Regulation 11D Money service businessesF1

(1)

The relevant data for a data-holder of the type described in paragraph 13D of Schedule 23 are—

(a)

records required to be kept by the data-holder under regulation 40 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017;

(b)

the quantity and value of transactions carried out by the data-holder for a customer during any period;

(c)

identifying information relating to a customer; and

(d)

where, in a transaction carried out by the data-holder for a customer, there is a beneficial owner who is not the customer, identifying information relating to the beneficial owner.

(2)

In this regulation “beneficial owner” has the meaning given by regulations 5 and 6 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.

Annotations

Textual amendments

F1: Reg. 11D inserted (21.12.2017) by The Data-gathering Powers (Relevant Data) (Amendment) Regulations 2017 (S.I. 2017/1175), regs. 1, 3