Status: You are viewing the version of the handbook as on 2005-06-30.

ML TP 1 Schedule

ML TP 1.1 Transitional Provisions

(1)

(2)

(3)

(4)

(5)

(6)

Material to which the transitional provision applies

Transitional provision

Transitional provision: dates in force

Handbook provision: coming into force

1

ML 2.1.1 R

ML 7.1.5 R

R

(1) Paragraph (2) applies where, immediately before thecommencement, there is in arelevant firman individual who was appointed by therelevant firmbefore that date to act for it in connection with its responsibilities in relation to money laundering.

(2) If, oncommencement, the individual in (1) is approved to perform themoney laundering function, nothing inML 2.1.1 RorML 7.1.5 Rrequires therelevant firmto reappoint that individual as itsMLRO.

From commencement

Commencement

2

ML 3

R

Where, immediately beforecommencement, arelevant firmalready has an established client relationship with any person, nothing inML 3requires therelevant firmto establish the identity of thatclient.

From commencement

Commencement

31

ML

G

Expired1

1