Skip to main content

SponsoredBuild your website with Vincony

Disclaimer: This is not legal advice. Legislation and case law change. Always consult a qualified solicitor for your specific situation.

UK Law Reference
All sections of Financial Services Act 2021
2021 c. 22, s.33

Section 33 — Forfeiture of money: electronic money institutions and payment institutions

This version in force from 2021-04-29

Snapshot: 2026-08-24

Reproduced from legislation.gov.uk (Crown Copyright, Open Government Licence v3.0). Amendments made after 2026-08-24 may not be reflected — always check the official text .

(1) Schedule 12 amends provisions in the Anti-terrorism, Crime and Security Act 2001 and the Proceeds of Crime Act 2002 about the forfeiture of money so that they apply to money held in accounts maintained with electronic money institutions and payment institutions.

(2) Subject to subsection (3), the amendments made by that Schedule are to be treated as having come into force at the same time as the provisions they amend.

(3) Subsection (2) does not apply to the amendments of Part 5 of the Proceeds of Crime Act 2002 as they extend to Northern Ireland.

(4) Regulations made, before this section comes into force, under—

(a) paragraph 10X of Schedule 1 to the Anti-Terrorism, Crime and Security Act 2001, or

(b) section 303Z10 of the Proceeds of Crime Act 2002,

apply (and are to be treated as having always applied) for the purposes of notices relating to money held in accounts maintained with electronic money institutions and payment institutions, as well as for the purposes of notices relating to money held in accounts maintained with banks and building societies.