PROCEEDS OF CRIME ACT (BUSINESS IN THE REGULATED SECTOR) ORDER 2019

The May Order Paper for Tynwald in the Isle of Man includes this Order which replaces Schedule 4 to the Proceeds of Crime Act 2008.  The new Schedule provides that one of 3 AML/CFT Codes applies to a business in the regulated sector, depending on the particular activities of the business (e.g. a specified non-profit organisation, an ordinary business, or a gambling business).  It also amends a number of definitions.

http://www.tynwald.org.im/business/opqp/sittings/20182021/2019-SD-0204.pdf

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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