Paragraph 41 Proceeds of Crime Act 2002

(1)

Schedule 9 to the Proceeds of Crime Act 2002 M1 (regulated sector and supervisory authorities) is amended as follows.

(2)

In paragraph 1(1)(b) M2 (business in the regulated sector) for “Banking Consolidation Directive” substitute “ Capital Requirements Regulation ” in both places where it appears.

(3)

In paragraph 1(2)(a) for “Article 4(1) of the Banking Consolidation Directive” substitute “ Article 4(1)(1) of the Capital Requirements Regulation ”.

(4)

In paragraph 1(2)(b) for “Article 4(3) of that Directive” substitute “ Article 4(1)(17) of that Regulation ”.

(5)

In paragraph 3(1) M3 (interpretation)—

(a)

omit the definition of “the Banking Consolidation Directive”; and

(b)

at the appropriate place insert—

““the Capital Requirements Regulation” means Regulation (EU) No. 575/2013 of the European Parliament and of the Council”.

Annotations

Marginal citations

M1: Proceeds of Crime Act 2002 c. 29. Part 1 of Schedule 9 was substituted by S.I. 2007/3287.
M2: Paragraph 1(1)(b) was amended by S.I. 2011/99.
M3: Paragraph 3(1) was amended by S.I. 2011/99.

Notes on the whole SI

Textual amendments

F1: 2000 c. 8. Section 349(2) was amended by section 41 of, and paragraphs 19(1) and (2) of Schedule 12 to, the Financial Services Act 2012 (c. 21); paragraphs 14(1)(b), 17(c), 18 and 22 of Schedule 3 were amended by section 12 of, and paragraphs 1, 3, 7, 8 and 14 of Schedule 4 to, the Financial Services Act 2012; paragraph 14(1)(b) was also amended by S.I. 2003/1473 and S.I. 2003/2066.