The Act Schedule 5: Persons specified for the purposes of section 82 Chapter 6: Proceeds of Crime Section 106: Money laundering: miscellaneous amendments
231.Section 106(2) amends section 330 of the Proceeds of Crime Act 2002 so that the nominated officer advising a professional legal adviser in a firm of solicitors is not obliged to make a disclosure where the professional legal adviser, who has information that came to him/her in privileged circumstances, has made a report to the nominated officer for the purposes of seeking his/her advice about whether the facts known to him/her give rise to a need to make a formal disclosure.
232.Subsection (5) amends section 338 by adding a further condition to the circumstances in which a disclosure will be “authorised” for the purpose of affording a defence to the principal money laundering offences in the Act. This covers the circumstances when the person required to make a disclosure does not initially suspect that the property is criminal property.