18. Related amendments to Variable Capital Companies Act 2018

In the Variable Capital Companies Act 2018 —

(a)

in section 2(1), after the definition of “prohibition order”, insert —“ “proliferation financing” means the financing of the proliferation of weapons of mass destruction;”;

(b)

in the following provisions, replace “AML/CFT” wherever it appears with “AML/CFT/CPF”:Section 85(11)(b)Section 86(2)Section 87(a), (b)(iii) and (c)Section 88Section 91(1);

(c)

in section 86(1), in the definitions of “AML/CFT authority”, “supervision” and “supervisory action”, replace “AML/CFT authority” with “AML/CFT/CPF authority”; (d)in section 86(1), in the definitions of “AML/CFT requirement”, “applicable offence”, “domestic authority”, “employee”, “enforcement action”, “foreign country”, “information”, “investigation” and “public authority”, replace “AML/CFT requirement” with “AML/CFT/CPF requirement”; and

(e)

in the following provisions, in the section heading, replace “AML/CFT” with “AML/CFT/CPF”:Section 88Section 91.