Title and commencement

1. These Regulations may be cited as the Northern Ireland (Emergency Provisions) Act 1991 (Crown Servants and Regulators etc.) Regulations 1994 and shall come into force on 1st August 1994.

Interpretation

2. In these Regulations-

"the 1991 Act" means the Northern Ireland (Emergency Provisions) Act 1991; and

"relevant financial business" has the meaning given by regulation 4 of the Money Laundering Regulations 1993(2).

Application of the Act to Director of Savings and staff

3. Sections 53, 54(2) to (6) and 54A of the 1991 Act(3)shall apply to the following persons, namely-

(a)the Director of Savings; and

(b)any person employed by or otherwise engaged in the service of the Director of Savings,

in circumstances where the said Director or any such person is carrying on relevant financial business.

Designation of persons performing regulatory etc. functions

4.-(1) Section 54A of the 1991 Act shall not apply to the following persons, being hereby designated for the purposes of section 55A(2)(a) of that Act-

(a)the Bank of England;

(b)the Building Societies Commission;

(c)a designated agency within the meaning of the Financial Services Act 1986(4);

(d)a recognised self-regulating organisation within the meaning of the Financial Services Act 1986;

(e)a recognised professional body within the meaning of the Financial Services Act 1986;

(f)a transferee body within the meaning of the Financial Services Act 1986;

(g)a recognised self-regulating organisation for friendly societies within the meaning of the Financial Services Act 1986;

(h)the Council of Lloyds;

(i)the Friendly Societies Commission;

(j)the Chief Registrar of Friendly Societies;

(k)the Assistant Registrar of Friendly Societies for Scotland;

(l)the Central Office of the Registry of Friendly Societies;

(m)the Registrar of Credit Unions for Northern Ireland;

(n)the Assistant Registrar of Credit Unions for Northern Ireland.

(2) The following category of persons is hereby prescribed for the purposes of section 55A(2)(b) of the 1991 Act, namely, persons who are (for the purpose of performing regulatory, supervisory, investigative or registration functions) employed by or otherwise engaged in the service of any person designated under paragraph (1) of this regulation.

(3) Section 54A of the 1991 Act shall not apply in any circumstances to any person who falls within a category of person prescribed for the purposes of section 55A(2) of that Act.

Explanatory Note

(This note is not part of the Regulations)

The Criminal Justice Act 1993 contains certain money laundering provisions. These provisions include amendments to the Northern Ireland (Emergency Provisions) Act 1991. These Regulations apply sections 53, 54(2) to (6) and 54A of the Northern Ireland (Emergency Provisions) Act 1991 to the Director of Savings and his staff.

These Regulations also designate various persons to whom section 54A of the Northern Ireland (Emergency Provisions) Act 1991 is not to apply.