Citation, extent and interpretation

1.—(1) These Regulations may be cited as the Economic Crime and Corporate Transparency Act 2023 (Commencement No. 3) Regulations 2024.

(2) These Regulations extend to England and Wales, Scotland and Northern Ireland except for regulation 2 which extends to Scotland.

(3) In these Regulations, “the Act” means the Economic Crime and Corporate Transparency Act 2023.

Commencement on 7th November 2024

2.  Section 180 of, and Schedule 9 to, the Act (cryptoassets: civil recovery) come into force on 7th November 2024, so far as not already in force.

Commencement on 1st September 2025

3.  Sections 199 to 206 of, and Schedule 13 to, the Act (failure to prevent fraud) come into force on 1st September 2025, so far as not already in force.

Explanatory Note

(This note is not part of the Regulations)

These Regulations are the third commencement regulations made under the Economic Crime and Corporate Transparency Act 2023 (c. 56). Regulation 2 brings measures relating to civil recovery of cryptoassets, which are already in force in England and Wales and Northern Ireland but only partially in force in Scotland, fully into force on 7th November 2024. Regulation 3 brings measures creating a new offence of failing to prevent fraud fully into force in all of the United Kingdom on 1st September 2025.

NOTE AS TO EARLIER COMMENCEMENT Regulations

(This note is not part of the Regulations)

The following provisions of the Economic Crime and Corporate Transparency Act 2023 (c. 56) (“the Act”) have been brought into force by commencement Regulations made before the date of these Regulations.