Criminal Finances Act 2017
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Change 1
30 Money received by administrators
(1) Paragraph 6 of Schedule 3 to the Proceeds of Crime Act 2002 (money received by administrator) is amended as follows. (2) In sub-paragraph (1) for “an appropriate bank or institution” substitute “ a bank or building society ”. (3) For sub-paragraph (3) substitute— (3) In sub-paragraph (1)— (a) “bank” means an authorised deposit-taker, other than a building society, that has its head office or a branch in the United Kingdom; (b) “building society” has the same meaning as in the Building Societies Act 1986. (4) In sub-paragraph (3)(a) “authorised deposit-taker” means— (a) a person who has permission under Part 4A of the Financial Services and Markets Act 2000 to accept deposits; (b) a person who— (i) is specified, or is within a class of persons specified, by an order under section 38 of that Act (exemption orders), and (ii) accepts deposits; (c) an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to that Act that has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12(1) of that Schedule) to accept deposits. (5) A reference in sub-paragraph (4) to a person or firm with permission to accept deposits does not include a person or firm with permission to do so only for the purposes of, or in the course of, an activity other than accepting deposits.
30 Money received by administrators
(1) Paragraph 6 of Schedule 3 to the Proceeds of Crime Act 2002 (money received by administrator) is amended as follows. (2) In sub-paragraph (1) for “an appropriate bank or institution” substitute “ a bank or building society ”. (3) For sub-paragraph (3) substitute— (3) In sub-paragraph (1)— (a) “bank” means an authorised deposit-taker, other than a building society, that has its head office or a branch in the United Kingdom; (b) “building society” has the same meaning as in the Building Societies Act 1986. (4) In sub-paragraph (3)(a) “authorised deposit-taker” means— (a) a person who has permission under Part 4A of the Financial Services and Markets Act 2000 to accept deposits; (b) a person who— (i) is specified, or is within a class of persons specified, by an order under section 38 of that Act (exemption orders), and (ii) accepts deposits; (c) an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to that Act that has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12(1) of that Schedule) to accept deposits. (5) A reference in sub-paragraph (4) to a person or firm with permission to accept deposits does not include a person or firm with permission to do so only for the purposes of, or in the course of, an activity other than accepting deposits.
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