(This note is not part of the Order)
Section 40(1) (Prohibition on opening current account for disqualified persons) of the Immigration Act 2014 (c. 22) (the “Act”) prohibits banks and building societies from opening current accounts for “disqualified persons”. A person is “disqualified” for the purposes of section 40, per subsections 40(2) and 40(3)(b), (a) if he or she is in the UK, (b) if he or she requires leave to enter or remain in the UK but does not have such leave, and (c) if he or she is a person for whom the Secretary of State considers that a current account should not be opened by a bank or building society.
The prohibition at section 40(1) of the Act includes opening an account in relation to which a disqualified person is a signatory or is identified as a beneficiary, as well as adding a disqualified person as an account holder or as a signatory or identified beneficiary in relation to an account.
This Order provides that the prohibition in section 40(1) will not apply in the case of an account to be operated (or an account that is operated) by or for a person or body who is not a charity, a consumer or a micro-enterprise.
A full impact assessment of the effect that this Order will have on the costs of business and the voluntary sector is available from Her Majesty’s Treasury, 1 Horse Guards Road, London SW1A 2HQ or on www.gov.uk and is published alongside the Order on www.legislation.gov.uk.