Regulation 7 Amendments to regulation 19 (sale or purchase of bonds)

In regulation 19 (sale or purchase of bonds)—

(a)

in paragraph (1)—

(i)

for “Syrian bonds” substitute “Assad regime bonds”;

(ii)

for “Syrian regime” substitute “Assad regime”;

(iii)

for “after 19th January 2012” substitute “between 19th January 2012 and 8th December 2024”;

(b)

in paragraph (2)—

(i)

for “Syrian bonds” substitute “Assad regime bonds”;

(ii)

for “Syrian regime” substitute “Assad regime”;

(iii)

for “after 19th January 2012” substitute “between 19th January 2012 and 8th December 2024”;

(c)

in paragraph (3)—

(i)

for “issue Syrian bonds” substitute “sell or purchase Assad regime bonds”;

(ii)

for “Syrian regime” substitute “Assad regime”;

(d)

in paragraph (4)—

(i)

omit sub-paragraph (a);

(ii)

for sub-paragraph (b) substitute “a Syrian credit or financial institution”;

(iii)

in sub-paragraph (c) omit “(a) or”;

(iv)

in sub-paragraph (d) omit “(a),”;

(e)

in paragraph (7)—

(i)

for ““Syrian bonds”” substitute ““Assad regime bonds””;

(ii)

for “Syrian regime” substitute “Assad regime”;

(f)

after paragraph (7) insert—

“(8)

For the purposes of this regulation, “Syrian credit or financial institution” means—

(a)

a credit or financial institution domiciled in Syria; or

(b)

a branch or subsidiary, wherever located, of a credit or financial institution domiciled in Syria.”.