Regulation 3 Application of prohibitions and requirements outside the United KingdomI1

United Kingdom

(1)

A United Kingdom person may contravene a relevant prohibition by conduct wholly or partly outside the United Kingdom.

(2)

Any person may contravene a relevant prohibition F1... by conduct in the territorial sea.

(3)

In this regulation a “relevant prohibition” means any prohibition imposed by—

(a)

regulation 9(2) (confidential information),

(b)

Part 3 (Finance),

(c)

Part 5 (Trade),

F2(d)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(e)

a condition of a Treasury licence or a trade licence.

(4)

A United Kingdom person may comply, or fail to comply, with a relevant requirement by conduct wholly or partly outside the United Kingdom.

(5)

Any person may comply, or fail to comply, with a relevant requirement F3... by conduct in the territorial sea.

(6)

In this regulation, a “relevant requirement” means any requirement imposed—

(a)

by Chapter 2 of Part 3 (Investment, financial services and financial markets),

(b)

by or under regulation 57(5) (notification requirements in respect of exceptions relating to petroleum products) or Part 8 (Information and records), or by reason of a request made under a power conferred by Part 8, or

(c)

by a condition of a Treasury licence or a trade licence.

(7)

Nothing in this regulation is to be taken to prevent a relevant prohibition or a relevant requirement from applying to conduct (by any person) in the United Kingdom.

Annotations

Textual amendments

F1: Words in reg. 3(2) omitted (25.4.2025) by virtue of The Syria (Sanctions) (EU Exit) (Amendment) Regulations 2025 (S.I. 2025/507), regs. 1(2), 4(a)
F2: Reg. 3(3)(d) omitted (25.4.2025) by virtue of The Syria (Sanctions) (EU Exit) (Amendment) Regulations 2025 (S.I. 2025/507), regs. 1(2), 4(b)
F3: Words in reg. 3(5) omitted (25.4.2025) by virtue of The Syria (Sanctions) (EU Exit) (Amendment) Regulations 2025 (S.I. 2025/507), regs. 1(2), 4(c)

Commencement

I1: Reg. 3 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)