SCHEDULES
SCHEDULE 12Forfeiture of money: electronic money institutions and payment institutions
Proceeds of Crime Act 2002 (c. 29)
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1
Section 303Z1 (application for account freezing order) is amended as follows.
2
In subsection (1), for “bank or building society” substitute “
relevant financial institution
”
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F13
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F24
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5
In subsection (6), at the appropriate places insert—
“electronic money institution” has the same meaning as in the Electronic Money Regulations 2011 (S.I. 2011/99) (see regulation 2 of those Regulations);
“payment institution” means an authorised payment institution or a small payment institution (each as defined in regulation 2 of the Payment Services Regulations 2017 (S.I. 2017/752));