The Russia (Sanctions) (Overseas Territories) (Amendment) Order 2022

Amendment of the Russia (Sanctions) (Overseas Territories) Order 2020

38.  In paragraph 78, at the end insert—

“(e) in paragraph 9D(2) (diplomatic missions etc.), for “diplomatic mission or consular post of Russia in the United Kingdom” substitute “consular post of Russia in the Territory”;

(f) in paragraph 9H(2) (diplomatic missions etc.), for “diplomatic mission or consular post of Russia in the United Kingdom” substitute “consular post of Russia in the Territory”;

(g) in paragraph 9I (space), for “United Kingdom person” substitute “Territory person”;

(h) in paragraph 9N(2) (financial regulation), for “United Kingdom, including the Financial Conduct Authority, the Prudential Regulation Authority and the Bank of England” substitute “Territory”;

(i) in the heading of Part 1C (Sterling payments), at the end insert “etc.”;

(j) in paragraph 9S(2) (diplomatic missions etc.), for “diplomatic mission or consular post of Russia in the United Kingdom” substitute “consular post of Russia in the Territory”;

(k) in paragraph 9T (space), for “United Kingdom person” substitute “Territory person”;

(l) in paragraph 9V(2) (financial regulation), for “United Kingdom, including the Financial Conduct Authority, the Prudential Regulation Authority and the Bank of England” substitute “Territory”;

(m) in paragraph 9W (financial stability), for “Bank of England, that is necessary or expedient in order to protect or enhance the stability of the financial system of United Kingdom” substitute “central monetary authority for the Territory, that is necessary or expedient in order to protect or enhance the stability of the financial system of the Territory”;

(n) in paragraph 9X (safety and soundness of a firm), for “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” substitute “the authority responsible for the regulation of financial services in the Territory, that is necessary or expedient in order to promote the safety and soundness of a firm which is supervised by that authority”.”