PART 10Supplementary and final provision
Transitional Provisions: prior obligationsI174
1
Where—
a
a person was named in Annex Ⅳ or Ⅴ of the EU Venezuela Regulation immediately before the relevant date, and
b
the person is a designated person immediately before the relevant date,
any reference in a provision mentioned in paragraph (2) to the date on which a person became a designated person is a reference to the date on which the person was named in one of those Annexes.
2
The provisions referred to in paragraph (1) are—
a
regulation 33(5) (finance: exceptions from prohibitions), and
b
paragraphs 6(b)(i) and 9(a) of Schedule 4 (Treasury licences: purposes).
3
In this regulation—
“designated person” has the same meaning as it has in Part 3 (Finance);
“the relevant date” means—
- a
where regulations under section 56 of the Act provide that Part 3 comes into force at a specified time on a day, that time on that day;
- b
otherwise, the date on which Part 3 comes into force.
- a