PART 2Implementation of EU law

Reporting discrepancies: generalI14

1

In regulation 30A(2)(b) (requirement to report discrepancies in registers)6, after “carrying out its duties under these Regulations” insert “when establishing a business relationship with the customer”.

2

In regulation 37(2)(a) (simplified due diligence)—

a

for “regulation 28” substitute “regulations 28 and 30A”;

b

for “that regulation” substitute “regulation 28”.

3

In regulation 39 (reliance)—

a

in paragraph (1), after “regulation 28(2) to (6) and (10)” insert “, or to carry out any of the measures required by regulation 30A,”;

b

in paragraph (2)—

i

after “apply customer due diligence measures” insert “or carry out any of the measures required by regulation 30A”;

ii

in sub-paragraph (a), after “regulation 28(2) to (6) and (10)” insert “and regulation 30A”;

c

in paragraph (7), after “applying customer due diligence measures” insert “, or carrying out any of the measures required by regulation 30A,”.

4

In regulation 40(2)(a) (record keeping), after “regulations 28, 29 and 33 to 37” insert “and the requirements of regulation 30A”.