Regulation 32 Exception for authorised conduct in a relevant countryI1

United Kingdom

(1)

Where a person's conduct in a relevant country would, in the absence of this regulation, contravene a prohibition in any of regulations 12 to 16 (asset-freeze etc.) or Chapters 2 and 3 of Part 5 (Trade) (“the relevant prohibition”), the relevant prohibition is not contravened if the conduct is authorised by a licence or other authorisation which is issued—

(a)

under the law of the relevant country, and

(b)

for the purpose of disapplying a prohibition in that jurisdiction which corresponds to the relevant prohibition.

(2)

In this regulation, “relevant country” means—

(a)

any of the Channel Islands;

(b)

the Isle of Man;

(c)

any British overseas territory.

(3)

Nothing in this regulation affects the application of a prohibition in a case where it would be incompatible with a UN obligation for the prohibition not to apply.

Annotations

Commencement

I1: Reg. 32 in force at 31.12.2020 by S.I. 2020/1514, reg. 15(2)