Acts & Regulations

Question 1

War Damage Act 1941 & 1943

Answer 1

• Any damage caused by war excluded as should be dealt with by the government

Question 1

Northern Ireland (Emergency Provisions) Act 1973

Answer 1

An unlawful association, in terms of this exclusion means an organisation involved in terrorism & any organisation defined in the Northern Ireland (Emergency Provisions) Act 1973

Question 2

The Supply of Goods (Implied Terms) Act 1973

Answer 2

Some contractual terms are implied by law

Question 3

Public Order Act 1986

Answer 3

Defines Riot of comprising of the following elements:
1. 12 + present together use or threaten unlawful violence for a common purpose & the conduct of them cause person to fear for their safety.
2. Immaterial if 12 + use or threaten violence simultaneously
3. Common purpose may be inferred by conduct
4. No person of reasonable firmness need be present
5. Can be committed in public & private

Question 4

Theft Act 1968

Answer 4

defines theft as “A person guilty of theft if he dishonestly appropriates property belonging to another with the intention of permanently depriving the other of it.”

Question 5

Financial Services Act 2012

Answer 5

Definition of financial crime as any offence involving:
1. Fraud or dishonesty
2. Misconduct in or misuse info relating to a financial crime
3. Handling the proceeds of a crime or financing terrorism

Question 6

Fraud Act 2006

Answer 6

Stated fraud can arise from four methods:
1. By misrepresentation
2. By failing to disclose information
3. By abuse of position
4. By making or supplying items for use in frauds

Question 7

Money Laundering Regulations 2007 - what businesses do they cover?

Answer 7

• Casinos
• Independent Legal Professions
• Accountants, tax advisors, auditors
• Estate Agents
• Financial and Credit Businesses

Question 8

Money Laundering Regulations 2007 - Businesses must have systems & processes in place to what?

Answer 8

• Assess the risk of the business being used by criminals to launder money
• Monitor customer activities & report suspicious activity
• Retain all documents that relate to financial transactions, customers identification, risk assessment and management procedures.
• Ensure staff are aware of the regulations and provide necessary training
• Check customer ID’S
• Monitor customer activity and report any suspicious activity