Source: https://www.legislation.gov.uk/ukpga/2018/13/body
Timestamp: 2020-08-13 09:33:54
Document Index: 196109800

Matched Legal Cases: ['art. 3', 'art. 3', 'art. 3', 'ART 1', 'art 1', 'art 5', 'ART 2', 'art 21']

Changes over time for: Sanctions and Anti-Money Laundering Act 2018 (without Schedules)
There are outstanding changes not yet made by the legislation.gov.uk editorial team to Sanctions and Anti-Money Laundering Act 2018. Any changes that have already been made by the team appear in the content and are referenced with annotations.
s. 19 applied (with modifications) by S.I. 2019/411 reg. 124 (This amendment comes into force in accordance with regulations made by the Secretary of State under 2018 c. 13, s. 56)
s. 19 applied (with modifications) by S.I. 2019/433 reg. 63
s. 19 applied (with modifications) by S.I. 2019/438 reg. 63 (This amendment comes into force in accordance with regulations made by the Secretary of State under 2018 c. 13, s. 56)
s. 19 applied (with modifications) by S.I. 2019/461 reg. 70 (This amendment comes into force in accordance with regulations made by the Secretary of State under 2018 c. 13, s. 56)
s. 19 applied (with modifications) by S.I. 2019/466 reg. 53 (This amendment comes into force in accordance with regulations made under 2018 c. 13, s. 56)
s. 19 applied (with modifications) by S.I. 2019/573 reg. 56 (This amendment comes into force in accordance with regulations made by the Secretary of State under 2018 c. 13, s. 56)
s. 19 applied (with modifications) by S.I. 2019/600 reg. 62 (This amendment comes into force in accordance with regulations made under 2018 c. 13, s. 56)
s. 19 applied (with modifications) by S.I. 2019/604 reg. 63 (This amendment comes into force in accordance with regulations made under 2018 c. 13, s. 56)
s. 20 applied (with modifications) by S.I. 2019/411 reg. 124 (This amendment comes into force in accordance with regulations made by the Secretary of State under 2018 c. 13, s. 56)
s. 20 applied (with modifications) by S.I. 2019/433 reg. 63
s. 20 applied (with modifications) by S.I. 2019/438 reg. 63 (This amendment comes into force in accordance with regulations made by the Secretary of State under 2018 c. 13, s. 56)
s. 20 applied (with modifications) by S.I. 2019/461 reg. 70 (This amendment comes into force in accordance with regulations made by the Secretary of State under 2018 c. 13, s. 56)
s. 20 applied (with modifications) by S.I. 2019/466 reg. 53 (This amendment comes into force in accordance with regulations made under 2018 c. 13, s. 56)
s. 20 applied (with modifications) by S.I. 2019/573 reg. 56 (This amendment comes into force in accordance with regulations made by the Secretary of State under 2018 c. 13, s. 56)
s. 20 applied (with modifications) by S.I. 2019/600 reg. 62 (This amendment comes into force in accordance with regulations made under 2018 c. 13, s. 56)
s. 20 applied (with modifications) by S.I. 2019/604 reg. 63 (This amendment comes into force in accordance with regulations made under 2018 c. 13, s. 56)
s. 44 extended by S.I. 2020/773 art. 3(a) Sch. 1
s. 49(3) words repealed by 2018 c. 13 Sch. 3 para. 9
s. 52(3) extended by S.I. 2020/773 art. 3(b) Sch. 1
s. 53 extended (with modifications) by S.I. 2020/773 art. 3(c) Sch. 1
Sch. 1 para. 32 applied by S.I. 2019/411 reg. 64(5) (This amendment comes into force in accordance with regulations made by the Secretary of State under 2018 c. 13, s. 56)
Sch. 1 para. 36 applied by S.I. 2019/411 reg. 64(5) (This amendment comes into force in accordance with regulations made by the Secretary of State under 2018 c. 13, s. 56)
Sch. 1 para. 32 applied by S.I. 2019/433 reg. 20(1)
Sch. 1 para. 32 applied by S.I. 2019/438 reg. 20(1) (This amendment comes into force in accordance with regulations made by the Secretary of State under 2018 c. 13, s. 56)
Sch. 1 para. 36 applied by S.I. 2019/438 reg. 20(1) (This amendment comes into force in accordance with regulations made by the Secretary of State under 2018 c. 13, s. 56)
Sch. 1 para. 32 applied by S.I. 2019/466 reg. 14(1) (This amendment comes into force in accordance with regulations made under 2018 c. 13, s. 56)
Sch. 1 para. 36 applied by S.I. 2019/466 reg. 14(1) (This amendment comes into force in accordance with regulations made under 2018 c. 13, s. 56)
Sch. 1 para. 32 applied by S.I. 2019/573 reg. 18(1) (This amendment comes into force in accordance with regulations made by the Secretary of State under 2018 c. 13, s. 56)
Sch. 1 para. 36 applied by S.I. 2019/573 reg. 18(1) (This amendment comes into force in accordance with regulations made by the Secretary of State under 2018 c. 13, s. 56)
Sch. 1 para. 32 applied by S.I. 2019/604 reg. 20(1) (This amendment comes into force in accordance with regulations made under 2018 c. 13, s. 56)
Sch. 1 para. 36 applied by S.I. 2019/604 reg. 20(1) (This amendment comes into force in accordance with regulations made under 2018 c. 13, s. 56)
Sch. 1 para. 32-36 applied by S.I. 2019/792 reg. 27(1)
Sch. 1 para. 32-36 applied by S.I. 2019/855 reg. 21(4)
Sch. 1 para. 32 applied by S.I. 2020/612 reg. 6(1) (This amendment comes into force in accordance with regulations made by the Secretary of State under 2018 c. 13, s. 56)
Sch. 1 para. 36 applied by S.I. 2020/612 reg. 6(1) (This amendment comes into force in accordance with regulations made by the Secretary of State under 2018 c. 13, s. 56)
Sch. 1 para. 32 applied by S.I. 2020/616 reg. 20(1) (This amendment comes into force in accordance with regulations made by the Secretary of State under 2018 c. 13, s. 56)
Sch. 1 para. 36 applied by S.I. 2020/616 reg. 20(1) (This amendment comes into force in accordance with regulations made by the Secretary of State under 2018 c. 13, s. 56)
Sch. 1 para. 32 applied by S.I. 2020/642 reg. 20(1) (This amendment comes into force in accordance with regulations made by the Secretary of State under 2018 c. 13, s. 56)
Sch. 1 para. 36 applied by S.I. 2020/642 reg. 20(1) (This amendment comes into force in accordance with regulations made by the Secretary of State under 2018 c. 13, s. 56)
PART 1 U.K.Sanctions regulations
CHAPTER 1U.K.Power to make sanctions regulations
Power to make sanctions regulationsU.K.
1Power to make sanctions regulationsU.K.
I1S. 1 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
2Additional requirements for regulations for a purpose within section 1(2)U.K.
I2S. 2 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
Types of sanctionU.K.
3Financial sanctionsU.K.
I3S. 3 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
4Immigration sanctionsU.K.
I4S. 4 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
5Trade sanctionsU.K.
I5S. 5 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
6Aircraft sanctionsU.K.
I6S. 6 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
7Shipping sanctionsU.K.
I7S. 7 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
8Other sanctions for purposes of UN obligationsU.K.
I8S. 8 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
I9S. 9 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
I10S. 10 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
I11S. 11 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
I12S. 12 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
I13S. 13 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
Specified shipsU.K.
14“Specified ships”U.K.
I14S. 14 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
Contents of sanctions regulations: further provisionU.K.
15Exceptions and licencesU.K.
I15S. 15 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
I16S. 16 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
17EnforcementU.K.
I17S. 17 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
18Report in respect of offences in regulationsU.K.
I18S. 18 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
19Enforcement: goods etc on shipsU.K.
I19S. 19 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
20Goods etc on ships: non-UK conductU.K.
I20S. 20 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
21Extra-territorial applicationU.K.
I21S. 21 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
CHAPTER 2U.K.Review by appropriate Minister, and other reviews
Revocation, variation and review of designationsU.K.
22Power to vary or revoke designation made under regulationsU.K.
I22S. 22 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
23Right to request variation or revocation of designationU.K.
I23S. 23 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
24Periodic review of certain designationsU.K.
I24S. 24 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
25Right of UN-named person to request reviewU.K.
(2)The person may request the Secretary of State to use the Secretary of State's best endeavours to secure that the person's name is removed from the relevant UN list.
I25S. 25 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
Revocation and review in relation to shipsU.K.
26Power to revoke specification of ship made under regulationsU.K.
I26S. 26 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
27Right to request revocation of specification of shipU.K.
I27S. 27 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
I28S. 28 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
29UN-designated ship: right to request reviewU.K.
(2)Any person affected by that provision may request the Secretary of State to use the Secretary of State's best endeavours to secure that a ship so designated ceases to be designated for any purposes of the Resolution.
I29S. 29 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
Review of regulationsU.K.
30Review by appropriate Minister of regulations under section 1U.K.
I30S. 30 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
31Independent review of regulations with counter-terrorism purposeU.K.
I31S. 31 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(a)
Procedure for requests to, and reviews by, appropriate MinisterU.K.
33Procedure for requests to, and reviews by, appropriate MinisterU.K.
I32S. 33 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(b)
CHAPTER 3U.K.Temporary powers in relation to EU sanctions lists
34Temporary powers in relation to EU sanctions listsU.K.
I33S. 34 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(b)
35Directions under section 34: further provisionU.K.
I34S. 35 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(b)
36Rights of person on EU sanctions listU.K.
I35S. 36 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(b)
37Rights of UN-named person on EU sanctions listU.K.
I36S. 37 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(b)
CHAPTER 4U.K.Court reviews
38Court review of decisionsU.K.
(a)any decision under section 23(3) or 24(2) (decision, following a request to or review by an appropriate Minister, on whether a designation of a person made under a designation power should be varied or revoked);
(b)any decision under section 27(3) or 28(2) (decision, following a request to or review by an appropriate Minister, on whether a ship specification should be revoked);
(c)any decision under section 25(4), 29(4), 36(4) or 37(4) not to comply with a request;
(d)any other decision of an appropriate Minister in connection with functions of that Minister under this Part or regulations under this Part, other than—
(i)a decision to make or vary, or not to revoke or vary, a designation under a designation power where the designated person has a right to make a request under section 23 or would have but for section 23(2),
(ii)a decision to make a ship specification, or not to revoke a ship specification, where a person has a right to make a request in respect of that specification under section 27 or would have but for section 27(2), or
(iii)a decision to give a direction under section 34(3)(a) where the person has a right to make a request under section 36 or would have but for section 36(3) or 37.
(2)The appropriate person may apply to the High Court or, in Scotland, the Court of Session, for the decision to be set aside.
(a)in relation to a decision within subsection (1)(a), the person named by the designation or, where the designation is of persons of a specified description, any person of that description;
(b)in relation to a decision within subsection (1)(b) or (d), any person affected by the decision;
(c)in relation to a decision within subsection (1)(c), the person who made the request.
(4)In determining whether the decision should be set aside, the court must apply the principles applicable on an application for judicial review.
(5)If the court decides that a decision should be set aside it may make any such order, or give any such relief, as could in the absence of this section be made or given in proceedings for judicial review of the decision; but this is subject to section 39(1) to (4).
(6)In this section and section 39 “a ship specification” means a specification of a ship made under a power contained in regulations under section 1 by virtue of section 14.
I37S. 38 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(b)
39Court reviews: further provisionU.K.
I38S. 39 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(b)
40Rules of courtU.K.
(1)Sections 66 to 68 of the Counter-Terrorism Act 2008 (supplementary provisions relating to rules of court and special advocates) apply in relation to proceedings—
(a)on an application under section 38 (court review of decisions), or
(b)on a claim arising from any matter to which such an application relates,
as they apply in relation to financial restrictions proceedings within the meaning of section 65 of that Act, but with the following modification.
(2)That modification is that any reference in those sections to the Treasury is to be read, in relation to proceedings on an application under section 38 of this Act in respect of a decision of the Secretary of State or a claim arising from any matter to which such an application relates, as a reference to the Secretary of State.
(3)The first time after the passing of this Act that rules of court are made in exercise of the powers conferred by subsection (1) in relation to proceedings in England and Wales—
(a)on an application under section 38, or
(4)The first time after the passing of this Act that rules of court are made in exercise of the powers conferred by subsection (1) in relation to proceedings in Northern Ireland—
(5)Before making rules of court under this section, the Lord Chancellor must consult—
(6)The Lord Chancellor is not required to undertake any other consultation before making the rules.
(7)The requirements of subsection (5)(a) and (b) may be satisfied by consultation that took place wholly or partly before the passing of this Act.
(8)Rules of court made by the Lord Chancellor under this section—
(b)if not approved by a resolution of each House before the end of 28 days beginning with the day on which they were made, cease to have effect at the end of that period.
(9)In calculating a period of 28 days for the purposes of subsection (8), no account is to be taken of any time during which Parliament is dissolved or prorogued or during which both Houses are adjourned for more than 4 days.
(10)If rules cease to have effect in accordance with subsection (8)(b)—
(a)that does not affect anything done under the rules, and
(b)subsection (3) or (as the case may be) (4) applies as if the rules had not been made.
(11)The following provisions do not apply to rules of court made by the Lord Chancellor under this section—
(12)Section 4(1) of the Statutory Instruments Act 1946 (statutory instruments which are required to be laid before Parliament) applies to any such rules applicable to proceedings in Northern Ireland as it applies to a statutory instrument which is required to be laid before Parliament after being made.
(13)Until section 85 of the Courts Act 2003 (process for making civil procedure rules) comes into force, in subsection (11)(a) above “section 3(6)” is to be read as “section 3(2)”.
are contained in the same instrument as the rules mentioned in subsection (3) or (as the case may be) (4), and
relate specifically to the same kind of proceedings as those rules,
I39S. 40 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(b)
I40S. 41 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(b)
42Suspension of prohibitions and requirementsU.K.
(1)An appropriate Minister may make regulations (“suspending regulations”) providing that—
(a)while the suspending regulations have effect, or
(b)for a specified period,
a specified prohibition or requirement of regulations under section 1 is not to have effect.
(2)In this section “specified” means specified in the suspending regulations.
(3)A period specified under subsection (1)(b) may be expressed in any way, including, for example, being expressed in a way such that—
(a)the period begins, or ends, when a specified condition is met, or
(b)the period begins when a specified condition is met and lasts for so long as the suspending regulations or a specified provision of those regulations has effect.
I41S. 42 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(b)
43Guidance about regulations under section 1U.K.
(1)Where regulations are made under section 1, the appropriate Minister who made the regulations must issue guidance about any prohibitions and requirements imposed by the regulations.
(2)The guidance may include guidance about—
(a)best practice for complying with the prohibitions and requirements;
(b)the enforcement of the prohibitions and requirements;
(c)circumstances where the prohibitions and requirements do not apply.
I42S. 43 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(b)
44Protection for acts done for purposes of complianceU.K.
(1)This section applies to an act done in the reasonable belief that the act is in compliance with—
(a)regulations under section 1, or
(b)directions given by virtue of section 6 or 7.
(2)A person is not liable to any civil proceedings to which that person would, in the absence of this section, have been liable in respect of the act.
(3)In this section “act” includes an omission.
I43S. 44 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(b)
45Revocation and amendment of regulations under section 1U.K.
(1)Section 1 includes a power, by further regulations under that section (“new regulations”)—
(a)to revoke any regulations under that section, or
(b)to amend any regulations under that section where the condition in subsection (2) below is met.
(2)The condition referred to in subsection (1)(b) is that the appropriate Minister making the new regulations—
(a)considers that the regulations being amended will, as amended, be sanctions regulations within the meaning given by section 1(5) that are appropriate for the purpose stated in them under section 1(3), and
(b)if any purpose stated in the regulations being amended is a purpose other than compliance with a UN obligation or other international obligation, considers in respect of each such purpose—
(i)that carrying out that purpose would meet one or more of the conditions in paragraphs (a) to (i) of section 1(2),
(ii)that there are good reasons to pursue that purpose, and
(iii)that the imposition of sanctions is a reasonable course of action for that purpose.
(3)In subsection (2)(b)(iii) “sanctions” means prohibitions and requirements of the kinds imposed by the amended regulations for the purpose in question (or both for that purpose and for another purpose of those regulations).
In this subsection “the amended regulations” means the regulations being amended as those regulations will be when amended.
(4)Except as permitted by subsection (5), the purpose stated under section 1(3) in any regulations under section 1 may not be amended (but this does not prevent regulations under that section from being revoked and replaced by regulations with a purpose that is to any extent different from that of the revoked regulations).
(5)Where the purpose stated under section 1(3) in any regulations under section 1 is or includes compliance with a specified UN obligation or other international obligation, regulations made by virtue of this section may amend that purpose so as to—
(a)add a reference to a UN obligation, or other international obligation, to which the United Kingdom is for the time being subject,
(b)substitute such a reference for another reference to a UN obligation or other international obligation, or
(c)remove a reference to a UN obligation, or other international obligation, to which the United Kingdom is no longer subject.
(6)The requirements of section 1(1) and (3), section 2 and section 30 do not apply in relation to regulations made by virtue of this section.
(7)In relation to section 1, this section has effect in place of section 14 of the Interpretation Act 1978 (implied power to revoke and amend).
I44S. 45 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(b)
46Report where regulations for a purpose within section 1(2) are amendedU.K.
(a)by virtue of section 45 regulations under section 1 are amended by further regulations under section 1 (“new regulations”), and
(b)the regulations being amended state under section 1(3) a purpose other than compliance with a UN obligation or other international obligation.
(2)The appropriate Minister making the new regulations must at the required time lay before Parliament a report which explains why that Minister is of the opinion mentioned in section 45(2)(b).
(3)Nothing in subsection (2) requires the report to contain anything the disclosure of which may in the opinion of that Minister damage national security or international relations.
(4)In subsection (2) “the required time” means—
(a)where the new regulations are contained in a statutory instrument which is laid before Parliament after being made, the same time as the instrument is laid before Parliament;
(b)where a draft of a statutory instrument containing the new regulations is laid before Parliament, the same time as the draft is laid.
I45S. 46 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(b)
47Power to amend Part 1 so as to authorise additional sanctionsU.K.
(1)An appropriate Minister may by regulations amend this Part so as to authorise regulations under section 1 to impose prohibitions or requirements of kinds—
(a)which are not for the time being authorised by Chapter 1 (ignoring section 8), but
(b)which are kinds of prohibition or requirement that the United Kingdom—
(i)has any UN obligation or other international obligation to impose, or
(ii)has at any time had any UN obligation or other international obligation to impose.
(2)Without prejudice to the generality of subsection (1) or section 54(2), regulations under this section—
(a)may amend the definition of “sanctions regulations” in section 1(5), and
(b)where they make any such amendment, may amend this Part in connection with that amendment.
(3)For the avoidance of doubt, regulations under this section may not add to or amend the purposes mentioned in section 1(1) or amend section 1(2).
I46S. 47 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(b)
48Power to make provision relating to certain appealsU.K.
(1)In this section an “immigration designation” means a designation of a person (whether by name or by description) which—
(a)is made under a designation power contained in regulations under section 1, and
(b)designates the person for the purposes of any provision of the regulations that provides for designated persons to be excluded persons for the purposes of section 8B of the Immigration Act 1971.
(2)In this section an “immigration claim” means any representation made by a person to an appropriate Minister which—
(a)is made in connection with an immigration designation of that person, and
(3)A representation is within this subsection if it is a representation by a person—
(a)that removal from the United Kingdom of that person would—
(i)breach the United Kingdom's obligations under the Human Rights Convention (“human rights obligations”), or
(ii)breach the United Kingdom's obligations under the Refugee Convention (“Refugee Convention obligations”),
(b)that requiring that person to leave the United Kingdom would breach human rights obligations or breach Refugee Convention obligations, or
(c)that refusal of entry of that person into the United Kingdom would breach human rights obligations or breach Refugee Convention obligations.
(a)about the effect of an immigration claim, or a prescribed description of immigration claim, for the purposes of prescribed provisions of the Immigration Acts;
(b)for a decision of a prescribed description made by an appropriate Minister under this Part, or such a decision so far as relating to prescribed matters, to be treated as a decision from which a person may appeal under section 82(1) of the Nationality, Immigration and Asylum Act 2002 (“the 2002 Act”);
(c)modifying Part 5 of the 2002 Act in relation to an appeal relating to such a decision;
(d)preventing the court in proceedings on an application under section 38 above from considering prescribed issues where—
(i)an immigration claim has been made and the circumstances are such as may be prescribed, or
(ii)a representation within subsection (3) is made in the proceedings and the circumstances are such as may be prescribed;
(e)in relation to any case where under regulations under section 1 above a person is an excluded person for the purposes of section 8B of the Immigration Act 1971, disapplying any of subsections (1), (2) and (3) of that section until the end of a prescribed period or until the occurrence of a prescribed event.
(5)In this section “the Human Rights Convention” and “the Refugee Convention” have the same meaning as in section 8B of the Immigration Act 1971.
I47S. 48 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(b)
PART 2 U.K.Anti-money laundering
49Money laundering and terrorist financing etcU.K.
(1)An appropriate Minister may by regulations make provision for one or more of the following purposes—
(a)enabling or facilitating the detection or investigation of money laundering, or preventing money laundering;
(b)enabling or facilitating the detection or investigation of terrorist financing, or preventing terrorist financing;
(c)the implementation of Standards published by the Financial Action Task Force from time to time relating to combating threats to the integrity of the international financial system.
(2)Schedule 2 makes further provision about regulations under this section.
“money laundering” has the meaning given by section 340(11) of the Proceeds of Crime Act 2002;
“terrorist financing” means an act which constitutes an offence under—
section 15 (fund-raising), 16 (use and possession), 17 (funding arrangements), 18 (money laundering) or 63 (terrorist finance: jurisdiction) of the Terrorism Act 2000,
paragraph 7(2) or (3) of Schedule 3 (freezing orders: offences) to the Anti-terrorism, Crime and Security Act 2001,
regulation 10 (contravention and circumvention of prohibitions) of the ISIL (Da'esh) and Al-Qaida (Asset-Freezing) Regulations 2011 (S.I. 2011/2742), or
section 11 (freezing of funds and economic resources), 12 (making funds or financial services available to designated person), 13 (making funds or financial services available for benefit of designated person), 14 (making economic resources available to designated person), 15 (making economic resources available for benefit of designated person) or 18 (circumventing prohibitions etc) of the Terrorist Asset-Freezing etc Act 2010.
50Reports on progress towards register of beneficial owners of overseas entitiesU.K.
(1)The Secretary of State must, after the end of each reporting period, publish a report explaining the progress that has been made during that period towards putting in place a register of beneficial owners of overseas entities.
(2)For the purposes of this section, the following are reporting periods—
(a)the period of 12 months beginning with the day on which this Act is passed;
(b)the period of 12 months beginning with the day after the end of the period mentioned in paragraph (a);
(c)the period of 12 months beginning with the day after the end of the period mentioned in paragraph (b).
(3)The first and second reports under this section must include—
(a)a statement setting out the steps that are to be taken in the next reporting period towards putting the register in place, and
(b)an assessment of when the register will be put in place.
(4)The third report under this section must include a statement setting out what further steps, if any, are to be taken towards putting the register in place.
(5)Where a report is published under this section the Secretary of State must lay a copy of it before Parliament.
(6)For the purposes of this section “a register of beneficial owners of overseas entities” means a public register—
(a)which contains information about overseas entities and persons with significant control over them, and
(b)which in the opinion of the Secretary of State will assist in the prevention of money laundering.
51Public registers of beneficial ownership of companies registered in British Overseas TerritoriesU.K.
(1)For the purposes of the detection, investigation or prevention of money laundering, the Secretary of State must provide all reasonable assistance to the governments of the British Overseas Territories to enable each of those governments to establish a publicly accessible register of the beneficial ownership of companies registered in each government's jurisdiction.
(2)The Secretary of State must, no later than 31 December 2020, prepare a draft Order in Council requiring the government of any British Overseas Territory that has not introduced a publicly accessible register of the beneficial ownership of companies within its jurisdiction to do so.
(3)The draft Order in Council under subsection (2) must set out the form that the register must take.
(4)If an Order in Council contains requirements of a kind mentioned in subsection (2)—
(a)it must be laid before Parliament after being made, and
(b)if not approved by a resolution of each House of Parliament before the end of 28 days beginning with the day on which it is made, it ceases to have effect at the end of that period (but without that affecting the power to make a new Order under this section).
(5)In calculating a period of 28 days for the purposes of subsection (4), no account is to be taken of any time during which Parliament is dissolved or prorogued or during which both Houses are adjourned for more than four days.
(6)For the purposes of this section, “British Overseas Territories” means a territory listed in Schedule 6 of the British Nationality Act 1981.
(7)For the purposes of this section, “a publicly accessible register of the beneficial ownership of companies” means a register which, in the opinion of the Secretary of State, provides information broadly equivalent to that available in accordance with the provisions of Part 21A of the Companies Act 2006.
52Crown applicationU.K.
53Saving for prerogative powersU.K.
54Regulations: generalU.K.
55Parliamentary procedure for regulationsU.K.
56Regulations under section 1: transitory provisionU.K.
57Duties to lay certain reports before Parliament: further provisionU.K.
I48S. 57 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(c)
58Retained EU rightsU.K.
I49S. 58 in force at 22.11.2018 by S.I. 2018/1213, reg. 2(c)
59Consequential amendments and repealsU.K.
I50S. 59(4) in force at 22.11.2018 for specified purposes by S.I. 2018/1213, reg. 2(d)
61Meaning of “financial services” and “financial products”U.K.
62InterpretationU.K.
63ExtentU.K.
64CommencementU.K.
65Short titleU.K.