Regulation 46Z16G Financial services and funds relating to gold jewelleryF1F2
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—
the import of gold jewellery which on or after the relevant day—
originated in Russia, or
is exported from Russia;
the direct or indirect acquisition of gold which on or after the relevant day—
originated in Russia, or
is located in Russia,
with the intention of that gold jewellery entering the United Kingdom.
Paragraph (1) is subject to Part 7 (Exceptions and licences).
A person who contravenes a prohibition in paragraph (1) commits an offence, but it is a defence for a person charged with the offence of contravening paragraph (1) 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. 4H-4K inserted (21.7.2022) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 14) Regulations 2022 (S.I. 2022/850), regs. 1(2), 12
- F2
Pt. 5 Ch. 4JA inserted (29.10.2022) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 15) Regulations 2022 (S.I. 2022/1110), regs. 1(2)(b), 5
- F3
Reg. 46Z16G(1) substituted (16.12.2022) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 17) Regulations 2022 (S.I. 2022/1331), reg. 1(2)(b), Sch. 4 para. 5
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)