{
  "url": "https://openlegislation.uk/republic-of-belarus-sanctions-eu-exit-amendment-regulations-2022/regulation-32",
  "json_url": "https://openlegislation.uk/republic-of-belarus-sanctions-eu-exit-amendment-regulations-2022/regulation-32.json",
  "legislation": "uksi/2022/748",
  "legislation_title": "The Republic of Belarus (Sanctions) (EU Exit) (Amendment) Regulations 2022",
  "legislation_url": "https://openlegislation.uk/republic-of-belarus-sanctions-eu-exit-amendment-regulations-2022",
  "path": "regulation/32",
  "kind": "regulation",
  "number": "32",
  "heading": "Exceptions relating to loans and credit arrangements",
  "text": "In regulation 31A (exceptions relating to loans and credit arrangements)—\n(a) in paragraph (1), for sub-paragraphs (a) and (b) substitute—\n“(a) a relevant loan that has a specific and documented objective of making emergency funds available to meet applicable solvency or liquidity criteria for a relevant subsidiary;\n(b) a relevant loan consisting of a drawdown or disbursement made under an arrangement entered into before—\n(i) in the case of a category A loan, the date on which the Amendment Regulations 2021 came into force;\n(ii) in the case of a category B loan or a category C loan, the date on which the Amendment Regulations 2022 came into force,\nwhere the conditions in paragraph (2) are met.”;\n(b) in paragraph (2)—\n(i) for “paragraph 1(b)” substitute “paragraph (1)(c)”;\n(ii) for paragraph (a)(i) substitute—\n“(i) were agreed before—\n(aa) in the case of a category A loan, the date on which the Amendment Regulations 2021 came into force, or\n(bb) in the case of a category B loan or a category C loan, the date on which the Amendment Regulations 2022 came into force;”;\n(c) for paragraph (3) substitute—\n“(3) In this regulation—\n(a) “category A loan”, “category B loan” , “category C loan” and “relevant loan” have the meanings given to them in regulation 15B;\n(b) “relevant subsidiary” means a person, other than an individual, which is—\n(i) incorporated or constituted under the law of any part of the United Kingdom, and\n(ii) majority owned (within the meaning of regulation 15D(3)) by a person, other than an individual, that is connected with Belarus.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2022/748/regulation/32",
    "retrieved_at": "2026-10-28T21:57:59.448677+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}