Regulation 39 Amendment of the Proceeds of Crime Act 2002

in sub-paragraph (1)(c), after “long-term insurance” insert “other than a reinsurance contract”;

in sub-paragraph (1)(q), for “10,000 euros” substitute “£10,000”;

in sub-paragraph (1)(u), for “10,000 euros”, in both places, substitute “£10,000”;

in sub-paragraph (4), after paragraph (a), insert—

“(ab)

selling an off-the-shelf firm”;

after sub-paragraph (4), insert—

“(4A)

For the purposes of sub-paragraph (4)(ab), an “off-the-shelf firm” means a firm that either—

(a)

does not carry on business; or

(b)

carries on business but such business is not the main activity carried on by the firm or sole practitioner.”;

in sub-paragraph (6B), for “10,000 euros” substitute “£10,000”.

in sub-paragraph (1)(c), for “or 40 to 49” substitute “, 40 to 49 or 58”;

in sub-paragraph (3)(b), for “1,000 euros” substitute “£1,000”.