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Regulation 41 Transitional provision: prior obligations etcI1I2

United Kingdom

(1)

Where—

(a)

a person was named in Annex Ⅰ of the EU Guinea-Bissau Regulation immediately before the relevant date, and

(b)

the person is a designated person immediately before the relevant date,

any reference in a provision mentioned in paragraph (2) to the date on which a person became a designated person is a reference to the date on which the person was named in that Annex.

(2)

The provisions referred to in paragraph (1) are—

(a)

regulation 18(5) (finance: exception from prohibitions), and

(b)

F1paragraph 9(a) of Schedule 2 (Treasury licences: purposes).

(3)

In paragraph (1)—

  • “designated person” has the same meaning as it has in Part 3 (Finance);

  • “the relevant date” means—

    1. (a)

      where regulations under section 56 of the Act provide that Part 3 comes into force at a specified time on a day, that time on that day;

    2. (b)

      otherwise, the date on which Part 3 comes into force.

Annotations

Textual amendments

F1

Word in reg. 41(2)(b) substituted (5.12.2024) by The Sanctions (EU Exit) (Miscellaneous Amendments) (No. 2) Regulations 2024 (S.I. 2024/1157), regs. 1(2), 8(11)

Commencement

I1

Reg. 41 not in force at made date, see reg. 1(2)

I2

Reg. 41 in force at 31.12.2020 by S.I. 2019/627, reg. 10(2); 2020 c. 1, Sch. 5 para. 1(1)

Notes on the whole SI

Textual amendments

F1

Regulations extended (with modifications) (31.12.2020 immediately after S.I. 2020/590 and S.I. 2020/951 come into force) by The Republic of Guinea-Bissau (Sanctions) (Overseas Territories) Order 2020 (S.I. 2020/1587), regs. 1, 2, Schs. 1, 2 (as amended (11.12.2025) by The Sanctions (Miscellaneous Amendments) (Overseas Territories) Order 2025 (S.I. 2025/1307), art. 1(1), Sch. 8)