Economic Crime and Corporate Transparency Act 2023

191 Meaning of “relevant actions”

In sections 188 and 189, “relevant actions”, of a person, means the actions of—

(a) determining, for the purposes of preventing, detecting or investigating economic crime—

(i) whether it is appropriate to apply any customer due diligence measures, or any similar measures, in respect of a customer or proposed customer of the person;

(ii) the nature or extent of the measures;

(b) carrying out, for such purposes—

(i) effective measures for identifying or verifying the identity of, or

(ii) any other customer due diligence measures in respect of,

a customer or proposed customer of the person;

(c) determining, for such purposes, whether it is appropriate to—

(i) terminate an existing business relationship with a customer or proposed customer of the person;

(ii) decline to establish a new business relationship with such a customer;

(iii) decline to provide a product or service to such a customer;

(iv) restrict the access of such a customer to an existing product or service which is normally available to other customers;

(v) decline to carry out a transaction for such a customer.