Regulation 20 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 12 to 16 (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, or

(c)

any British overseas territory.

F1(3)

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Annotations

Textual amendments

F1: Reg. 20(3) omitted (3.10.2024) by virtue of The Mali (Sanctions) (EU Exit) (Amendment) and Sanctions (Miscellaneous Amendments) Regulations 2024 (S.I. 2024/946), regs. 1(2), 2(6)

Commencement

I1: Reg. 20 in force at 31.12.2020 by S.I. 2020/1514, reg. 13(2)