Criminal Justice (Money Laundering) (Amendment) Code 2008 inserted as Appendix B(c).

This legislation amends Schedule 1 (Relevant business) to the Criminal Justice (Money Laundering) Code 2007 by providing that lending, financial leasing arrangements and the provision of financial guarantees and commitments do not in themselves fall within the definition of "relevant business" contained in the Code where they are provided -

1. by a parent undertaking to a subsidiary of that parent undertaking;
2. by a subsidiary of a parent undertaking to that parent undertaking; or
3. by a subsidiary of a parent undertaking to another subsidiary of that parent undertaking.

This legislation also adds Monaco to the equivalent jurisdictions listed in Schedule 2 of the Criminal Justice (Money Laundering) Code 2007.

Subsequent changes made to Sections 2.01 and 2.04 of the Anti-Money Laundering Guidance Notes to reference this new legislation and the amendments to Schedule 1.

Appendix D updated to reflect the addition of Monaco to Schedule 2 of the Criminal Justice (Money Laundering) Code 2007.

Amendments made throughout the AMLGN to reflect referencing changes as a result of the new Criminal Justice (Money Laundering) Code 2007 coming into effect on 1 September 2007.

The Criminal Justice (Money Laundering) Code 2007 has also led to further changes as follows:

Section 2.03 amended to provide updated references to Code requirements. Section 2.04 amended to remove section regarding the Anti-Money Laundering (Amendment) Code 1999.

New section 2.04 now relates to businesses covered by the Code and reflects the Code's extension of the requirements to other businesses.

Section 3.01 amended to reflect the requirements of paragraph 6 of the Code regarding Continuing Business relationships.

Section 3.04 amended to reflect new requirements when using the Eligible Introducer system in accordance with paragraph 8 of the Code.

Section 5.01 amended to reflect that the MLRO appointed under the Code must be sufficiently senior with the organisation, or if not within the organisation, have sufficient experience and authority.

Section 6.01 amended to reflect the requirements of paragraph 6 of the Code.

Section 7 amended to reflect the new record keeping requirements of the Code.

Section 8 amended to reflect the requirements in the Code to screen new staff. Appendix B amended with insertion of new Criminal Justice (Money Laundering) Code 2007 to replace the revoked Anti-Money Laundering Code 1998 (as amended).

Appendix D amended to reflect the countries listed in Schedule 2 of the Code.

Appendices F(a) and F(b) amended to reflect the businesses that may be Eligible Introducers under paragraph 8 of the Code and to reflect additional requirements under the Code when utilising the Eligible Introducers' system.

Appendices M(a) and M(b) amended to reflect the businesses that may be Acceptable Applicants under the Code and to reflect additional requirements when utilising the Acceptable Applicants' system.

Appendix N amended to reflect the revocation of the Anti-Money Laundering (Amendment) Code 1999 and requirements of the Code regarding staff screening.