Reg. 6 in force at 31.12.2020 by S.I. 2020/1514, reg. 16(2)

Reg. 7 in force at 31.12.2020 by S.I. 2020/1514, reg. 16(2)

Reg. 8 in force at 31.12.2020 by S.I. 2020/1514, reg. 16(2)

Reg. 9 in force at 31.12.2020 by S.I. 2020/1514, reg. 16(2)

Reg. 10 in force at 31.12.2020 by S.I. 2020/1514, reg. 16(2)

Reg. 11 in force at 31.12.2020 by S.I. 2020/1514, reg. 16(2)

Reg. 12 in force at 31.12.2020 by S.I. 2020/1514, reg. 16(2)

Reg. 13 in force at 31.12.2020 by S.I. 2020/1514, reg. 16(2)

http://www.legislation.gov.uk/uksi/2020/948/part/3The Afghanistan (Sanctions) (EU Exit) Regulations 2020texttext/xmlenEXITING THE EUROPEAN UNIONSANCTIONSStatute Law Database2024-08-01Expert Participation2024-06-05These Regulations are made under the Sanctions and Anti-Money Laundering Act 2018 (c.13) to give effect to the United Kingdom's international obligations resulting from various United Nations Security Council Resolutions imposing a sanctions regime in view of the situation in Afghanistan, including UN Security Council Resolution 2255 (2017) adopted by the Security Council on 21 December 2015 (and previously UN Security Council Resolution 1988 (2011)). Following the United Kingdom's withdrawal from the European Union, these Regulations will replace the corresponding EU sanctions regime, which is currently implemented by an EU Council Decision and Regulation.Part 3Finance6Meaning of “designated person” in Part 3

In this Part a “designated person” means a person who is designated for the purposes of regulations 8 to 12 (asset-freeze etc.) by reason of regulation 5 (designation of persons named under UN Security Council Resolutions).

7Meaning of “owned or controlled directly or indirectly” in Part 31

In this Part, a person who is not an individual (“C”) is “owned or controlled directly or indirectly” by another person (“P”) if either of the following two conditions is met (or both are met).

2

The first condition is that P—

a

holds directly or indirectly more than 50% of the shares in C,

b

holds directly or indirectly more than 50% of the voting rights in C, or

c

holds the right directly or indirectly to appoint or remove a majority of the board of directors of C.

3

Schedule 1 contains provision applying for the purpose of interpreting paragraph (2).

4

The second condition is that it is reasonable, having regard to all the circumstances, to expect that P would (if P chose to) be able, in most cases or in significant respects, by whatever means and whether directly or indirectly, to achieve the result that affairs of C are conducted in accordance with P's wishes.

8Asset-freeze in relation to designated persons1

A person (“P”) must not deal with funds or economic resources owned, held or controlled by a designated person if P knows, or has reasonable cause to suspect, that P is dealing with such funds or economic resources.

2

Paragraph (1) is subject to Part 5 (Exceptions and licences).

3

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

4

For the purposes of paragraph (1), a person “deals with” funds if the person—

a

uses, alters, moves, transfers or allows access to the funds,

b

deals with the funds in any other way that would result in any change in volume, amount, location, ownership, possession, character or destination, or

c

makes any other change, including portfolio management, that would enable use of the funds.

5

For the purposes of paragraph (1), a person “deals with” economic resources if the person—

a

exchanges the economic resources for funds, goods or services, or

b

uses the economic resources in exchange for funds, goods or services (whether by pledging them as security or otherwise).

6

The reference in paragraph (1) to funds or economic resources that are “owned, held or controlled” by a person includes, in particular, a reference to—

a

funds or economic resources in which the person has any legal or equitable interest, regardless of whether the interest is held jointly with any other person and regardless of whether any other person holds an interest in the funds or economic resources;

b

any tangible property (other than real property), or bearer security, that is comprised in funds or economic resources and is in the possession of the person.

7

For the purposes of paragraph (1), funds or economic resources are to be treated as owned, held or controlled by a designated person if they are owned, held or controlled by a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person.

8

For the avoidance of doubt, the reference in paragraph (1) to a designated person includes P if P is a designated person.

9Making funds available to designated persons1

A person (“P”) must not make funds available directly or indirectly to 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 5 (Exceptions and licences).

3

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

4

The reference in paragraph (1) to making funds available indirectly to a designated person includes, in particular, a reference to making them available to a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person.

10Making funds available for benefit of designated persons1

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 5 (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.

11Making economic resources available to designated persons1

A person (“P”) must not make economic resources available directly or indirectly to a designated person if P knows, or has reasonable cause to suspect—

a

that P is making the economic resources so available, and

b

that the designated person would be likely to exchange the economic resources for, or use them in exchange for, funds, goods or services.

2

Paragraph (1) is subject to Part 5 (Exceptions and licences).

3

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

4

The reference in paragraph (1) to making economic resources available indirectly to a designated person includes, in particular, a reference to making them available to a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person.

12Making economic resources available for benefit of designated persons1

A person (“P”) must not make economic resources 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 economic resources so available.

2

Paragraph (1) is subject to Part 5 (Exceptions and licences).

3

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

4

For the purposes of paragraph (1)—

a

economic resources 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.

13Circumventing etc. prohibitions1

A person must not intentionally participate in activities knowing that the object or effect of them is, whether directly or indirectly—

a

to circumvent any of the prohibitions in regulations 8 to 12 (asset-freeze etc.), or

b

to enable or facilitate the contravention of any such prohibition.

2

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

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Reg. 6 in force at 31.12.2020 by
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Reg. 7 in force at 31.12.2020 by
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Reg. 8 in force at 31.12.2020 by
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Reg. 9 in force at 31.12.2020 by
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Reg. 10 in force at 31.12.2020 by
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6
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<heading>Meaning of “designated person” in Part 3</heading>
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In this Part a “
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7
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<heading>Meaning of “owned or controlled directly or indirectly” in Part 3</heading>
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<p>In this Part, a person who is not an individual (“C”) is “owned or controlled directly or indirectly” by another person (“P”) if either of the following two conditions is met (or both are met).</p>
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<p>holds the right directly or indirectly to appoint or remove a majority of the board of directors of C.</p>
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<p>The second condition is that it is reasonable, having regard to all the circumstances, to expect that P would (if P chose to) be able, in most cases or in significant respects, by whatever means and whether directly or indirectly, to achieve the result that affairs of C are conducted in accordance with P's wishes.</p>
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8
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<heading>Asset-freeze in relation to designated persons</heading>
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<p>A person (“P”) must not deal with funds or economic resources owned, held or controlled by a designated person if P knows, or has reasonable cause to suspect, that P is dealing with such funds or economic resources.</p>
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<paragraph eId="regulation-8-2">
<num>2</num>
<content>
<p>Paragraph (1) is subject to Part 5 (Exceptions and licences).</p>
</content>
</paragraph>
<paragraph eId="regulation-8-3">
<num>3</num>
<content>
<p>A person who contravenes the prohibition in paragraph (1) commits an offence.</p>
</content>
</paragraph>
<paragraph eId="regulation-8-4">
<num>4</num>
<intro>
<p>For the purposes of paragraph (1), a person “deals with” funds if the person—</p>
</intro>
<subparagraph eId="regulation-8-4-a">
<num>a</num>
<content>
<p>uses, alters, moves, transfers or allows access to the funds,</p>
</content>
</subparagraph>
<subparagraph eId="regulation-8-4-b">
<num>b</num>
<content>
<p>deals with the funds in any other way that would result in any change in volume, amount, location, ownership, possession, character or destination, or</p>
</content>
</subparagraph>
<subparagraph eId="regulation-8-4-c">
<num>c</num>
<content>
<p>makes any other change, including portfolio management, that would enable use of the funds.</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="regulation-8-5">
<num>5</num>
<intro>
<p>For the purposes of paragraph (1), a person “deals with” economic resources if the person—</p>
</intro>
<subparagraph eId="regulation-8-5-a">
<num>a</num>
<content>
<p>exchanges the economic resources for funds, goods or services, or</p>
</content>
</subparagraph>
<subparagraph eId="regulation-8-5-b">
<num>b</num>
<content>
<p>uses the economic resources in exchange for funds, goods or services (whether by pledging them as security or otherwise).</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="regulation-8-6">
<num>6</num>
<intro>
<p>The reference in paragraph (1) to funds or economic resources that are “owned, held or controlled” by a person includes, in particular, a reference to—</p>
</intro>
<subparagraph eId="regulation-8-6-a">
<num>a</num>
<content>
<p>funds or economic resources in which the person has any legal or equitable interest, regardless of whether the interest is held jointly with any other person and regardless of whether any other person holds an interest in the funds or economic resources;</p>
</content>
</subparagraph>
<subparagraph eId="regulation-8-6-b">
<num>b</num>
<content>
<p>any tangible property (other than real property), or bearer security, that is comprised in funds or economic resources and is in the possession of the person.</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="regulation-8-7">
<num>7</num>
<content>
<p>For the purposes of paragraph (1), funds or economic resources are to be treated as owned, held or controlled by a designated person if they are owned, held or controlled by a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person.</p>
</content>
</paragraph>
<paragraph eId="regulation-8-8">
<num>8</num>
<content>
<p>For the avoidance of doubt, the reference in paragraph (1) to a designated person includes P if P is a designated person.</p>
</content>
</paragraph>
</hcontainer>
<hcontainer name="regulation" eId="regulation-9" period="#period1">
<num>
<noteRef href="#key-e04a8a922492eecee9e7a7133abdb4a9" marker="I4" class="commentary I"/>
9
</num>
<heading>Making funds available to designated persons</heading>
<paragraph eId="regulation-9-1">
<num>1</num>
<content>
<p>A person (“P”) must not make funds available directly or indirectly to a designated person if P knows, or has reasonable cause to suspect, that P is making the funds so available.</p>
</content>
</paragraph>
<paragraph eId="regulation-9-2">
<num>2</num>
<content>
<p>Paragraph (1) is subject to Part 5 (Exceptions and licences).</p>
</content>
</paragraph>
<paragraph eId="regulation-9-3">
<num>3</num>
<content>
<p>A person who contravenes the prohibition in paragraph (1) commits an offence.</p>
</content>
</paragraph>
<paragraph eId="regulation-9-4">
<num>4</num>
<content>
<p>The reference in paragraph (1) to making funds available indirectly to a designated person includes, in particular, a reference to making them available to a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person.</p>
</content>
</paragraph>
</hcontainer>
<hcontainer name="regulation" eId="regulation-10" period="#period1">
<num>
<noteRef href="#key-dd823f3e09f1e50b4de4e696327376fa" marker="I5" class="commentary I"/>
10
</num>
<heading>Making funds available for benefit of designated persons</heading>
<paragraph eId="regulation-10-1">
<num>1</num>
<content>
<p>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.</p>
</content>
</paragraph>
<paragraph eId="regulation-10-2">
<num>2</num>
<content>
<p>Paragraph (1) is subject to Part 5 (Exceptions and licences).</p>
</content>
</paragraph>
<paragraph eId="regulation-10-3">
<num>3</num>
<content>
<p>A person who contravenes the prohibition in paragraph (1) commits an offence.</p>
</content>
</paragraph>
<paragraph eId="regulation-10-4">
<num>4</num>
<intro>
<p>For the purposes of this regulation—</p>
</intro>
<subparagraph eId="regulation-10-4-a">
<num>a</num>
<content>
<p>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</p>
</content>
</subparagraph>
<subparagraph eId="regulation-10-4-b">
<num>b</num>
<content>
<p>
<term refersTo="#term-financial-benefit">financial benefit</term>
” includes the discharge (or partial discharge) of a financial obligation for which the designated person is wholly or partly responsible.
</p>
</content>
</subparagraph>
</paragraph>
</hcontainer>
<hcontainer name="regulation" eId="regulation-11" period="#period1">
<num>
<noteRef href="#key-b1eece34cb6280ec536347a16d04999c" marker="I6" class="commentary I"/>
11
</num>
<heading>Making economic resources available to designated persons</heading>
<paragraph eId="regulation-11-1">
<num>1</num>
<intro>
<p>A person (“P”) must not make economic resources available directly or indirectly to a designated person if P knows, or has reasonable cause to suspect—</p>
</intro>
<subparagraph eId="regulation-11-1-a">
<num>a</num>
<content>
<p>that P is making the economic resources so available, and</p>
</content>
</subparagraph>
<subparagraph eId="regulation-11-1-b">
<num>b</num>
<content>
<p>that the designated person would be likely to exchange the economic resources for, or use them in exchange for, funds, goods or services.</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="regulation-11-2">
<num>2</num>
<content>
<p>Paragraph (1) is subject to Part 5 (Exceptions and licences).</p>
</content>
</paragraph>
<paragraph eId="regulation-11-3">
<num>3</num>
<content>
<p>A person who contravenes the prohibition in paragraph (1) commits an offence.</p>
</content>
</paragraph>
<paragraph eId="regulation-11-4">
<num>4</num>
<content>
<p>The reference in paragraph (1) to making economic resources available indirectly to a designated person includes, in particular, a reference to making them available to a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person.</p>
</content>
</paragraph>
</hcontainer>
<hcontainer name="regulation" eId="regulation-12" period="#period1">
<num>
<noteRef href="#key-428f3e063dd9aa453e6bce0ec942f8f9" marker="I7" class="commentary I"/>
12
</num>
<heading>Making economic resources available for benefit of designated persons</heading>
<paragraph eId="regulation-12-1">
<num>1</num>
<content>
<p>A person (“P”) must not make economic resources 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 economic resources so available.</p>
</content>
</paragraph>
<paragraph eId="regulation-12-2">
<num>2</num>
<content>
<p>Paragraph (1) is subject to Part 5 (Exceptions and licences).</p>
</content>
</paragraph>
<paragraph eId="regulation-12-3">
<num>3</num>
<content>
<p>A person who contravenes the prohibition in paragraph (1) commits an offence.</p>
</content>
</paragraph>
<paragraph eId="regulation-12-4">
<num>4</num>
<intro>
<p>For the purposes of paragraph (1)—</p>
</intro>
<subparagraph eId="regulation-12-4-a">
<num>a</num>
<content>
<p>economic resources 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</p>
</content>
</subparagraph>
<subparagraph eId="regulation-12-4-b">
<num>b</num>
<content>
<p>
<term refersTo="#term-financial-benefit">financial benefit</term>
” includes the discharge (or partial discharge) of a financial obligation for which the designated person is wholly or partly responsible.
</p>
</content>
</subparagraph>
</paragraph>
</hcontainer>
<hcontainer name="regulation" eId="regulation-13" period="#period1">
<num>
<noteRef href="#key-c9b414ad0bc9e63b3cd207e49616e61d" marker="I8" class="commentary I"/>
13
</num>
<heading>Circumventing etc. prohibitions</heading>
<paragraph eId="regulation-13-1">
<num>1</num>
<intro>
<p>A person must not intentionally participate in activities knowing that the object or effect of them is, whether directly or indirectly—</p>
</intro>
<subparagraph eId="regulation-13-1-a">
<num>a</num>
<content>
<p>to circumvent any of the prohibitions in regulations 8 to 12 (asset-freeze etc.), or</p>
</content>
</subparagraph>
<subparagraph eId="regulation-13-1-b">
<num>b</num>
<content>
<p>to enable or facilitate the contravention of any such prohibition.</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="regulation-13-2">
<num>2</num>
<content>
<p>A person who contravenes a prohibition in paragraph (1) commits an offence.</p>
</content>
</paragraph>
</hcontainer>
</part>
</portionBody>
</portion>
</akomaNtoso>