Part III Terrorist Property
Offences
21HF1Interpretation of sections 21D to 21G
1
The references in sections 21D to 21G—
a
to a business in the regulated sector, and
b
to a supervisory authority,
are to be construed in accordance with Schedule 3A.
2
In those sections—
“ credit institution ” has the same meaning as in Schedule 3A;
“ financial institution ” means an undertaking that carries on a business in the regulated sector by virtue of any of paragraphs (b) to (i) of paragraph 1(1) of that Schedule.
3
References in those sections to a disclosure by or to a credit institution or a financial institution include disclosure by or to an employee, officer or partner of the institution acting on its behalf.
4
For the purposes of those sections a country or territory imposes “equivalent money laundering requirements” if it imposes requirements equivalent to those laid down in F2Directive 2015/849/EU of the European Parliament and of the Council of 20th May 2015 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing.
5
In those sections “ relevant professional adviser ” means an accountant, auditor or tax adviser who is a member of a professional body which is established for accountants, auditors or tax advisers (as the case may be) and which makes provision for—
a
testing the competence of those seeking admission to membership of such a body as a condition for such admission; and
b
imposing and maintaining professional and ethical standards for its members, as well as imposing sanctions for non-compliance with those standards.