PART 1General

Citation, commencement and application1

1

These Regulations may be cited as the Ukraine (European Union Financial Sanctions) Regulations 2014 and shall come into force at 3.30 p.m. on 6th March 2014.

2

An offence under these Regulations may be committed by conduct wholly or partly outside the United Kingdom by—

a

a UK national, or

b

a body incorporated or constituted under the law of any part of the United Kingdom.

3

In paragraph (2)—

  • “conduct” includes acts and omissions;

  • “UK national” means—

    1. a

      a British citizen,

    2. b

      a British overseas territories citizen who acquired their citizenship from a connection with Gibraltar, or

    3. c

      a British subject under Part 4 of the British Nationality Act 1981 (British subjects) M1 with the right of abode in the United Kingdom.

Interpretation2

1

In these Regulations—

  • “the 2000 Act” means the Financial Services and Markets Act 2000 M2;

  • “the Council Regulation” means Council Regulation (EU) No. 208/2014 of 5 March 2014 concerning restrictive measures directed against certain persons, entities and bodies in view of the situation in Ukraine, 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 and, in relation to information recorded otherwise than in legible form, references to its production include producing a copy of the information in legible form;

  • “relevant institution” means—

    1. a

      a person who has permission under Part 4A of the 2000 Act (permission to carry on regulated activities) M3;

    2. b

      an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to the 2000 Act (EEA passport rights) M4 which has permission under paragraph 15 of that Schedule M5 (as a result of qualifying for authorisation under paragraph 12 of that Schedule M6) to accept deposits; or

    3. 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 M7 of the 2000 Act (regulated activities),

b

any relevant order under that section M8, and

c

Schedule 2 M9 to that Act (regulated activities).

3

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