PART 4Amendment of retained direct EU legislation

Amendment of Regulation 537/201499

In Article 25 (cooperation with other competent authorities at national level)—

a

in the first subparagraph—

i

for “Competent authorities designated pursuant to Article 20(1)” substitute “The competent authority”;

ii

for “any authority” substitute “any body”;

iii

for “such a” substitute “the”;

iv

omit “at national level”;

v

for point (a), substitute—

a

the body designated by the Secretary of State under section 1252 of the Companies Act 2006;

vi

for point (b), substitute—

b

the Financial Conduct Authority129;

vii

for point (c), substitute—

c

the body appointed to exercise the functions mentioned at section 14(2) of the Companies (Audit, Investigations and Community Enterprise) Act 2004;

d

the person authorised for the purposes of section 456 of the Companies Act 2006; or

e

the National Crime Agency and the supervisory authorities referred to in regulation 7 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.

b

in the second subparagraph—

i

for “obligation of professional secrecy” substitute “restrictions on disclosure”;

ii

for “Article 22 of this Regulation shall” substitute “section 1224A of the Companies Act 2006”.