Minister for Security (): The Proceeds of Crime Act 2002 (POCA) contains a
comprehensive package of measures designed to make the recovery
of unlawfully held assets more effective. The operation of
certain powers within POCA are subject to guidance in various
Codes of Practice issued by the Home Secretary, the Attorney
General and the Advocate General for Northern Ireland, the
Department of Justice Northern Ireland and Scottish Ministers.
A new Code of Practice needs to be made to reflect possible
changes made to POCA by the Economic Crime and Corporate
Transparency Bill (ECCT Bill).[1] Subject to its commencement,
the ECCT Bill will make amendments to Part 7 to POCA to create
additional Information Order powers that will assist the National
Crime Agency (NCA) with operational analysis of information that
is relevant to money laundering or suspected money laundering
and/or terrorist financing or suspected terrorist financing. It
will also assist the NCA with strategic analysis identifying
trends or patterns in the conduct of money laundering or
terrorist financing, or systemic deficiencies or vulnerabilities
which have been or are being likely to be, exploited for the
purposes of money laundering or terrorist financing. For clarity,
the title of ‘Further Information Orders’ in this part of POCA,
will be replaced with ‘Information Orders’.
It is also intended that the additional Information Order powers
will be replicated in Part III to the Terrorism Act 2000 (TACT).
POCA and TACT provide that before a Code of Practice is issued, I
must consider any representations made, modify the Code as
appropriate, and subsequently lay the Code before Parliament for
approval.
I am today launching a consultation on the following Code of
Practice:
- Code of Practice issued under section 339ZL to the Proceeds
of Crime Act 2002 and section 22F to the Terrorism Act 2000 about
certain Information Orders
A copy of the consultation document and the draft Code of
Practice will be placed in the libraries of both Houses and
published on GOV.UK.
Following this consultation, I intend to lay a statutory
instrument to issue this Code of Practice under the Proceeds of
Crime Act 2002 (POCA) and the Terrorism Act 2000 (TACT) to
reflect changes as a result of the Economic Crime and Corporate
Transparency Bill.
[1] This is subject to powers being inserted into POCA by the
Economic Crime and Corporate Transparency Bill being passed by
Parliament and receiving Royal Assent
