Commentary on Sections Part 8: Investigations Customer information orders Section 398: Meaning of customer information
547.Section 398 sets out the definition of “customer information” for individuals and for companies and partnerships. Subsections (2)(f) and (3)(i) require financial institutions to produce evidence of identity obtained in compliance with the relevant existing legislation, currently the Money Laundering Regulations 1993 [SI 1993 No.1933]. By virtue of section 459(6), any order made by the Scottish Ministers under subsection (4) to extend the meaning of “customer information” will have to be laid before and approved by a resolution of the Scottish Parliament.