Corrected typographical errors and cross-reference numbers in the 2026 anti-money laundering regulations.
This document issues technical corrections to the Money Laundering and Terrorist Financing (Amendment) Regulations 2026.
It amends specific cross-references within regulation 15 and regulation 26 to ensure the legal text accurately refers to the intended sub-paragraphs and numbered lists.
These corrections apply to the same financial institutions and reporting entities regulated under the original 2026 instrument.
Arguments For
The document corrects typographical errors in the original Statutory Instrument to ensure internal consistency and legal clarity.
The changes align cross-references within the text to ensure that specified paragraphs (11) to (18) and relevant sub-paragraphs are correctly identified for enforcement and compliance purposes.
Proponents would argue that such administrative corrections are necessary to prevent misinterpretation of the law by regulated financial institutions.
Arguments Against
Legal practitioners might suggest that the need for a correction slip indicates a lack of initial scrutiny during the drafting of the primary amendment regulations.
Regulated entities may find the piecemeal updating of statutory instruments through correction slips difficult to track if they have already integrated the uncorrected text into their internal compliance manuals.
Page 4, regulation 15, inserted regulation 29(10): 'Paragraphs (11) to (17)' should read 'Paragraphs (11) to (18)';
This correction expands the range of referenced paragraphs in a newly inserted regulation 29(10).
It ensures that paragraph (18) is included in the specified group, which likely relates to administrative or procedural requirements for regulated firms.
Page 9, regulation 26(4)(a): 'substitute '(b)(i), (b)(ii) or (c)(i)'' should read 'substitute '(2)(b)(i), (b)(ii) or (c)(i)''; and
Page 9, regulation 26(4)(b), inserted sub-paragraph (aa): 'paragraph (1)(b)(iii) or (c)(ii);'' should read 'paragraph (2)(b)(iii) or (c)(ii);''.
These amendments fix the numbering within the instructions for modifying existing regulations.
They clarify that the referenced sub-paragraphs fall under paragraph (2) rather than paragraph (1) or a generic list, ensuring the legal requirements for reporting or due diligence are correctly cited.
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