Regulation 4 Amendment of the Democratic Republic of the Congo (Sanctions) (EU Exit) Regulations 2019

The Democratic Republic of the Congo (Sanctions) (EU Exit) Regulations 2019^f1 are amended as follows.

In regulation 40 (“relevant firm”), for “10,000 euros”, in each place it occurs, substitute “£10,000”.

Omit regulation 55 (trade offences in CEMA: modification of penalty).

In regulation 64 (notices)—

In Schedule 2 (Treasury licences: purposes), for paragraph 9 (prior obligations), substitute—

“Prior obligations

9

To enable the satisfaction of an obligation of a designated person (whether arising under a contract, other agreement or otherwise), provided that—

(a)

the obligation arose before the date on which the person became a designated person, and

(b)

no payments are made to another designated person, whether directly or indirectly.”