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Regulation 23 Designated persons: closure of representative officesI1I2

United Kingdom

(1)

This regulation applies to a designated person which is not an individual, and which has a representative office in the United Kingdom.

(2)

If the person was a designated person immediately before the relevant date, the person must close the office immediately.

(3)

If the person was not a designated person immediately before the relevant date, the person must close the office within the period of 90 days beginning with the date on which the person became a designated person.

(4)

Paragraphs (2) and (3) are subject to Part 9 (Exceptions and licences).

(5)

A person who fails to comply with a requirement in paragraph (2) and (3)commits an offence.

(6)

In this regulation, “the relevant date” means—

(a)

where regulations under section 56 of the Act provide that this regulation comes into force at a specified time on a day, that time on that day;

(b)

otherwise, the date on which this regulation comes into force.

Annotations

Commencement

I1

Reg. 23 not in force at made date, see reg. 1(2)

I2

Reg. 23 in force at 31.12.2020 by S.I. 2019/627, reg. 7(2); 2020 c. 1, Sch. 5 para. 1(1)