The Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) (Amendment) Ordinance, 2023 will come into force on 25th August 2023 bringing into effect Schedule 7 of The Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law 1999 (the "Schedule").
The Schedule established the office of the Administrator of Accountants (the "Administrator") and requires persons involved in accountancy to notify the Administrator with such information as may be specified including, but not limited to, information relating to the minimum standards test.
An accountancy business, and those persons who:
- are a partner, chief executive, or director of an accountancy business, or
- any person participating in or in any concerned (directly or indirectly) in the management of an accountancy business where that person also has authority to bind the business, or
- a money laundering reporting officer or a money laundering compliance officer, or a nominated officer of an accountancy business, or
- a relevant person (the ultimate beneficial owner of an accountancy business)
are required to notify the Administrator:
- before they become a person involved in accountancy or otherwise become a relevant person, or
- if in business as an accountancy business or otherwise a relevant person, within 14 days of the Schedule coming into force.
Guidance on the initial and ongoing notification requirements can be found here: Accountants - Guidance on notification requirements [593kb]
Notifications are made via online forms which can be found through the below links:
An accountancy business or person involved in accountancy who has made an initial notification must provide the Administrator with information relating to the minimum standards test within 21 days of being requested to do so and notify the Administrator within 21 days after being convicted of a specified offence or any other change in respect of the information previously provided.
If you require any further information, please contact the Registry on 01481 222800 or email@example.com.