The Treasury
have confirmed that as
suspected, the new Home
Information Pack Regulations will not be subject to
the money laundering regulations that govern the way
many other financial transactions are carried out.
It was
thought that the
HIP
legislation would demand further money laundering checks
were carried out as part of the process but that will
not now be the case following an announcement by Ed
Balls in what was his final act as a Treasury minister.
It was decided that the pack is only a marketing
initiative and not a procedure that involved a
transaction of any sort which would leave the process
open to abuse. A common sense approach for once seems to
have been taken on this issue.
