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Amendment of section 24 of Act of 2010
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4. Section 24(1) of the Act of 2010 is amended by the substitution of the following for the definition of “occasional transaction”:
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“’occasional transaction’ means, in relation to a customer of a designated person where the designated person does not have a business relationship with the customer, a single transaction, or a series of transactions that are or appear to be linked to each other, and—
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(a) in a case where the designated person concerned is a person referred to in section 25(1)(h), that the amount of money or the monetary value concerned—
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(i) paid to the designated person by the customer, or
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(ii) paid to the customer by the designated person,
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is in aggregate not less than €2,000,
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(b) in a case where the transaction concerned consists of a transfer of funds (within the meaning of Regulation (EC) No. 1781/2006 1
) that the amount of money to be transferred is in aggregate not less than €1,000, and
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(c) in a case other than one referred to in paragraphs (a) or (b), that the amount or aggregate of amounts concerned is not less than €15,000;”.
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1 OJ L 345, 8.12.2006, p.1 |
