Explanatory note

These Regulations make amendments consequent to the coming into force of the Terrorism (United Nations Measures) Order 2009 (S.I. 2009/1747) (“the 2009 Order”) by adding references to that Order in three Regulations.

The Money Laundering Regulations 2007 (S.I. 2007/2157) implement in part Directive 2005/60/EC on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing (O.J. L 309, 25.11.2005, p.15). The Transfer of Funds (Information on the Payer) Regulations 2007 (S.I. 2007/3298) make provision for the enforcement of the obligations set out in EC Regulation 1781/2006/EC on information on the payer accompanying transfers of funds (O.J. L 345, 8.12.2006, p.1). The Payment Services Regulations 2009 (S.I. 2009/209) implement Directive 2007/64/EC on payment systems in the internal market (O.J. L 319, 5.12.2007, p.1).

In each case reference is made to offences under the Terrorism (United Nations Measures) Order 2006 (S.I. 2006/2657). These Regulations add references to the equivalent offences under the 2009 Order.

A regulatory impact assessment of the effect that this instrument will have on the costs of business is available from the Asset Freezing Unit, 1 Horse Guards Road, London SW1A 2HQ and is also available on the Treasury's website (www.hm-treasury.gov.uk) and is annexed to the Explanatory Memorandum which is available alongside the instrument on the OPSI website.