The Yemen (Sanctions) (EU Exit) (No. 2) Regulations 2020

Transitional provision: prior obligations

71.—(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), and

(b) paragraphs 6(b)(i), 8(a) 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—

(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;

(b)

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