The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2022

Proceeds of Crime Act 2002

This section has no associated Explanatory Memorandum

5.—(1) Schedule 9 to the Proceeds of Crime Act 2002(1) is amended as follows.

(2) In paragraph 1(1)(b)(2) (business in the regulated sector), for “Annex 1 to the Capital Requirements Directive”, in both places where it appears, substitute “Schedule 2 to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017”.

(3) In paragraph 3(3) (interpretation)—

(a)in sub-paragraph (1), omit the definition of “the Capital Requirements Directive”;

(b)in sub-paragraph (3)—

(i)omit “, the Capital Requirements Directive”;

(ii)for “those Directives” substitute “that Directive”.

(2)

Schedule 9 was amended by S.I. 2017/692.

(3)

Paragraph 3 of Schedule 9 was amended by S.I. 2017/692. There are other amendments to this paragraph which are not relevant.