The Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020 No. 991

PART 2 U.K. Implementation of EU law

Requirement for registration U.K.

9.  In regulation 56 (requirement to be registered)(1)—

(a) in paragraph (5)—

(i) after sub-paragraph (a) omit “or”;

(ii) after sub-paragraph (b) insert—

“or

(c) that person is an art market participant or a letting agent.”;

(b) after paragraph (5) insert—

“(6) An art market participant or a letting agent—

(a) must apply for registration in the register before 10th June 2021;

(b) must not carry on that business or profession on or after 10th June 2021 unless—

(i) that person is included in the register, or

(ii) that person has applied for registration in the register, but the application has not yet been determined.”.

Commencement Information

I1 Reg. 9 in force at 6.10.2020, see reg. 1(2)

(1)

Paragraph (5) was amended by S.I. 2019/1511.