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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 Economic Crime and Corporate Transparency Act 2023
2023 c. 56, s.175

Section 175 — Financial penalties: interaction with offences

Extent: E+W+S+N.I.

This version in force from 2024-03-04

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 .

In section 39 of the Economic Crime (Transparency and Enforcement) Act 2022 (financial penalties), in subsection (4)—

(a) for paragraph (a) (but not the “and” at the end) substitute— (a) no financial penalty may be imposed under the regulations on a person in respect of conduct amounting to an offence if— (i) proceedings have been brought against the person for that offence in respect of that conduct and the proceedings are ongoing, or (ii) the person has been convicted of that offence in respect of that conduct,;

(b) in paragraph (b), omit “or continued”.