Regulation 3 Application of prohibitions and requirements outside the United KingdomI1

United Kingdom

(1)

A United Kingdom person may contravene a relevant prohibition by conduct wholly or partly outside the United Kingdom.

(2)

Any person may contravene a relevant prohibition by conduct in the territorial sea.

(3)

In this regulation, a “relevant prohibition” means any prohibition imposed by—

(a)

regulation 9(2) (confidential information),

(b)

Part 3 (Finance),

(c)

Part 5 (Trade), or

(d)

a condition of a Treasury licence or a trade licence.

(4)

A United Kingdom person may comply, or fail to comply, with a relevant requirement by conduct wholly or partly outside the United Kingdom.

(5)

Any person may comply, or fail to comply, with a relevant requirement by conduct in the territorial sea.

(6)

In this regulation, a “relevant requirement” means any requirement imposed—

(a)

by or under Part 7 (Information and records), or by reason of a request made under a power conferred by that Part, or

(b)

by a condition of a Treasury licence or a trade licence.

(7)

Nothing in this regulation is to be taken to prevent a relevant prohibition or a relevant requirement from applying to conduct (by any person) in the United Kingdom.

Annotations

Commencement

I1: Reg. 3 in force at 29.4.2021 at 5.00 p.m., see reg. 1(3)