Regulation 8 Treasury Licences

in paragraph (1), for “and 18A (provision of foreign reserve and asset management services)” substitute “, 18A (provision of foreign reserve and asset management services) and 18B (investments in relation to Russia)”;

in paragraph (1A), for “regulations 11 to 17A” substitute “regulations 11 to 18B”;

after sub-paragraph (b) of paragraph (2) omit “and”;

in paragraph 2(c) for “Schedule 5” substitute “Schedule 5, and”;

after sub-paragraph (c) insert—

“(d)

in the case of acts which would otherwise be prohibited by regulation 18B (investments in relation to Russia), where the Treasury consider that it is appropriate to issue the licence for a purpose set out in Part 3 of Schedule 5.”.