The Money Laundering Regulations 1993

Supervisors etc. to report evidence of money laundering

16.—(1) Subject to paragraph (2) below, where a supervisory authority—

(a) obtains any information; and

(b) is of the opinion that the information indicates that any person has or may have been engaged in money laundering,

the authority shall, as soon as is reasonably practicable, disclose that information to a constable.

(2) Where any person is a secondary recipient of information obtained by a supervisory authority, and that person forms such an opinion as is mentioned in paragraph (1)(b) above, that person may disclose the information to a constable.

(3) Where any person within paragraph (6) below—

(a) obtains any information whilst acting in the course of any investigation, or discharging any functions, to which his appointment or authorisation relates; and

(b) is of the opinion that the information indicates that any person has or may have been engaged in money laundering,

that person shall, as soon as is reasonably practicable, either disclose that information to a constable or disclose that information to the supervisory authority by whom he was appointed or authorised.

(4) Any disclosure made by virtue of the preceding provisions of this regulation shall not be treated as a breach of any restriction imposed by statute or otherwise.

(5) Any information—

(a) which has been disclosed to a constable by virtue of the preceding provisions of this regulation; and

(b) which would, apart from the provisions of paragraph (4) above, be subject to such a restriction as is mentioned in that paragraph;

may be disclosed by the constable, or any person obtaining the information directly or indirectly from him, in connection with the investigation of any criminal offence or for the purposes of any criminal proceedings, but not otherwise.

(6) Persons falling within this paragraph are—

(a) a person or inspector appointed under section 17 of the Industrial Assurance Act 1923(1) or section 65 or 66 of the Friendly Societies Act 1992(2);

(b) an inspector appointed under section 49 of the Industrial and Provident Societies Act 1965(3) or section 18 of the Credit Unions Act 1979(4);

(c) an inspector appointed under section 431, 432, 442 or 446 of the Companies Act 1985(5) or under Article 424, 425, 435 or 439 of the Companies (Northern Ireland) Order 1986(6);

(d) a person or inspector appointed under section 55 or 56 of the Building Societies Act 1986(7);

(e) an inspector appointed under section 94 or 177 of the Financial Services Act 1986(8);

(f) a person appointed under section 41 of the Banking Act 1987(9); and

(g) a person authorised to require the production of documents under section 44 of the Insurance Companies Act 1982(10), section 447 of the Companies Act 1985(11), section 106 of the Financial Services Act 1986(12), Article 440 of the Companies (Northern Ireland) Order 1986(13) or section 84 of the Companies Act 1989(14).

(7) In this regulation “secondary recipient”, in relation to information obtained by a supervisory authority, means any person to whom that information has been passed by the authority.

(1)

1923 c. 8 (13 & 14 Geo. 5); section 17 was amended by the Statute Law Revision Act 1950 (c. 6), by sections 5(5) and 14(2) of, and Schedule 3 to, the Friendly Societies Act 1971 (c. 66) and by section 100 of, and paragraphs 1, 5(2) and 6 of Schedule 19 to, the Friendly Societies Act 1992 (c. 40).

(2)

1992 c. 40.

(3)

1965 c. 12.

(4)

1979 c. 34.

(5)

1985 c. 6; section 432 was amended by section 55 of the Companies Act 1989 (c. 40); section 442 was amended by section 62 of the 1989 Act; there are amendments to section 446 in sections 182 and 212 of, and in paragraph 8 of Schedule 13, paragraph 21 of Schedule 16, Part I of Schedule 17 to, the Financial Services Act 1986 (c. 60), in section 212 of, and Schedule 24 to, the Companies Act 1989 (c. 40) and in regulation 82 of, and in paragraph 16 of Schedule 10 to, the Banking Coordination (Second Council Directive) Regulations 1992 (S.I. 1992/3218).

(6)

S.I. 1986/1032 (N.I. 6); Article 425 was amended by Article 3 of the Companies (No.2) (Northern Ireland) Order 1990 (S.I. 1990/1504 (N.I. 10)); Article 435 was amended by Article 10 of that Order; Article 439 was amended by Article 113 of, and Schedule 6 to, that Order.

(7)

1986 c. 53.

(8)

1986 c. 60; section 94 was amended by sections 72 and 212 of, and Schedule 24 to, the Companies Act 1989 (c. 40); section 177 was amended by section 74 of that Act.

(9)

1987 c. 22; section 41 was amended by regulation 37 of the Banking Coordination (Second Council Directive) Regulations 1992 (S.I. 1992/3218).

(10)

1982 c. 50; section 44 was amended by section 77(1) and (2) of the Companies Act 1989 (c. 40).

(11)

1985 c. 6; section 447 was amended by sections 63(1)–(7) and 212 of, and Schedule 24 to, the Companies Act 1989 (c. 40).

(12)

1986 c. 60; section 106 was amended by section 73 of the Companies Act 1989 (c. 40) and by regulation 55 of, and paragraph 29 of Schedule 9 to, the Banking Coordination (Second Council Directive) Regulations 1992.

(13)

S.I. 1986/1032 (N.I. 6); Article 440 was amended by Articles 11 and 113 of, and Schedule 6 to, the Companies (No. 2) (Northern Ireland) Order 1990 (S.I. 1990/1504 (N.I. 10)).

(14)

1989 c. 40.