Criminal Finances Act 2017 · CHAPTER 5 Miscellaneous

30 Money received by administrators

s. 30 · in force: yes

Captured statutory text (L5)

30 Money received by administrators

(1)Paragraph 6 of Schedule 3 to the Proceeds of Crime Act 2002 (money received by administrator) is amended as follows.

(2)In sub-paragraph (1) for “an appropriate bank or institution” substitute “ a bank or building society ”.

(3)For sub-paragraph (3) substitute—

(3)In sub-paragraph (1)—

(a)“bank” means an authorised deposit-taker, other than a building society, that has its head office or a branch in the United Kingdom;

(b)“building society” has the same meaning as in the Building Societies Act 1986.

(4)In sub-paragraph (3)(a) “authorised deposit-taker” means—

(a)a person who has permission under Part 4A of the Financial Services and Markets Act 2000 to accept deposits;

(b)a person who—

(i)is specified, or is within a class of persons specified, by an order under section 38 of that Act (exemption orders), and

(ii)accepts deposits;

(c)an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to that Act that has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12(1) of that Schedule) to accept deposits.

(5)A reference in sub-paragraph (4) to a person or firm with permission to accept deposits does not include a person or firm with permission to do so only for the purposes of, or in the course of, an activity other than accepting deposits.

Full captured verbatim text

(1) Paragraph 6 of Schedule 3 to the Proceeds of Crime Act 2002 (money received by administrator) is amended as follows.

(2) In sub-paragraph (1) for “an appropriate bank or institution” substitute “ a bank or building society ”.

(3) For sub-paragraph (3) substitute—

(3) In sub-paragraph (1)—

(a) “bank” means an authorised deposit-taker, other than a building society, that has its head office or a branch in the United Kingdom;

(b) “building society” has the same meaning as in the Building Societies Act 1986.

(4) In sub-paragraph (3)(a) “authorised deposit-taker” means—

(a) a person who has permission under Part 4A of the Financial Services and Markets Act 2000 to accept deposits;

(b) a person who—

(i) is specified, or is within a class of persons specified, by an order under section 38 of that Act (exemption orders), and

(ii) accepts deposits;

(c) an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to that Act that has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12(1) of that Schedule) to accept deposits.

(5) A reference in sub-paragraph (4) to a person or firm with permission to accept deposits does not include a person or firm with permission to do so only for the purposes of, or in the course of, an activity other than accepting deposits.

What this provision means

Model summary, checked against the text on the left.

Relevance to Signicat: 1/3 · detailed summary (L4) Status: not needed for a short provision · Stored artifact; current recipe verification unavailable

Restricts institutions where administrators in Scotland may deposit received money to authorized banks and building societies.

Only the one-line summary above is stored for this provision; the text itself is the evidence.

Refers to

other law external_cite · Sch. 3 para. 1

other law external_cite · Sch. 3 para. 10

other law external_cite · Sch. 3 para. 2

other law external_cite · Sch. 3 para. 3

other law external_cite · Sch. 3 para. 4

other law external_cite · Sch. 3 para. 5

other law external_cite · Sch. 3 para. 6

other law external_cite · Sch. 3 para. 7

other law external_cite · Sch. 3 para. 8

other law external_cite · Sch. 3 para. 9

Referred to by

cross-reference internal_cite · Sch. 5 para. 11

cross-reference internal_cite · s. 49

cross-reference internal_cite · s. 57

cross-reference internal_cite · s. 58

Part summaries

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Pending effects amendments not yet applied to this text

s. 32(5)(6) omitted by Crime and Policing Act 2026 Sch. 22 para. 37 · Effective date unknown · s. 32

Provenance

Every claim the system makes about this text is traceable to these identifiers.

Instrument: uk:ukpga/2017/22
Part: CHAPTER 5 Miscellaneous
Version: 97c26a7a4cb9817265ca5134…
Content hash: sha256 4e89c626734f0d725ad7e588…
Source: legislation.gov.uk/ukpga/2017/22