Section 329(2D)

A person (“P”) who does an act mentioned in subsection (1) does not commit an offence under that subsection if— P is carrying on business in the regulated sector that is not excluded business, P does the act, in the course of that business— in transferring or handing over to the customer or client property of, or owing to, a customer or client, and for the purposes of the termination of P’s business relationship with the customer or client, the total value of the criminal property so transferred or handed over to the customer or client by P for those purposes is less than the threshold amount determined under section 339A for the act, and before the act is done, P has complied with the customer due diligence duties.

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Source: legislation.gov.uk · retrieved 2026-09-04