Regulation 24 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 14 to 18 (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. 24 in force at 23.7.2025, see reg. 1(2)