Regulation 3 Amendments to Chapter 6B of Part 5 (trade: professional and business services)

In regulation 54B^f1, after paragraph (g), insert—

“(ga)

“legal advisory services” has the meaning given in paragraph 8A of Schedule 3J;”.

After regulation 54C, insert—

“Legal advisory services

54D.

(1)

A person must not directly or indirectly provide legal advisory services to any person who is not a United Kingdom person in relation to, or in connection with, any activity (“the relevant activity”) which satisfies the condition in paragraph (2), whether or not those services are provided to a person in the United Kingdom.

(2)

The condition is that the relevant activity would—

(a)

be prohibited under any of regulations 11 to 18C of Part 3 (Finance)^f2, Chapters 2 to 6 or Chapter 6B of Part 5 (Trade)^f3 if—

(i)

the relevant activity was done by a United Kingdom person, or

(ii)

the relevant activity was taking place in the United Kingdom, or

(b)

contravene regulation 19 or 55 if—

(i)

the relevant activity was done by a United Kingdom person, or

(ii)

the relevant activity was taking place in the United Kingdom.

(3)

Paragraph (1) is subject to Part 7 (exceptions and licences).

(4)

A person who contravenes any of the prohibitions in paragraph (1) (“P”) commits an offence, but it is a defence for P to show that P did not know and had no reasonable cause to suspect that the relevant activity satisfied the condition in paragraph (2).”.