Sanctions and Anti-Money Laundering Act 2018 · SCHEDULE 2

24

Sch. 2 para. 24 · in force: yes

Captured statutory text (L5)

24

In this Schedule—

“enforcement partners” means bodies with which supervisory authorities enter into arrangements for the purposes of the enforcement of regulations under section 49; “money laundering” has the meaning given by section 49; “Money Laundering Regulations 2017” means the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (S.I. 2017/692); “oversight body” means a body on which functions are conferred under paragraph 8(1); “relevant business” means business of a kind which entails risks relating to money laundering, terrorist financing or other threats to the integrity of the financial system; “relevant person” means a person on whom requirements are imposed under paragraph 3; “requirements” includes prohibitions; “supervisory authority” means the Financial Conduct Authority, the Commissioners for Her Majesty's Revenue and Customs or any other body on which functions are conferred under paragraph 7(1); “terrorist financing” has the meaning given by section 49.

Full captured verbatim text

In this Schedule—

“enforcement partners” means bodies with which supervisory authorities enter into arrangements for the purposes of the enforcement of regulations under section 49;

“money laundering” has the meaning given by section 49;

“Money Laundering Regulations 2017” means the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (S.I. 2017/692);

“oversight body” means a body on which functions are conferred under paragraph 8(1);

“relevant business” means business of a kind which entails risks relating to money laundering, terrorist financing or other threats to the integrity of the financial system;

“relevant person” means a person on whom requirements are imposed under paragraph 3;

“requirements” includes prohibitions;

“supervisory authority” means the Financial Conduct Authority, the Commissioners for Her Majesty's Revenue and Customs or any other body on which functions are conferred under paragraph 7(1);

“terrorist financing” has the meaning given by section 49.

What this provision means

Model summary, checked against the text on the left.

Relevance to Signicat: 2/3 · detailed summary (L4) Status: not needed for a short provision · Stored artifact; current recipe verification unavailable

Definitions are established for the Schedule, including relevant business, relevant person, supervisory authority, and oversight body.

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

Refers to

cross-reference internal_cite · s. 49

Referred to by

schedule ref schedule_ref · s. 49

schedule ref schedule_ref · s. 55

schedule ref schedule_ref · s. 57

Part summaries

0 of 0 parts have a verified summary.

L1 unavailable for current verification: the overall summary needs every part verified. Provisions and the verified summaries remain readable.

Verification findings (153)

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Instrument tier unavailable

Change history as published

S. 2 omitted (15.3.2022) by virtue of Economic Crime (Transparency and Enforcement) Act 2022 (c. 10), ss. 57(3), 69(3)

S. 18 omitted (15.3.2022) by virtue of Economic Crime (Transparency and Enforcement) Act 2022 (c. 10), ss. 63(1)(a), 69(3)

S. 24 omitted (15.3.2022) by virtue of Economic Crime (Transparency and Enforcement) Act 2022 (c. 10), ss. 62(1)(a), 69(3)

S. 28 omitted (15.3.2022) by virtue of Economic Crime (Transparency and Enforcement) Act 2022 (c. 10), ss. 62(1)(b), 69(3)

S. 30 omitted (15.3.2022) by virtue of Economic Crime (Transparency and Enforcement) Act 2022 (c. 10), ss. 62(1)(c), 69(3)

S. 32 omitted (15.3.2022) by virtue of Economic Crime (Transparency and Enforcement) Act 2022 (c. 10), ss. 63(1)(b), 69(3)

S. 46 omitted (15.3.2022) by virtue of Economic Crime (Transparency and Enforcement) Act 2022 (c. 10), ss. 63(1)(c), 69(3)

S. 58 omitted (1.1.2024) by virtue of The Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendment) Regulations 2023 (S.I. 2023/1424), reg. 1(2), Sch. para. 88(3)

Pending effects amendments not yet applied to this text

s. 49 modified by Financial Services and Markets Act 2023 s. 77(1)(2) · Effective date unknown · s. 49

Provenance

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

Instrument: uk:ukpga/2018/13
Part: SCHEDULE 2
Version: bdd84c1dd9179d72500101d1…
Content hash: sha256 fcfa8e7bf94b6cdd2053f732…
Source: legislation.gov.uk/ukpga/2018/13