Part 2

Investigations, prosecutions, proceedings and proceeds of crime
Chapter 6

Proceeds of crime

Money laundering: miscellaneous amendments
106
1
In the Proceeds of Crime Act 2002, Part 7 (money laundering) is amended as follows.
2
In section 330 (regulated sector: failure to disclose), after subsection (9) insert—
9A
But a disclosure which satisfies paragraphs (a) and (b) of subsection (9) is not to be taken as a disclosure to a nominated officer if the person making the disclosure—
a
is a professional legal adviser,
b
makes it for the purpose of obtaining advice about making a disclosure under this section, and
c
does not intend it to be a disclosure under this section.
3
In section 337(5)(a)
(disclosure to person nominated to receive disclosures under section 337), after “disclosures under” insert “ section 330 or ”.
4
In section 338(1)(c)
(first or second condition must be satisfied for disclosure to be authorised), for “or second” substitute “ , second or third ”.
5
In section 338 (authorised disclosures), after subsection (2) insert—
2A
The second condition is that—
a
the disclosure is made while the alleged offender is doing the prohibited act,
b
he began to do the act at a time when, because he did not then know or suspect that the property constituted or represented a person's benefit from criminal conduct, the act was not a prohibited act, and
c
the disclosure is made on his own initiative and as soon as is practicable after he first knows or suspects that the property constitutes or represents a person's benefit from criminal conduct.
6
In section 338(3)
(the second condition), for “second” substitute “ third ”.
S. 106 in force at 1.7.2005 by S.I. 2005/1521, art. 3(1)(c)