Regulation 26 Supervisory authorities etc. to report evidence of money laundering

(1)

Where a supervisory authority, in the light of any information obtained by it, knows or suspects, or has reasonable grounds for knowing or suspecting, that someone has or may have been engaged in money laundering, the supervisory authority must disclose the information to a constable as soon as is reasonably practicable.

(2)

Where a supervisory authority passes the information to any other person who has such knowledge or suspicion or such reasonable grounds for knowledge or suspicion as is mentioned in paragraph (1), he may disclose the information to a constable.

(3)

Where any person within paragraph (6), in the light of any information obtained by him, knows or suspects or has reasonable grounds for knowing or suspecting that someone has or may have been engaged in money laundering, he must, as soon as is reasonably practicable, disclose that information either to a constable or to the supervisory authority by whom he was appointed or authorised.

(4)

Where information has been disclosed to a constable under this regulation, he (or any person obtaining the information from him) may disclose it in connection with the investigation of any criminal offence or for the purpose of any criminal proceedings, but not otherwise.

(5)

A disclosure made under this regulation is not to be taken to breach any restriction on the disclosure of information (however imposed).

(6)

Persons within this paragraph are—

(a)

a person or inspector appointed under section 65 or 66 of the Friendly Societies Act 1992 M1;

(b)

an inspector appointed under section 49 of the Industrial and Provident Societies Act 1965 or section 18 of the Credit Unions Act 1979 M2;

(c)

an inspector appointed under section 431, 432, 442 or 446 of the Companies Act 1985 M3 or under Article 424, 425, 435 or 439 of the Companies (Northern Ireland) Order 1986 M4;

(d)

a person or inspector appointed under section 55 or 56 of the Building Societies Act 1986 M5;

(e)

a person appointed under section 167, 168(3) or (5), 169(1)(b) or 284 of the 2000 Act, or under regulations made as a result of section 262(2)(k) of that Act, to conduct an investigation; and

(f)

a person authorised to require the production of documents under section 447 of the Companies Act 1985, Article 440 of the Companies (Northern Ireland) Order 1986 or section 84 of the Companies Act 1989.

Annotations

Marginal citations

M1: 1992 c. 40.
M2: 1979 c. 34.
M3: 1985 c. 6.
M4: S.I. 1986/1032 (N.I. 6).
M5: 1986 c. 53.