The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017

Obligations on public authorities

103.—(1) The following bodies and persons must, if they know or suspect or have reasonable grounds for knowing or suspecting that a person is or has engaged in money laundering or terrorist financing, as soon as practicable, inform the NCA—

(a) the Auditor General for Scotland;

(b) the Auditor General for Wales;

(c) the Bank of England;

(d) the Comptroller and Auditor General;

(e) the Comptroller and Auditor General for Northern Ireland;

(f) the FCA;

(g) the Gambling Commission;

(h) the Official Solicitor to the Supreme Court;

(i) the Pensions Regulator;

(j) the PRA;

(k) the Public Trustee;

(l) the Secretary of State, in the exercise of his or her functions under enactments relating to companies and insolvency;

(m) the Treasury, in the exercise of their functions under FSMA;

(n) the Treasury Solicitor;

(o) a designated professional body for the purposes of Part 20 of FSMA (provision of financial services by members of the professions);

(p) a person or inspector appointed under section 65 (investigations on behalf of FCA) or 66 (inspections and special meetings) of the Friendly Societies Act 1992(1);

(q) an inspector appointed under section 106 of the Co-operative and Community Benefit Societies 2014(2) (appointment of inspectors) or section 18 of the Credit Unions Act 1979(3) (power to appoint inspector);

(r) an inspector appointed under section 431 (investigation of a company on its own application), 432 (other company investigations), 442 (power to investigate company ownership) or 446D (appointment of replacement inspectors) of the Companies Act 1985(4);

(s) a person or inspector appointed under section 55 (investigations on behalf of FCA) or 56 (inspections and special meetings) of the Building Societies Act 1986(5);

(t) a person appointed under section 167 (appointment of persons to carry out investigations), 168(3) or (5) (appointment of persons to carry out investigations in particular cases), 169(1)(b) (investigations to support overseas regulator) or 284 (power to investigate affairs of a scheme) of FSMA(6), or under regulations made under section 262(2)(k) (open-ended investment companies) of that Act(7), to conduct an investigation; and

(u) a person authorised to require the production of documents under section 447 (Secretary of State’s power to require production of documents) of the Companies Act 1985(8), or section 84 of the Companies Act 1989(9) (exercise of powers by officer).

(2) A disclosure made under paragraph (1) is not to be taken to breach any restriction, however imposed, on the disclosure of information.

(3) Where a disclosure under paragraph (1) is made in good faith, no civil liability arises in respect of the disclosure on the part of the person by whom, or on whose behalf, it is made.

(1)

1992 c.40. Section 65 was amended by S.I. 1994/1984; 2001/2617 and 2013/496. Section 66 was amended by S.I. 2009/1941 and 2013/496.

(2)

2014 c.14.

(3)

1979 c.34. Section 18 was amended by paragraph 9 of Schedule 4 to the Co-operative and Community Benefit Society Act (c.14) and by S.I. 2001/2617; 2002/1501 and 2013/496.

(4)

1985 c.6. Section 431 was amended by section 1035(2) of the Companies Act 2006 (c.46) and S.I. 2003/1116, section 432 was amended by sections 55 and 213 of the Companies Act 1989 (c. 40), section 1035(3) of the Companies Act 2006, section 442 was amended by sections 62 and 213(2) of the Companies Act 1989and by paragraph 1 of Schedule 16 to the Companies Act 2006 and section 446D was inserted by section 1036 of the Companies Act 2006.

(5)

1986 c.53. Section 55 was amended by paragraph 21 of Schedule 7 to the Building Societies Act 1987 (c.37) and by S.I. 2013/496, and section 56 was amended by paragraph 22 of Schedule 7 to the Building Societies Act 1997 and by S.I. 2013/496.

(6)

Section 167 was amended by paragraph 7 of Schedule 12 to the Financial Services Act 2012 (c.21), and by S.I. 2005/575 and 2007/126, section 168(5) and been amended by paragraph 8 of Schedule 12 to the Financial Services Act 2012, section 284 was amended by paragraph 17 of Schedule 18 to the Financial Services Act 2012.

(7)

Section 262(2)(k) was amended by paragraph 9 of Schedule 18 to the Financial Services Act 2012.

(8)

1985 c.6. Section 447 was amended by section 21 of the Companies (Audit, Investigations and Community Enterprise) Act 2004 (c.27), and by section 1038 of the Companies Act 2006.

(9)

1989 c.40.