Part III

Terrorist Property

Offences

Interpretation of sections 21D to 21G
21H
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
Directive 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
, as amended by Directive 2018/843 of the European Parliament and of the Council of 30th May 2018
.
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.
Ss. 21C-21H inserted (26.12.2007) by The Terrorism Act 2000 and Proceeds of Crime Act 2002 (Amendment) Regulations 2007 (S.I. 2007/3398), reg. 2, Sch. 1 para. 5
Words in s. 21H(4) substituted (26.6.2017) by The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (S.I. 2017/692), reg. 1(2), Sch. 7 para. 4(3) (with regs. 8, 15)
Words in s. 21H(4) inserted (10.1.2020) by The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 (S.I. 2019/1511), regs. 1(2), 14(2)