Serious Organised Crime and Police Act 2005
2005 CHAPTER 15
The Act
Commentary on Sections
Chapter 6: Proceeds of Crime
Section 106: Money laundering: miscellaneous amendments
231.Section 106(2) amends section 330 of the Proceeds of Crime Act 2002 so that the nominated officer advising a professional legal adviser in a firm of solicitors is not obliged to make a disclosure where the professional legal adviser, who has information that came to him/her in privileged circumstances, has made a report to the nominated officer for the purposes of seeking his/her advice about whether the facts known to him/her give rise to a need to make a formal disclosure.
232.Subsection (5) amends section 338 by adding a further condition to the circumstances in which a disclosure will be “authorised” for the purpose of affording a defence to the principal money laundering offences in the Act. This covers the circumstances when the person required to make a disclosure does not initially suspect that the property is criminal property.
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