The Russia, Crimea and Sevastopol (Sanctions) (Overseas Territories) (Amendment) Order 2015

Amendments to the principal Order

4.  For article 5 substitute—

“Investment in Crimea or Sevastopol

5.— (1) It is an offence for a person to knowingly—

(a) acquire any new or extend any existing participation in ownership of real estate located in Crimea or Sevastopol;

(b) acquire any new or extend any existing participation in ownership or control of an entity in Crimea or Sevastopol, including the acquisition in full of such entity or the acquisition of shares and other securities of a participating nature in such entity;

(c) grant or be part of any arrangement to grant any loan or credit or otherwise provide financing, including equity capital, to an entity in Crimea or Sevastopol, or for the documented purpose of financing such entity;

(d) create any joint venture in Crimea or Sevastopol or with an entity in Crimea or Sevastopol;

(e) provide investment services directly related to the activities referred to in sub-paragraphs (a) to (d).

(2) Nothing in paragraph (1) prevents —

(a) the conduct of legitimate business with entities outside Crimea or Sevastopol where the related investments are not destined for entities in Crimea or Sevastopol; or

(b) the execution of an obligation arising from a contract concluded before 11th March 2015, or ancillary contracts necessary for the execution of such a contract, provided that the Governor has been informed at least five working days in advance.

(3) This article is subject to articles 13 and 14.”.