UK Offence Report

The Cross-Border Payments in Euro Regulations 2003 (revoked)

UK Statutory Instrument 2003 No. 488 — creates 1 criminal offence.

1offences created
0recorded in force
0revoked
Made
4 March 2003
In force from
Not determined
Extent
Not stated
Subject
Corporate, financial services, company law, employment, charity, electoral and tax
Made under
European Communities Act 1972

Explanatory note

(This note is not part of the Regulations) — published with the instrument by the department that made it. © Crown copyright, reused under the Open Government Licence v3.0.

These Regulations are made pursuant to the United Kingdom’s obligation under Article 7 of Regulation (EC) No. 2560/2001 of the European Parliament and of the Council (referred to in the Regulations as the “Community Regulation”), laying down rules on cross-border payments in euro, to ensure that compliance with the Community Regulation is guaranteed by effective, proportionate and deterrent sanctions. Regulation 3 makes provision for civil proceedings to be brought in cases where an institution breaches Article 3 of the Community Regulation. Regulation 4 creates criminal offences, in respect of breaches of the provisions of Articles 4 and 5 of the Community Regulation, and sets out the maximum penalties which can be imposed on persons convicted of those offences. Regulation 5 provides for directors and managers of companies, partners of partnerships and other similar persons to be liable to conviction if these offences are committed by the company, partnership or other body with their consent or connivance or as a result of their neglect.

Offences created by this instrument

What Parliament said about it

Hansard was searched for this instrument by name and returned nothing. That is the ordinary outcome: an instrument laid under the negative procedure is usually never debated, and becomes law without a word said about it in either House.

How Parliament handled it

Parliament's Statutory Instruments service records procedure from May 2017 onwards, and this instrument predates it. That is a limit of the source, not a statement that nothing happened.

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