The Proceeds of Crime Act 2002 (Business in the Regulated Sector and Supervisory Authorities) Order 2003

Citation, commencement and interpretation

1.—(1) This Order may be cited as the Proceeds of Crime Act 2002 (Business in the Regulated Sector and Supervisory Authorities) Order 2003 and comes into force on 1st March 2004.

(2) Despite paragraph (1) above—

(a) paragraph 2(g) of Schedule 9 (as inserted by this Order) and the reference to it in paragraph 3(2) have no effect until 31st October 2004;

(b) paragraph 2(h) of that Schedule and the reference to it in paragraph 3(2) have no effect until 14th January 2005.

(3) In this Order—

“the Act” means the Proceeds of Crime Act 2002; and

“Schedule 9” means Schedule 9 to the Act.

Amendment of Part 1 of Schedule 9

2.  For Part 1 of Schedule 9 (regulated sector), substitute the text set out in the Schedule to this Order.

Amendment of Part 2 of Schedule 9

3.  In Part 2 of Schedule 9 (supervisory authorities), in paragraph 4 insert after sub-paragraph (1)(e)—

• “;

  (f)

  the Occupational Pensions Regulatory Authority;

  (g)

  the Gaming Board for Great Britain”.

Transitional provision

4.  Sections 330 and 331 of the Act shall not have effect in relation to a person who engages in any of the activities mentioned in paragraph 1(1)(f) to (n) of Schedule 9 (as substituted by article 2 above) where the information or other matter on which knowledge or suspicion that another person is engaged in money laundering is based, or which gives reasonable grounds for such knowledge or suspicion, came to that person before 1st March 2004.

John Heppell

Nick Ainger

Two of the Lords Commissioners of Her Majesty’s Treasury

28 November 2003