The Terrorism Act 2000 (Business in the Regulated Sector and Supervisory Authorities) Order 2007
This Order amends the meaning of a business in the regulated sector and the meaning of a supervisory authority for the purposes of Part 3 of the Terrorism Act 2000 (c.11) (terrorist property) by substituting new Parts 1 and 2 of Schedule 3A to that Act. The new provisions implement in part Directive 2005/60/EC (OJ No L 309, 25.11.2005, p.15) of the European Parliament and of the Council on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing (“the Directive”). A transposition note setting out how certain elements of the Directive will be transposed into UK law has been prepared jointly by the Treasury and the Home Office. The main elements of the Directive will be transposed into UK law by the Money Laundering Regulations 2007 (S.I. 2007/2157) and a separate transposition note has been prepared in relation to those Regulations. Copies of both transposition notes are available from the Financial Services Team, HM Treasury, 1 Horse Guards Road, London SW1A 2HQ.