The Russia (Sanctions) (EU Exit) (Amendment) (No. 17) Regulations 2022 No. 1331

Regulation 20(4)

SCHEDULE 3 Insertion of Part 3A (Trust services) in Schedule 5 (Treasury licences: purposes) to the Russia (Sanctions) (EU Exit) Regulations 2019

“PART 3A Trust services

Extraordinary situation

20A.   To enable anything to be done to deal with an extraordinary situation.

Humanitarian assistance activity

20B.   To enable anything to be done in connection with the performance of any humanitarian assistance activity.

Medical goods or services

20C.— (1) To enable anything to be done in connection with the provision of medical goods or services for the benefit of the civilian population of a country.

(2) To enable the import, export or use of medical goods.

Food

20D.   To enable anything to be done in connection with the production or distribution of food for the benefit of the civilian population of a country.

Diplomatic missions etc.

20E.— (1) To enable anything to be done in order that the functions of a diplomatic mission or consular post in Russia, or of an international organisation enjoying immunities in accordance with international law, may be carried out.

(2) To enable anything to be done in order that the functions of a diplomatic mission or consular post of Russia in the United Kingdom may be carried out.

Safety and soundness of a firm

20F.   To enable anything to be done by a person, following consultation by that person (or a person acting on their behalf) with the relevant supervising authority or authorities, that is necessary or expedient in order to promote the safety and soundness of a firm which is supervised by the Bank of England, the Prudential Regulation Authority or the Financial Conduct Authority.

Financial regulation

20G.   To enable anything to be done by, or on behalf of, a relevant financial authority for the purposes of the functions of that authority.

Financial stability

20H.   To enable anything to be done by a person, following consultation by that person (or a person acting on their behalf) with the Bank of England, that is necessary or expedient in order to protect or enhance the stability of the financial system of the United Kingdom.

Unauthorised unit trust schemes

20I.— (1) To enable the provision of trust services by the operator or trustee of an unauthorised unit trust scheme in relation to that scheme, provided that the condition in sub-paragraph (2) is met.

(2) The condition in this sub-paragraph is that the trust services are not provided primarily to or for the benefit of a designated person or a person connected with Russia.

(3) Terms used in this paragraph are to be construed in accordance with regulation 60ZZB.”