Regulation 2 Amendment of the Protection of the Euro against Counterfeiting Regulations 2001

The Protection of the Euro against Counterfeiting Regulations 2001^f1 are amended as follows.

In regulation 1(2)(a), after “counterfeiting” insert “as amended by Council Regulation (EC) No. 44/2009 of 18 December 2008”^f2.

In regulations 2 and 3(1), for “A credit institution, or other institution or establishment within” substitute “An institution or economic agent referred to in”.

After regulation 3 insert—

“3A.

(1)

An institution or economic agent referred to in Article 6(1) of the Community Regulation, which fails to ensure that euro notes and euro coins which it has received and which it intends to put back into circulation are checked for authenticity by trained personnel or by a machine authorised for that purpose by the European Central Bank, in the case of banknotes, or the European Commission, in the case of coins, shall be guilty of an offence and liable—

(a)

on summary conviction, to a fine not exceeding the statutory maximum; or

(b)

on conviction on indictment, to a fine.”.