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Part 2 E+W+S+N.I.Investigations, prosecutions, proceedings and proceeds of crime

Chapter 6E+W+S+N.I.Proceeds of crime

106Money laundering: miscellaneous amendmentsE+W+S+N.I.

(1)In the Proceeds of Crime Act 2002, Part 7 (money laundering) is amended as follows.

(2)In section 330 (regulated sector: failure to disclose), after subsection (9) insert—

(9A)But a disclosure which satisfies paragraphs (a) and (b) of subsection (9) is not to be taken as a disclosure to a nominated officer if the person making the disclosure—

(a)is a professional legal adviser,

(b)makes it for the purpose of obtaining advice about making a disclosure under this section, and

(c)does not intend it to be a disclosure under this section.

(3)In section 337(5)(a) (disclosure to person nominated to receive disclosures under section 337), after “disclosures under” insert “ section 330 or ”.

(4)In section 338(1)(c) (first or second condition must be satisfied for disclosure to be authorised), for “or second” substitute “ , second or third ”.

(5)In section 338 (authorised disclosures), after subsection (2) insert—

(2A)The second condition is that—

(a)the disclosure is made while the alleged offender is doing the prohibited act,

(b)he began to do the act at a time when, because he did not then know or suspect that the property constituted or represented a person's benefit from criminal conduct, the act was not a prohibited act, and

(c)the disclosure is made on his own initiative and as soon as is practicable after he first knows or suspects that the property constitutes or represents a person's benefit from criminal conduct.

(6)In section 338(3) (the second condition), for “second” substitute “ third ”.

Annotations:

Commencement Information

I1S. 106 in force at 1.7.2005 by S.I. 2005/1521, art. 3(1)(c)