SCHEDULES

SCHEDULE 8Cryptoassets: confiscation orders

PART 3Northern Ireland

I1I2I347Property held by persons subject to confiscation orders: destruction, realisation etc

1

Section 215 (seized money) is amended as follows.

2

In subsection (1)(b), for “bank or a building society” substitute “relevant financial institution”.

3

In subsection (5A)—

a

for “a bank or building society” substitute “a relevant financial institution”;

b

for “the bank or building society” substitute “the relevant financial institution”.

4

In subsection (6), for “bank or building society” substitute “relevant financial institution”.

5

In subsection (7A), for “bank or building society” substitute “relevant financial institution”.

6

In subsection (8)—

a

in paragraph (a) of the definition of “appropriate person”, for the words from “a bank” to the end substitute “a relevant financial institution, the relevant financial institution”;

b

at the appropriate places insert—

  • “electronic money institution” has the same meaning as in the Electronic Money Regulations 2011 (S.I. 2011/99) (see regulation 2 of those Regulations);

  • “payment institution” means an authorised payment institution or a small payment institution (each as defined in regulation 2 of the Payment Services Regulations 2017 (S.I. 2017/752));

  • “relevant financial institution” means a bank, a building society, an electronic money institution or a payment institution;

7

For the heading substitute “Money”.