Regulation 15CA Provision of financial services relating to foreign exchange reserve and asset managementF1F2
A person (“P”) must not provide financial services to a person mentioned in paragraph (2) where—
the financial services are for the purpose of foreign exchange reserve and asset management; and
P knows, or has reasonable cause to suspect, that the financial services are provided to such a person.
The persons mentioned in this paragraph are—
the National Bank of Belarus,
the Ministry of Finance of Belarus,
a person owned or controlled directly or indirectly (within the meaning of regulation 7) by a person mentioned in sub-paragraphs (a) or (b), or
a person acting on behalf of or at the direction of a person mentioned in sub-paragraphs (a) or (b).
Paragraph (1) is subject to Part 6 (Exceptions and licences).
A person who contravenes the prohibition in paragraph (1) commits an offence.
Annotations
Textual amendments
- F1
Pt. 3 Ch. 2 inserted (14.10.2021 at noon) by The Republic of Belarus (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2021 (S.I. 2021/1146), regs. 1(2), 8
- F2
Reg. 15CA inserted (5.7.2022) by The Republic of Belarus (Sanctions) (EU Exit) (Amendment) Regulations 2022 (S.I. 2022/748), regs. 1(2), 13