Information from relevant institutions
18.—(1) A relevant institution must as soon as practicable inform the Treasury if it knows or suspects that a relevant person—
(a)is a restricted person; or
(b)has committed an offence under article 8 or Part 3 of this Order.
(2) A relevant institution, where it informs the Treasury under paragraph (1), must state—
(a)the information or other matter on which the knowledge or suspicion is based;
(b)any information it holds about the relevant person by which the person can be identified; and
(c)the nature and amount or quantity of any funds or economic resources held by the relevant institution for the relevant person at any time up to five years prior to the relevant direction being given.
(3) A relevant institution that fails to comply with a requirement in paragraph (1) or (2) or article 15(3) is guilty of an offence.
(4) Anything done under this article is not to be treated as a breach of any restriction imposed by statute or otherwise.
(5) In this article, “relevant person” means—
(a)a person who is a customer of the institution;
(b)a person who was a customer of the institution at any time in the period of five years immediately preceding the relevant direction being given; or
(c)a person with whom the institution has had dealings in the course of its business during that period.