Regulation 24 Business arrangements with designated personsI1I2
United Kingdom
(1)
A person (“P”) must not participate, directly or indirectly, in business arrangements, including joint ventures, with a person who P knows to be, or has reasonable cause to suspect is—
(a)
a designated person, or
(b)
acting on behalf of or at the direction of a designated person.
(2)
Paragraph (1) is subject to Part 9 (Exceptions and licences).
(3)
A person who contravenes the prohibition in paragraph (1) commits an offence.
Annotations
Commencement
- I1
Reg. 24 not in force at made date, see reg. 1(2)
- I2
Reg. 24 in force at 31.12.2020 by S.I. 2019/627, reg. 7(2); 2020 c. 1, Sch. 5 para. 1(1)