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Regulation 26 Financial services and funds relating to restricted goods and restricted technologyI1I2

United Kingdom

(1)

A person must not directly or indirectly provide, to a person connected with Zimbabwe, financial services in pursuance of or in connection with an arrangement whose object or effect is—

(a)

the export of restricted goods,

(b)

the direct or indirect supply or delivery of restricted goods,

(c)

directly or indirectly making restricted goods or restricted technology available to a person,

(d)

the transfer of restricted technology, or

(e)

the direct or indirect provision of technical assistance relating to restricted goods or restricted technology.

(2)

A person must not directly or indirectly make funds available to a person connected with Zimbabwe in pursuance of or in connection with an arrangement mentioned in paragraph (1).

(3)

A person must not directly or indirectly provide financial services or funds in pursuance of or in connection with an arrangement whose object or effect is—

(a)

the export of restricted goods to, or for use in, Zimbabwe,

(b)

the direct or indirect supply or delivery of restricted goods to a place in Zimbabwe,

(c)

directly or indirectly making restricted goods or restricted technology available—

(i)

to a person connected with Zimbabwe, or

(ii)

for use in Zimbabwe,

(d)

the transfer of restricted technology—

(i)

to a person connected with Zimbabwe, or

(ii)

to a place in Zimbabwe, or

(e)

the direct or indirect provision of technical assistance relating to restricted goods or restricted technology—

(i)

to a person connected with Zimbabwe, or

(ii)

for use in Zimbabwe.

(4)

Paragraphs (1) to (3) are subject to Part 6 (exceptions and licences).

(5)

A person who contravenes a prohibition in any of paragraphs (1) to (3) commits an offence, but—

(a)

it is a defence for a person charged with an offence of contravening paragraph (1) or (2) (“P”) to show that P did not know and had no reasonable cause to suspect that the person was connected with Zimbabwe;

(b)

it is a defence for a person charged with an offence of contravening a prohibition in paragraph (3) to show that the person did not know and had no reasonable cause to suspect that the financial services or funds (as the case may be) were provided in pursuance of or in connection with an arrangement mentioned in that paragraph.

Annotations

Commencement

I1

Reg. 26 not in force at made date, see reg. 1(2)

I2

Reg. 26 in force at 31.12.2020 by S.I. 2019/627, reg. 13(2); 2020 c. 1, Sch. 5 para. 1(1)