An Act to make provision about the jurisdiction of courts in England and Wales in relation to certain offences of dishonesty and blackmail; to amend the law about drug trafficking offences and to implement provisions of the Community Council Directive No. 91/308/EEC; to amend Part VI of the Criminal Justice Act 1988; to make provision with respect to the financing of terrorism, the proceeds of terrorist-related activities and the investigation of terrorist activities; to amend Part I of the Criminal Justice Act 1991; to implement provisions of the Community Council Directive No. 89/592/EEC and to amend and restate the law about insider dealing in securities; to provide for certain offences created by the Banking Coordination (Second Council Directive) Regulations 1992 to be punishable in the same way as offences under sections 39, 40 and 41 of the Banking Act 1987 and to enable regulations implementing Article 15 of the Community Council Directive No. 89/646/EEC and Articles 3, 6 and 7 of the Community Council Directive No. 92/30/EEC to create offences punishable in that way; to make provision with respect to the penalty for causing death by dangerous driving or causing death by careless driving while under the influence of drink or drugs; to make it an offence to assist in or induce certain conduct which for the purposes of, or in connection with, the provisions of Community law is unlawful in another member State; to provide for the introduction of safeguards in connection with the return of persons under backing of warrants arrangements; to amend the Criminal Procedure (Scotland) Act 1975 and Part I of the Prisoners and Criminal Proceedings (Scotland) Act 1993; and for connected purposes.
[27th July 1993]
Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—
Extent Information
E1Act extends to England and Wales only, but for exceptions see s. 79(2)-(9)
(1)This Part applies to two groups of offences—
(a)any offence mentioned in subsection (2) (a “Group A offence”); and
(b)any offence mentioned in subsection (3) (a “Group B offence”).
(2)The Group A offences are—
(a)an offence under any of the following provisions of the M1Theft Act 1968—
section 1 (theft);
section 15 (obtaining property by deception);
[F1section 15A (obtaining a money transfer by deception);]
section 16 (obtaining pecuniary advantage by deception);
section 17 (false accounting);
section 19 (false statements by company directors, etc.);
section 20(2) (procuring execution of valuable security by deception);
section 21 (blackmail);
section 22 (handling stolen goods);
[F2section 24A (retaining credits from dishonest sources, etc.]
(b)an offence under either of the following provisions of the M2Theft Act 1978—
section 1 (obtaining services by deception);
section 2 (avoiding liability by deception);
(c)an offence under any of the following provisions of the M3Forgery and Counterfeiting Act 1981—
section 1 (forgery);
section 2 (copying a false instrument);
section 3 (using a false instrument);
section 4 (using a copy of a false instrument);
section 5 (offences which relate to money orders, share certificates, passports, etc.);
[F3section 14 (offences of counterfeiting notes and coins);
F3section 15 (offences of passing etc counterfeit notes and coins);
F3section 16 (offences involving the custody or control of counterfeit notes and coins);
F3section 17 (offences involving the making or custody or control of counterfeiting materials and implements);
F3section 20 (prohibition of importation of counterfeit notes and coins);
F3section 21 (prohibition of exportation of counterfeit notes and coins);]
(d)the common law offence of cheating in relation to the public revenue.
(3)The Group B offences are—
(a)conspiracy to commit a Group A offence;
(b)conspiracy to defraud;
(c)attempting to commit a Group A offence;
(d)incitement to commit a Group A offence.
(4)The Secretary of State may by order amend subsection (2) or (3) by adding or removing any offence.
(5)The power to make such an order shall be exercisable by statutory instrument.
(6)No order shall be made under subsection (4) unless a draft of it has been laid before and approved by a resolution of each House of Parliament.
Textual Amendments
F1S. 1(2): entry relating to s. 15A inserted (18.12.1996) by 1996 c. 62, s. 3(2)
F2S. 1(2): entry relating to s. 24A inserted (18.12.1996) by 1996 c. 62, s. 3(3)
F3Entries in s. 1(2)(c) inserted (1.8.2000) by S.I. 2000/1878, art. 2
Marginal Citations
(1)For the purposes of this Part, “relevant event”, in relation to any Group A offence, means any act or omission or other event (including any result of one or more acts or omissions) proof of which is required for conviction of the offence.
(2)For the purpose of determining whether or not a particular event is a relevant event in relation to a Group A offence, any question as to where it occurred is to be disregarded.
(3)A person may be guilty of a Group A offence if any of the events which are relevant events in relation to the offence occurred in England and Wales.
(1)A person may be guilty of a Group A or Group B offence whether or not—
(a)he was a British citizen at any material time;
(b)he was in England and Wales at any such time.
(2)On a charge of conspiracy to commit a Group A offence, or on a charge of conspiracy to defraud in England and Wales, the defendant may be guilty of the offence whether or not—
(a)he became a party to the conspiracy in England and Wales;
(b)any act or omission or other event in relation to the conspiracy occurred in England and Wales.
(3)On a charge of attempting to commit a Group A offence, the defendant may be guilty of the offence whether or not—
(a)the attempt was made in England and Wales;
(b)it had an effect in England and Wales.
(4)Subsection (1)(a) does not apply where jurisdiction is given to try the offence in question by an enactment which makes provision by reference to the nationality of the person charged.
(5)Subsection (2) does not apply in relation to any charge under the M4Criminal Law Act 1977 brought by virtue of section 1A of that Act.
(6)Subsection (3) does not apply in relation to any charge under the M5Criminal Attempts Act 1981 brought by virtue of section 1A of that Act.
In relation to a Group A or Group B offence—
(a)there is an obtaining of property in England and Wales if the property is either despatched from or received at a place in England and Wales; and
(b)there is a communication in England and Wales of any information, instruction, request, demand or other matter if it is sent by any means—
(i)from a place in England and Wales to a place elsewhere; or
(ii)from a place elsewhere to a place in England and Wales.
F4(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2)The following section shall be inserted in the M6Criminal Attempts Act 1981, after section 1—
(1)If this section applies to an act, what the person doing the act had in view shall be treated as an offence to which section 1(1) above applies.
(2)This section applies to an act if—
(a)it is done in England and Wales, and
(b)it would fall within section 1(1) above as more than merely preparatory to the commission of a Group A offence but for the fact that that offence, if completed, would not be an offence triable in England and Wales.
(3)In this section “Group A offence” has the same meaning as in Part 1 of the Criminal Justice Act 1993.
(4)Subsection (1) above is subject to the provisions of section 6 of the Act of 1993 (relevance of external law).
(5)Where a person does any act to which this section applies, the offence which he commits shall for all purposes be treated as the offence of attempting to commit the relevant Group A offence.”.
(3)A person may be guilty of conspiracy to defraud if—
(a)a party to the agreement constituting the conspiracy, or a party’s agent, did anything in England and Wales in relation to the agreement before its formation, or
(b)a party to it became a party in England and Wales (by joining it either in person or through an agent), or
(c)a party to it, or a party’s agent, did or omitted anything in England and Wales in pursuance of it,
and the conspiracy would be triable in England and Wales but for the fraud which the parties to it had in view not being intended to take place in England and Wales.
(4)A person may be guilty of incitement to commit a Group A offence if the incitement—
(a)takes place in England and Wales; and
(b)would be triable in England and Wales but for what the person charged had in view not being an offence triable in England and Wales.
(5)Subsections (3) and (4) are subject to section 6.
Textual Amendments
F4S. 5(1) repealed (4.9.1998) by 1998 c. 40, s. 9(1)(2), Sch. 1 Pt. II para. 7(1), Sch. 2 Pt. II (with s. 9(3))
Commencement Information
I1S. 5 partly in force; s. 5 not in force at Royal Assent see s. 78; s. 5(2) in force at (1.6.1999) by S.I. 1999/1189, art. 2; s. 5(3)-(5) in force at (1.6.1999) by S.I. 1999/1499, art. 2
Marginal Citations
(1)A person is guilty of an offence triable F5. . . by virtue of section 5(3), only if the pursuit of the agreed course of conduct would at some stage involve—
(a)an act or omission by one or more of the parties, or
(b)the happening of some other event,
constituting an offence under the law in force where the act, omission or other event was intended to take place.
(2)A person is guilty of an offence triable by virtue of section 1A of the M7Criminal Attempts Act 1981, or by virtue of section 5(4), only if what he had in view would involve the commission of an offence under the law in force where the whole or any part of it was intended to take place.
(3)Conduct punishable under the law in force in any place is an offence under that law for the purposes of this section, however it is described in that law.
(4)Subject to subsection (6), a condition specified in subsection (1) or (2) shall be taken to be satisfied unless, not later than rules of court may provide, the defence serve on the prosecution a notice—
(a)stating that, on the facts as alleged with respect to the relevant conduct, the condition is not in their opinion satisfied;
(b)showing their grounds for that opinion; and
(c)requiring the prosecution to show that it is satisfied.
(5)In subsection (4) “the relevant conduct” means—
(a)where the condition in subsection (1) is in question, the agreed course of conduct; and
(b)where the condition in subsection (2) is in question, what the defendant had in view.
(6)The court, if it thinks fit, may permit the defence to require the prosecution to show that the condition is satisfied without the prior service of a notice under subsection (4).
(7)In the Crown Court, the question whether the condition is satisfied shall be decided by the judge alone.
(8)The following paragraph shall be inserted in section 9(3) of the M8Criminal Justice Act 1987 (preparatory hearing in a case of serious fraud), before paragraph (b)—
“(aa)a question arising under section 6 of the Criminal Justice Act 1993 (relevance of external law to certain charges of conspiracy, attempt and incitement);”.
Textual Amendments
F5Words in s. 6(1) repealed (4.9.1998) by 1998 c. 40, s. 9(1)(2), Sch. 1 Pt. II para. 7(2), Sch. 2 Pt. II (with s. 9(3))
Marginal Citations
(1)The following section shall be inserted in the M9Criminal Justice (Scotland) Act 1987, after section 42—
(1)A person is guilty of an offence if, knowing that any property is, or in whole or in part directly or indirectly represents, another person’s proceeds of drug trafficking, he acquires or uses that property or has possession of it.
(2)It is a defence to a charge of committing an offence under this section that the person charged acquired or used the property or had possession of it for adequate consideration.
(3)For the purposes of subsection (2) above—
(a)a person acquires property for inadequate consideration if the value of the consideration is significantly less than the value of the property; and
(b)a person uses or has possession of property for inadequate consideration if the value of the consideration is significantly less than the value of his use or possession of the property.
(4)The provision for any person of services or goods which are of assistance to him in drug trafficking shall not be treated as consideration for the purposes of subsection (2) above.
(5)Where a person discloses to a constable or to a person commissioned by the Commissioners of Customs and Excise a suspicion or belief that any property is, or in whole or in part directly or indirectly represents, another person’s proceeds of drug trafficking, or discloses to a constable or a person so commissioned any matter on which such a suspicion or belief is based—
(a)the disclosure shall not be treated as a breach of any restriction upon the disclosure of information imposed by statute or otherwise; and
(b)if he does any act in relation to the property in contravention of subsection (1) above, he does not commit an offence under this section if—
(i)the disclosure is made before he does the act concerned and the act is done with the consent of the constable or person so commissioned, or
(ii)the disclosure is made after he does the act, but on his initiative and as soon as it is reasonable for him to make it.
(6)For the purposes of this section having possession of any property shall be taken to be doing an act in relation to it.
(7)In proceedings against a person for an offence under this section, it is a defence to prove that—
(a)he intended to disclose to a constable or a person so commissioned such a suspicion, belief or matter as is mentioned in subsection (5) above; but
(b)there is reasonable excuse for his failure to make the disclosure in accordance with paragraph (b) of that subsection.
(8)In the case of a person who was in employment at the relevant time, subsections (5) and (7) above shall have effect in relation to disclosures, and intended disclosures, to the appropriate person in accordance with the procedure established by his employer for the making of such disclosures as they have effect in relation to disclosures, and intended disclosures, to a constable or a person so commissioned.
(9)A person guilty of an offence under this section is liable—
(a)on summary conviction, to imprisonment for a term not exceeding six months or to a fine not exceeding the statutory maximum or to both; or
(b)on conviction on indictment, to imprisonment for a term not exceeding fourteen years or to a fine or to both.
(10)No constable, person so commissioned or other person shall be guilty of an offence under this section in respect of anything done by him in the course of acting in connection with the enforcement, or intended enforcement, of any provision of this Act or of any other enactment relating to drug trafficking or the proceeds of such trafficking.”.
(2)In section 3(3) of the Act of 1987 (circumstances where assumptions are not to be made), after the word “section” where it first occurs there shall be inserted the words “ 42A or ”.
Marginal Citations
(1)The following sections shall be inserted after section 43 of the M10Criminal Justice (Scotland) Act 1987—
(1)A person is guilty of an offence if—
(a)he knows, or suspects, that another person is engaged in drug money laundering,
(b)the information, or other matter, on which that knowledge or suspicion is based came to his attention in the course of his trade, profession, business or employment, and
(c)he does not disclose the information or other matter to a constable or to a person commissioned by the Commissioners of Customs and Excise as soon as is reasonably practicable after it comes to his attention.
(2)Subsection (1) above does not make it an offence for a professional legal adviser to fail to disclose any information or other matter which has come to him in privileged circumstances.
(3)It is a defence to a charge of committing an offence under this section that the person charged had a reasonable excuse for not disclosing the information or other matter in question.
(4)Where a person discloses to a constable or a person so commissioned—
(a)his suspicion or belief that another person is engaged in drug money laundering, or
(b)any information or other matter on which that suspicion or belief is based,
the disclosure shall not be treated as a breach of any restriction imposed by statute or otherwise.
(5)Without prejudice to subsection (3) or (4) above, in the case of a person who was in employment at the relevant time, it is a defence to a charge of committing an offence under this section that he disclosed the information or other matter in question to the appropriate person in accordance with the procedure established by his employer for the making of such disclosures.
(6)A disclosure to which subsection (5) above applies shall not be treated as a breach of any restriction imposed by statute or otherwise.
(7)In this section “drug money laundering” means doing any act which constitutes an offence under—
(a)section 42A or 43 of this Act; or
(b)section 14 of the M11Criminal Justice (International Co-operation) Act 1990 (concealing or transferring proceeds of drug trafficking),
or, in the case of an act done otherwise than in Scotland, would constitute such an offence if done in Scotland.
(8)For the purposes of subsection (7) above, having possession of any property shall be taken to be doing an act in relation to it.
(9)For the purposes of this section, any information or other matter comes to a professional legal adviser in privileged circumstances if it is communicated, or given, to him—
(a)by, or by a representative of, a client of his in connection with the giving by the adviser of legal advice to the client;
(b)by, or by a representative of, a person seeking legal advice from the adviser; or
(c)by any person—
(i)in contemplation of, or in connection with, legal proceedings; and
(ii)for the purpose of those proceedings.
(10)No information or other matter shall be treated as coming to a professional legal adviser in privileged circumstances if it is communicated or given with a view to furthering any criminal purpose.
(11)A person guilty of an offence under this section shall be liable—
(a)on summary conviction, to imprisonment for a term not exceeding six months or a fine not exceeding the statutory maximum or to both, or
(b)on conviction on indictment, to imprisonment for a term not exceeding five years or a fine, or to both.
(1)A person is guilty of an offence if—
(a)he knows or suspects that a constable or a person commissioned by the Commissioners of Customs and Excise is acting, or is proposing to act, in connection with an investigation which is being, or is about to be, conducted into drug money laundering within the meaning of subsections (7) and (8) of section 43A of this Act; and
(b)he discloses to any other person information or any other matter which is likely to prejudice that investigation, or proposed investigation.
(2)A person is guilty of an offence if—
(a)he knows or suspects that a disclosure has been made to a constable, or a person so commissioned, under section 42A, 43 or 43A of this Act; and
(b)he discloses to any other person information or any other matter which is likely to prejudice any investigation which might be conducted following the disclosure.
(3)A person is guilty of an offence if—
(a)he knows or suspects that a disclosure of a kind mentioned in section 42A(8), 43(4A) or 43A(5) of this Act has been made; and
(b)he discloses to any person information or any other matter which is likely to prejudice any investigation which might be conducted following the disclosure.
(4)Nothing in subsections (1) to (3) above makes it an offence for a professional legal adviser to disclose any information or other matter—
(a)to, or to a representative of, a client of his in connection with the giving by the adviser of legal advice to the client; or
(b)to any person—
(i)in contemplation of, or in connection with, legal proceedings; and
(ii)for the purpose of those proceedings.
(5)Subsection (4) above does not apply in relation to any information or other matter which is disclosed with a view to furthering any criminal purpose.
(6)In proceedings against a person for an offence under subsection (1), (2) or (3) above, it is a defence to prove that he did not know or suspect that the disclosure was likely to be prejudicial in the way mentioned in that subsection.
(7)A person guilty of an offence under this section shall be liable—
(a)on summary conviction, to imprisonment for a term not exceeding six months or a fine not exceeding the statutory maximum or to both, or
(b)on conviction on indictment, to imprisonment for a term not exceeding five years or a fine, or to both.
(8)No constable, person so commissioned or other person shall be guilty of an offence under this section in respect of anything done by him in the course of acting in connection with the enforcement, or intended enforcement, of any provision of this Act or of any other enactment relating to drug trafficking or the proceeds of such trafficking.”.
(2)In section 43 of the Act of 1987 (assisting another to retain the proceeds of drug trafficking)—
(a)in subsection (3), after the words “trafficking or” there shall be inserted the words “ discloses to a constable or a person so commissioned ”; and
(b)in paragraph (a) of subsection (3), for the word “contract” there shall be substituted “ statute or otherwise ”.
(3)After subsection (4) of that section, there shall be inserted the following subsection—
“(4A)In the case of a person who was in employment at the relevant time, subsections (3) and (4) above shall have effect in relation to disclosures, and intended disclosures, to the appropriate person in accordance with the procedure established by his employer for the making of such disclosures as they have effect in relation to disclosures, and intended disclosures, to a constable or a person commissioned as aforesaid.”.
F17(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2)The following section shall be inserted in the M12Criminal Justice (Scotland) Act 1987, after section 40—
(1)Summary proceedings for a specified offence may be instituted by order of the Commissioners and shall, if so instituted, be commenced in the name of an officer.
(2)In the case of the death, removal, discharge or absence of the officer in whose name any proceedings for a specified offence were commenced, those proceedings may be continued by another officer.
(3)Where the Commissioners investigate, or propose to investigate, any matter with a view to determining—
(a)whether there are grounds for believing that a specified offence has been committed, or
(b)whether a person should be prosecuted for a specified offence,
that matter shall be treated as an assigned matter within the meaning of the M13Customs and Excise Management Act 1979.
(4)Nothing in this section shall be taken—
(a)to prevent any person (including any officer) who has power to arrest, detain or prosecute any person for a specified offence from doing so; or
(b)to prevent a court from proceeding to deal with a person brought before it following his arrest by an officer for a specified offence, even though the proceedings have not been instituted by an order made under subsection (1) above.
(5)In this section—
“the Commissioners” means the Commissioners of Customs and Excise;
“officer” means a person commissioned by the Commissioners; and
“specified offence” means—
an offence under section 42, 42A, 43, 43A or 43B of this Act or section 14 of the M14Criminal Justice (International Co-operation) Act 1990 (concealing or transferring proceeds of drug trafficking);
attempting to commit, conspiracy to commit or incitement to commit, any such offence; or
any other offence of a kind prescribed in regulations made by the Secretary of State for the purposes of this section.
(6)Regulations under subsection (5) above shall be made by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.”.
Extent Information
E2S. 20 extends to England and Wales except for s. 20(2) which extends only to Scotland
Textual Amendments
Marginal Citations
(1)In section 9 of the M15Criminal Justice (International Co-operation) Act 1990 (enforcement of overseas forfeiture orders), in subsection (1)(b), the words “ or intended for use ” shall be inserted after “used”.
F18(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)The same subsection as is inserted in section 24A of the Act of 1986 by subsection (2) shall be inserted in—
F18(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F18(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(c)section 29 of the M16Criminal Justice (Scotland) Act 1987 (but in substitution for subsection (4));
(d)section 30 of the Act of 1987 (but in substitution for subsection (5));
(e)section 94 of the M17Criminal Justice Act 1988 (but in substitution for subsection (4));
(f)section 95 of the Act of 1988 (but in substitution for subsection (3));
(g)section 96 of the Act of 1988 (but in substitution for subsection (5));
(h)section 9 of the M18Criminal Justice (International Co-operation) Act 1990 (but in substitution for subsection (5)).
Extent Information
E3For the extent of s. 21, see s. 79
Textual Amendments
F18S. 21(2)(3)(a)(b) repealed (3.2.1995) by 1994 c. 37, ss. 67, 69(2), Sch. 3 (with saving in Sch. 2 para. 8)
Marginal Citations
F19(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2)In section 29 of the Criminal Justice (Scotland) Act 1987 (enforcement of Northern Ireland orders), the following subsection shall be inserted after subsection (3)—
“(3A)An Order in Council under this section may, in particular, provide for section 18 of the Civil Jurisdiction and Judgments Act 1982 (enforcement of United Kingdom judgments in other parts of the United Kingdom) not to apply in relation to such orders as may be prescribed by the Order.”.
Extent Information
E4S. 22 extends to E & W. except for s. 22(2) which extends only to Scotland
Textual Amendments
(1)The functions of the Secretary of State under section 20 of the Criminal Justice (International Co-operation) Act 1990 (enforcement powers in relation to ships) are transferred to the Commissioners of Customs and Excise.
(2)The following consequential amendments shall be made in the Act of 1990—
(a)in section 20, for “Secretary of State”, “he” and “his”, wherever they occur, there shall be substituted, respectively, “ Commissioners of Customs and Excise ”, “ they ” and “ their ”;
(b)in section 21(3), for “ Secretary of State”, where first occurring, there shall be substituted “ Commissioners of Customs and Excise ”; and
(c)in paragraph 2(2) of Schedule 3, for “Secretary of State” there shall be substituted “ Commissioners of Customs and Excise ”.
(3)The transfer of functions effected by this section shall not affect the validity of any action taken or begun under section 20 of the Act of 1990 before the coming into force of this section.
F20(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F20(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F20(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F20(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F20(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F20(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F20(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F20(8). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F20(9). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F20(10). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F20(11). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(12)Section 1 of the M19Criminal Justice (Scotland) Act 1987 (confiscation orders in relation to drug trafficking offences) shall be amended in accordance with subsections (13) to (15).
(13)In subsection (2) (offences in relation to which confiscation orders may be made), the following paragraph shall be inserted after paragraph (b)—
“(bb)an offence under section 42A of this Act;”.
(14)In subsection (6) (definition of “drug trafficking”), after paragraph (e) there shall be inserted the following paragraphs—
“(f)acquiring, having possession of or using property in contravention of section 42A of this Act;
(g)concealing or transferring the proceeds of drug trafficking in contravention of section 14 of the Act of 1990;
(h)using any ship for illicit traffic in controlled drugs in contravention of section 19 of the Act of 1990;”.
(15)After subsection (6) there shall be inserted the following subsection—
“(7)In paragraphs (e) to (g) of subsection (6) above, references to conduct in contravention of the enactments mentioned in those paragraphs include conduct which would contravene the enactments if it took place in Scotland.”.
Extent Information
E5S. 24 extends to U.K. but s. 24(12)-(15) extend only to Scotland
Textual Amendments
F20S. 24(1)-(11) repealed (3.2.1995) by 1994 c. 37, ss. 67, 69(2), Sch. 3
Commencement Information
I2S. 24 partly in force; S. 24 not in force at Royal Assent; S. 24(12)-(15) in force for S. at 3.2.1995 by S.I. 1995/43, arts. 2, 3(2)
Marginal Citations
F22(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2)The same subsections as are inserted in section 31 of the Act of 1986 by subsection (1) shall be inserted in section 42 of the M20Criminal Justice (Scotland) Act 1987 (corresponding Scottish provision).
Extent Information
E6S. 26 extends to E & W except for s 26(2) which extends only to Scotland
Textual Amendments
F22S. 26(1) repealed (3.2.1995) by 1994 c. 37, ss. 67, 69(2), Sch. 3 (with saving in Sch. 2 para. 9)
Marginal Citations
(1)Section 71 of the M21Criminal Justice Act 1988 (confiscation orders) shall be amended as follows.
(2)The following subsection shall be inserted after subsection (7)—
“(7A)The standard of proof required to determine any question arising under this Part of this Act as to—
(a)whether a person has benefited as mentioned in subsection (2)(b)(i) above;
(b)whether his benefit is at least the minimum amount; or
(c)the amount to be recovered in his case by virtue of section 72 below,
shall be that applicable in civil proceedings.”.
(3)The following subsection shall be inserted at the end—
“(10)Subsection (9) above is subject to section 93E below.”.
Marginal Citations
The following section shall be inserted in the Criminal Justice Act 1988, after section 72—
(1)Where a court is acting under section 71 above but considers that it requires further information before—
(a)determining whether the defendant has benefited as mentioned in section 71(2)(b)(i) above;
(b)determining whether his benefit is at least the minimum amount; or
(c)determining the amount to be recovered in his case by virtue of section 72 above,
it may, for the purpose of enabling that information to be obtained, postpone making that determination for such period as it may specify.
(2)More than one postponement may be made under subsection (1) above in relation to the same case.
(3)Unless it is satisfied that there are exceptional circumstances, the court shall not specify a period under subsection (1) above which—
(a)by itself; or
(b)where there have been one or more previous postponements under subsection (1) above or (4) below, when taken together with the earlier specified period or periods,
exceeds six months beginning with the date of conviction.
(4)Where the defendant appeals against his conviction, the court may, on that account—
(a)postpone making any of the determinations mentioned in subsection (1) above for such period as it may specify; or
(b)where it has already exercised its powers under this section to postpone, extend the specified period.
(5)A postponement or extension under subsection (1) or (4) above may be made—
(a)on application by the defendant or the prosecutor; or
(b)by the court of its own motion.
(6)Unless the court is satisfied that there are exceptional circumstances, any postponement or extension under subsection (4) above shall not exceed the period ending three months after the date on which the appeal is determined or otherwise disposed of.
(7)Where the court exercises its power under subsection (1) or (4) above, it may nevertheless proceed to sentence, or otherwise deal with, the defendant in respect of the offence or any of the offences concerned.
(8)Where the court has so proceeded, section 72 above shall have effect as if—
(a)in subsection (4), the words from “before sentencing” to “offences concerned” were omitted; and
(b)in subsection (5), after “determining” there were inserted “in relation to any offence in respect of which he has not been sentenced or otherwise dealt with”.
(9)In sentencing, or otherwise dealing with, the defendant in respect of the offence, or any of the offences, concerned at any time during the specified period, the court shall not—
(a)impose any fine on him; or
(b)make any such order as is mentioned in section 72(5)(b) or (c) above.
(10)In this section, references to an appeal include references to an application under section 111 of the M22Magistrates’ Courts Act 1980 (statement of case by magistrates’ court).
(11)In this section “the date of conviction” means—
(a)the date on which the defendant was convicted of the offence concerned, or
(b)where he was convicted in the same proceedings, but on different dates, of two or more offences which may be taken together for the purposes of subsection (2) or, as the case may be, (3) of section 71 above, the date of the latest of those convictions.”.
Marginal Citations
(1)The following section shall be inserted in the M23Criminal Justice Act 1988, after section 93—
(1)Subject to subsection (3) below, if a person enters into or is otherwise concerned in an arrangement whereby—
(a)the retention or control by or on behalf of another (“A”) of A’s proceeds of criminal conduct is facilitated (whether by concealment, removal from the jurisdiction, transfer to nominees or otherwise); or
(b)A’s proceeds of criminal conduct—
(i)are used to secure that funds are placed at A’s disposal; or
(ii)are used for A’s benefit to acquire property by way of investment,
knowing or suspecting that A is a person who is or has been engaged in criminal conduct or has benefited from criminal conduct, he is guilty of an offence.
(2)In this section, references to any person’s proceeds of criminal conduct include a reference to any property which in whole or in part directly or indirectly represented in his hands his proceeds of criminal conduct.
(3)Where a person discloses to a constable a suspicion or belief that any funds or investments are derived from or used in connection with criminal conduct or discloses to a constable any matter on which such a suspicion or belief is based—
(a)the disclosure shall not be treated as a breach of any restriction upon the disclosure of information imposed by statute or otherwise; and
(b)if he does any act in contravention of subsection (1) above and the disclosure relates to the arrangement concerned, he does not commit an offence under this section if—
(i)the disclosure is made before he does the act concerned and the act is done with the consent of the constable; or
(ii)the disclosure is made after he does the act, but is made on his initiative and as soon as it is reasonable for him to make it.
(4)In proceedings against a person for an offence under this section, it is a defence to prove—
(a)that he did not know or suspect that the arrangement related to any person’s proceeds of criminal conduct; or
(b)that he did not know or suspect that by the arrangement the retention or control by or on behalf of A of any property was facilitated or, as the case may be, that by the arrangement any property was used, as mentioned in subsection (1) above; or
(c)that—
(i)he intended to disclose to a constable such a suspicion, belief or matter as is mentioned in subsection (3) above in relation to the arrangement; but
(ii)there is reasonable excuse for his failure to make disclosure in accordance with subsection (3)(b) above.
(5)In the case of a person who was in employment at the relevant time, subsections (3) and (4) above shall have effect in relation to disclosures, and intended disclosures, to the appropriate person in accordance with the procedure established by his employer for the making of such disclosures as they have effect in relation to disclosures, and intended disclosures, to a constable.
(6)A person guilty of an offence under this section shall be liable—
(a)on summary conviction, to imprisonment for a term not exceeding six months or a fine not exceeding the statutory maximum or to both; or
(b)on conviction on indictment, to imprisonment for a term not exceeding fourteen years or a fine or to both.
(7)In this Part of this Act “criminal conduct” means conduct which constitutes an offence to which this Part of this Act applies or would constitute such an offence if it had occurred in England and Wales or (as the case may be) Scotland.”.
(2)In section 102(1) of the Act of 1988 (interpretation of Part VI), the following definition shall be inserted after the definition of “interest” —
““proceeds of criminal conduct”, in relation to any person who has benefited from criminal conduct, means that benefit;”.
(3)In section 102(2) of the Act of 1988, the following entry shall be inserted in the table after the entry relating to section 71(9)(a)—
| “Criminal conduct | Section 93A(7)”. |
Marginal Citations
The following section shall be inserted in the M24Criminal Justice Act 1988, after section 93A—
(1)A person is guilty of an offence if, knowing that any property is, or in whole or in part directly or indirectly represents, another person’s proceeds of criminal conduct, he acquires or uses that property or has possession of it.
(2)It is a defence to a charge of committing an offence under this section that the person charged acquired or used the property or had possession of it for adequate consideration.
(3)For the purposes of subsection (2) above—
(a)a person acquires property for inadequate consideration if the value of the consideration is significantly less than the value of the property; and
(b)a person uses or has possession of property for inadequate consideration if the value of the consideration is significantly less than the value of his use or possession of the property.
(4)The provision for any person of services or goods which are of assistance to him in criminal conduct shall not be treated as consideration for the purposes of subsection (2) above.
(5)Where a person discloses to a constable a suspicion or belief that any property is, or in whole or in part directly or indirectly represents, another person’s proceeds of criminal conduct or discloses to a constable any matter on which such a suspicion or belief is based—
(a)the disclosure shall not be treated as a breach of any restriction upon the disclosure of information imposed by statute or otherwise; and
(b)if he does any act in relation to that property in contravention of subsection (1) above, he does not commit an offence under this section if—
(i)the disclosure is made before he does the act concerned and the act is done with the consent of the constable; or
(ii)the disclosure is made after he does the act, but on his initiative and as soon as it is reasonable for him to make it.
(6)For the purposes of this section, having possession of any property shall be taken to be doing an act in relation to it.
(7)In proceedings against a person for an offence under this section, it is a defence to prove that—
(a)he intended to disclose to a constable such a suspicion, belief or matter as is mentioned in subsection (5) above; but
(b)there is reasonable excuse for his failure to make the disclosure in accordance with paragraph (b) of that subsection.
(8)In the case of a person who was in employment at the relevant time, subsections (5) and (7) above shall have effect in relation to disclosures, and intended disclosures, to the appropriate person in accordance with the procedure established by his employer for the making of such disclosures as they have effect in relation to disclosures, and intended disclosures, to a constable.
(9)A person guilty of an offence under this section is liable—
(a)on summary conviction, to imprisonment for a term not exceeding six months or a fine not exceeding the statutory maximum or to both; or
(b)on conviction on indictment, to imprisonment for a term not exceeding fourteen years or a fine or to both.
(10)No constable or other person shall be guilty of an offence under this section in respect of anything done by him in the course of acting in connection with the enforcement, or intended enforcement, of any provision of this Act or of any other enactment relating to criminal conduct or the proceeds of such conduct.”.
Marginal Citations
The following section shall be inserted in the M25Criminal Justice Act 1988, after section 93B—
(1)A person is guilty of an offence if he—
(a)conceals or disguises any property which is, or in whole or in part directly or indirectly represents, his proceeds of criminal conduct; or
(b)converts or transfers that property or removes it from the jurisdiction,
for the purpose of avoiding prosecution for an offence to which this Part of this Act applies or the making or enforcement in his case of a confiscation order.
(2)A person is guilty of an offence if, knowing or having reasonable grounds to suspect that any property is, or in whole or in part directly or indirectly represents, another person’s proceeds of criminal conduct, he—
(a)conceals or disguises that property; or
(b)converts or transfers that property or removes it from the jurisdiction,
for the purpose of assisting any person to avoid prosecution for an offence to which this Part of this Act applies or the making or enforcement in his case of a confiscation order.
(3)In subsections (1) and (2) above, the references to concealing or disguising any property include references to concealing or disguising its nature, source, location, disposition, movement or ownership or any rights with respect to it.
(4)A person guilty of an offence under this section is liable—
(a)on summary conviction, to imprisonment for a term not exceeding six months or a fine not exceeding the statutory maximum or to both; or
(b)on conviction on indictment, to imprisonment for a term not exceeding fourteen years or a fine or to both.”.
Marginal Citations
The following section shall be inserted in the M26Criminal Justice Act 1988, after section 93C—
(1)A person is guilty of an offence if—
(a)he knows or suspects that a constable is acting, or is proposing to act, in connection with an investigation which is being, or is about to be, conducted into money laundering; and
(b)he discloses to any other person information or any other matter which is likely to prejudice that investigation, or proposed investigation.
(2)A person is guilty of an offence if—
(a)he knows or suspects that a disclosure (“the disclosure”) has been made to a constable under section 93A or 93B above; and
(b)he discloses to any other person information or any other matter which is likely to prejudice any investigation which might be conducted following the disclosure.
(3)A person is guilty of an offence if—
(a)he knows or suspects that a disclosure of a kind mentioned in section 93A(5) or 93B(8) above (“the disclosure”) has been made; and
(b)he discloses to any person information or any other matter which is likely to prejudice any investigation which might be conducted following the disclosure.
(4)Nothing in subsections (1) to (3) above makes it an offence for a professional legal adviser to disclose any information or other matter—
(a)to, or to a representative of, a client of his in connection with the giving by the adviser of legal advice to the client; or
(b)to any person—
(i)in contemplation of, or in connection with, legal proceedings; and
(ii)for the purpose of those proceedings.
(5)Subsection (4) above does not apply in relation to any information or other matter which is disclosed with a view to furthering any criminal purpose.
(6)In proceedings against a person for an offence under subsection (1), (2) or (3) above, it is a defence to prove that he did not know or suspect that the disclosure was likely to be prejudicial in the way mentioned in that subsection.
(7)In this section “money laundering” means doing any act which constitutes an offence under section 93A, 93B or 93C above or, in the case of an act done otherwise than in England and Wales or Scotland, would constitute such an offence if done in England and Wales or (as the case may be) Scotland.
(8)For the purposes of subsection (7) above, having possession of any property shall be taken to be doing an act in relation to it.
(9)A person guilty of an offence under this section shall be liable—
(a)on summary conviction, to imprisonment for a term not exceeding six months or a fine not exceeding the statutory maximum or to both; or
(b)on conviction on indictment, to imprisonment for a term not exceeding five years or a fine or to both.
(10)No constable or other person shall be guilty of an offence under this section in respect of anything done by him in the course of acting in connection with the enforcement, or intended enforcement, of any provision of this Act or of any other enactment relating to an offence to which this Part of this Act applies.”.
Marginal Citations
The following section shall be inserted in the M27Criminal Justice Act 1988, after section 93D—
In the application of sections 93A to 93D above to Scotland—
“offence to which this Part of this Act applies” means an offence triable on indictment (whether or not such offence is also triable summarily) other than—
“proceeds of criminal conduct” does not include—
proceeds of drug trafficking (“drug trafficking” having the meaning assigned by section 1(6) of the said Act of 1987); or
terrorist funds within the meaning of section 11 of the said Act of 1989.”.
(1)In section 94 of the M30Criminal Justice Act 1988 (enforcement of Northern Ireland orders), in subsection (1), for “89” there shall be substituted “ 88 ” and the following subsection shall be inserted after subsection (3)—
“(3A)An Order in Council under this section may, in particular, provide for section 18 of the M31Civil Jurisdiction and Judgments Act 1982 (enforcement of United Kingdom judgments in other parts of the United Kingdom) not to apply in relation to such orders as may be prescribed by the Order.”.
(2)In section 95 of the Act of 1988 (enforcement of Northern Ireland orders in Scotland), the following subsection shall be inserted after subsection (2)—
“(2A)An Order in Council under this section may, in particular, provide for section 18 of the Civil Jurisdiction and Judgments Act 1982 (enforcement of United Kingdom judgments in other parts of the United Kingdom) not to apply in relation to such orders as may be prescribed by the Order.”.
Extent Information
E7S. 34(1) extends to Great Britain and s. 34(2) extends to Scotland and Northern Ireland only
Marginal Citations
The following section shall be inserted in the Criminal Justice Act 1988, after section 93E—
(1)Proceedings for an offence to which this section applies (“a specified offence”) may be instituted by order of the Commissioners.
(2)Any proceedings for a specified offence which are so instituted shall be commenced in the name of an officer.
(3)In the case of the death, removal, discharge or absence of the officer in whose name any proceedings for a specified offence were commenced, those proceedings may be continued by another officer.
(4)Where the Commissioners investigate, or propose to investigate, any matter with a view to determining—
(a)whether there are grounds for believing that a specified offence has been committed; or
(b)whether a person should be prosecuted for a specified offence;
that matter shall be treated as an assigned matter within the meaning of the M32Customs and Excise Management Act 1979.
(5)Nothing in this section shall be taken—
(a)to prevent any person (including any officer) who has power to arrest, detain or prosecute any person for a specified offence from doing so; or
(b)to prevent a court from proceeding to deal with a person brought before it following his arrest by an officer for a specified offence, even though the proceedings have not been instituted by an order made under subsection (1) above.
(6)In this section—
“the Commissioners” means the Commissioners of Customs and Excise;
“officer” means a person commissioned by the Commissioners;
“proceedings”, as respects Scotland, means summary proceedings; and
“specified offence” means—
any offence under sections 93A to 93D above;
attempting to commit, conspiracy to commit or incitement to commit any such offence; or
any other offence of a kind prescribed in regulations made by the Secretary of State for the purposes of this section.
(7)The power to make regulations under subsection (6) above shall be exercisable by statutory instrument.
(8)Any such instrument shall be subject to annulment in pursuance of a resolution of either House of Parliament.”.
Textual Amendments
F23S. 36 repealed (25.8.1996) by 1996 c. 22, ss. 62(1), 63(7), Sch. 7 Pt. I
Textual Amendments
F24S. 37 repealed (25.8.1996) by 1996 c. 22, ss. 62(1), 63(7), Sch. 7 Pt. I
Textual Amendments
F25S. 38 repealed (25.8.1996) by 1996 c. 22, ss. 62(1), 63(7), Sch. 7 Pt. I
Textual Amendments
F26S. 39 repealed (25.8.1996) by 1996 c. 22, ss. 62(1), 63(7), Sch. 7 Pt. I
Textual Amendments
F27S. 40 repealed (25.8.1996) by 1996 c. 22, ss. 62(1), 63(7), Sch. 7 Pt. I
Textual Amendments
F28S. 41 repealed (25.8.1996) by 1996 c. 22, ss. 62(1), 63(7), Sch. 7 Pt. I
Textual Amendments
F29S. 42 repealed (25.8.1996) by 1996 c. 22, ss. 62(1), 63(7), Sch. 7 Pt. I
Textual Amendments
F30S. 43 repealed (25.8.1996) by 1996 c. 22, ss. 62(1), 63(7), Sch. 7 Pt. I
Textual Amendments
F31S. 44 repealed (25.8.1996) by 1996 c. 22, ss. 62(1), 63(7), Sch. 7 Pt. I
Textual Amendments
F32S. 45 repealed (25.8.1996) by 1996 c. 22, ss. 62(1), 63(7), Sch. 7 Pt. I
Textual Amendments
F33S. 46 repealed (25.8.1996) by 1996 c. 22, ss. 62(1), 63(7), Sch. 7 Pt. I
Textual Amendments
F34S. 47 repealed (25.8.1996) by 1996 c. 22, ss. 62(1), 63(7), Sch. 7 Pt. I
Textual Amendments
F35S. 48 repealed (25.8.1996) by 1996 c. 22, ss. 62(1), 63(7), Sch. 7 Pt. I
Textual Amendments
F36S. 49 repealed (19.2.2001) by 2000 c. 11, s. 125(2), Sch. 16 Pt. I; S.I. 2001/421, art. 2
Textual Amendments
F37S. 50 repealed (19.2.2001) by 2000 c. 11, s. 125(2), Sch. 16 Pt. I; S.I. 2001/421, art. 2
Textual Amendments
F38S. 51 repealed (19.2.2001) by 2000 c. 11, s. 125(2), Sch. 16 Pt. I; S.I. 2001/421, art. 2
Modifications etc. (not altering text)
C1Pt. V (ss. 52-64) applied (E.W.N.I) (1.12.2001) by 2000 c. 8, s. 402(1)(a); S.I. 2001/3538, art. 2(1)
(1)An individual who has information as an insider is guilty of insider dealing if, in the circumstances mentioned in subsection (3), he deals in securities that are price-affected securities in relation to the information.
(2)An individual who has information as an insider is also guilty of insider dealing if—
(a)he encourages another person to deal in securities that are (whether or not that other knows it) price-affected securities in relation to the information, knowing or having reasonable cause to believe that the dealing would take place in the circumstances mentioned in subsection (3); or
(b)he discloses the information, otherwise than in the proper performance of the functions of his employment, office or profession, to another person.
(3)The circumstances referred to above are that the acquisition or disposal in question occurs on a regulated market, or that the person dealing relies on a professional intermediary or is himself acting as a professional intermediary.
(4)This section has effect subject to section 53.
(1)An individual is not guilty of insider dealing by virtue of dealing in securities if he shows—
(a)that he did not at the time expect the dealing to result in a profit attributable to the fact that the information in question was price-sensitive information in relation to the securities, or
(b)that at the time he believed on reasonable grounds that the information had been disclosed widely enough to ensure that none of those taking part in the dealing would be prejudiced by not having the information, or
(c)that he would have done what he did even if he had not had the information.
(2)An individual is not guilty of insider dealing by virtue of encouraging another person to deal in securities if he shows—
(a)that he did not at the time expect the dealing to result in a profit attributable to the fact that the information in question was price-sensitive information in relation to the securities, or
(b)that at the time he believed on reasonable grounds that the information had been or would be disclosed widely enough to ensure that none of those taking part in the dealing would be prejudiced by not having the information, or
(c)that he would have done what he did even if he had not had the information.
(3)An individual is not guilty of insider dealing by virtue of a disclosure of information if he shows—
(a)that he did not at the time expect any person, because of the disclosure, to deal in securities in the circumstances mentioned in subsection (3) of section 52; or
(b)that, although he had such an expectation at the time, he did not expect the dealing to result in a profit attributable to the fact that the information was price-sensitive information in relation to the securities.
(4)Schedule 1 (special defences) shall have effect.
(5)The Treasury may by order amend Schedule 1.
(6)In this section references to a profit include references to the avoidance of a loss.
(1)This Part applies to any security which—
(a)falls within any paragraph of Schedule 2; and
(b)satisfies any conditions applying to it under an order made by the Treasury for the purposes of this subsection;
and in the provisions of this Part (other than that Schedule) any reference to a security is a reference to a security to which this Part applies.
(2)The Treasury may by order amend Schedule 2.
(1)For the purposes of this Part, a person deals in securities if—
(a)he acquires or disposes of the securities (whether as principal or agent); or
(b)he procures, directly or indirectly, an acquisition or disposal of the securities by any other person.
(2)For the purposes of this Part, “acquire”, in relation to a security, includes—
(a)agreeing to acquire the security; and
(b)entering into a contract which creates the security.
(3)For the purposes of this Part, “dispose”, in relation to a security, includes—
(a)agreeing to dispose of the security; and
(b)bringing to an end a contract which created the security.
(4)For the purposes of subsection (1), a person procures an acquisition or disposal of a security if the security is acquired or disposed of by a person who is—
(a)his agent,
(b)his nominee, or
(c)a person who is acting at his direction,
in relation to the acquisition or disposal.
(5)Subsection (4) is not exhaustive as to the circumstances in which one person may be regarded as procuring an acquisition or disposal of securities by another.
(1)For the purposes of this section and section 57, “inside information” means information which—
(a)relates to particular securities or to a particular issuer of securities or to particular issuers of securities and not to securities generally or to issuers of securities generally;
(b)is specific or precise;
(c)has not been made public; and
(d)if it were made public would be likely to have a significant effect on the price of any securities.
(2)For the purposes of this Part, securities are “price-affected securities” in relation to inside information, and inside information is “price-sensitive information” in relation to securities, if and only if the information would, if made public, be likely to have a significant effect on the price of the securities.
(3)For the purposes of this section “price” includes value.
(1)For the purposes of this Part, a person has information as an insider if and only if—
(a)it is, and he knows that it is, inside information, and
(b)he has it, and knows that he has it, from an inside source.
(2)For the purposes of subsection (1), a person has information from an inside source if and only if—
(a)he has it through—
(i)being a director, employee or shareholder of an issuer of securities; or
(ii)having access to the information by virtue of his employment, office or profession; or
(b)the direct or indirect source of his information is a person within paragraph (a).
(1)For the purposes of section 56, “made public”, in relation to information, shall be construed in accordance with the following provisions of this section; but those provisions are not exhaustive as to the meaning of that expression.
(2)Information is made public if—
(a)it is published in accordance with the rules of a regulated market for the purpose of informing investors and their professional advisers;
(b)it is contained in records which by virtue of any enactment are open to inspection by the public;
(c)it can be readily acquired by those likely to deal in any securities—
(i)to which the information relates, or
(ii)of an issuer to which the information relates; or
(d)it is derived from information which has been made public.
(3)Information may be treated as made public even though—
(a)it can be acquired only by persons exercising diligence or expertise;
(b)it is communicated to a section of the public and not to the public at large;
(c)it can be acquired only by observation;
(d)it is communicated only on payment of a fee; or
(e)it is published only outside the United Kingdom.
(1)For the purposes of this Part, a “professional intermediary” is a person—
(a)who carries on a business consisting of an activity mentioned in subsection (2) and who holds himself out to the public or any section of the public (including a section of the public constituted by persons such as himself) as willing to engage in any such business; or
(b)who is employed by a person falling within paragraph (a) to carry out any such activity.
(2)The activities referred to in subsection (1) are—
(a)acquiring or disposing of securities (whether as principal or agent); or
(b)acting as an intermediary between persons taking part in any dealing in securities.
(3)A person is not to be treated as carrying on a business consisting of an activity mentioned in subsection (2)—
(a)if the activity in question is merely incidental to some other activity not falling within subsection (2); or
(b)merely because he occasionally conducts one of those activities.
(4)For the purposes of section 52, a person dealing in securities relies on a professional intermediary if and only if a person who is acting as a professional intermediary carries out an activity mentioned in subsection (2) in relation to that dealing.
(1)For the purposes of this Part, “regulated market” means any market, however operated, which, by an order made by the Treasury, is identified (whether by name or by reference to criteria prescribed by the order) as a regulated market for the purposes of this Part.
(2)For the purposes of this Part an “issuer”, in relation to any securities, means any company, public sector body or individual by which or by whom the securities have been or are to be issued.
(3)For the purposes of this Part—
(a)“company” means any body (whether or not incorporated and wherever incorporated or constituted) which is not a public sector body; and
(b)“public sector body” means—
(i)the government of the United Kingdom, of Northern Ireland or of any country or territory outside the United Kingdom;
(ii)a local authority in the United Kingdom or elsewhere;
(iii)any international organisation the members of which include the United Kingdom or another member state;
(iv)the Bank of England; or
(v)the central bank of any sovereign State.
(4)For the purposes of this Part, information shall be treated as relating to an issuer of securities which is a company not only where it is about the company but also where it may affect the company’s business prospects.
(1)An individual guilty of insider dealing shall be liable—
(a)on summary conviction, to a fine not exceeding the statutory maximum or imprisonment for a term not exceeding six months or to both; or
(b)on conviction on indictment, to a fine or imprisonment for a term not exceeding seven years or to both.
(2)Proceedings for offences under this Part shall not be instituted in England and Wales except by or with the consent of—
(a)the Secretary of State; or
(b)the Director of Public Prosecutions.
(3)In relation to proceedings in Northern Ireland for offences under this Part, subsection (2) shall have effect as if the reference to the Director of Public Prosecutions were a reference to the Director of Public Prosecutions for Northern Ireland.
(1)An individual is not guilty of an offence falling within subsection (1) of section 52 unless—
(a)he was within the United Kingdom at the time when he is alleged to have done any act constituting or forming part of the alleged dealing;
(b)the regulated market on which the dealing is alleged to have occurred is one which, by an order made by the Treasury, is identified (whether by name or by reference to criteria prescribed by the order) as being, for the purposes of this Part, regulated in the United Kingdom; or
(c)the professional intermediary was within the United Kingdom at the time when he is alleged to have done anything by means of which the offence is alleged to have been committed.
(2)An individual is not guilty of an offence falling within subsection (2) of section 52 unless—
(a)he was within the United Kingdom at the time when he is alleged to have disclosed the information or encouraged the dealing; or
(b)the alleged recipient of the information or encouragement was within the United Kingdom at the time when he is alleged to have received the information or encouragement.
(1)Section 52 does not apply to anything done by an individual acting on behalf of a public sector body in pursuit of monetary policies or policies with respect to exchange rates or the management of public debt or foreign exchange reserves.
(2)No contract shall be void or unenforceable by reason only of section 52.
(1)Any power under this Part to make an order shall be exercisable by statutory instrument.
(2)No order shall be made under this Part unless a draft of it has been laid before and approved by a resolution of each House of Parliament.
(3)An order under this Part—
(a)may make different provision for different cases; and
(b)may contain such incidental, supplemental and transitional provisions as the Treasury consider expedient.
F39(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2)Section 19 of the Act of 1991 (fixing of fines in cases to which the unit fines system did not apply) shall cease to have effect.
(3)The further amendments made by Schedule 3 shall have effect.
(4)The amendments made by this section and that Schedule shall apply in relation to offenders convicted (but not sentenced) before the date on which this section comes into force as they apply in relation to offenders convicted after that date.
Textual Amendments
F39S. 65(1) repealed (25.8.2000) by 2000 c. 6, ss. 165, 168(1), Sch. 12 Pt. I (with Sch. 11 paras. 1, 2)
Textual Amendments
F40S. 66 repealed (25.8.2000) by 2000 c. 6, ss. 165, 168(1), Sch. 12 Pt. I (with Sch. 11 paras. 1, 2)
(1)In Part I of Schedule 2 to the M33Road Traffic Offenders Act 1988 (prosecution and punishment of offences), in the entries relating to section 1 of the Road Traffic Act M341988 (causing death by dangerous driving) and section 3A of that Act (causing death by careless driving while under influence of drink or drugs), in column 4, for “5 years” there shall be substituted “ 10 years ”.
F41(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Extent Information
E8S. 67(1) extends to Great Britain and s. 67(2) extends to England and Wales only.
Textual Amendments
F41S. 67(2) repealed (9.1.1995) by 1994 c. 33, s. 168(3), Sch. 11; S.I. 1994/3192, art. 2, Sch.
Modifications etc. (not altering text)
C2S. 67(1) restricted (S.) (11.8.1993) by S.I. 1993/2035, art. 2(2).
Marginal Citations
Textual Amendments
F42S. 68 repealed (1.4.1996) by 1995 c. 40, ss. 6, 7(2), Sch. 5 (with Sch. 3 paras. 1, 3)
Textual Amendments
F43S. 69 repealed (1.4.1996) by 1995 c. 40, ss. 6, 7(2), Sch. 5 (with Sch. 3 paras. 1, 3)
(1)Paragraphs 8(3), 9(2) and 10(3) of Schedule 8 to the Banking Coordination (Second Council Directive) Regulations 1992 shall cease to have effect.
(2)Regulations under section 2(2) of the M35European Communities Act 1972 for the purpose of implementing—
(a)[F44Article 29 of Directive 2000/12/EC of the European Parliament and of the Council of 20 March 2000 relating to the taking up and pursuit of the business of credit institutions] (which requires the United Kingdom to make provision for the exercise in the United Kingdom by supervisory authorities of other member States of information and inspection powers in relation to institutions authorised by them), or
(b)[F44Articles 52, 55 and 56 of that Directive] (which make similar provision in relation to the consolidated supervision of credit institutions),
may, notwithstanding paragraph 1(1)(d) of Schedule 2 to that Act, create offences punishable in the same way as offences under sections 39, 40 and 41 of the M36Banking Act 1987.
(3)In this section—
“the Second Banking Co-ordination Directive” means the M37Community Council Directive No. 89/646/EEC on the co-ordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of credit institutions and amending Directive 77/780/EEC; and
“the Supervision of Credit Institutions Directive” means the M38Community Council Directive No. 92/30/EEC on the supervision of credit institutions on a consolidated basis.
(4)Subsection (1) shall not affect the punishment for an offence committed before that subsection comes into force.
Textual Amendments
F44Words in S. 70(2)(a)(b) substituted (22.11.2000) by S.I. 2000/2952, reg. 6(a)(b)
Marginal Citations
M37O.J. No. L386/1.
M38O.J. No. L110/52.
(1)A person who, in the United Kingdom, assists in or induces any conduct outside the United Kingdom which involves the commission of a serious offence against the law of another member State is guilty of an offence under this section if—
(a)the offence involved is one consisting in or including the contravention of provisions of the law of that member State which relate to any of the matters specified in subsection (2);
(b)the offence involved is one consisting in or including the contravention of other provisions of that law so far as they have effect in relation to any of those matters; or
(c)the c onduct is such as to be calculated to have an effect in that member State in relation to any of those matters.
(2)The matters mentioned in subsection (1) are—
(a)the determination, discharge or enforcement of any liability for a Community duty or tax;
(b)the operation of arrangements under which reliefs or exemptions from any such duty or tax are provided or sums in respect of any such duty or tax are repaid or refunded;
(c)the making of payments in pursuance of Community arrangements made in connection with the regulation of the market for agricultural products and the enforcement of the conditions of any such payments;
(d)the movement into or out of any member State of anything in relation to the movement of which any Community instrument imposes, or requires the imposition of, any prohibition or restriction; and
(e)such other matters in relation to which provision is made by any Community instrument as the Secretary of State may by order specify.
(3)For the purposes of this section—
(a)an offence against the law of a member State is a serious offence if provision is in force in that member State authorising the sentencing, in some or all cases, of a person convicted of that offence to imprisonment for a maximum term of twelve months or more; and
(b)the question whether any conduct involves the commission of such an offence shall be determined according to the law in force in the member State in question at the time of the assistance or inducement.
(4)In any proceedings against any person for an offence under this section it shall be a defence for that person to show—
(a)that the conduct in question would not have involved the commission of an offence against the law of the member State in question but for circumstances of which he had no knowledge; and
(b)that he did not suspect or anticipate the existence of those circumstances and did not have reasonable grounds for doing so.
(5)For the purposes of any proceedings for an offence under this section, a certificate purporting to be issued by or on behalf of the government of another member State which contains a statement, in relation to such times as may be specified in the certificate—
(a)that a specified offence existed against the law of that member State,
(b)that an offence against the law of that member State was a serious offence within the meaning of this section,
(c)that such an offence consists in or includes the contravention of particular provisions of the law of that member State,
(d)that specified provisions of the law of that member State relate to, or are capable of having an effect in relation to, particular matters,
(e)that specified conduct involved the commission of a particular offence against the law of that member State, or
(f)that a particular effect in that member State in relation to any matter would result from specified conduct,
shall, in the case of a statement falling within paragraphs (a) to (d), be conclusive of the matters stated and, in the other cases, be evidence, and in Scotland sufficient evidence, of the matters stated.
(6)A person guilty of an offence under this section shall be liable—
(a)on summary conviction, to a penalty of the statutory maximum or to imprisonment for a term not exceeding six months or to both; or
(b)on conviction on indictment, to a penalty of any amount or to imprisonment for a term not exceeding seven years or to both.
(7)Sections 145 to 152 and 154 of the M39Customs and Excise Management Act 1979 (general provisions as to legal proceedings) shall apply as if this section were contained in that Act; and an offence under this section shall be treated for all purposes as an offence for which a person is liable to be arrested under the customs and excise Acts.
(8)The power of the Secretary of State to make an order under subsection (2)(e) shall be exercisable by statutory instrument; and no such order shall be made unless a draft of the order has been laid before, and approved by a resolution of, each House of Parliament.
(9)In this section—
“another member State” means a member State other than the United Kingdom;
“Community duty or tax” means any of the following, that is to say—
any Community customs duty;
an agricultural levy of the Economic Community;
value added tax under the law of another member State;
any duty or tax on tobacco products, alcoholic liquors or hydrocarbon oils which, in another member State, corresponds to any excise duty;
any duty, tax or other charge not falling within paragraphs (a) to (d) of this definition which is imposed by or in pursuance of any Community instrument on the movement of goods into or out of any member State;
“conduct” includes acts, omissions and statements;
“contravention” includes a failure to comply; and
“the customs and excise Acts” has the same meaning as in the Customs and Excise Management Act 1979.
(10)References in this section, in relation to a Community instrument, to the movement of anything into or out of a member State include references to the movement of anything between member States and to the doing of anything which falls to be treated for the purposes of that instrument as involving the entry into, or departure from, the territory of the Community of any goods (within the meaning of that Act of 1979).
(1)The M40Backing of Warrants (Republic of Ireland) Act 1965 shall be amended as follows.
(2)In section 2 (proceedings before magistrates’ courts), the following subsection shall be added at the end—
“(5)The Secretary of State may by order provide that an order may not be made under subsection (1) of this section if it is shown to the satisfaction of the court that no provision is made in the law of the Republic, in respect of a person delivered up to the Republic by the United Kingdom, corresponding to the provision made by or under sections 6A and 6B of this Act in respect of a person delivered up to the United Kingdom by the Republic.”.
(3)The following sections shall be inserted after section 6—
(1)The Secretary of State may by order provide that, except in such cases as may be specified in the order, no person delivered up to the United Kingdom under corresponding arrangements in force in the Republic (“the defendant”) may be dealt with for, or in respect of, any offence committed before his surrender, other than the offence for which he was delivered up.
(2)In subsection (1) of this section, “corresponding” means corresponding to provisions contained in this Act.
(3)Any order under this section may, in particular, specify the following cases for the purposes of subsection (1) of this section—
(a)where consent is given by a Minister of the Republic;
(b)where the defendant, having had an opportunity to leave the United Kingdom, has not done so within 45 days of his final discharge in respect of the offence for which he was delivered up;
(c)where the defendant has, after being returned to the United Kingdom, left the United Kingdom and subsequently returned to it;
(d)where the description of the offence charged in the United Kingdom is altered in the course of proceedings but the offence under its new description is shown by its constituent elements to be an offence for which the defendant could have been delivered up under the corresponding legislation.
(1)The Secretary of State may by order provide that, except in such cases as may be specified in the order, no person delivered up to the United Kingdom under corresponding arrangements in force in the Republic (“the defendant”) may be delivered up to a territory other than the Republic to be dealt with for, or in respect of, any offence committed before his surrender to the United Kingdom.
(2)In subsection (1) of this section “corresponding” means corresponding to provisions contained in this Act.
(3)Any order under this section may, in particular, specify the following cases for the purposes of subsection (1) of this section—
(a)where consent is given by a Minister of the Republic;
(b)where the defendant, having had an opportunity to leave the United Kingdom, has not done so within 45 days of his final discharge in respect of the offence for which he was delivered up;
(c)where the defendant has, after being returned to the United Kingdom, left the United Kingdom and subsequently returned to it.
(1)The power to make an order under section 2(5), 6A or 6B of this Act shall be exercisable by statutory instrument.
(2)Any such order shall be subject to annulment in pursuance of a resolution of either House of Parliament.
(3)Any such order may—
(a)make different provision for different cases; and
(b)make such incidental or supplemental provision as the Secretary of State considers appropriate.
(4)Any incidental or supplemental provision may, in particular, include—
(a)in the case of an order under section 2(5) of this Act, provision as to the circumstances in which, and the presumptions which may be applied in considering whether, provision made by the law of the Republic is to be treated as corresponding to provision made by or under section 6A or 6B of this Act;
(b)in the case of an order under section 6A or 6B of this Act—
(i)provision as to the notification of any consent;
(ii)provision as to the drawing up of any document to support a request for consent.
(5)Where any consent is notified in accordance with the provisions of an order under section 6A or 6B of this Act—
(a)judicial notice shall be taken of that consent; and
(b)a certificate of the Secretary of State to the effect that that consent was given in accordance with those provisions shall be evidence without further proof (or in Scotland sufficient evidence).”.
Extent Information
E9S. 72 extends to the United Kingdom and also to the Channel Islands and the Isle of Man, see s. 79(7)
Marginal Citations
(1)The Secretary of State may, with the consent of the Treasury, pay such grants, to such persons, as he considers appropriate in connection with measures intended—
(a)to combat or deal with drug trafficking or the misuse of drugs; or
(b)to deal with consequences of the misuse of drugs.
(2)Any such grant may be made subject to such conditions as the Secretary of State may, with the agreement of the Treasury, see fit to impose.
(3)Payments under this section shall be made out of money provided by Parliament.
(1)Part II of Schedule 1 to the M41Criminal Justice Act 1982 (persons convicted of offences under certain enactments not eligible for early release) shall be amended as follows.
(2)In the entry relating to the M42Drug Trafficking Offences Act 1986, the following paragraph shall be inserted before paragraph 26—
“25ASection 23A (acquisition, possession or use of proceeds of drug trafficking).”.
(3)In the entry relating to the M43Criminal Justice Act 1988, the following paragraphs shall be inserted before paragraph 30—
“29ASection 93A (assisting another to retain the benefit of criminal conduct).
29BSection 93B (acquisition, possession or use of proceeds of criminal conduct).
29CSection 93C (concealing or transferring proceeds of criminal conduct).”.
(1)In section 7(5) of the M44Prisoners and Criminal Proceedings (Scotland) Act 1993 (which applies provisions of that Act to certain children), for “Sections”, where it first occurs, substitute “ Without prejudice to section 6(1)(b)(ii) of this Act, sections 3, ”.
(2)In paragraph 2(2) of Schedule 6 to that Act (which makes transitional provision as respects release on licence on compassionate grounds) after “Act” insert “ , and sections 12 and 17 of this Act in so far as relating to a licence granted, or person released, by virtue of this sub-paragraph, ”.
(1)The Prisoners and Criminal Proceedings (Scotland) Act 1993 shall be amended as follows.
(2)In section 10 (life prisoners transferred to Scotland)—
(a)in subsection (1), the words “(whether before or after the commencement of this section)” shall cease to have effect;
(b)in subsection (2), after “life prisoner” insert “ , except such case as is mentioned in paragraph 7 of Schedule 6 to this Act, ”; and
(c)in subsection (4)—
(i)in paragraph (a), after “has” insert “ (whether before or after the commencement of this section) ”; and
(ii)in paragraph (b), after “Scotland” insert “ (whether before or after that commencement) ”.
(3)In Schedule 6 (transitional provisions and savings)—
(a)in paragraph 1, in the definition of “existing life prisoner”, after “person” insert “ (other than a transferred life prisoner) ”;
(b)in paragraph 2(1), for “paragraph 7 below” substitute “ to section 10(4) of this Act ”; and
(c)for paragraph 7 substitute—
In the case of a transferred life prisoner who is a discretionary life prisoner for the purposes of Part II of the M45Criminal Justice Act 1991 by virtue of section 48 of or paragraph 9 of Schedule 12 to that Act, subsection (3) of section 10 of this Act applies and the certificate mentioned in paragraph (b) of that subsection is the certificate under the said section 48 or paragraph 9.”.
Marginal Citations
Schedule 4, which confers power on the Secretary of State to make regulations extending certain provisions to Crown servants and to make regulations exempting persons from certain offences, shall have effect.
(1)Sections 70 and 71 shall come into force at the end of the period of two months beginning with the day on which this Act is passed.
(2)Sections 68, 69, 75, 76 and 79(1) to (12), paragraph 2 of Schedule 5 and, in so far as relating to the M46Criminal Procedure (Scotland) Act 1975 and the M47Prisoners and Criminal Proceedings (Scotland) Act 1993, Schedule 6, shall come into force on the passing of this Act.
(3)The other provisions of this Act shall come into force on such day as may be appointed by the Secretary of State by an order made by statutory instrument.
(4)Different days may be appointed under subsection (3) for different provisions and different purposes.
(5)Nothing in any provision in Part I applies to any act, omission or other event occurring before the coming into force of that provision.
(6)Where a person is charged with a relevant offence which was committed before the coming into force of a provision of Part II, Part III, or (as the case may be) Part IV, that provision shall not affect the question whether or not that person is guilty of the offence [F45and, where it confers a power on the court, shall not apply inm proceedings instituted befor the coming into force of that provision].
F46(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F47(8). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(9)In subsection (6) “relevant offence” means an offence in relation to which provision is made by Part II, Part III or Part IV, other than an offence created by that Part.
(10)An order under subsection (3) may contain such transitional provisions and savings as the Secretary of State considers appropriate.
F48(11). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F47(12). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Subordinate Legislation Made
P1S. 78(3) power partly exercised (14.1.1994): 15.2.1994 appointed for specified provisions by S.I. 1994/71, arts. 2, 3, Sch., Appendix
S. 78(3) power partly exercised (4.2.1994): 1.3.1994 appointed for specified provisions by S.I. 1994/242, arts. 2, 3, Sch., Appendix
S. 78(3) power partly exercised (10.3.1994): 1.4.1994 appointed for specified provisions by S.I. 1994/242, arts. 2, 3, Sch.
S. 78(3) power partly exercised (11.1.1995): 3.2.1995 appointed for specified provisions by S.I. 1995/43, art. 2, 3, Sch.
S. 78(3) power partly exercised (22.7.1995): 14.8.1995 appointed for specified provisions by S.I. 1995/1958, arts. 2, 3
S. 78(3) power partly exercised (20.7.1994): 22.8.1994 appointed for specified provisions by S.I. 1994/1951, art. 2
S. 78(3)(4) power partly exercised (19.4.1999): 1.6.1999 appointed for specified provisions by S.I. 1999/1189, art. 2
S. 78(3)(4) power partly exercised (26.5.1999): 1.6.1999 appointed for specified provisions by S.I.1999/1499, art. 2
Textual Amendments
F45Words in s. 78(6) substituted (retrospective to 27.7.1993) by 1994 c. 33, s. 168(1), Sch. 9 para. 53
F47S. 78(8)(12) repealed (25.8.1996) by 1996 c. 22, ss. 62(1), 63(7), Sch. 7 Pt. I
F48S. 78(11) repealed (19.2.2001) by 2000 c. 11, s. 125(2), Sch. 16 Pt. I; S.I. 2001/421, art. 2
Marginal Citations
(1)This Act may be cited as the Criminal Justice Act 1993.
(2)The following provisions of this Act extend to the United Kingdom—
Part V;
sections 21(1) and (3)(h), 23, 24, 45 to 51, 70 to 72, 77, 78 and this section;
Schedules 1 and 2; and
paragraphs 4 F49. . . and 6 of Schedule 4.
(3)The following provisions of this Act extend only to Great Britain—
sections F50. . .21(3)(e), F50. . .29 to 32, 34(1), 35, 67(1) and 73; and
paragraph 3 of Schedule 4.
(4)The following provisions of this Act extend only to Scotland—
sections 17, 19, 20(2), 21(3)(c) and (d), 22(2), 24(12) to (15), 26(2), 33, 68, 69, 75 and 76; and
paragraph 2 of Schedule 4.
(5)Sections 21(3)(f) and 34(2) [F51and paragraph 5 of Schedule 4]extend to Scotland and Northern Ireland only.
F52(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(7)Section 72 also extends to the Channel Islands and the Isle of Man.
(8)The provisions of Schedules 5 and 6 have the same extent as the provisions on which they operate.
(9)Otherwise, this Act extends to England and Wales only.
(10)Her Majesty may by Order in Council direct that such provisions of this Act as may be specified in the Order shall extend, with such exceptions and modifications as appear to Her Majesty to be appropriate, to any colony.
F53(11). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(12)An Order in Council under paragraph 1(1)(b) of Schedule 1 to the M48Northern Ireland Act 1974 (legislation for Northern Ireland in the interim period) which contains a statement that it is made only for purposes corresponding to purposes of any of sections 16, 18 and 29 to 32—
(a)shall not be subject to paragraph 1(4) and (5) of that Schedule (affirmative resolution of both Houses of Parliament); but
(b)shall be subject to annulment in pursuance of a resolution of either House of Parliament.
(13)Schedule 5 (consequential amendments) shall have effect.
(14)The repeals and revocations set out in Schedule 6 (which include the repeal of two enactments which are spent) shall have effect.
Textual Amendments
F49It is provided that the references to s. 25 nd Sch. 4 para. 5 in s. 79(2) are repealed (3.2.1995) by 1994 c. 37, ss. 65, 69(2), Sch. 1 para. 30(2), Sch. 3
F50Words in s. 79(3) repealed (3.2.1995) by 1994 c. 37, ss. 65, 69(2), Sch. 1 para. 30(3), Sch. 3
F51Words in s. 79(5) inserted (3.2.1995) by 1994 c. 37, ss. 65, 69(2), Sch. 1 para. 30(4)
F52S. 79(6) repealed (25.8.1996) by 1996 c. 22, ss. 62(1), 63(7), Sch. 7 Pt. I
F53S. 79(11) repealed (2.12.1999) by 1998 c. 47, ss. 100(2), Sch. 15; S.I. 1999/3209, art. 2
Commencement Information
I3S. 79 partly in force; s. 79(1)-(12) in force at Royal Assent see s. 78(2); s. 79(14) in force at 20.9.1993 in relation to specified provisions of Sch. 6 by S.I. 1993/1968, art. 2(2), Sch. 2, Appendix; s. 79(13)(14) in force at 15.2.1994 for specified purposes by S.I. 1994/71, arts. 2, 3, Sch., Appendix; s. 79(13)(14) in force at 1.3.1994 for further specified purposes by S.I. 1994/242, arts. 2, 3, Sch., Appendix; S. 79(13) in force at 1.4.1994 for further specified purposes by S.I. 1994/700, arts. 2, 3, Sch.
Marginal Citations
Section 53(4).
1(1)An individual is not guilty of insider dealing by virtue of dealing in securities or encouraging another person to deal if he shows that he acted in good faith in the course of—
(a)his business as a market maker, or
(b)his employment in the business of a market maker.
(2)A market maker is a person who—
(a)holds himself out at all normal times in compliance with the rules of a regulated market or an approved organisation as willing to acquire or dispose of securities; and
(b)is recognised as doing so under those rules.
(3)In this paragraph “approved organisation” means an international securities self-regulating organisation approved under paragraph 25B of Schedule 1 to the M49Financial Services Act 1986.
Marginal Citations
2(1)An individual is not guilty of insider dealing by virtue of dealing in securities or encouraging another person to deal if he shows that—U.K.
(a)the information which he had as an insider was market information; and
(b)it was reasonable for an individual in his position to have acted as he did despite having that information as an insider at the time.
(2)In determining whether it is reasonable for an individual to do any act despite having market information at the time, there shall, in particular, be taken into account—
(a)the content of the information;
(b)the circumstances in which he first had the information and in what capacity; and
(c)the capacity in which he now acts.
3U.K.An individual is not guilty of insider dealing by virtue of dealing in securities or encouraging another person to deal if he shows—
(a)that he acted—
(i)in connection with an acquisition or disposal which was under consideration or the subject of negotiation, or in the course of a series of such acquisitions or disposals; and
(ii)with a view to facilitating the accomplishment of the acquisition or disposal or the series of acquisitions or disposals; and
(b)that the information which he had as an insider was market information arising directly out of his involvement in the acquisition or disposal or series of acquisitions or disposals.
4U.K.For the purposes of paragraphs 2 and 3 market information is information consisting of one or more of the following facts—
(a)that securities of a particular kind have been or are to be acquired or disposed of, or that their acquisition or disposal is under consideration or the subject of negotiation;
(b)that securities of a particular kind have not been or are not to be acquired or disposed of;
(c)the number of securities acquired or disposed of or to be acquired or disposed of or whose acquisition or disposal is under consideration or the subject of negotiation;
(d)the price (or range of prices) at which securities have been or are to be acquired or disposed of or the price (or range of prices) at which securities whose acquisition or disposal is under consideration or the subject of negotiation may be acquired or disposed of;
(e)the identity of the persons involved or likely to be involved in any capacity in an acquisition or disposal.
5(1)An individual is not guilty of insider dealing by virtue of dealing in securities or encouraging another person to deal if he shows that he acted in conformity with the price stabilisation rules.
(2)In this paragraph “the price stabilisation rules” means rules which—
(a)are made under section 48 of the M50Financial Services Act 1986 (conduct of business rules); and
(b)make provision of a description mentioned in paragraph (i) of subsection (2) of that section (price stabilisation rules).
Marginal Citations
Section 54.
1U.K.Shares and stock in the share capital of a company (“”).
2U.K.Any instrument creating or acknowledging indebtedness which is issued by a company or public sector body, including, in particular, debentures, debenture stock, loan stock, bonds and certificates of deposit (“debt securities”).
3U.K.Any right (whether conferred by warrant or otherwise) to subscribe for shares or debt securities (“warrants”).
4(1)The rights under any depositary receipt.U.K.
(2)For the purposes of sub-paragraph (1) a “depositary receipt” means a certificate or other record (whether or not in the form of a document)—
(a)which is issued by or on behalf of a person who holds any relevant securities of a particular issuer; and
(b)which acknowledges that another person is entitled to rights in relation to the relevant securities or relevant securities of the same kind.
(3)In sub-paragraph (2) “relevant securities” means shares, debt securities and warrants.
5U.K.Any option to acquire or dispose of any security falling within any other paragraph of this Schedule.
6(1)Rights under a contract for the acquisition or disposal of relevant securities under which delivery is to be made at a future date and at a price agreed when the contract is made.U.K.
(2)In sub-paragraph (1)—
(a)the references to a future date and to a price agreed when the contract is made include references to a date and a price determined in accordance with terms of the contract; and
(b)“relevant securities” means any security falling within any other paragraph of this Schedule.
7(1)Rights under a contract which does not provide for the delivery of securities but whose purpose or pretended purpose is to secure a profit or avoid a loss by reference to fluctuations in—U.K.
(a)a share index or other similar factor connected with relevant securities;
(b)the price of particular relevant securities; or
(c)the interest rate offered on money placed on deposit.
(2)In sub-paragraph (1) “relevant securities” means any security falling within any other paragraph of this Schedule.
Section 65(3).
1(1)In section 17 of the M51Criminal Justice Act 1991 (increases in certain maximum fines), subsection (3)(e) shall cease to have effect.E+W
(2)In Schedule 4 to that Act (increase of certain maxima) Part V shall cease to have effect.
Marginal Citations
F542E+W. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F54Sch. 3 para. 2 repealed (25.8.2000) by 2000 c. 6, ss. 165, 168(1), Sch. 12 Pt. I (with Sch. 11 paras. 1, 2)
F553E+W. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F55Sch. 3 para. 3 repealed (25.8.2000) by 2000 c. 6, ss. 165, 168(1), Sch. 12 Pt. I (with Sch. 11 paras. 1, 2)
4E+WSection 22 of the Act of 1991 (default in paying fines fixed under section 18 of that Act) shall cease to have effect.
F565E+W. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F56Sch. 3 para. 5 repealed (25.8.2000) by 2000 c. 6, ss. 165, 168(1), Sch. 12 Pt. I (with Sch. 11 paras. 1, 2)
6F57(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W
F57(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)In section 97 of the M52Magistrates’ Courts Act 1980 (maximum fine for refusal to give evidence), the following subsection shall be substituted for subsection (5)—
“(5)A fine imposed under subsection (4) above shall be deemed, for the purposes of any enactment, to be a sum adjudged to be paid by a conviction.”.
(4)In section 12 of the M53Contempt of Court Act 1981 (maximum fine for contempt in face of magistrates’ court), the following subsection shall be substituted for subsection (2A)—
“(2A)A fine imposed under subsection (2) above shall be deemed, for the purposes of any enactment, to be a sum adjudged to be paid by a conviction.”.
(5)In section 14 of that Act (maximum fine for contempt in an inferior court), the following subsection shall be substituted for the subsection (2A) inserted by the M54Criminal Justice Act 1991—
“(2A)A fine imposed under subsection (2) above shall be deemed, for the purposes of any enactment, to be a sum adjudged to be paid by a conviction.”.
F57(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F57(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F57Sch. 3 para. 6(1)(2)(6)(7) repealed (25.8.2000) by 2000 c. 6, ss. 165, 168(1), Sch. 12 Pt. I (with Sch. 11 paras. 1, 2)
Marginal Citations
Section 77.
F581E+W. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F58Sch. 4 para. 1 repealed (3.2.1995) by 1994 c. 37, ss. 67, 69(2), Sch. 3 (with saving in Sch. 2 para. 10)
2SThe same section as is inserted in the Act of 1986 by paragraph 1 shall be inserted in the Criminal Justice (Scotland) Act 1987, after section 46, as section 46A, but with the substitution—
(a)in subsection (1), of “ sections 42 to 43B of this Act ” for “sections 23A, 24, 26B, 26C and 31 of this Act”; and
(b)in subsection (2), of “ 43A ” for “26B”.
3E+W+SThe same section as is inserted in the Act of 1986 by paragraph 1 shall be inserted in the Criminal Justice Act 1988, after section 93F, as section 93G, but with—
(a)the substitution in subsection (1), of “ sections 93A, 93B, 93C(2) and 93D above ” for “sections 23A, 24, 26B, 26C and 31 of this Act”; and
(b)the omission of subsections (2) to (4).
F594U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F59Sch. 4 para. 4 repealed (19.2.2001) by 2000 c. 11, s. 125(2), Sch. 16 Pt. I; S.I. 2001/421, art. 2
[F605S+N.I.The same section as is inserted in the Act of 1986 by paragraph 1 shall be inserted in the Criminal Justice (International Co-operation) Act 1990, after section 23, as section 23A, but with—
(a)the substitution in subsection (1), of “ section 14(2) above ” for “sections 23A, 24, 26B, 26C and 31 of this Act”; and
(b)the omission of subsections (2) to (4).]
Textual Amendments
F60Sch. 4 para. 5 repealed (E.W.) (3.2.1995) by 1994 c. 37, ss. 67, 69(2), Sch. 3
F616U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F61Sch. 4 para. 6 repealed (25.8.1996) by 1996 c. 22, ss. 62(1), 63(7), Sch. 7 Pt. I
Section 79(13).
Extent Information
E10The provisions of Sch. 5 have the same extent as the provisions on which they operate
1U.K.In section 50 of the Criminal Appeal Act 1968 (meaning of “sentence”), the following shall be substituted for subsection (1)—
“(1)In this Act “sentence”, in relation to an offence, includes any order made by a court when dealing with an offender including, in particular—
(a)a hospital order under Part III of the M55Mental Health Act 1983, with or without a restriction order;
(b)an interim hospital order under that Part;
(c)a recommendation for deportation;
(d)a confiscation order under the M56Drug Trafficking Offences Act 1986 other than one made by the High Court;
(e)a confiscation order under Part VI of the M57Criminal Justice Act 1988;
(f)an order varying a confiscation order of a kind which is included by virtue of paragraph (d) or (e) above;
(g)an order made by the Crown Court varying a confiscation order which was made by the High Court by virtue of section 4A of the Act of 1986; and
(h)a declaration of relevance under the M58Football Spectators Act 1989.”.
F622U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F62Sch. 5 para. 2 repealed (1.4.1996) by 1995 c. 40, ss. 6, 7(2), Sch. 5 (with Sch. 3 paras. 1, 3)
F633U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F63Sch. 5 para. 3 repealed (25.8.1996) by 1996 c. 22, ss. 62(1), 63(7), Sch. 7 Pt. I
4(1)In section 744 of the Companies Act 1985 (interpretation), for the definition of “the Insider Dealing Act”, there shall be substituted—U.K.
““the insider dealing legislation” means Part V of the Criminal Justice Act 1993 (insider dealing).”
(2)In the 1985 Act for “Insider Dealing Act”, wherever it occurs, there shall be substituted “ insider dealing legislation ”.
F645U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F64Sch. 5 para. 5 repealed (3.2.1995) by 1994 c. 37, ss. 67, 69(2), Sch. 3
F656U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F65Sch. 5 para. 6 repealed (3.2.1995) by 1994 c. 37, ss. 67, 69(2), Sch. 3
7The Financial Services Act 1986 shall be amended as follows.
8In section 128C(3)(b) (enforcement in support of overseas regulatory authority) for “the M59Company Securities (Insider Dealing) Act 1985” there shall be substituted “ Part V of the Criminal Justice Act 1993 (insider dealing) ”.
9(1)In section 177 (investigations into insider dealing), in subsection (1)—
(a)for the words “there may have been a contravention of section 1, 2, 4 or 5 of the Company Securities (Insider Dealing) Act 1985” there shall be substituted “ an offence under Part V of the Criminal Justice Act 1993 (insider dealing) may have been committed ”; and
(b)for the words “contravention has occurred” there shall be substituted “ offence has been committed ”.
(2)In subsection (3) of that section—
(a)for the word “contravention” there shall be substituted “ offence ”; and
(b)in paragraph (a) for the words from “relating to” to the end there shall be substituted “ which appear to them to be relevant to the investigation ”.
(3)In subsection (4) of that section for the word “contravention” there shall be substituted “ offence ”.
10(1)In section 178 (penalties for failure to co-operate with s. 177 investigations), in subsection (1) for the words “contravention has occurred” there shall be substituted “ offence has been committed ”.
(2)In subsection (6) of that section for the words “contravention or suspected contravention” there shall be substituted “ offence or suspected offence ”.
11In subsection (1) of section 189 (restriction of Rehabilitation of Offenders Act 1974), in paragraph (b) “(including insider dealing)” shall be omitted and at the end there shall be inserted “ or insider dealing ”.
12(1)In section 199 (powers of entry), in subsection (1) for paragraph (b) there shall be substituted—
“(b)under Part V of the Criminal Justice Act 1993 (insider dealing).”.
(2)After subsection (8) of that section there shall be inserted—
“(8A)In the application of this section to Northern Ireland for the references to information on oath substitute references to complaint on oath.”.
13In section 84(6)(b) of the Banking Act 1987 (disclosure for facilitating discharge of functions by other supervisory authorities) for “the Company Securities (Insider Dealing) Act 1985” there shall be substituted “ Part V of the Criminal Justice Act 1993 (insider dealing) ”.
14(1)Section 98 of the Criminal Justice Act 1988 (disclosure of information subject to contractual restriction on disclosure) shall cease to have effect.U.K.
(2)In section 172 of the 1988 Act (extent)—
(a)in subsection (2), after “84 to 88” there shall be inserted “ sections 93A to 93D; sections 93F and 93G ”; and
(b)in subsection (4), after “sections 90 to 93” there shall be inserted “ section 93E ”.
Commencement Information
I4Sch. 5 para. 14 partly in force; Sch. 5 para. 14 not in force at Royal Assent, see s. 78(3); Sch. 5 para. 14 in force at 15.2.1994 by S.I. 1994/71, arts. 2, 3, Sch.
F6615U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F66Sch. 5 para. 15 repealed (19.2.2001) by 2000 c. 11, s. 125(2), Sch. 16 Pt. I; S.I. 2001/421, art. 2
16U.K.In section 82(2)(b) of the Companies Act 1989 (request for assistance by overseas regulatory authority) for “the Company Securities (Insider Dealing) Act 1985” there shall be substituted “ Part V of the Criminal Justice Act 1993 (insider dealing) ”.
F6717U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F67Sch. 5 para. 17 repealed (25.8.1996) by 1996 c. 22, ss. 62(1), 63(7), Sch. 7 Pt. I
18(1)In Article 2(3) of the Companies (Northern Ireland) Order 1986 (interpretation), for the definition of “the Insider Dealing Order” there shall be substituted—U.K.
““the insider dealing legislation” means Part V of the Criminal Justice Act 1993 (insider dealing)”;
(2)In the 1986 Order, for “Insider Dealing Order”, wherever it occurs, there shall be substituted “ insider dealing legislation ”.
19(1)In Article 442 of that Order (provision for security of information obtained), in paragraph (1), in sub-paragraph (c) for “Article 16A of the Insider Dealing Order or section 94” there shall be substituted “ section 94 or 177 ”.U.K.
(2)In paragraph (3) of that Article, in sub-paragraph (b) for “Article 16A of the Insider Dealing Order or section 94” there shall be substituted “ section 94 or 177 ”.
20U.K.In paragraph (3) of Article 444A of that Order (disclosure of information by Department or inspector) in sub-paragraph (a) for “Article 16A of the Insider Dealing Order or section 94” there shall be substituted “ section 94 or 177 ”.
21U.K.In Article 3(1) of the Companies (Northern Ireland) Order 1989 (interpretation), in the definition of “the companies legislation”, for “the Insider Dealing Order” there shall be substituted “ Part V of the Criminal Justice Act 1993 (insider dealing) ”.
22U.K.In Article 104A(1)(c) of the Insolvency (Northern Ireland) Order 1989 (petition for winding-up on grounds of public interest) after “94” there shall be inserted “ or 177 ”.
Section 79(14).
Commencement Information
I5Sch. 6 partly in force; Sch. 6 in force at Royal Assent in so far as relating to specified provisions see s. 78(2); Sch. 6 in force at 20.9.1993 in relation to further specified provisions by S.I. 1993/1968 art. 2(2), Sch. 2, Appendix; Sch. 6 in force at 15.2.1994 for further specified provisions by S.I. 1994/71, arts. 2, 3, Sch., Appendix; Sch. 6 in force at 1.3.1994 for further specified provisions by S.I. 1994/242, arts. 2, 3, Sch., Appendix, Sch. 6 in force at 3.2.1995 for further specified provisions by S.I. 1995/43, art. 2, Sch.
| Chapter | Short title | Extent of repeal |
|---|---|---|
| 1975 c. 21. | The Criminal Procedure (Scotland) Act 1975. | In section 442B, the words “against sentence alone”. |
| 1980 c. 43. | The Magistrates Courts Act 1980. | In section 12(1)(a) the words “and section 18 of the Criminal Justice Act 1991 (unit fines)”. |
| 1985 c. 8. | The Company Securities (Insider Dealing) Act 1985. | The whole Act. |
| 1986 c. 32. | The Drug Trafficking Offences Act 1986. | In section 1, in subsection (5)(b)(iii), the words from “section 39” to “bankruptcy orders)” and subsection (8).In section 5(3), the words “sections 3 and 4 of”.In section 26A(3), the words from “or by” to the end.In section 27(5), the words “or, as the case may be, the sheriff”.In section 38(2), the entries relating to a confiscation order and a defendant. |
| 1986 c. 60. | The Financial Services Act 1986. | Sections 173 to 176.In section 189(1)(b), the words “(including insider dealing)”.In Schedule 16, paragraphs 28 and 43. |
| 1987 c. 22. | The Banking Act 1987. | In section 84(1), in the Table, in the entry beginning “An inspector appointed under Part XV of the Companies (Northern Ireland) Order” in the left-hand column the words “or under Article 16A of the Company Securities (Insider Dealing) (Northern Ireland) Order 1986” and in the right hand column the words “or that Article”. |
| 1987 c. 38. | The Criminal Justice Act 1987. | In section 3(6)(i), the words “or any corresponding enactment having effect in Northern Ireland”. |
| 1988 c. 33. | The Criminal Justice Act 1988. | Section 48.Section 98. |
| 1989 c. 4. | The Prevention of Terrorism (Temporary Provisions) Act 1989. | In section 9(1), the word “or” immediately before paragraph (b). |
| 1989 c. 40. | The Companies Act 1989. | Section 209. |
| 1990 c. 5. | The Criminal Justice (International Co-operation) Act 1990. | Section 14(3) and (5). |
| 1991 c. 24. | The Northern Ireland (Emergency Provisions) Act 1991. | In section 48(3), the words “during the period of postponement”.In section 50(2), the word “or” immediately before paragraph (c).Section 51(3).Section 67(6). |
| 1991 c. 53. | The Criminal Justice Act 1991. | Section 17(3)(e).Section 19.Section 20(5).Section 22.Section 28(3).In section 30(1), the words “or the Lord Chancellor”.In Schedule 4, Part V.In Schedule 11, paragraph 24. |
| 1993 c. 9. | The Prisoners and Criminal Proceedings (Scotland) Act 1993. | In section 10(1), the words “(whether before or after the commencement of this section)”. |
| Number | Title | Extent of revocation |
|---|---|---|
| S.I. 1986/1034 (N.I. 8). | The Company Securities (Insider Dealing) (Northern Ireland) Order 1986. | The whole Order. |
| S.I. 1989/2404 (N.I. 18). | The Companies (Northern Ireland) Order 1989. | In Article 2(2), the definition of “the Insider Dealing Order”.In Article 11(1), the words “or Article 16A of the Insider Dealing Order”.Articles 27 to 34.Article 35(2) and (3). |
| S.I. 1989/2405 (N.I. 19). | The Insolvency (Northern Ireland) Order 1989. | Article 104A(1)(b). |
| S.I. 1990/1504 (N.I. 10). | The Companies (No.2) (Northern Ireland) Order 1990. | In Article 2(2), the definition of “the Insider Dealing Order”.Articles 21 to 23. |
| S.I. 1992/3218. | The Banking Coordination (Second Council Directive) Regulations 1992. | In Schedule 8, paragraphs 8(3), 9(2) and 10(3).In Schedule 10, paragraphs 17 and 25. |