41

1

The following are relevant firms for the purposes of regulation 40 (finance: reporting obligations)—

a

a relevant institution;

b

an undertaking that by way of business—

i

operates a currency exchange office,

ii

transmits money (or any representation of monetary value) by any means, or

iii

cashes cheques that are made payable to customers;

c

a firm or sole practitioner that provides to other persons, by way of business—

i

accountancy services,

ii

advice about tax affairs,

iii

auditing services,

iv

legal or notarial services, or

v

trust or company services;

d

a firm or sole practitioner that carries out, or whose employees carry out, estate agency work;

e

the holder of a licence to operate a casino in the Territory;

f

a person engaged in the business of making, supplying, selling (including selling by auction) or exchanging—

i

articles made from gold, silver, platinum or palladium, or

ii

precious stones or pearls.

2

For the purposes of paragraph (1), the following definitions apply—

• “estate agency work”, in relation to the Territory, is to be read in accordance with section 1 of the Estate Agents Act 197912, but as if references in that section to disposing of or acquiring an interest in land included (despite anything in section 2 of that Act) references to disposing of or acquiring an estate or interest in land outside the Territory where that estate or interest is capable of being owned or held as a separate interest;

• “firm” means any entity that, whether or not a legal person, is not an individual, and includes a body corporate and a partnership or other unincorporated body;

• “relevant institution” has the same meaning as it has in regulation 31;

• “trust or company services” means any of the following services—

  1. a

     forming companies or other legal persons;

  2. b

     acting, or arranging for another person to act—

     1. i

        as a director or secretary of a company,

     2. ii

        as a partner of a partnership, or

     3. iii

        in a similar capacity in relation to other legal persons;

  3. c

     providing a registered office, business address, correspondence or administrative address or other related services for a company, partnership or any other legal person or arrangement;

  4. d

     acting, or arranging for another person to act, as—

     1. i

        a trustee of an express trust or similar legal arrangement, or

     2. ii

        a nominee shareholder for a person.

3

For the purposes of regulation 40(1), information or another matter comes to a relevant firm “in the course of carrying on its business” if the information or other matter comes to the firm—

a

in the case of a relevant firm within paragraph (1)(a), in the course of carrying on an activity in respect of which permission under Part 4A of the Financial Services and Markets Act 2000 would be required if it had its registered office (or if it does not have one, its head office) in the United Kingdom, and

b

in the case of a relevant firm within any other provision of paragraph (1), in the course of carrying on an activity mentioned in that provision.