OpenLegislation

Section 401 StatementsI1C1C2

(1)

A statement made by a financial institution in response to a customer information order may not be used in evidence against it in criminal proceedings.

(2)

But subsection (1) does not apply—

(a)

in the case of proceedings under Part 3,

(b)

on a prosecution for an offence under section 400(1) or (3), or

(c)

on a prosecution for some other offence where, in giving evidence, the financial institution makes a statement inconsistent with the statement mentioned in subsection (1).

(3)

A statement may not be used by virtue of subsection (2)(c) against a financial institution unless—

(a)

evidence relating to it is adduced, or

(b)

a question relating to it is asked,

by or on behalf of the financial institution in the proceedings arising out of the prosecution.

Annotations

Modifications

C1

S. 401 applied (with modifications) (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(3), 20(3)

C2

S. 401 applied (with modifications) (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(3)

Commencement

I1

S. 401 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)