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Financial Services Act 2021
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- UK Public General Acts
- 2021 c. 22
- SCHEDULE 12
- Proceeds of Crime Act...
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Changes over time for: Cross Heading: Proceeds of Crime Act 2002 (c. 29)
Version Superseded: 28/06/2022
Alternative versions:
- 29/04/2021- Amendment
- 28/06/2021- Amendment
- 28/06/2021
Point in time - 28/06/2022- Amendment
Status:
Point in time view as at 28/06/2021.
Changes to legislation:
Financial Services Act 2021, Cross Heading: Proceeds of Crime Act 2002 (c. 29) is up to date with all changes known to be in force on or before 03 June 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes to Legislation
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Proceeds of Crime Act 2002 (c. 29)U.K.
10U.K.Part 5 of the Proceeds of Crime Act 2002 (civil recovery of the proceeds etc of unlawful conduct) is amended as follows.
Commencement Information
I1Sch. 12 para. 10 in force at Royal Assent for E.W.S., see. s. 49(1)(a)
I2Sch. 12 para. 10 in force at 28.6.2021 for N.I. by S.I. 2021/739, reg. 2
11U.K.Chapter 3B (forfeiture of money held in bank and building society accounts) is amended in accordance with paragraphs 12 to 20.
Commencement Information
I3Sch. 12 para. 11 in force at Royal Assent for E.W.S., see. s. 49(1)(a)
I4Sch. 12 para. 11 in force at 28.6.2021 for N.I. by S.I. 2021/739, reg. 2
12U.K.In the Chapter heading, for “bank and building society” substitute “ certain ”.
Commencement Information
I5Sch. 12 para. 12 in force at Royal Assent for E.W.S., see. s. 49(1)(a)
I6Sch. 12 para. 12 in force at 28.6.2021 for N.I. by S.I. 2021/739, reg. 2
13U.K.In the italic heading before section 303Z1, for “bank and building society” substitute “ certain ”.
Commencement Information
I7Sch. 12 para. 13 in force at Royal Assent for E.W.S., see. s. 49(1)(a)
I8Sch. 12 para. 13 in force at 28.6.2021 for N.I. by S.I. 2021/739, reg. 2
14(1)Section 303Z1 (application for account freezing order) is amended as follows.U.K.
(2)In subsection (1), for “bank or building society” substitute “ relevant financial institution ”.
(3)After subsection (5) insert—
“(5A)In this Chapter as it extends to England and Wales and Scotland, “relevant financial institution” means—
(a)a bank,
(b)a building society,
(c)an electronic money institution, or
(d)a payment institution.”
(4)After subsection (5A) insert—
“(5B)In this Chapter as it extends to Northern Ireland, “relevant financial institution” means—
(a)a bank, or
(b)a building society.”
(5)In subsection (6), at the appropriate places insert—
““electronic money institution” has the same meaning as in the Electronic Money Regulations 2011 (S.I. 2011/99) (see regulation 2 of those Regulations);”, and
““payment institution” means an authorised payment institution or a small payment institution (each as defined in regulation 2 of the Payment Services Regulations 2017 (S.I. 2017/752));”.
Commencement Information
I9Sch. 12 para. 14 in force at Royal Assent for E.W.S., see. s. 49(1)(a)
I10Sch. 12 para. 14 in force at 28.6.2021 for N.I. by S.I. 2021/739, reg. 2
15U.K.In section 303Z2(3) (restrictions on making of application under section 303Z1), for “bank or building society” substitute “ relevant financial institution ”.
Commencement Information
I11Sch. 12 para. 15 in force at Royal Assent for E.W.S., see. s. 49(1)(a)
I12Sch. 12 para. 15 in force at 28.6.2021 for N.I. by S.I. 2021/739, reg. 2
16U.K.In section 303Z6(1), for “bank or building society” substitute “ relevant financial institution ”.
Commencement Information
I13Sch. 12 para. 16 in force at Royal Assent for E.W.S., see. s. 49(1)(a)
I14Sch. 12 para. 16 in force at 28.6.2021 for N.I. by S.I. 2021/739, reg. 2
17U.K.In section 303Z8(4), for “bank or building society” substitute “ relevant financial institution ”.
Commencement Information
I15Sch. 12 para. 17 in force at Royal Assent for E.W.S., see. s. 49(1)(a)
I16Sch. 12 para. 17 in force at 28.6.2021 for N.I. by S.I. 2021/739, reg. 2
18U.K.In section 303Z9(6)(b) (account forfeiture notice: England and Wales and Northern Ireland), for “bank or building society” substitute “ relevant financial institution ”.
Commencement Information
I17Sch. 12 para. 18 in force at Royal Assent for E.W.S., see. s. 49(1)(a)
I18Sch. 12 para. 18 in force at 28.6.2021 for N.I. by S.I. 2021/739, reg. 2
19(1)Section 303Z11 (lapse of account forfeiture notice) is amended as follows.U.K.
(2)In subsection (6), for “bank or building society” substitute “ relevant financial institution ”.
(3)In subsection (7)—
(a)for “If the bank or building society” substitute “ If the relevant financial institution ”, and
(b)for “on the bank or building society” substitute “ on the institution ”.
Commencement Information
I19Sch. 12 para. 19 in force at Royal Assent for E.W.S., see. s. 49(1)(a)
I20Sch. 12 para. 19 in force at 28.6.2021 for N.I. by S.I. 2021/739, reg. 2
20U.K.In section 303Z14(7)(a) (forfeiture order), for “bank or building society” substitute “ relevant financial institution ”.
Commencement Information
I21Sch. 12 para. 20 in force at Royal Assent for E.W.S., see. s. 49(1)(a)
I22Sch. 12 para. 20 in force at 28.6.2021 for N.I. by S.I. 2021/739, reg. 2
21U.K.In section 316(1) (general interpretation of Part 5), at the appropriate places insert—
““electronic money institution” (in Chapter 3B) has the meaning given by section 303Z1(6),”,
““payment institution” (in Chapter 3B) has the meaning given by section 303Z1(6),”, and
““relevant financial institution” (in Chapter 3B) has the meaning given by section 303Z1,”.
Commencement Information
I23Sch. 12 para. 21 in force at Royal Assent for E.W.S., see. s. 49(1)(a)
I24Sch. 12 para. 21 in force at 28.6.2021 for N.I. by S.I. 2021/739, reg. 2
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