After Schedule 3 (relevant offences) insert -

"Schedule 3A Excluded Trusts

Regulation 42

Legislative Trusts

1. A trust imposed or required by an enactment.

Trusts imposed by court order

2. A trust created by, or in order to satisfy the terms of, an order of a court or tribunal.

Pension scheme trusts

3. A trust holding sums or assets of a pension scheme which is a registered pension scheme for the purposes of Part 4 of the Finance Act 2004 [2004 c. 12.].

Trusts of insurance policies

4. A trust of a life policy or retirement policy paying out only -

(a) on the death, terminal or critical illness or permanent disablement of the person assured; or

(b) to meet the cost of healthcare services provided to the person assured.

Charitable trusts

5. A trust for charitable purposes which -

(a) in Scotland or Northern Ireland, is registered as a charity; or

(b) in England and Wales, is registered as a charity or not required to register by virtue of section 30(2)(a) to (d) of the Charities Act 2011 [2011 c. 25. Section 30(2)(c) was amended by S.I. 2016/997.].

Pilot trusts