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

Applications for registration in a register maintained under regulation 54 or 55

57.—(1) A person applying for registration in a register maintained under regulation 54 or 55 (“an applicant”) must make an application in such manner and provide such information as the registering authority may specify.

(2) The information which the registering authority may specify includes, among other things—

(a) the applicant’s full name and where different the name of the business;

(b) where the applicant is an individual, the applicant’s date of birth and residential address;

(c) the nature of the business;

(d) the address of the head office of the business with its company number (in the case of a company), and of any branches the business has in the United Kingdom;

(e) the full name of the nominated officer (if any);

(f) a risk assessment which satisfies the requirements in regulation 18;

(g) information as to the way in which the business meets the requirements set out in—

(i) these Regulations;

(ii) Part 3 of the Terrorism Act 2000 (terrorist property)(1);

(iii) Part 7 of the Proceeds of Crime Act 2002 (money laundering)(2); and

(iv) Part 8 of the Proceeds of Crime Act 2002 (investigations);

(h) in relation to a money service business or a trust or company service provider—

(i) the full name, date of birth and residential address of any officer, manager or beneficial owner of the business or service provider; and

(ii) information needed by the registering authority to decide whether it must refuse the application pursuant to regulation 58;

(i) in relation to a money service business, the full name and address of any agent it uses for the purposes of its business;

(j) where the registering authority is not the supervisory authority for the applicant—

(i) the name of the applicant’s supervisory authority;

(ii) confirmation from the applicant’s supervisory authority that any person mentioned in regulation 58(1) is a fit and proper person within the meaning of that regulation;

(k) whether the applicant, or any person named in the application, has been convicted of a criminal offence listed in Schedule 3.

(3) At any time after receiving an application and before determining it, the registering authority may require the applicant to provide, within 21 days beginning with the date on which the requirement is issued, such further information as the registering authority reasonably considers necessary to enable it to determine the application.

(4) If at any time after the applicant has provided the registering authority with any information under paragraph (1) or (3) (whether before or after the applicant is registered)—

(a) there is a material change affecting any matter contained in that information; or

(b) it becomes apparent to the applicant that the information contains an inaccuracy,

the applicant must provide the registering authority with details of the change or a correction of the inaccuracy within 30 days beginning with the date of the occurrence of the change (or the discovery of the inaccuracy) or within such later time as may be agreed with the registering authority.

(5) The obligation in paragraph (4) applies also to material changes or inaccuracies affecting any matter contained in any supplementary information provided pursuant to that paragraph.

(6) Any information to be provided to the registering authority under this regulation must be in such form and verified in such manner as the authority may specify.

(1)

2000 c.11.

(2)

2002 c. 29.