PART 2

Anti-money laundering

Money laundering and terrorist financing etc
49
1
An appropriate Minister may by regulations make provision for one or more of the following purposes—
a
enabling or facilitating the detection or investigation of money laundering, or preventing money laundering;
b
enabling or facilitating the detection or investigation of terrorist financing, or preventing terrorist financing;
c
the implementation of Standards published by the Financial Action Task Force from time to time relating to combating threats to the integrity of the international financial system.
2
Schedule 2 makes further provision about regulations under this section.
3
In this Part—
- “money laundering” has the meaning given by section 340(11) of the Proceeds of Crime Act 2002;
- “terrorist financing” means an act which constitutes an offence under—
  1. section 15 (fund-raising), 16 (use and possession), 17 (funding arrangements), 18 (money laundering) or 63 (terrorist finance: jurisdiction) of the Terrorism Act 2000,
  2. paragraph 7(2) or (3) of Schedule 3 (freezing orders: offences) to the Anti-terrorism, Crime and Security Act 2001,
  3. any of regulations 8 to 13 of the ISIL (Da'esh) and Al-Qaida (United Nations Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/466),
  4. any of regulations 11 to 16 of the Counter-Terrorism (International Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/573), or
  5. any of regulations 11 to 16 of the Counter-Terrorism (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/577).
...
S. 49 in force at 31.12.2020 by S.I. 2020/1535, reg. 3(a)
Words in s. 49(3) inserted (31.12.2020 immediately after IP completion day) by S.I. 2019/466, reg. 58B(2) (as inserted by The Sanctions (EU Exit) (Consequential Provisions) (Amendment) Regulations 2020 (S.I. 2020/1289), regs. 1(2), 2(2); S.I. 2020/1514, reg. 21)
Words in s. 49(3) substituted (31.12.2020 immediately after IP completion day) by S.I. 2019/573, reg. 60B(2) (as inserted by The Sanctions (EU Exit) (Consequential Provisions) (Amendment) Regulations 2020 (S.I. 2020/1289), regs. 1(2), 3(2); S.I. 2020/1514, reg. 21)
Words in s. 49(3) inserted (31.12.2020 immediately after IP completion day) by S.I. 2019/577, reg. 34B(2) (as inserted by The Sanctions (EU Exit) (Consequential Provisions) (Amendment) Regulations 2020 (S.I. 2020/1289), regs. 1(2), 4(2); S.I. 2020/1514, reg. 21)
Words in s. 49(3) repealed (31.12.2020) by Sanctions and Anti-Money Laundering Act 2018 (c. 13), s. 64(2), Sch. 3 para. 9 (with ss. 52(3), 53, 58); S.I. 2020/1535, reg. 3(e)