EU exit amendments
14
(1) The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 are amended as follows. (2) In regulation 42— (a) for paragraph (4) substitute— (4) For the purposes of this Part, an “EEA registered trust” is a trust established in a country or territory other than the United Kingdom where national legislation applies having a broadly equivalent effect to the requirements laid down in the fourth money laundering directive. (b) for paragraph (6)(b) substitute— (b) “third country entity” means a body corporate, partnership or other entity that— (i) is governed by the law of a country or territory other than the United Kingdom and (in each case) is a legal person under that law, and (ii) is not subject to national legislation having a broadly equivalent effect to the requirements laid down in Article 30 of the fourth money laundering directive.