Paragraph 18

In section 41 (meaning of “relevant institution”), for subsections (1) and (2) substitute–

“(1)

In this Part “relevant institution” means–

(a)

a person (whether or not an individual) that carries on financial services business in or from the Bailiwick, or

(b)

a person (not being an individual) who is incorporated or constituted under the law of the Bailiwick or any part thereof and carries on financial services business in any part of the world.

(2)

For the purposes of subsection (1), “financial services business” has the same meaning as in the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law, 1999^f1.”.