Moved by
Lord Ahmad of Wimbledon
6: Schedule 2, page 50, line 6, leave out sub-paragraph (1) and insert—
“(1) Require—
(a) the Secretary of State or the Treasury, or both of them acting jointly,
(b) supervisory authorities (within the meaning given by paragraph 23), and
(c) such persons carrying on relevant business (within the meaning given by that paragraph) as are prescribed for the purposes of this paragraph,
to identify and assess risks relating to money laundering, terrorist financing or other threats to the integrity of the international financial system.”
7: Schedule 2, page 50, line 11, leave out paragraph 3 and insert—
“3_ Require any person carrying on relevant business who is of a description prescribed for the purposes of this paragraph (“a relevant person”) to have policies, controls and procedures which—
(a) are policies, controls and procedures for mitigating and managing risks relating to money laundering, terrorist financing or other threats to the integrity of the international financial system,
(b) are of prescribed kinds, and
(c) are appropriate having regard to the size and nature of the business that the person carries on.”
8: Schedule 2, page 53, line 41, at end insert—
““relevant business” means business of a kind which entails risks relating to money laundering, terrorist financing or other threats to the integrity of the financial system;”