Regulation 49 Transitional provision: designationsI1

United Kingdom

(1)

This regulation applies to a person (“P”) who, immediately before the relevant date, was designated by the Secretary of State under regulation 5 (power to designate persons) of the 2020 Regulations for the purposes of—

(a)

regulations 11 to 15 (asset-freeze etc.) of those Regulations,

(b)

regulation 16A (director disqualification) of those Regulations, or

(c)

regulation 17 (immigration) of those Regulations.

(2)

P is to be treated on and after the relevant date as if P had been designated by the Secretary of State under regulation 5(1) (power to designate persons by name) for the purposes of (as the case may be)—

(a)

regulations 14 to 18 (asset-freeze etc.),

(b)

regulation 20 (director disqualification), or

(c)

regulation 21 (immigration).

(3)

Any reference in a provision mentioned in paragraph (4) to the date on which P became a designated person is a reference to the date on which P was designated by the Secretary of State under regulation 5 of the 2020 Regulations.

(4)

The provisions referred to in paragraph (3) are—

(a)

regulation 6(6) (conditions for the designation of persons by name),

(b)

regulation 22(5) (finance: exceptions from prohibitions), and

(c)

paragraph 8(a) of Schedule 2 (Treasury licences: purposes).

Annotations

Commencement

I1: Reg. 49 in force at 15.10.2026, see reg. 1(2)