Criminal Justice (Money Laundering and Terrorist Financing) Act 2010

51

Defences — disclosures within undertaking or group.

51.— (1) It is a defence in any proceedings against an individual for an offence under section 49, in relation to a disclosure, for the individual to prove that, at the time of the disclosure—

(a) he or she was an agent, employee, partner, director or other officer of, or was engaged under a contract for services by, an undertaking, and

(b) he or she made the disclosure to an agent, employee, partner, director or other officer of, or a person engaged under a contract for services by, the same undertaking.

F107[(2) It is a defence in any proceedings against a person for an offence under section 49, in relation to a disclosure, for the person to prove that, at the time of the disclosure

(a) the person was a credit institution or financial institution or a majority-owned subsidiary, or a branch, of a credit institution or financial institution, or made the disclosure on behalf of a credit institution or a financial institution or a majority-owned subsidiary, or a branch, of a credit institution or financial institution, and

(b) the disclosure was to

(i) a credit institution or financial institution incorporated in a Member State, where both the institution making the disclosure, or on whose behalf the disclosure was made, and the institution to which it was made belonged to the same group, or

(ii) a majority-owned subsidiary or branch situated in a third country of a credit institution or financial institution incorporated in a Member State, where the subsidiary or branch was in compliance with group-wide policies and procedures adopted in accordance with section 54, or, as the case may be, Article 45 of the Fourth Money Laundering Directive.]

(3) It is a defence in any proceedings against a person for an offence under section 49, in relation to a disclosure, for the person to prove that, at the time of the disclosure—

(a) the person was a legal adviser or relevant professional adviser,

(b) both the person making the disclosure and the person to whom it was made carried on business in a Member State F108[or in a country other than a high-risk third country], and

(c) those persons performed their professional activities within different undertakings that shared common ownership, management or control.

Annotations

Amendments:

F107

Substituted (23.04.2021) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021 (3/2021), s. 15, S.I. No. 188 of 2021.

F108

Substituted (26.11.2018) by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26/2018), s. 24(b), S.I. No. 486 of 2018.

Editorial Notes:

E25

Previous affecting provision: subss. (2) substituted by Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (26/2018), s. 24(a), S.I. No. 486 of 2018; substituted as per F-note above.