Economic Crime and Corporate Transparency Act 2023 [Parts 4 (cryptoassets — civil recovery), 5 (other measures incl. the failure-to-prevent-fraud offence)]

Terrorist financing: information orders

— Regulation 186 — Terrorist financing: information orders Section 22B of the Terrorism Act 2000 (further information orders) is amended in accordance with…

Cryptoassets: civil recovery

— Regulation 180 — Cryptoassets: civil recovery Schedule 9 amends the Proceeds of Crime Act 2002 to make provision for a civil recovery regime in relation to…

Other defined terms in sections 188 to 191

— Regulation 193 — Other defined terms in sections 188 to 191 In sections 188 to 191— “cryptoasset exchange provider” has the meaning given by paragraph 1…

Cryptoassets: terrorism

— Regulation 181 — Cryptoassets: terrorism Part 1 of Schedule 10 amends the Anti-terrorism, Crime and Security Act 2001 to make provision for a civil recovery…

Offences under section 199 committed by partnerships

— Regulation 203 — Offences under section 199 committed by partnerships Proceedings for an offence under section 199 alleged to have been committed by a…

Indirect disclosure of information: restrictions on civil liability

— Regulation 189 — Indirect disclosure of information: restrictions on civil liability The protections set out in subsection (2) apply in relation to a…

Section 199: large organisations

— Regulation 201 — Section 199: large organisations For the purposes of section 199 (1) and (2) a relevant body is a “large organisation” only if the body…

Money laundering: offences of failing to disclose

— Regulation 184 — Money laundering: offences of failing to disclose The Proceeds of Crime Act 2002 is amended as follows. In section 330 (failure to disclose…

Scottish Solicitors’ Discipline Tribunal: powers to fine in cases relating to economic crime

— Regulation 208 — Scottish Solicitors’ Discipline Tribunal: powers to fine in cases relating to economic crime Section 53 of the Solicitors (Scotland) Act…

Report on costs orders for proceedings for civil recovery

— Regulation 215 — Report on costs orders for proceedings for civil recovery The Secretary of State must assess whether it would be appropriate to restrict the…

Failure to prevent fraud: minor definitions

— Regulation 205 — Failure to prevent fraud: minor definitions This section applies for the purposes of sections 199 to 204. References to a person “associated…

Approved regulators: information powers relating to economic crime

— Regulation 210 — Approved regulators: information powers relating to economic crime The Legal Services Act 2007 is amended as follows. After section 111…

Reports on the implementation and operation of Parts 1 to 3

— Regulation 213 — Reports on the implementation and operation of Parts 1 to 3 The Secretary of State must— prepare reports on the implementation and operation…

Failure to prevent fraud: miscellaneous

— Regulation 206 — Failure to prevent fraud: miscellaneous In section 61(1) of the Serious Organised Crime and Police Act 2005 (offences to which certain…

Guidance about preventing fraud offences

— Regulation 204 — Guidance about preventing fraud offences The Secretary of State must issue guidance about procedures that relevant bodies can put in place…

Power to amend list of economic crimes

— Regulation 197 — Power to amend list of economic crimes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Money laundering: exiting and paying away exemptions

— Regulation 182 — Money laundering: exiting and paying away exemptions The Proceeds of Crime Act 2002 is amended as follows. In section 327 (concealing etc)…

Direct disclosures of information: restrictions on civil liability

— Regulation 188 — Direct disclosures of information: restrictions on civil liability The protections set out in subsection (2) apply in relation to a…

Money laundering: exemptions for mixed-property transactions

— Regulation 183 — Money laundering: exemptions for mixed-property transactions The Proceeds of Crime Act 2002 is amended as follows. In section 327…

Strategic litigation against public participation: requirement to make rules of court

— Regulation 194 — Strategic litigation against public participation: requirement to make rules of court The power to make Civil Procedure Rules must be…

Meaning of “privileged disclosure”

— Regulation 190 — Meaning of “privileged disclosure” For the purposes of sections 188 and 189, “privileged disclosure” means a disclosure of information made…

Meaning of “business relationship”

— Regulation 192 — Meaning of “business relationship” In sections 188 to 191, “business relationship” means a business, professional or commercial relationship…

Large organisations: parent undertakings

— Regulation 202 — Large organisations: parent undertakings For the purposes of section 199(1) and (2) a relevant body which is a parent undertaking is a…

Sanctions enforcement: monetary penalties

— Regulation 214 — Sanctions enforcement: monetary penalties In section 143 of the Policing and Crime Act 2017 (interpretation), in subsection (4) (meaning of…

Money laundering: information orders

— Regulation 185 — Money laundering: information orders Section 339ZH of the Proceeds of Crime Act 2002 (further information orders) is amended in accordance…

Meaning of “SLAPP” claim

— Regulation 195 — Meaning of “SLAPP” claim For the purposes of section 194 a claim is a “SLAPP claim” if— the claimant’s behaviour in relation to the matters…

Cryptoassets: confiscation orders

— Regulation 179 — Cryptoassets: confiscation orders Schedule 8 amends the Proceeds of Crime Act 2002 to make provision in connection with cryptoassets and…

Reports on payments to governments regulations: false statement offences etc

— Regulation 212 — Reports on payments to governments regulations: false statement offences etc For regulation 16 of the Reports on Payments to Governments…

Enhanced due diligence: designation of high-risk countries

— Regulation 187 — Enhanced due diligence: designation of high-risk countries The Sanctions and Anti-Money Laundering Act 2018 is amended as follows. In…

Meaning of “relevant actions”

— Regulation 191 — Meaning of “relevant actions” In sections 188 and 189, “relevant actions”, of a person, means the actions of— determining, for the purposes…

Serious Fraud Office: pre-investigation powers

— Regulation 211 — Serious Fraud Office: pre-investigation powers In section 2A of the Criminal Justice Act 1987 (Director’s pre-investigation powers in…

Regulators of legal services: objective relating to economic crime

— Regulation 209 — Regulators of legal services: objective relating to economic crime Section 1 of the Legal Services Act 2007 (regulatory objectives) is…

Law Society: powers to fine in cases relating to economic crime

— Regulation 207 — Law Society: powers to fine in cases relating to economic crime In section 44D of the Solicitors Act 1974 (disciplinary powers of Law…

Offences under section 196 committed by partnerships

— Regulation 198 — Offences under section 196 committed by partnerships . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Attributing criminal liability for economic crimes to certain bodies

— Regulation 196 — Attributing criminal liability for economic crimes to certain bodies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Failure to prevent fraud

— Regulation 199 — Failure to prevent fraud A relevant body which is a large organisation (see sections 201 and 202) is guilty of an offence if, in a financial…

Fraud offences: supplementary

— Regulation 200 — Fraud offences: supplementary The Secretary of State may by regulations amend Schedule 13 by— removing an offence from the list in the…

Money laundering: exiting and paying away exemptions

— Regulation 182 — Money laundering: exiting and paying away exemptions (5) insert— A person (“P”) who does an act mentioned in subsection (1) does not commit…

Fraud offences: supplementary

— Regulation 200 — Fraud offences: supplementary (1), where a fraud offence is found to have been committed over a period of 2 or more days, or at some time…

Sanctions enforcement: monetary penalties

— Regulation 214 — Sanctions enforcement: monetary penalties (9) to disapply Part 8 of that Act in respect of that breach or failure. Regulations authorising…

Indirect disclosure of information: restrictions on civil liability

— Regulation 189 — Indirect disclosure of information: restrictions on civil liability (10), the disclosure does not— give rise to a breach of any obligation…

Approved regulators: information powers relating to economic crime

— Regulation 210 — Approved regulators: information powers relating to economic crime (1)— may specify the manner and form in which the information is to be…

Terrorist financing: information orders

— Regulation 186 — Terrorist financing: information orders (6) insert— Condition 3 for the making of an information order is met if— the information would…

Reports on payments to governments regulations: false statement offences etc

— Regulation 212 — Reports on payments to governments regulations: false statement offences etc (2) as they apply for the purposes of provisions of the…

Law Society: powers to fine in cases relating to economic crime

— Regulation 207 — Law Society: powers to fine in cases relating to economic crime (1) where— the requirement or rule applies only for purposes relating to the…

Money laundering: exemptions for mixed-property transactions

— Regulation 183 — Money laundering: exemptions for mixed-property transactions (7) (inserted by section 182) insert— A person (“P”) who does an act mentioned…

Money laundering: information orders

— Regulation 185 — Money laundering: information orders (6) insert— Condition 3 for the making of an information order is met if— the information would assist…

Other defined terms in sections 188 to 191

— Regulation 193 — Other defined terms in sections 188 to 191 (1) of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer)…

Scottish Solicitors’ Discipline Tribunal: powers to fine in cases relating to economic crime

— Regulation 208 — Scottish Solicitors’ Discipline Tribunal: powers to fine in cases relating to economic crime (1)(d) and the incorporated practice has — in…

Failure to prevent fraud

— Regulation 199 — Failure to prevent fraud (4) “prevention procedures” means procedures designed to prevent persons associated with the body from committing…

Meaning of “SLAPP” claim

— Regulation 195 — Meaning of “SLAPP” claim (1)(b) “has to do with economic crime” if— it relates to behaviour or circumstances which the defendant reasonably…

Strategic litigation against public participation: requirement to make rules of court

— Regulation 194 — Strategic litigation against public participation: requirement to make rules of court (4) to apply in relation to any rules of court that…

Section 199: large organisations

— Regulation 201 — Section 199: large organisations (7) and (9)) and section 202 for the purpose of altering the meaning of “large organisation” in section 199…

Direct disclosures of information: restrictions on civil liability

— Regulation 188 — Direct disclosures of information: restrictions on civil liability (11), the disclosure does not— give rise to a breach of any obligation of…

Money laundering: information orders

— Regulation 185 — Money laundering: information orders suspected money laundering, or strategic analysis identifying trends or patterns in the conduct of…

Money laundering: exiting and paying away exemptions

— Regulation 182 — Money laundering: exiting and paying away exemptions (1) does not commit an offence under that subsection if— P is carrying on business in…

Failure to prevent fraud

— Regulation 199 — Failure to prevent fraud (10) proceedings against a relevant body for an offence are to be taken in Scotland— the body may be prosecuted…

Terrorist financing: information orders

— Regulation 186 — Terrorist financing: information orders suspected terrorist financing, or strategic analysis identifying trends or patterns in the conduct…

Money laundering: exemptions for mixed-property transactions

— Regulation 183 — Money laundering: exemptions for mixed-property transactions (1) does not commit an offence under that subsection if— P is carrying on…

Approved regulators: information powers relating to economic crime

— Regulation 210 — Approved regulators: information powers relating to economic crime (4) applies in relation to an order under subsection (2) as it applies in…

Other defined terms in sections 188 to 191

— Regulation 193 — Other defined terms in sections 188 to 191 as defined in regulation 2 of the Payment Services Regulations 2017 (S.I. 2017/752)); “personal…

Meaning of “SLAPP” claim

— Regulation 195 — Meaning of “SLAPP” claim (4)(c) a failure, or anticipated failure, is “relevant” so far as it relates to— the choice of jurisdiction, the…

Indirect disclosure of information: restrictions on civil liability

— Regulation 189 — Indirect disclosure of information: restrictions on civil liability (10), the disclosure does not— give rise to a breach of any obligation…

Direct disclosures of information: restrictions on civil liability

— Regulation 188 — Direct disclosures of information: restrictions on civil liability (9) apply in relation to a disclosure made by a person (“R”) who is…

Reports on payments to governments regulations: false statement offences etc

— Regulation 212 — Reports on payments to governments regulations: false statement offences etc (2) as they apply for the purposes of provisions of the…

Terrorist financing: information orders

— Regulation 186 — Terrorist financing: information orders (5) of the Crime and Courts Act 2013; “foreign FIU” means a body in a foreign country carrying out…

Indirect disclosure of information: restrictions on civil liability

— Regulation 189 — Indirect disclosure of information: restrictions on civil liability (4) applies, does not— give rise to a breach of any obligation of…

Money laundering: information orders

— Regulation 185 — Money laundering: information orders (5) of the Crime and Courts Act 2013; “foreign FIU” means a body in a foreign country carrying out the…

Money laundering: exiting and paying away exemptions

— Regulation 182 — Money laundering: exiting and paying away exemptions (6) insert— The threshold amount for acts done by a person carrying on business in the…

Approved regulators: information powers relating to economic crime

— Regulation 210 — Approved regulators: information powers relating to economic crime (1). An order under this section may direct the Law Society to pay such…

Terrorist financing: information orders

— Regulation 186 — Terrorist financing: information orders (2) may be satisfied by the carrying out of the action required by the paragraph in question before…

Money laundering: information orders

— Regulation 185 — Money laundering: information orders (2) may be satisfied by the carrying out of the action required by the paragraph in question before…

Approved regulators: information powers relating to economic crime

— Regulation 210 — Approved regulators: information powers relating to economic crime (1). A recommendation may only be made with the consent of the approved…

Money laundering: information orders

— Regulation 185 — Money laundering: information orders (5) unless a draft of the regulations has been laid before Parliament and approved by a resolution of…

Terrorist financing: information orders

— Regulation 186 — Terrorist financing: information orders (1) for “a further” substitute “an”; in section 22D (appeals), in subsections (1) and (4)(a) for “a…