Part 7

Money Laundering

Offences

Disclosures within an undertaking or group etc
333B
1
An employee, officer or partner of an undertaking does not commit an offence under section 333A if the disclosure is to an employee, officer or partner of the same undertaking.
2
A person does not commit an offence under section 333A in respect of a disclosure by a credit institution or a financial institution if—
a
the disclosure is to a credit institution or a financial institution,
b
the institution to whom the disclosure is made is situated in
the United Kingdom or an EEA state
or in a country or territory imposing equivalent money laundering requirements, and
c
both the institution making the disclosure and the institution to whom it is made belong to the same group.
3
In subsection (2) “group” has the same meaning as in Directive
2002/87/
EC
of the European Parliament and of the Council of 16
th
December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate.
4
A professional legal adviser or a relevant professional adviser does not commit an offence under section 333A if—
a
the disclosure is to professional legal adviser or a relevant professional adviser,
b
both the person making the disclosure and the person to whom it is made carry on business in
the United Kingdom or an EEA state
or in a country or territory imposing equivalent money laundering requirements, and
c
those persons perform their professional activities within different undertakings that share common ownership, management or control.
Words in s. 333B(4)(b) substituted (31.12.2020) by The Law Enforcement and Security (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/742), regs. 1, 107(6); 2020 c. 1, Sch. 5 para. 1(1)
Ss. 333A-333E inserted (26.12.2007) by Terrorism Act 2000 and Proceeds of Crime Act 2002 (Amendment) Regulations 2007 (S.I. 2007/3398), reg. 1(2), Sch. 2 para. 4
Pt. 7 applied (24.2.2003) by Proceeds of Crime Act 2002 (Crown Servants) Regulations 2003 (S.I. 2003/173), regs. 1, 3
Words in s. 333B(2)(b) substituted (31.12.2020) by The Law Enforcement and Security (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/742), regs. 1, 107(6); 2020 c. 1, Sch. 5 para. 1(1)