Regulation 19 Finance: exception for authorised conduct in a relevant countryI1

United Kingdom

(1)

Where a person's conduct in a relevant country would, in the absence of this regulation, contravene a prohibition in any of regulations 11 to 15 (asset-freeze etc.) (“the relevant prohibition”), the relevant prohibition is not contravened if the conduct is authorised by a licence or other authorisation which is issued—

(a)

under the law of the relevant country; and

(b)

for the purpose of disapplying a prohibition in that jurisdiction which corresponds to the relevant prohibition.

(2)

In this regulation, “relevant country” means—

(a)

any of the Channel Islands;

(b)

the Isle of Man;

(c)

any British overseas territory.

Annotations

Commencement

I1: Reg. 19 in force at 26.4.2021 at noon, see reg. 1(2)