The Global Anti-Corruption Sanctions Regulations 2021

[F1 Finance: exception from prohibitions for required payments U.K.

19A.— (1) This regulation applies to required payments within the meaning of paragraph (2).

(2) A required payment is a payment which—

(a) a designated person is required to make under or by virtue of any enactment to—

(i) the registrar of companies,

(ii) the Commissioners for His Majesty's Revenue and Customs,

(iii) the Welsh Revenue Authority,

(iv) Revenue Scotland,

(v) the Financial Conduct Authority,

(vi) the Secretary of State,

(vii) the Welsh Ministers,

(viii) the Department of Finance in Northern Ireland, or

(ix) a local authority, and

(b) is not an excluded payment.

(3) The prohibitions in regulations 11 (asset-freeze in relation to designated persons) and 13 (making funds available for benefit of designated persons) are not contravened by a person making a required payment.

(4) Where a required payment is made by a person other than a designated person, the prohibition in regulation 11 is not contravened by the designated person making a reimbursement payment to that person.

(5) The reference in paragraph (3) to a person making a required payment includes a designated person, but only where they are making a required payment on their own behalf.

(6) The following payments are to be treated as payments which a designated person is required to make under or by virtue of an enactment for the purposes of this regulation, where made by a designated person on their own behalf or by a person, other than a designated person, on behalf of a designated person—

(a) a payment to the Financial Conduct Authority of a levy imposed by the scheme manager of the Financial Services Compensation Scheme by virtue of section 213 of the Financial Services and Markets Act 2000 (the compensation scheme);

(b) a payment to the Financial Conduct Authority which is collected by that Authority on behalf of the Financial Reporting Council Limited.

(7) For the purposes of this regulation, references to a designated person are to be read as including a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person.

(8) In this regulation—

“BID levy” means a levy that is imposed on those persons who are, in respect of particular business improvement district proposals, entitled to vote in accordance with section 39(3) of the Planning etc. (Scotland) Act 2006;

“business improvement district” has the meaning given in section 33 of the Planning etc. (Scotland) Act 2006;

“designated person” has the same meaning as it has in Part 3 (Finance);

“enactment” has the meaning given in section 54(6) of the Act;

“excluded payment” means, in relation to—

(a)

the registrar of companies, a payment of fees for—

(i)

the incorporation of a firm;

(ii)

the restoration of a firm to a register which is administered by the registrar;

(b)

the Financial Conduct Authority, a payment of fees for—

(i)

an application for permission from, authorisation by, registration with or recognition from the Financial Conduct Authority which relates to the carrying on of any activity falling within any function of the Financial Conduct Authority;

(ii)

an application for a variation of such permission, authorisation, registration or recognition;

(iii)

an application for listing or for eligibility for listing;

(iv)

an application for review or approval of a document relating to listing;

(v)

an application for approval as a sponsor or primary information provider;

(vi)

an application for review or approval of—

(aa)

a document under the prospectus rules or the prospectus regulation;

(bb)

listing particulars under section 79 of the Financial Services and Markets Act 2000 or supplementary listing particulars under section 81 of that Act;

(c)

the Secretary of State or the Welsh Ministers, a payment that a designated person is required to make under or by virtue of an enactment other than a payment under or by virtue of Part 3 of the Local Government Finance Act 1988;

(d)

the Department of Finance in Northern Ireland, a payment that a designated person is required to make under or by virtue of an enactment other than a payment under or by virtue of Part 2 of the Rates (Northern Ireland) Order 1977;

(e)

a local authority, a payment that a designated person is required to make under or by virtue of an enactment other than a payment under or by virtue of—

(i)

Part 1 of the Local Government (Scotland) Act 1975;

(ii)

Part 3 of the Local Government Finance Act 1988;

(iii)

Parts 1 and 2 of the Local Government Finance Act 1992;

(iv)

Part 4 of the Local Government Act 2003;

(v)

Part 9 of the Planning etc. (Scotland) Act 2006;

(vi)

the Business Rate Supplements Act 2009;

(vii)

the Business Improvement Districts Act (Northern Ireland) 2013;

“firm” has the meaning given in section 1173(1) of the Companies Act 2006;

“listing” means being included in the official list maintained by the Financial Conduct Authority in accordance with Part 6 of the Financial Services and Markets Act 2000;

“local authority” means—

(a)

in relation to England—

(i)

a district council;

(ii)

a county council for any area for which there is no district council;

(iii)

a London borough council;

(iv)

the Common Council of the City of London in its capacity as a local authority;

(v)

the Council of the Isles of Scilly;

(b)

in relation to Wales, a county council or a county borough council;

(c)

in relation to Scotland, a council constituted under section 2 of the Local Government etc. (Scotland) Act 1994 or a person appointed by such a council for the purposes of the administration, collection and recovery of a BID levy;

(d)

in relation to Northern Ireland, a district council;

“primary information provider” has the meaning given in section 89P(2) of the Financial Services and Markets Act 2000;

“prospectus regulation” means Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC;

“prospectus rules” has the meaning given in section 73A(4) of the Financial Services and Markets Act 2000;

“registrar of companies” has the meaning given in section 1060 of the Companies Act 2006 (the registrar);

“reimbursement payment” means a repayment from the designated person to the person who made a required payment which is of the same amount as that required payment;

“scheme manager” has the meaning given in section 212 of the Financial Services and Markets Act 2000;

“sponsor” has the meaning given in section 88(2) of the Financial Services and Markets Act 2000.]

Textual Amendments

F1 Reg. 19A inserted (5.12.2024) by The Sanctions (EU Exit) (Miscellaneous Amendments) (No. 2) Regulations 2024 (S.I. 2024/1157), regs. 1(2), 32(5)