PART 2Prevention, investigation and prosecution of crime

CHAPTER 4Other provisions

Proceeds of crime

I159Proceeds of crime: account freezing orders

1

In section 303Z1 of the Proceeds of Crime Act 2002 (application for account freezing order)—

a

omit subsections (5A) and (5B), and

b

in subsection (6), at the appropriate place insert—

  • “relevant financial institution” means—

    1. a

      a bank,

    2. b

      a building society,

    3. c

      an electronic money institution, or

    4. d

      a payment institution.

2

In section 316(1) of that Act (general interpretation), in the definition of “relevant financial institution”, after “303Z1” insert “(6)”.

3

In section 48 of the Financial Services Act 2021 (extent)—

a

in subsection (1), for “subsections (2) and (3)” substitute “subsection (2)”, and

b

omit subsection (3).

4

In paragraph 14 of Schedule 12 to that Act (forfeiture of money: electronic money institutions and payment institutions) omit sub-paragraphs (3) and (4).