The Russia (Sanctions) (EU Exit) Regulations 2019

Changes over time for: Section 64

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Changes to legislation:

The Russia (Sanctions) (EU Exit) Regulations 2019, Section 64 is up to date with all changes known to be in force on or before 02 January 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

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View outstanding changes

Changes and effects yet to be applied to Regulation 64:

reg. 71(1)(j)-(m) inserted by S.I. 2024/1157 reg. 15(12)(a)
reg. 71(3D)-(3K) inserted by S.I. 2024/1157 reg. 15(12)(c)
reg. 71(5)(da) inserted by S.I. 2024/1157 reg. 15(12)(d)

Changes and effects yet to be applied to the whole Instrument associated Parts and Chapters:

Whole provisions yet to be inserted into this Instrument (including any effects on those provisions):

reg. 71(1)(j)-(m) inserted by S.I. 2024/1157 reg. 15(12)(a)
reg. 71(3D)-(3K) inserted by S.I. 2024/1157 reg. 15(12)(c)
reg. 71(5)(da) inserted by S.I. 2024/1157 reg. 15(12)(d)

Treasury licencesU.K.

This section has no associated Explanatory Memorandum

64.—(1) The prohibitions in regulations 11 to 15 (asset-freeze etc.) [F1, 16 (securities and money market instruments), 17 (loans and credit arrangements), 17A [F2(corresponding banking relationships and processing payments)]] [F3, [F418 (investments in relation to non-government controlled Ukrainian territory)] [F5, 18A (provision of foreign reserve and asset management services) [F6, 18B] (investments in relation to Russia)] [F7, 18C (trust services)] [F8and 46Z9B to 46Z9D (maritime transportation of certain oil and oil products)]] do not apply to anything done under the authority of a licence issued by the Treasury under this paragraph.

[F9(1A) Without prejudice to the generality of the powers conferred by paragraph (1), a licence issued by the Treasury under paragraph (1) may, in particular, authorise acts which would otherwise be prohibited by any of [F10regulations 11 to [F1118C]] [F12or regulations 46Z9B to 46Z9D] for a particular period beginning with—

(a)the coming into force of the prohibition, or

(b)where the prohibition relates to a person designated for the purposes of regulations 11 to 15, [F13regulation 17A or regulation 18C], the date on which the person was designated.]

(2) The Treasury may issue a licence which authorises acts by a particular person only—

(a)in the case of acts which would otherwise be prohibited by regulations 11 to 15, where the Treasury consider that it is appropriate to issue the licence for a purpose set out in Part 1 of Schedule 5, F14...

[F15(aza)in the case of acts which would otherwise be prohibited by regulations 11 to 15, 16, 17, 17A, 18A and 18C, where the Treasury consider that it is appropriate to issue the licence for a purpose set out in [F16Part 1ZA or Part 1ZB] of Schedule 5;]

[F17(aa)in the case of acts which would otherwise be prohibited by regulation 17, where the Treasury consider that it is appropriate to issue the licence for a purpose set out in Part 1A of Schedule 5,

(ab)in the case of acts which would otherwise be prohibited by regulation 17A, where the Treasury consider that it is appropriate to issue the licence for a purpose set out in Part 1B of Schedule 5,

(ac)in the case of acts which would otherwise be prohibited by regulation 17A(2) (processing F18... payments), where the Treasury consider that it is appropriate to issue the licence for a purpose set out in Part 1C of Schedule 5, F19...]

(b)in the case of acts which would otherwise be prohibited by regulation 18, where the Treasury consider that it is appropriate to issue the licence for a purpose set out in Part 2 of Schedule 5 [F20, F21...]

[F22(c)in the case of acts which would otherwise be prohibited by regulation 18A (provision of foreign exchange reserve and asset management services), where the Treasury consider that it is appropriate to issue the licence for a purpose set out in Part 1D of [F23Schedule 5, F24...]]

[F25(d)in the case of acts which would otherwise be prohibited by regulation 18B (investments in relation to Russia), where the Treasury consider that it is appropriate to issue the licence for a purpose set out in Part 3 of Schedule 5, F26...]

[F27(da)in the case of acts which would otherwise be prohibited by regulation 18C (trust services), where the Treasury consider that it is appropriate to issue the licence for a purpose set out in Part 3A of Schedule 5, and]

[F28(e)in the case of acts which would otherwise be prohibited by regulations 46Z9B to 46Z9D, where the Treasury consider that it is appropriate to issue the licence for the purpose set out in Part 4 of Schedule 5.]

[F29(3) Part A1 of Schedule 5 has effect for the interpretation of terms in that Schedule.]

Textual Amendments

F1Words in reg. 64(1) inserted (1.3.2022) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2022 (S.I. 2022/194), regs. 1(2), 12(a)

F2Words in reg. 64(1) substituted (15.12.2023) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 4) Regulations 2023 (S.I. 2023/1364), regs. 1(3), 23(1)(2)(d)

F3Words in reg. 64(1) substituted (1.3.2022 at 5.00 p.m.) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 5) Regulations 2022 (S.I. 2022/205), regs. 1(2), 5(a)

F4Words in reg. 64(1) substituted (30.3.2022 at 5.00 p.m.) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 7) Regulations 2022 (S.I. 2022/395), regs. 1(2), 31(a)

F5Words in reg. 64(1) substituted (19.7.2022) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 12) Regulations 2022 (S.I. 2022/801), regs. 1(2), 8(a)

F6Word in reg. 64(1) substituted (5.12.2022) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 16) Regulations 2022 (S.I. 2022/1122), regs. 1(2), 7(2)(a)

F7Words in reg. 64(1) inserted (16.12.2022) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 17) Regulations 2022 (S.I. 2022/1331), regs. 1(2)(b), 16(a)

F8Words in reg. 64(1) inserted (5.12.2022) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 16) Regulations 2022 (S.I. 2022/1122), regs. 1(2), 7(2)(b)

F9Reg. 64(1A) inserted (1.3.2022) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2022 (S.I. 2022/194), regs. 1(2), 12(b)

F10Words in reg. 64(1A) substituted (19.7.2022) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 12) Regulations 2022 (S.I. 2022/801), regs. 1(2), 8(b)