragraph (b)(iv), for “an EEA state” substitute “the United Kingdom”;
(iii)in sub-paragraph (c)(i), for “an EEA state” substitute “the United Kingdom”;
(b)in paragraph (6), for paragraph (b), substitute—
“(b)a person who carries on business in a third country who is—
(i)subject to requirements in national legislation having an equivalent effect to those laid down in the fourth money laundering directive on an obliged entity (within the meaning of that directive); and
(ii)supervised for compliance with those requirements in a manner equivalent to section 2 of Chapter VI of the fourth money laundering directive.”;
(c)omit paragraph (7).
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.
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:
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: