(1) The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 are amended as follows.

(2) In regulation 42 -

(a) for paragraph (4) substitute -

"(4) For the purposes of this Part, an "EEA registered trust" is a trust established in a country or territory other than the United Kingdom where national legislation applies having a broadly equivalent effect to the requirements laid down in the fourth money laundering directive.";

(b) for paragraph (6)(b) substitute -

"(b) "third country entity" means a body corporate, partnership or other entity that -

(i) is governed by the law of a country or territory other than the United Kingdom and (in each case) is a legal person under that law, and

(ii) is not subject to national legislation having a broadly equivalent effect to the requirements laid down in Article 30 of the fourth money laundering directive.".