Section 366 OffencesI1C1C2C3C4
A financial institution commits an offence if without reasonable excuse it fails to comply with a requirement imposed on it under a customer information order.
A financial institution guilty of an offence under subsection (1) is liable on summary conviction to a fine not exceeding level 5 on the standard scale.
A financial institution commits an offence if, in purported compliance with a customer information order, it—
makes a statement which it knows to be false or misleading in a material particular, or
recklessly makes a statement which is false or misleading in a material particular.
A financial institution guilty of an offence under subsection (3) is liable—
on summary conviction, to a fine not exceeding the statutory maximum, or
on conviction on indictment, to a fine.
Annotations
Modifications
- C1
S. 366 applied (1.4.2003) by The Proceeds of Crime Act 2002 (Investigations in different parts of the United Kingdom) Order 2003 (S.I. 2003/425), arts. 1, 20(2)
- C2
S. 366 applied (1.4.2003) by The Proceeds of Crime Act 2002 (Investigations in different parts of the United Kingdom) Order 2003 (S.I. 2003/425), arts. 1, 29(1), (2)
- C3
S. 366 applied (1.4.2003) by The Proceeds of Crime Act 2002 (Investigations in different parts of the United Kingdom) Order 2003 (S.I. 2003/425), arts. 1, 10(2), 20(2), 29(1)(2), 30(1)(2)
- C4
S. 366 applied (1.4.2003) by The Proceeds of Crime Act 2002 (Investigations in different parts of the United Kingdom) Order 2003 (S.I. 2003/425), arts. 1, 30(1), (2)
Commencement
- I1
S. 366 in force at 24.2.2003 by S.I. 2003/120, art. 2, Sch. (with arts. 3, 4) (as amended (20.2.2003) by S.I. 2003/333, art. 14)
Notes on Chapter 2
Modifications
- C1
Pt. 8 Ch. 2: power to modify conferred (20.3.2015) by Crime and Courts Act 2013 (c. 22), ss. 47, 61(2); S.I. 2015/813, art. 2(b)