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The Republic of Belarus (Sanctions) (EU Exit) Regulations 2019

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There are currently no known outstanding effects for the The Republic of Belarus (Sanctions) (EU Exit) Regulations 2019, Section 13. Help about Changes to Legislation

[F1Making funds available for benefit of designated personsU.K.

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13.(1) A person (“P”) must not make funds available to any person for the benefit of a designated person if P knows, or has reasonable cause to suspect, that P is making the funds so available.

(2) Paragraph (1) is subject to Part 6 (Exceptions and licences).

(3) A person who contravenes the prohibition in paragraph (1) commits an offence.

(4) For the purposes of this regulation—

(a)funds are made available for the benefit of a designated person only if that person thereby obtains, or is able to obtain, a significant financial benefit, and

(b)financial benefit” includes the discharge (or partial discharge) of a financial obligation for which the designated person is wholly or partly responsible.]

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Commencement Information

I1Reg. 13 not in force at made date, see reg. 1(2)

I2Reg. 13 in force at 31.12.2020 by S.I. 2019/627, reg. 12(2); 2020 c. 1, Sch. 5 para. 1(1)

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