Article 13 Amendment of the Russia (Sanctions) (Overseas Territories) Order 2020

after sub-paragraph (e) insert—

“(ea)

in paragraph 9DA (interpretation of Part 1ZA)—

(i)

for the definition of “non-UK country” substitute—

• ““non-Territory country” means a country that is not the Territory;”;

(ii)

for the definition of “non-UK credit or financial institution” substitute—

• ““non-Territory credit or financial institution” has the same meaning as in regulation 17A;”;

(iii)

for the definition of “UK entity” substitute—

• ““Territory entity” means a person, other than an individual, incorporated or constituted under the law of the Territory”;

(eb)

in paragraph 9DB (divestment)—

(i)

in sub-paragraphs (1), (2), (3) and (4)(a), for “UK entity”, in each place it occurs, substitute “Territory entity”;

(ii)

in sub-paragraph (4)(b)(ii)—

(aa)

for “non-UK credit or financial institution” substitute “non-Territory credit or financial institution”;

(bb)

for “non-UK country” substitute “non-Territory country”;

(iii)

in sub-paragraph (4)(c), for “non-UK country” substitute “non-Territory country”;

(ec)

in paragraph 9DC (enabling others to divest themselves of funds or economic resources)—

(i)

in sub-paragraphs (1) and (3), for “UK entity”, in each place it occurs, substitute “Territory entity”;

(ii)

in sub-paragraph (4)(b)(ii)—

(aa)

for “non-UK credit or financial institution” substitute “non-Territory credit or financial institution”;

(bb)

for “non-UK country” substitute “non-Territory country”;

(iii)

in sub-paragraph (4)(c), for “non-UK country” substitute “non-Territory country”;”;

after sub-paragraph (k) insert—

“(ka)

in paragraph 9TA (other licensing purposes), for “Treasury” substitute “Governor”;”.