Proceeds of Crime Act 2002 and Renewables: Difference between pages

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imported>Doug Williamson
(Create page. Source: The Treasurer, December 2019, p30.)
 
imported>Doug Williamson
(Expand definition - source - UK Green Finance Allocation Report 2022, p14.)
 
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''Law - financial crime - UK''.
''Energy''.


(POCA).
Renewables is an abbreviation for renewable sources of energy.


The Proceeds of Crime Act makes it a criminal offence to:
*Handle property that represents the proceeds of criminal conduct, or to
*Be involved in arrangements that relate to such property.


Renewables:


:<span style="color:#4B0082">'''''Arrangements and disclosure'''''</span>
*Are not depleted by being used; and
*Cause substantially less environmental damage than fossil fuels.


:"What that means in practice is that, unless your business handles others' assets for them, the key POCA provision to be aware of is likely to be the 'arrangements' offence, which can create problems for those who finance or play another, even peripheral, part in a transaction that they suspect may involve the proceeds of 'criminal conduct'.


:Lest that prospect seem remote, it's worth bearing in mind that this can include, for instance, a pecuniary advantage arising from tax evasion, or a failure to obtain a proper licence, or even conduct that is lawful overseas, but would be unlawful if it happened here (such as Canadian cannabis sales).
Renewables include water, wind and solar power.


:Fortunately, POCA provides for the scenario where a business finds itself in circumstances where a suspicion has arisen and wants either to exit the transaction, or go ahead with it.
Renewables are sometimes known as ''alternative energy'', being an alternative to fossil fuels.
 
:Depending on the circumstances, the answer may be to make a disclosure to, and request consent from, the National Crime Agency (NCA)."
 
:''The Treasurer magazine, December 2019, p30 - John Binns, Partner, Business Crime and Corporate Regulatory, BCL Solicitors LLP.''




== See also ==
== See also ==
* [[Europol]]
* [[Biofuel]]
* [[FBI]]
* [[Clean energy]]
* [[Financial Conduct Authority]]
* [[Corporate social responsibility]]
* [[Joint Money Laundering Intelligence Taskforce]]
* [[Fossil fuel]]
* [[National Economic Crime Centre]]
* [[Green bond]]
* [[Prudential Regulation Authority]]
* [[Green finance]]
* [[Risk management]]
* [[Hydrogen]]
* [[IOC]]
* [[Peak demand]]
* [[Peak oil]]
* [[Power purchase agreement]]


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[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:The_business_context]]
[[Category:Corporate_finance]]
[[Category:Investment]]
[[Category:Long_term_funding]]
[[Category:Compliance_and_audit]]
[[Category:Compliance_and_audit]]
[[Category:Ethics]]
[[Category:Ethics]]
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[[Category:Risk_reporting]]
[[Category:Risk_reporting]]
[[Category:Financial_products_and_markets]]
[[Category:Financial_products_and_markets]]
[[Category:Trade_finance]]

Latest revision as of 09:24, 4 January 2023

Energy.

Renewables is an abbreviation for renewable sources of energy.


Renewables:

  • Are not depleted by being used; and
  • Cause substantially less environmental damage than fossil fuels.


Renewables include water, wind and solar power.

Renewables are sometimes known as alternative energy, being an alternative to fossil fuels.


See also

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