Sanctions and Anti-Money Laundering Act 2018 (c. 13)

PART 2 U.K. Anti-money laundering

49 Money laundering and terrorist financing etc U.K.

(1) An appropriate Minister may by regulations make provision for one or more of the following purposes—

(a) enabling or facilitating the detection or investigation of money laundering, or preventing money laundering;

(b) enabling or facilitating the detection or investigation of terrorist financing, or preventing terrorist financing;

(c) the implementation of Standards published by the Financial Action Task Force from time to time relating to combating threats to the integrity of the international financial system.

(2) Schedule 2 makes further provision about regulations under this section.

(3) In this Part—

• “money laundering” has the meaning given by section 340(11) of the Proceeds of Crime Act 2002;

• “terrorist financing” means an act which constitutes an offence under—

  (a)

  section 15 (fund-raising), 16 (use and possession), 17 (funding arrangements), 18 (money laundering) or 63 (terrorist finance: jurisdiction) of the Terrorism Act 2000,

  (b)

  paragraph 7(2) or (3) of Schedule 3 (freezing orders: offences) to the Anti-terrorism, Crime and Security Act 2001,

  (ba)

  [F1 any of regulations 8 to 13 of the ISIL (Da'esh) and Al-Qaida (United Nations Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/466),]

  (c)

  [F2 any of regulations 11 to 16 of the Counter-Terrorism (International Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/573), or]

  (ca)

  [F3 any of regulations 11 to 16 of the Counter-Terrorism (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/577).]

  (d)

  F4 ...

Textual Amendments

F1 Words in s. 49(3) inserted (31.12.2020 immediately after IP completion day) by S.I. 2019/466, reg. 58B(2) (as inserted by The Sanctions (EU Exit) (Consequential Provisions) (Amendment) Regulations 2020 (S.I. 2020/1289), regs. 1(2), 2(2); S.I. 2020/1514, reg. 21)

F2 Words in s. 49(3) substituted (31.12.2020 immediately after IP completion day) by S.I. 2019/573, reg. 60B(2) (as inserted by The Sanctions (EU Exit) (Consequential Provisions) (Amendment) Regulations 2020 (S.I. 2020/1289), regs. 1(2), 3(2); S.I. 2020/1514, reg. 21)

F3 Words in s. 49(3) inserted (31.12.2020 immediately after IP completion day) by S.I. 2019/577, reg. 34B(2) (as inserted by The Sanctions (EU Exit) (Consequential Provisions) (Amendment) Regulations 2020 (S.I. 2020/1289), regs. 1(2), 4(2); S.I. 2020/1514, reg. 21)

F4 Words in s. 49(3) repealed (31.12.2020) by Sanctions and Anti-Money Laundering Act 2018 (c. 13), s. 64(2), Sch. 3 para. 9 (with ss. 52(3), 53, 58); S.I. 2020/1535, reg. 3(e)

Commencement Information

I1 S. 49 in force at 31.12.2020 by S.I. 2020/1535, reg. 3(a)