{
  "url": "https://openlegislation.uk/russia-sanctions-eu-exit-amendment-no-2-regulations-2022/regulation-5",
  "json_url": "https://openlegislation.uk/russia-sanctions-eu-exit-amendment-no-2-regulations-2022/regulation-5.json",
  "legislation": "uksi/2022/194",
  "legislation_title": "The Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2022",
  "legislation_url": "https://openlegislation.uk/russia-sanctions-eu-exit-amendment-no-2-regulations-2022",
  "path": "regulation/5",
  "kind": "regulation",
  "number": "5",
  "heading": "Dealing with transferable securities or money-market instruments",
  "text": "In regulation 16 (dealing with transferable securities or money-market instruments)—\n(a) after paragraph (4) insert—\n“(4A) A person (“P”) must not, directly or indirectly, deal with a transferable security or money-market instrument falling within paragraph (4B) if P knows, or has reasonable cause to suspect, that P is dealing with such a transferable security or money-market instrument.\n(4B) A transferable security or money-market instrument falls within this paragraph if it has a maturity exceeding 30 days and is issued on or after 1st March 2022 by—\n(a) 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) owned by a person falling within Schedule 2; or\n(b) a person, other than an individual, acting on behalf or at the direction of a person within sub-paragraph (a).\n(4C) A person (“P”) must not, directly or indirectly, deal with a transferable security or money-market instrument falling within paragraph (4D) if P knows, or has reasonable cause to suspect, that P is dealing with such a transferable security or money-market instrument.\n(4D) A transferable security or money-market instrument falls within this paragraph if it is issued on or after 1st March 2022 by—\n(a) a person connected with Russia, which is not—\n(i) a person falling within Schedule 2,\n(ii) a person, other than an individual, which on 1st March 2022 is domiciled in a country other than Russia, or\n(iii) a person, other than an individual, which on 1st March 2022 is a branch or subsidiary, wherever located, of a person mentioned in paragraph (ii);\n(b) a person, other than an individual, which is owned by a person falling within sub-paragraph (a); or\n(c) a person, other than an individual, acting on behalf or at the direction of a person within sub-paragraph (a) or sub-paragraph (b).\n(4E) A person (“P”) must not, directly or indirectly, deal with a transferable security or money-market instrument falling within paragraph (4F) if P knows, or has reasonable cause to suspect, that P is dealing with such a transferable security or money-market instrument.\n(4F) A transferable security or money-market instrument falls within this paragraph if it is issued on or after 1st March 2022 by, or on behalf of, the Government of Russia.”;\n(b) for paragraph (5) substitute—\n“(5) Paragraphs (1), (3), (4A), (4C) and (4E) are subject to Part 7 (Exceptions and licences).”;\n(c) in paragraph (6), for “(1) or (3)” substitute “(1), (3), (4A), (4C) and (4E)”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2022/194/regulation/5",
    "retrieved_at": "2026-10-28T22:03:37.810816+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."
}