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The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 reg 88

reg 88 Information offences

(1) A person (“P”) commits an offence if, in purported compliance with a requirement imposed on P by or under these Regulations, P provides information to any person which is false or misleading in a material particular, and— (a) P knows that the information is false or misleading; or (b) P is reckless as to whether the information is false or misleading. (2) A person guilty of an offence under paragraph (1) is liable— (a) on summary conviction— (i) in England and Wales, to imprisonment for a term not exceeding three months, to a fine or to both, (ii) in Scotland or Northern Ireland, to imprisonment for a term not exceeding three months, to a fine not exceeding the statutory maximum or to both; (b) on conviction on indictment, to imprisonment for a term not exceeding two years or to a fine or to both. (3) A person who discloses information in contravention of a relevant requirement is guilty of an offence and liable— (a) on summary conviction— (i) in England and Wales, to imprisonment for a term not exceeding three months, to a fine or to both, (ii) in Scotland or Northern Ireland, to imprisonment for a term not exceeding three months, to a fine not exceeding the statutory maximum or to both; (b) on conviction on indictment, to imprisonment for a term not exceeding two years or to a fine or to both. (4) It is a defence for a person charged with an offence under paragraph (3) of disclosing information to prove that they reasonably believed— (a) that the disclosure was lawful; or (b) that the information had already and lawfully been made available to the public.

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