Section 27(7C)

An art market participant must also apply customer due diligence measures— in relation to any trade in a work of art (within the meaning given in regulation 14), when the firm or sole practitioner carries out, or acts in respect of, any such occasional transaction, whether executed in a single operation or in several operations which appear to be linked, whose value amounts to £10,000 or more; in relation to the storage of a work of art (within the meaning given in regulation 14), when it is the operator of a freeport and the value of the works of art so stored for a person, or series of linked persons, amounts to £10,000 or more.

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