Money Laundering Regulations 2007 [SI 2007 No. 2157]

Version status: Revoked | Document consolidation status: Updated to reflect all known changes

Published date: 24 July 2007

Money Laundering Regulations 2007 [SI 2007 No. 2157]

	Introductory Text
	Part 1 General (regs. 1-4)
	Regulation 1 Citation, commencement etc.
	Regulation 2 Interpretation
	Regulation 3 Application of the Regulations
	Regulation 4 Exclusions
	Part 2 Customer Due Diligence (regs. 5-18)
	Regulation 5 Meaning of customer due diligence measures
	Regulation 6 Meaning of beneficial owner
	Regulation 7 Application of customer due diligence measures
	Regulation 8 Ongoing monitoring
	Regulation 9 Timing of verification
	Regulation 10 Casinos
	Regulation 11 Requirement to cease transactions etc.
	Regulation 12 Exception for trustees of debt issues
	Regulation 13 Simplified due diligence
	Regulation 14 Enhanced customer due diligence and ongoing monitoring
	Regulation 15 Branches and subsidiaries
	Regulation 16 Shell banks, anonymous accounts etc.
	Regulation 17 Reliance
	Regulation 18 Directions where Financial Action Task Force applies counter-measures
	Part 3 Record-Keeping, Procedures and Training (regs. 19-21)
	Regulation 19 Record-keeping
	Regulation 20 Policies and procedures
	Regulation 21 Training
	Part 4 Supervision and Registration (regs. 22-35)
	Interpretation (reg. 22)
	Regulation 22 Interpretation
	Supervision (regs. 23-24A)
	Regulation 23 Supervisory authorities
	Regulation 24 Duties of supervisory authorities
	Regulation 24A Disclosure by supervisory authorities
	Registration of high value dealers, money service businesses and trust or company service providers (regs. 25-30)
	Regulation 25 Duty to maintain registers
	Regulation 26 Requirement to be registered
	Regulation 27 Applications for registration in a register maintained under regulation 25
	Regulation 28 Fit and proper test
	Regulation 29 Determination of applications under regulation 27
	Regulation 30 Cancellation of registration in a register maintained under regulation 25
	Requirement to inform the Authority (reg. 31)
	Regulation 31 Requirement on authorised person to inform the Authority
	Registration of Annex I financial institutions, estate agents etc. (regs. 32-34)
	Regulation 32 Power to maintain registers
	Regulation 33 Requirement to be registered
	Regulation 34 Applications for and cancellation of registration in a register maintained under regulation 32
	Financial provisions (reg. 35)
	Regulation 35 Costs of supervision
	Part 5 Enforcement (regs. 36-47)
	Powers of designated authorities (regs. 36-41)
	Regulation 36 Interpretation
	Regulation 37 Power to require information from, and attendance of, relevant and connected persons
	Regulation 38 Entry, inspection without a warrant etc.
	Regulation 39 Entry to premises under warrant
	Regulation 40 Failure to comply with information requirement
	Regulation 41 Powers of relevant officers
	Civil penalties, review and appeals (regs. 42-44)
	Regulation 42 Power to impose civil penalties
	Regulation 43 Appeals against decisions of the Commissioners
	Regulation 43A Offer of review
	Regulation 43B Review by the Commissioners
	Regulation 43C Extensions of time
	Regulation 43D Review out of time
	Regulation 43E Nature of review etc
	Regulation 43F Bringing of appeals against decisions of the Commissioners
	Regulation 44 Appeals
	Criminal offences (regs. 45-47)
	Regulation 45 Offences
	Regulation 46 Prosecution of offences
	Regulation 47 Offences by bodies corporate etc.
	Part 6 Miscellaneous (regs. 48-51)
	Regulation 48 Recovery of charges and penalties through the court
	Regulation 49 Obligations on public authorities
	Regulation 49A Disclosure by the Commissioners
	Regulation 50 Transitional provisions: requirement to be registered
	Regulation 51 Minor and consequential amendments
	Schedule 1 Activities Listed in Points 2 to 12, 14 and 15 of Annex I to the Banking Consolidation Directive
	Schedule 2 Financial Activity, Simplified Due Diligence and Politically Exposed Persons
	Schedule 3 Professional Bodies
	Schedule 3, Part 1 [Substituted with new Sch. 3]
	Schedule 3, Part 2 [Substituted with new Sch. 3]
	Schedule 4 Connected Persons
	Schedule 5 Modifications In Relation To Appeals
	Schedule 5, Part 2 Secondary legislation (para. 3)
	Schedule 5, Part 1 Primary legislation (paras. 1-2)
	Schedule 6 Minor And Consequential Amendments
	Schedule 6, Part 1 Primary legislation (paras. 1-3)
	Schedule 6, Part 2 Secondary legislation (paras. 4-15)
	Signature
	Explanatory Note
	Explanatory Memorandum