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Regulation 27M Financial services, funds and brokering services relating to certain arrangementsF1F9

(1)

A person must not directly or indirectly provide financial services or funds in pursuance of or in connection with an arrangement whose object or effect is—

(a)

the import of F2cement, gold and gold jewellery which has been exported from Belarus on or after the relevant day, iron and steel products, mineral products, potash, relevant processed gold, rubber F3, wood or aluminium which—

(i)

originate in Belarus, or

(ii)

are consigned from Belarus;

(b)

the direct or indirect acquisition of F4cement, gold and gold jewellery which has been exported from Belarus on or after the relevant day, iron and steel products, mineral products, potash, relevant processed gold, rubber F5, wood or aluminium —

(i)

originating in Belarus, or

(ii)

located in Belarus;

(c)

the direct or indirect supply or delivery of F6cement, gold and gold jewellery which has been exported from Belarus on or after the relevant day, iron and steel products, mineral products, potash, relevant processed gold, rubber F7, wood or aluminium from a place in Belarus to a third country;

(F8d)

the direct or indirect supply or delivery of cement, gold and gold jewellery which has been exported from Belarus on or after the relevant day, mineral products, potash, relevant processed gold, rubber, wood or aluminium from a place in a non-UK country to a place in a different non-UK country where the cement, gold and gold jewellery which has been exported from Belarus on or after the relevant day, mineral products, potash, relevant processed gold, rubber, wood or aluminium originate in Belarus.

(2)

A person must not directly or indirectly provide brokering services in relation to any arrangements described in paragraph (1).

(3)

Paragraphs (1) and (2) are subject to Part 6 (Exceptions and licences).

(4)

A person who contravenes the prohibition in paragraph (1) commits an offence, but it is a defence for a person charged with that offence to show that the person did not know and had no reasonable cause to suspect that the financial services or funds (as the case may be) were provided in pursuance of or in connection with an arrangement mentioned in that paragraph.

(5)

A person who contravenes a prohibition in paragraph (2) commits an offence, but it is a defence for a person charged with that offence to show that the person did not know and had no reasonable cause to suspect that the brokering services were provided in relation to an arrangement mentioned in that paragraph.

(6)

In this regulation—

  • “non-UK country” means a country that is not the United Kingdom or the Isle of Man;

  • “third country” means a country that is not the United Kingdom, the Isle of Man or Belarus.

Annotations

Textual amendments

F1

Pt. 5 Chs. 2A-2C 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), 19

F2

Words in reg. 27M(1)(a) substituted (9.6.2023) by The Republic of Belarus (Sanctions) (EU Exit) (Amendment) Regulations 2023 (S.I. 2023/616), regs. 1(2), 9(e)(i)

F3

Words in reg. 27M(1)(a) substituted (16.5.2024) by The Sanctions (EU Exit) (Miscellaneous Amendments and Revocations) Regulations 2024 (S.I. 2024/643), regs. 1(2), 4(10)(a)

F4

Words in reg. 27M(1)(b) substituted (9.6.2023) by The Republic of Belarus (Sanctions) (EU Exit) (Amendment) Regulations 2023 (S.I. 2023/616), regs. 1(2), 9(e)(i)

F5

Words in reg. 27M(1)(b) substituted (16.5.2024) by The Sanctions (EU Exit) (Miscellaneous Amendments and Revocations) Regulations 2024 (S.I. 2024/643), regs. 1(2), 4(10)(b)

F6

Words in reg. 27M(1)(c) substituted (9.6.2023) by The Republic of Belarus (Sanctions) (EU Exit) (Amendment) Regulations 2023 (S.I. 2023/616), regs. 1(2), 9(e)(i)

F7

Words in reg. 27M(1)(c) substituted (16.5.2024) by The Sanctions (EU Exit) (Miscellaneous Amendments and Revocations) Regulations 2024 (S.I. 2024/643), regs. 1(2), 4(10)(c)

F8

Reg. 27M(1)(d) substituted (16.5.2024) by The Sanctions (EU Exit) (Miscellaneous Amendments and Revocations) Regulations 2024 (S.I. 2024/643), regs. 1(2), 4(10)(d)

F9

Words in reg. 27M heading substituted (5.7.2022) by The Republic of Belarus (Sanctions) (EU Exit) (Amendment) Regulations 2022 (S.I. 2022/748), regs. 1(2), 19(f)(i)

Notes on Chapter 2B

Textual amendments

F2

Pt. 5 Ch. 2B heading substituted (5.7.2022) by The Republic of Belarus (Sanctions) (EU Exit) (Amendment) Regulations 2022 (S.I. 2022/748), regs. 1(2), 19(a)