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The Global Anti-Corruption Sanctions Regulations 2021 in Scotland

S.I. 2021/488 · Made 23 April 2021 · Extends to United Kingdom

Up to date with all changes known to legislation.gov.uk, revised to 13 May 2026.

Sanctions

Approved by both Houses of Parliament

Made 23rd April 2021

Laid before Parliament at 11.00 a.m. on 26th April 2021

Coming into force at noon on 26th April 2021

The Secretary of State M1, in exercise of the powers conferred by sections 1(1)(c) and (3)(b), 3(1)(a) and (d)(i), 4, 9(2)(a), 10(2)(a) and (c), (3) and (4), 11(2) to (9), 15(2)(a) and (b), (3), (4)(b), (5) and (6), 16, 17(2) to (5) and (8), 21(1), 54(1) and (2), and 62(4) and (5) of the Sanctions and Anti-Money Laundering Act 2018 M2, and having decided, upon consideration of the matters set out in section 2(2) of that Act, that it is appropriate to do so, makes the following Regulations:C1C2

Annotations to the whole text

Marginal citations

M1

The power to make regulations under Part 1 of the Sanctions and Anti-Money Laundering Act 2018 (c.13) is conferred on an “appropriate Minister”. Section 1(9)(a) of that Act defines an “appropriate Minister” as including the Secretary of State.

M2

2018 c.13.

Modifications

C1

Regulations extended (Isle of Man) (with modifications) (29.4.2021) by The Global Anti-Corruption Sanctions (Isle of Man) Order 2021 (S.I. 2021/526), arts. 1(1), 2, Sch.

C2

Regulations extended (British overseas territories) (with modifications) (29.4.2021) by The Global Anti-Corruption Sanctions (Overseas Territories) Order 2021 (S.I. 2021/525), arts. 1(1), 2, Schs. 1, 2 (as amended (11.12.2025) by The Sanctions (Miscellaneous Amendments) (Overseas Territories) Order 2025 (S.I. 2025/1307), art. 1(1), Sch. 31)

Contents

  1. Part 1: General
  2. 1Citation and commencement
  3. 2Interpretation
  4. 3Application of prohibitions and requirements outside the United Kingdom
  5. 4Purposes
  6. Part 2: Designation of persons
  7. 5Power to designate persons
  8. 5AConditions for the designation of persons by name
  9. 6Designation criteria: meaning of “involved person”
  10. 7Meaning of “owned or controlled directly or indirectly”
  11. 8Notification and publicity where designation power used
  12. 9Confidential information in certain cases where designation power used
  13. Part 3: Finance
  14. 10Meaning of “designated person” in Part 3
  15. 11Asset-freeze in relation to designated persons
  16. 12Making funds available to designated persons
  17. 13Making funds available for benefit of designated persons
  18. 14Making economic resources available to designated persons
  19. 15Making economic resources available for benefit of designated persons
  20. 16Circumventing etc. prohibitions
  21. Part 3A: Director disqualification sanctions
  22. 16ADirector disqualification sanctions
  23. Part 4: Immigration
  24. 17Immigration
  25. Part 5: Exceptions and licences
  26. 18Finance: exceptions from prohibitions
  27. 19Finance: exception for authorised conduct in a relevant country
  28. 19AFinance: exception from prohibitions for required payments
  29. 20Exception for acts done for purposes of national security or prevention of serious crime
  30. 21Treasury licences
  31. 21ADirector disqualification licences
  32. 21BLicences: general provisions
  33. 22Finance: licensing offences
  34. 22ADirector disqualification: licensing offences
  35. 23Section 8B(1) to (3) of the Immigration Act 1971: directions
  36. Part 6: Information and records
  37. 24Finance: reporting obligations
  38. 24AFinance: reporting obligations for required payments
  39. 25“Relevant firm”
  40. 26Finance: powers to request information
  41. 27Finance: production of documents
  42. 28Finance: information offences
  43. 29Disclosure of information
  44. 29AFinance: disclosure to the Treasury
  45. 30Part 6: supplementary
  46. Part 7: Enforcement
  47. 31Penalties for offences
  48. 32Liability of officers of bodies corporate etc.
  49. 33Jurisdiction to try offences
  50. 34Procedure for offences by unincorporated bodies
  51. 35Time limit for proceedings for summary offences
  52. 36Application of Chapter 1 of Part 2 of the Serious Organised Crime and Police Act 2005
  53. Part 8: Supplementary and final provision
  54. 37Notices
  55. 38Revocations
  56. Signature
  57. Schedule 1: Rules for interpretation of regulation 7(2)
  58. 1Application of Schedule
  59. 2Joint interests
  60. 3Joint arrangements
  61. 4Calculating shareholdings
  62. 5Voting rights
  63. 6Paragraph 6
  64. 7Rights to appoint or remove members of the board
  65. 8Paragraph 8
  66. 9Shares or rights held “indirectly”
  67. 10Shares held by nominees
  68. 11Rights treated as held by person who controls their exercise
  69. 12Paragraph 12
  70. 13Rights exercisable only in certain circumstances etc.
  71. 14Rights attached to shares held by way of security
  72. Schedule 2: Treasury licences: purposes
  73. 1Interpretation
  74. 2Basic needs
  75. 3Legal services
  76. 4Maintenance of frozen funds and economic resources
  77. 5Extraordinary expenses
  78. 6Pre-existing judicial decisions etc.
  79. 7Extraordinary situation
  80. 8Prior obligations
  81. 9Diplomatic missions etc.
  82. 10Humanitarian assistance activity
  83. 11Insolvency
  84. Explanatory note