Part 2: Prevention, investigation and prosecution of crime Chapter 4: Other provisions Section 59: Proceeds of crime: account freezing orders
Section 59 provides for consistency of account freezing and forfeiture provisions across the UK by ensuring that they can be used in respect of accounts maintained with Electronic Money Institutions (such as PayPal) and Payment Institutions (such as Revolut) in Northern Ireland.
	Subsection (1) replaces the two separate definitions of "relevant financial institution" in the Proceeds of Crime Act 2002 as they apply to England and Wales and Scotland, and Northern Ireland, and replaces them with a single list.
	Subsection (2) ensures that the definition of a "relevant financial institution" applies across the entirety of the Proceeds of Crime Act 2002.
	Subsections (3) and (4) amends the Financial Services Act 2021 to remove sections that are now obsolete, in light of the other amendments made in section 59.