Economic Crime (Transparency and Enforcement) Act 2022
 | It has been suggested that this article be merged into Economic Crime (Transparency and Enforcement) Act 2022. (Discuss) Proposed since March 2022. |
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| Long title | An Act to set up a register of overseas entities and their beneficial owners and require overseas entities who own land to register in certain circumstances; to make provision about unexplained wealth orders; and to make provision about sanctions. |
|---|---|
| Citation | 2022 Chapter 10 |
| Introduced by | Priti Patel |
| Territorial extent | England and Wales, Scotland, Northern Ireland |
| Dates | |
| Royal assent | 14 March 2022[1] |
| Commencement | See Commencement |
Status: Current legislation | |
| Text of statute as originally enacted | |
The Economic Crime (Transparency and Enforcement) Act 2022 ("the act") is a United Kingdom Act of Parliament which was fast-tracked through Parliament in response to the 2022 Russian invasion of Ukraine.[2] The act expands sanctions powers and sets out provisions in relation to financial crime.
Part 1[edit]
Part 1 of the act sets up a register of overseas entities, which includes information about their beneficial owners (sections 3 to 32), and which makes provisions designed to compel overseas entities to register if they currently own, or wish to own, land in the United Kingdom (sections 33 and 34).[3]
Part 2[edit]
Part 2 of the act sets out provisions relating to Unexplained wealth order.
Part 3[edit]
Part 3 of the act contains amendments to the imposition of monetary penalties under the Policing and Crime Act 2017 and amends the UK's sanctions framework under the Sanctions and Anti-Money Laundering Act 2018.[2]
References[edit]
- ↑ "Royal Assent". Parliamentary Debates (Hansard). 820. House of Commons. 14 March 2022. Search this book on
- ↑ 2.0 2.1 "Key changes to UK sanctions regime - The Economic Crime (Transparency and Enforcement) Act 2022". Unknown parameter
|url-status=ignored (help) - ↑ "Overview, Economic Crime (Transparency and Enforcement) Act 2022". Unknown parameter
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Others articles of the Topic United Kingdom : Ziggy Stardust
Others articles of the Topic Law : Public figure, ©, Solidus Bond, Smart contract
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