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Regulation 71 Transitional provision: prior obligationsI1I2

United Kingdom

(1)

Where—

(a)

a person was named in Annex I of the EU Yemen Regulation immediately before the relevant date, and

(b)

the person is a designated person immediately before the relevant date,

any reference in a provision mentioned in paragraph (3) to the date on which a person became a designated person is a reference to the date on which the person was so named.

(2)

Where, immediately before the relevant date, a person was named by the Security Council or the Committee for the purposes of paragraph 11 of resolution 2140, any reference in a provision mentioned in paragraph (3) to the date on which a person became a designated person is to be read as a reference to the date on which the person was so named.

(3)

The provisions referred to in paragraph (1) and (2) are—

(a)

regulation 30(5) (finance: exceptions from prohibitions), F1...

F2(ba)

regulation 30ZB (finance: exceptions relating to payment of Treasury debt), and

(b)

paragraphs F38(a), 8A(b)(i) and 9(a) of Schedule 2 (Treasury licences: purposes).

(4)

In this regulation—

  • “designated person” has the same meaning as it has in Part 3 (Finance);

  • “the relevant date” means—

    1. (a)

      where regulations under section 56 of the Act provide that Part 3 comes into force at a specified time on a day, that time on that day;

    2. (b)

      otherwise, the date on which Part 3 comes into force.

Annotations

Textual amendments

F1

Word in reg. 71(3)(a) omitted (10.7.2025) by virtue of The Sanctions (EU Exit) (Treasury Debt) Regulations 2025 (S.I. 2025/712), regs. 1(1), 4(3)(a)

F2

Reg. 71(3)(ba) inserted (10.7.2025) by The Sanctions (EU Exit) (Treasury Debt) Regulations 2025 (S.I. 2025/712), regs. 1(1), 4(3)(b)

F3

Words in reg. 71(3)(b) substituted (5.12.2024) by The Sanctions (EU Exit) (Miscellaneous Amendments) (No. 2) Regulations 2024 (S.I. 2024/1157), regs. 1(2), 29(12)

Commencement

I1

Reg. 71 not in force at made date, see reg. 1(2)

I2

Reg. 71 in force at 31.12.2020 by S.I. 2020/1514, reg. 20(2)