183 Money laundering: exemptions for mixed-property transactions
Economic Crime and Corporate Transparency Act 2023 (2023 c 56) | Legislation

183  Money laundering: exemptions for mixed-property transactions

(1)     The Proceeds of Crime Act 2002 is amended as follows.

(2)     In section 327 (concealing etc), after subsection (2E) (inserted by section 182) insert—

“(2F)     A person (“P”) who does an act mentioned in paragraph (c), (d) or (e) of subsection (1) does not commit an offence under that subsection if—

(a)     P is carrying on business in the regulated sector,

(b)     P does the act in the course of that business, on behalf of a customer or client, in operating an account or accounts maintained with P or in connection with holding any property for the customer or client,

(c)     at the time of the act, P knows or suspects that part but not all of the funds in the account or accounts, or of the property so held, is criminal property (“the relevant criminal property”),

(d)     it is not possible, at the time the act takes place, to identify the part of the funds or property that is the relevant criminal property, and

(e)     the value of the funds in the account or accounts, or of the property so held, is

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Transferred malice

Transferred maliceThe principle of transferred maliceIf a person has a malicious intent towards X and, in carrying out that intent, injures Y, he is guilty of an offence. So, if D shoots at A with intent to kill him but kills B by mistake it is murder; the mistake as to the identity of the victim is

LEXISNEXIS

The supremacy of EU law

The supremacy of EU lawIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an

LEXISNEXIS

Wounding or causing grievous bodily harm with intent

Wounding or causing grievous bodily harm with intentThe offence of causing grievous bodily harm with intentWounding or causing grievous bodily harm (GBH) with intent is triable only in the Crown Court on indictment. Elements of the offence Under the Offences against the Person Act 1861 (OATPA 1861),

LEXISNEXIS

No deal Brexit—jurisdiction (UK and the Lugano Convention) [Archived]

No deal Brexit—jurisdiction (UK and the Lugano Convention) [Archived]ARCHIVED: This Practice Note has been archived and is not maintained.This Practice Note has been produced in partnership with Guy Pendell, Liz Williams and Kushal Gandhi of CMS.This Practice Note covers the situation where the UK