Explanatory note

These Regulations, which come into force on 1st January 2002, implement the United Kingdom’s obligations under Article 6(2) of Council Regulation (EC) No. 1338/2001, laying down measures necessary for the protection of the euro against counterfeiting, as applied to the United Kingdom by Article 1 of Council Regulation (EC) No. 1339/2001, extending the effects of Regulation (EC) No. 1338/2001 to those Member States of the European Community which have not adopted the euro as their single currency (O.J. No. L181, 4.7.01, p.11).

Regulations 2 and 3 create two criminal offences and set out the maximum sentences which can be imposed on persons convicted of those offences. Regulation 4 provides for directors and managers of companies, partners of partnerships and other similar persons to be liable to conviction if these offences are committed by the company, partnership or other body with their consent or connivance or as a result of their neglect.