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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 98

reg 98 Nature of review etc

(1) This regulation applies if the Commissioners are required to undertake a review under regulation 95 or 97. (2) The nature and extent of the review are to be such as appear appropriate to the Commissioners in the circumstances. (3) For the purpose of paragraph (2), the Commissioners must, in particular, have regard to steps taken before the beginning of the review— (a) by the Commissioners in reaching the decision; and (b) by any person in seeking to resolve disagreement about the decision. (4) The review must take account of any representations made by the person (“P”) at a stage which gives the Commissioners a reasonable opportunity to consider them. (5) The review may conclude that the decision is to be— (a) upheld; (b) varied; or (c) cancelled. (6) The Commissioners must give P notice of the conclusions of the review and their reasoning within— (a) a period of 45 days beginning with the relevant date; or (b) such other period as the Commissioners and P may agree. (7) In paragraph (6), “ relevant date ” means— (a) in a case falling within regulation 95, the date the Commissioners received notification accepting the offer of a review from P; or (b) in a case falling within regulation 97, the date on which the Commissioners decided to undertake the review. (8) Where the Commissioners are required to undertake a review but do not give notice of the conclusions within the time period specified in paragraph (6), the review is to be treated as having concluded that the decision is upheld. (9) If paragraph (8) applies, the Commissioners must notify P of the conclusion which the review is treated as having reached.

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