Section 60(1)

If paragraph (2) applies, the registering authority may suspend (for such period as it considers appropriate) or cancel— the registration of a money service business or a trust or company service provider in a register maintained under regulation 54; or the registration of an Annex 1 financial institution in a register maintained under regulation 55 (including the registration of an Annex 1 financial institution previously included in a register maintained under regulation 32 of the Money Laundering Regulations 2007) .

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