Explanatory note

This Order amends the Proceeds of Crime Act 2002 (External Requests and Orders) Order 2005 (S.I. 2005/3181) (the “2005 Order”), the Proceeds of Crime Act 2002 (External Investigations) Order 2013 (S.I. 2013/2605) and the Proceeds of Crime Act 2002 (External Investigations) Order 2014 (S.I. 2014/1893) (the “2014 Order”) (together, the “relevant Orders”).

The relevant Orders were made for the purpose of giving effect to overseas requests, orders and investigations into financial matters resulting from criminal conduct (external requests, external orders and external investigations, as defined in section 447 of the Proceeds of Crime Act 2002 (c. 29) (the “2002 Act”)). The relevant Orders correspond to certain provisions of the 2002 Act and are made under sections 444 and 445 of that Act.

The provisions of the 2002 Act to which the relevant Orders correspond were amended by the Economic Crime (Transparency and Enforcement) Act 2022 (c. 10), which reformed the unexplained wealth order regime, and by the Economic Crime and Corporate Transparency Act 2023 (c. 56), which amended the 2002 Act to provide for the recovery of cryptoassets.

Part 1 makes introductory provision.

Part 2 amends the 2005 Order to reflect the amendments made to the 2002 Act in relation to cryptoassets, and to require the Department of Justice in Northern Ireland to lay a copy of a report by an appointed person on the exercise of their powers received under Article 213F of the 2005 Order before the Northern Ireland Assembly.

Part 3 amends the 2013 Order, and Part 4 amends the 2014 Order, to reflect the amendments made to provisions relating to the unexplained wealth orders in the 2002 Act.

A full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sectors is foreseen.