The Criminal Finances Act 2017 (Commencement No. 5) Regulations 2021

EXPLANATORY NOTE

(This note is not part of the Regulations)

These Regulations are the fifth set of commencement regulations made by the Secretary of State under the Criminal Finances Act 2017 (c. 22) which amend the Proceeds of Crime Act 2002 (c. 29).

These Regulations bring into force on 28th June 2021 various provisions in Northern Ireland, where the same or similar provision has already been commenced in England, Wales and Scotland. Regulation 2(2) also brings into force on 28th June 2021 in other parts of the United Kingdom certain provisions that apply to Northern Ireland but which have a wider extent.

Regulation 2 brings into force various provisions which amend the Proceeds of Crime Act 2002. These provisions introduce a new investigatory order (the unexplained wealth order) and a new procedure by which money in certain types of account can be frozen and forfeited (this includes a power to forfeit funds without court order, by giving a forfeiture notice). The provisions also allow the Serious Fraud Office greater access to powers in the Proceeds of Crime Act 2002. In addition, the provisions create new criminal offences concerning assault or obstruction in relation to the execution of search and seizure warrants, and when SFO and immigration officers are carrying out functions under the Proceeds of Crime Act 2002. The provisions also make technical amendments to the confiscation procedure and to the definition of cash, and introduce a new procedure to seize, detain and forfeit certain listed items of property which derives from, or is intended for use in, unlawful conduct. Additionally, the provisions introduce a new power for a senior officer to apply to the court for an order extending the period in which an entity is prohibited from carrying out a transaction which is the subject of an authorised disclosure made by that entity. The provisions expand the definition of “unlawful conduct” in Part 5 of the Proceeds of Crime Act 2002 to include gross human rights abuses or violations.

Regulations 3 and 4 bring into force related minor and technical amendments made to the Proceeds of Crime Act 2002 by Schedule 1 and Schedule 5 to the Criminal Finances Act 2017.

An impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sectors is foreseen.