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The Yemen (European Union Financial Sanctions) Regulations 2014

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Changes over time for: Section 2

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Point in time view as at 19/12/2014. This version of this provision no longer has effect. Help about Status

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There are currently no known outstanding effects for the The Yemen (European Union Financial Sanctions) Regulations 2014, Section 2. Help about Changes to Legislation

InterpretationU.K.

This section has no associated Explanatory Memorandum

2.—(1) In these Regulations—

the 2000 Act” means the Financial Services and Markets Act 2000 M1;

the Council Regulation” means Council Regulation (EU) No. 1352/2014 of 18 December 2014 concerning restrictive measures in view of the situation in Yemen, and a reference to an Annex to that Regulation is to be construed as a reference to that Annex as amended from time to time;

designated person” means a person, entity or body listed in Annex I to the Council Regulation;

document” includes information recorded in any form;

relevant institution” means—

(a)

a person who has permission under Part 4A of the 2000 Act (permission to carry on regulated activities) M2;

(b)

an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to the 2000 Act (EEA passport rights) M3 which has permission under paragraph 15 of that Schedule M4 (as a result of qualifying for authorisation under paragraph 12 of that Schedule M5) to accept deposits; or

(c)

an undertaking which by way of business operates a currency exchange office, transmits money (or any representations of monetary value) by any means or cashes cheques which are made payable to customers.

(2) The definition of “relevant institution” in paragraph (1) must be read with—

(a)section 22 M6 of the 2000 Act (regulated activities),

(b)any relevant order under that section M7, and

(c)Schedule 2 M8 to that Act (regulated activities).

(3) Any expression used both in these Regulations and in the Council Regulation has, in these Regulations, the meaning that it bears in the Council Regulation.

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