Sanctions and Anti-Money Laundering Act 2018 · PART 2 Anti-money laundering

49 Money laundering and terrorist financing etc

s. 49 · in force: yes

Captured statutory text (L5)

49 Money laundering and terrorist financing etc

(1)An appropriate Minister may by regulations make provision for one or more of the following purposes—

(a)enabling or facilitating the detection or investigation of money laundering, or preventing money laundering;

(b)enabling or facilitating the detection or investigation of terrorist financing, or preventing terrorist financing;

(c)the implementation of Standards published by the Financial Action Task Force from time to time relating to combating threats to the integrity of the international financial system.

(2)Schedule 2 makes further provision about regulations under this section.

(3)In this Part— “money laundering” has the meaning given by section 340(11) of the Proceeds of Crime Act 2002; “terrorist financing” means an act which constitutes an offence under— section 15 (fund-raising), 16 (use and possession), 17 (funding arrangements), 18 (money laundering) or 63 (terrorist finance: jurisdiction) of the Terrorism Act 2000, paragraph 7(2) or (3) of Schedule 3 (freezing orders: offences) to the Anti-terrorism, Crime and Security Act 2001, any of regulations 8 to 13 of the ISIL (Da'esh) and Al-Qaida (United Nations Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/466), any of regulations 11 to 16 of the Counter-Terrorism (International Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/573), or any of regulations 11 to 16 of the Counter-Terrorism (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/577). ...

Full captured verbatim text

(1) An appropriate Minister may by regulations make provision for one or more of the following purposes—

(a) enabling or facilitating the detection or investigation of money laundering, or preventing money laundering;

(b) enabling or facilitating the detection or investigation of terrorist financing, or preventing terrorist financing;

(c) the implementation of Standards published by the Financial Action Task Force from time to time relating to combating threats to the integrity of the international financial system.

(2) Schedule 2 makes further provision about regulations under this section.

(3) In this Part—

“money laundering” has the meaning given by section 340(11) of the Proceeds of Crime Act 2002;

“terrorist financing” means an act which constitutes an offence under—

section 15 (fund-raising), 16 (use and possession), 17 (funding arrangements), 18 (money laundering) or 63 (terrorist finance: jurisdiction) of the Terrorism Act 2000,

paragraph 7(2) or (3) of Schedule 3 (freezing orders: offences) to the Anti-terrorism, Crime and Security Act 2001,

any of regulations 8 to 13 of the ISIL (Da'esh) and Al-Qaida (United Nations Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/466),

any of regulations 11 to 16 of the Counter-Terrorism (International Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/573), or

any of regulations 11 to 16 of the Counter-Terrorism (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/577).

...

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

An appropriate Minister may make regulations enabling AML/CFT detection, prevention, or implementation of FATF Standards.

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

Refers to

other law external_cite · s. 15

other law external_cite · s. 16

other law external_cite · s. 17

other law external_cite · s. 18

other law external_cite · s. 63

other law external_cite · s. 340

schedule ref schedule_ref · Sch. 2 para. 1

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Referred to by

cross-reference internal_cite · Sch. 2 para. 1

cross-reference internal_cite · Sch. 2 para. 15

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cross-reference internal_cite · Sch. 2 para. 24

cross-reference internal_cite · Sch. 3 para. 6

cross-reference internal_cite · s. 52

cross-reference internal_cite · s. 54

cross-reference internal_cite · s. 55

Part summaries

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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: PART 2 Anti-money laundering
Version: bdd84c1dd9179d72500101d1…
Content hash: sha256 d4d56abb7b4ccda39ffec6af…
Source: legislation.gov.uk/ukpga/2018/13