Failure to disclose knowledge or suspicion of offences7
1
A relevant institution must inform the Treasury—
a
if it knows or suspects that a relevant person—
i
is a designated person;
ii
is a person acting on behalf of a designated person; or
iii
has committed an offence under article 3(1), 4(9), 5 or 6(2); and
b
of the information or other matter on which the knowledge or suspicion is based
as soon as is reasonably practicable after that information or other matter comes to its attention.
2
A “relevant person” means a person who is, or has been at any time since the coming into force of this Order—
a
a customer of the institution; or
b
a person with whom the institution has had dealings in the course of its business since that time.
3
A relevant institution that fails to comply with the requirement in paragraph (1) is guilty of an offence.
4
A disclosure made under paragraph (1) is not to be treated as a breach of any restriction imposed by statute or otherwise.