2024 No. 551
The Proceeds of Crime Act 2002 (Search, Recovery of Cryptoassets and Investigations: Codes of Practice) Regulations 2024
Made
Coming into force
The Secretary of State makes these Regulations in exercise of the powers conferred by section 47S(4) and (5), section 303G(5) (as applied by section 303Z25(1)) and section 377(4) and (8) of the Proceeds of Crime Act 2002 (“the 2002 Act”)1.
A draft of this instrument has been laid before Parliament under section 459(6) and (6ZB) of the 2002 Act and has been approved by a resolution of each House of Parliament.
The Secretary of State has—
- a
under section 47S(5) of the 2002 Act2, revised the code of practice issued under section 47S(1) of the 2002 Act and, in accordance with section 47S(2)(a), (b) and (c), (2A) and (3), published a draft of the revised code of practice, considered any representations made about the draft, modified the draft as the Secretary of State thought appropriate in the light of any such representations, consulted the Attorney General about the draft in its application to the exercise of powers by Serious Fraud Office (“SFO”) officers and the Director of the SFO and laid the draft before Parliament;
- b
under section 303G of the 2002 Act3, as applied by section 303Z25, made a code of practice and, in accordance with section 303G(2)(a), (b) and (c), (3) and (4) as so applied, published a draft of the code of practice, considered any representations made about the draft by the Scottish Ministers, the Department of Justice or any other person, modified the draft as the Secretary of State thought appropriate in the light of any such representations, consulted the Attorney General about the draft in its application to the exercise of powers by SFO officers and the Director of the SFO and laid the draft before Parliament;
- c
under section 377(8) of the 2002 Act4, revised the code of practice issued under section 377(1) of the 2002 Act and, in accordance with section 377(2)(a), (b) and (c), (2A) and (3), published a draft of the revised code of practice, considered any representations made about the draft, modified the draft as the Secretary of State thought appropriate in the light of any such representations, consulted the Treasury about the draft in its application to functions that Financial Conduct Authority officers have under Chapter 2 of Part 8 of the 2002 Act and laid the revised code of practice before Parliament.
Citation, commencement and extent1
1
These Regulations may be cited as the Proceeds of Crime Act 2002 (Search, Recovery of Cryptoassets and Investigations: Codes of Practice) Regulations 2024 and come into force on 26th April 2024.
2
These Regulations extend to England and Wales, Scotland and Northern Ireland, except as follows—
a
regulations 2(a) and 4(a) extend to England and Wales only;
b
regulations 2(b) and 4(b) extend to England and Wales and Northern Ireland only.
Revised codes of practice2
The revised codes of practice with the following titles, each laid before Parliament in draft on 22nd January 2024, come into operation on 26th April 2024—
a
“Code of Practice issued under section 47S of the Proceeds of Crime Act 2002: Search, Seizure and Detention of Property (England and Wales)”;
b
“Code of Practice issued under section 377 of the Proceeds of Crime Act 2002: Investigations”.
New code of practice3
The code of practice entitled “Code of Practice issued under section 303Z25 of the Proceeds of Crime Act 2002: Recovery of Cryptoassets and Related Items — Search Powers” and laid before Parliament in draft on 22nd January 2024 comes into operation on 26th April 2024.
Revocations4
The following instruments are revoked—
a
the Proceeds of Crime Act 2002 (Search, Seizure and Detention of Property: Code of Practice) Order 20185;
b
the Proceeds of Crime Act 2002 (Investigations: Code of Practice) Order 20216.
(This note is not part of the Regulations)