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Section 38(2)

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 · United Kingdom

Paragraph (1) does not apply to any transaction which consists of the redemption in cash, or a cash withdrawal, of the monetary value of the electronic money, where— the amount redeemed exceeds £50; or in the case of remote payment transactions, the amount redeemed exceeds £50 per transaction.

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