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Regulation 46W Financial services and funds relating to Schedule 3D revenue generating goodsF1F2

(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 Schedule 3D revenue generating goods which—

(i)

originate in Russia, or

(ii)

are consigned from Russia; or

(b)

the direct or indirect acquisition of Schedule 3D revenue generating goods which—

(i)

originate in Russia, or

(ii)

are located in Russia,

with the intention of those goods entering the United Kingdom;

F3(c)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2)

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

(3)

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.

Annotations

Textual amendments

F1

Pt. 5 Chs. 4D-4G inserted (15.7.2022) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 11) Regulations 2022 (S.I. 2022/792), regs. 1(2), 8 (with reg. 13)

F2

Words in reg. 46W inserted (21.4.2023) by The Russia (Sanctions) (EU Exit) (Amendment) Regulations 2023 (S.I. 2023/440), regs. 1(2), 4(g)(i)

F3

Reg. 46W(1)(c) omitted (21.4.2023) by virtue of The Russia (Sanctions) (EU Exit) (Amendment) Regulations 2023 (S.I. 2023/440), regs. 1(2), 4(g)(ii)

Notes on the whole SI

Textual amendments

F1

Regulations extended (British overseas territories) (with modifications) (31.12.2020 immediately after both S.I. 2020/590 and S.I. 2020/951 have come into force) by The Russia (Sanctions) (Overseas Territories) Order 2020 (S.I. 2020/1571), arts. 1(1), 2, Schs. 1, 2 (as amended: (11.3.2021) by S.I. 2021/288, arts. 1(1), 2(2); (14.4.2022) by S.I. 2022/453, arts. 1(1), 3-38; (20.7.2022) by S.I. 2022/843, arts. 1(1), 3; (10.11.2022) by S.I. 2022/1167, arts. 1(1), 3-17; (15.12.2022) by S.I. 2022/1338, arts. 1(1), 3-10; (9.3.2023) by S.I. 2023/291, arts. 1(1), 3-9; (20.7.2023) by S.I. 2023/846, arts. 1(1), 3, 5-22; (30.9.2023) by S.I. 2023/846, arts. 1(2), 4; (14.3.2024) by S.I. 2024/370, arts. 1, 3-13; (3.10.2024) by S.I. 2024/987, arts. 1(1), 3-6; and (11.12.2025) by S.I. 2025/1307, art. 1(1), Sch. 15)

Notes on Chapter 4G

Textual amendments

F2

Words in Pt. 5 Ch. 4G heading inserted (21.4.2023) by The Russia (Sanctions) (EU Exit) (Amendment) Regulations 2023 (S.I. 2023/440), regs. 1(2), 4(a)