[PDF] Exchange of notes between the UK and Belgium

Who owns a share in an exchange of notes agreement?

Under the Exchange of Notes agreements, this is defined as “any natural person (s) who ultimately owns or controls a corporate or legal entity through direct or indirect ownership of more than 25% of the shares or voting rights or ownership interests in that entity, or through control via other means”.

How effective are exchange of notes arrangements?

The Exchange of Notes Arrangements have proven highly valuable to UK law enforcement agencies. The Arrangements have increased in effectiveness since their introduction as initial administrative challenges and misunderstandings have been resolved.

What is the exchange of notes (Eon) for information sharing?

These arrangements were called the Exchange of Notes ( EoN) for Information Sharing and came into force on 1 July 2017. This 18 month Statutory Review is required by section 445A of the UK’s Proceeds of Crime Act 2002, as amended by section 9 of the Criminal Finances Act 2017, to assess the effectiveness of the arrangements.