http://www.legislation.gov.uk/uksi/2019/438/regulation/31/madeThe South Sudan (Sanctions) (EU Exit) Regulations 2019enKing's Printer of Acts of Parliament2019-06-13EXITING THE EUROPEAN UNIONSANCTIONSThese Regulations are made under the Sanctions and Anti-Money Laundering Act 2018 (c.13) to establish a sanctions regime in relation to South Sudan for the purposes of compliance with the United Kingdom’s United Nations obligations and promoting the peace, security and stability of South Sudan and related purposes. Following the United Kingdom’s withdrawal from the European Union, these Regulations also replace the European Union sanctions regime in relation to the situation in South Sudan, implemented via an EU Council Decision and Regulation.PART 6Exceptions and licencesFinance: exceptions from prohibitions31.(1)

The prohibition in regulation 12 (asset-freeze in relation to designated persons) is not contravened by an independent person (“P”) transferring to another person a legal or equitable interest in funds or economic resources where, immediately before the transfer, the interest—

(a)

is held by P, and

(b)

is not held jointly with the designated person.

(2)

In paragraph (1) “independent person” means a person who—

(a)

is not the designated person, and

(b)

is not owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person.

(3)

The prohibitions in regulations 12 to 14 (asset-freeze in relation to, and making funds available to, or for the benefit of, designated persons) are not contravened by a relevant institution crediting a frozen account with interest or other earnings due on the account.

(4)

The prohibitions in regulations 13 and 14 (making funds available to, or for the benefit of, designated persons) are not contravened by a relevant institution crediting a frozen account where it receives funds transferred to that institution for crediting to that account.

(5)

The prohibitions in regulations 13 and 14 are not contravened by the transfer of funds to a relevant institution for crediting to an account held or controlled (directly or indirectly) by a designated person, where those funds are transferred in discharge (or partial discharge) of an obligation which arose before the date on which the person became a designated person.

(6)

The prohibitions in regulations 12 to 14 are not contravened in relation to a designated person (“P”) by a transfer of funds from account A to account B, where—

(a)

account A is with a relevant institution which carries on an excluded activity within the meaning of section 142D of the Financial Services and Markets Act 2000

2000 c.8. Section 142D was inserted by the Financial Services (Banking Reform) Act 2013 (c.33), section 4(1).

,

(b)

account B is with a ring-fenced body within the meaning of section 142A of the Financial Services and Markets Act 2000

Section 142A was inserted by the Financial Services (Banking Reform) Act 2013, section 4(1).

, and

(c)

accounts A and B are held or controlled (directly or indirectly) by P.

(7)

In this regulation—

“designated person” has the same meaning as it has in Part 3 (Finance);

“frozen account” means an account with a relevant institution which is held or controlled (directly or indirectly) by a designated person;

“relevant institution” means a person that has permission under Part 4A of the Financial Services and Markets Act 2000

Part 4A was inserted by the Financial Services Act 2012 (c.21), section 11(2) and amended by S.I. 2018/135.

(permission to carry on regulated activity).

(8)

The definition of “relevant institution” in paragraph (7) is to be read with section 22 of the Financial Services and Markets Act 2000

Section 22 was amended by the Financial Guidance and Claims Act 2018 (c.10), section 27(4); the Financial Services Act 2012, section 7(1); and S.I. 2018/135.

, any relevant order under that section

S.I. 2001/544 as most recently amended by S.I. 2018/1288 and prospectively amended by S.I. 2018/1403.

and Schedule 2 to that Act

Schedule 2 was amended by the Regulation of Financial Services (Land Transactions) Act 2005 (c.24), section 1; the Dormant Bank and Building Society Accounts Act 2008 (c.31), section 15 and Schedule 2, paragraph 1; the Financial Services Act 2012, sections 7(2) to (5) and 8; and S.I. 2013/1881; and it is prospectively amended by S.I. 2018/135.

.

This XML file does not appear to have any style information associated with it. The document tree is shown below.
<akomaNtoso xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xsi:schemaLocation="http://docs.oasis-open.org/legaldocml/ns/akn/3.0 http://docs.oasis-open.org/legaldocml/akn-core/v1.0/cos01/part2-specs/schemas/akomantoso30.xsd">
<act name="uksi">
<meta>
<identification source="#">
<FRBRWork>
<FRBRthis value="http://www.legislation.gov.uk/id/uksi/2019/438"/>
<FRBRuri value="http://www.legislation.gov.uk/id/uksi/2019/438"/>
<FRBRdate date="2019-03-04" name="made"/>
<FRBRauthor href="http://www.legislation.gov.uk/id/government/uk"/>
<FRBRcountry value="GB-UKM"/>
<FRBRsubtype value="regulation"/>
<FRBRnumber value="438"/>
<FRBRname value="S.I. 2019/438"/>
<FRBRprescriptive value="true"/>
</FRBRWork>
<FRBRExpression>
<FRBRthis value="http://www.legislation.gov.uk/uksi/2019/438/made"/>
<FRBRuri value="http://www.legislation.gov.uk/uksi/2019/438/made"/>
<FRBRdate date="2019-03-04" name="made"/>
<FRBRauthor href="#"/>
<FRBRlanguage language="eng"/>
</FRBRExpression>
<FRBRManifestation>
<FRBRthis value="http://www.legislation.gov.uk/uksi/2019/438/made/data.akn"/>
<FRBRuri value="http://www.legislation.gov.uk/uksi/2019/438/made/data.akn"/>
<FRBRdate date="2024-11-25Z" name="transform"/>
<FRBRauthor href="http://www.legislation.gov.uk"/>
<FRBRformat value="application/akn+xml"/>
</FRBRManifestation>
</identification>
<lifecycle source="#">
<eventRef refersTo="#made" date="2019-03-04" eId="date-made" source="#"/>
<eventRef refersTo="#laid" date="2019-03-06" eId="date-laid-1" source="#united-kingdom-parliament"/>
</lifecycle>
<analysis source="#">
<otherAnalysis source=""/>
</analysis>
<references source="#">
<TLCOrganization eId="united-kingdom-parliament" href="" showAs="UnitedKingdomParliament"/>
<TLCEvent eId="made" href="" showAs="Made"/>
<TLCEvent eId="laid" href="" showAs="Laid"/>
</references>
<proprietary xmlns:ukm="http://www.legislation.gov.uk/namespaces/metadata" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:dct="http://purl.org/dc/terms/" source="#">
<dc:identifier>http://www.legislation.gov.uk/uksi/2019/438/regulation/31/made</dc:identifier>
<dc:title>The South Sudan (Sanctions) (EU Exit) Regulations 2019</dc:title>
<dc:language>en</dc:language>
<dc:publisher>King's Printer of Acts of Parliament</dc:publisher>
<dc:modified>2019-06-13</dc:modified>
<dc:subject scheme="SIheading">EXITING THE EUROPEAN UNION</dc:subject>
<dc:subject scheme="SIheading">SANCTIONS</dc:subject>
<dc:description>These Regulations are made under the Sanctions and Anti-Money Laundering Act 2018 (c.13) to establish a sanctions regime in relation to South Sudan for the purposes of compliance with the United Kingdom’s United Nations obligations and promoting the peace, security and stability of South Sudan and related purposes. Following the United Kingdom’s withdrawal from the European Union, these Regulations also replace the European Union sanctions regime in relation to the situation in South Sudan, implemented via an EU Council Decision and Regulation.</dc:description>
<ukm:SecondaryMetadata>
<ukm:DocumentClassification>
<ukm:DocumentCategory Value="secondary"/>
<ukm:DocumentMainType Value="UnitedKingdomStatutoryInstrument"/>
<ukm:DocumentStatus Value="final"/>
<ukm:DocumentMinorType Value="regulation"/>
</ukm:DocumentClassification>
<ukm:Year Value="2019"/>
<ukm:Number Value="438"/>
<ukm:Made Date="2019-03-04"/>
<ukm:Laid Date="2019-03-06" Class="UnitedKingdomParliament"/>
<ukm:ISBN Value="9780111182772"/>
</ukm:SecondaryMetadata>
<ukm:Notes>
<ukm:Note IdURI="http://www.legislation.gov.uk/id/uksi/2019/438/notes"/>
<ukm:Alternatives>
<ukm:Alternative URI="http://www.legislation.gov.uk/uksi/2019/438/pdfs/uksiem_20190438_en.pdf" Date="2019-03-07" Title="UK Explanatory Memorandum" Size="124865"/>
</ukm:Alternatives>
</ukm:Notes>
<ukm:OtherDocuments>
<ukm:OtherDocument URI="http://www.legislation.gov.uk/uksi/2019/438/pdfs/uksiod_20190438_en_001.pdf" Date="2019-03-07" Title="REPORT UNDER SECTION 18 OF THE SANCTIONS AND ANTI-MONEY LAUNDERING ACT 2018 IN RELATION TO CRIMINAL OFFENCES " Size="103895"/>
<ukm:OtherDocument URI="http://www.legislation.gov.uk/uksi/2019/438/pdfs/uksiod_20190438_en.pdf" Date="2019-03-07" Title="REPORT UNDER SECTION 2(4) OF THE SANCTIONS AND ANTI-MONEY LAUNDERING ACT 2018" Size="104462"/>
</ukm:OtherDocuments>
<ukm:Alternatives>
<ukm:Alternative URI="http://www.legislation.gov.uk/uksi/2019/438/pdfs/uksi_20190438_en.pdf" Date="2019-03-07" Size="260905"/>
</ukm:Alternatives>
<ukm:Statistics>
<ukm:TotalParagraphs Value="95"/>
<ukm:BodyParagraphs Value="72"/>
<ukm:ScheduleParagraphs Value="23"/>
<ukm:AttachmentParagraphs Value="0"/>
<ukm:TotalImages Value="0"/>
</ukm:Statistics>
</proprietary>
</meta>
<body>
<part eId="part-6">
<num>PART 6</num>
<heading>Exceptions and licences</heading>
<hcontainer name="regulation" eId="regulation-31" uk:target="true">
<heading>Finance: exceptions from prohibitions</heading>
<num>31.</num>
<paragraph eId="regulation-31-1">
<num>(1)</num>
<intro>
<p>The prohibition in regulation 12 (asset-freeze in relation to designated persons) is not contravened by an independent person (“P”) transferring to another person a legal or equitable interest in funds or economic resources where, immediately before the transfer, the interest—</p>
</intro>
<level class="para1" eId="regulation-31-1-a">
<num>(a)</num>
<content>
<p>is held by P, and</p>
</content>
</level>
<level class="para1" eId="regulation-31-1-b">
<num>(b)</num>
<content>
<p>is not held jointly with the designated person.</p>
</content>
</level>
</paragraph>
<paragraph eId="regulation-31-2">
<num>(2)</num>
<intro>
<p>In paragraph (1) “independent person” means a person who—</p>
</intro>
<level class="para1" eId="regulation-31-2-a">
<num>(a)</num>
<content>
<p>is not the designated person, and</p>
</content>
</level>
<level class="para1" eId="regulation-31-2-b">
<num>(b)</num>
<content>
<p>is not owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person.</p>
</content>
</level>
</paragraph>
<paragraph eId="regulation-31-3">
<num>(3)</num>
<content>
<p>The prohibitions in regulations 12 to 14 (asset-freeze in relation to, and making funds available to, or for the benefit of, designated persons) are not contravened by a relevant institution crediting a frozen account with interest or other earnings due on the account.</p>
</content>
</paragraph>
<paragraph eId="regulation-31-4">
<num>(4)</num>
<content>
<p>The prohibitions in regulations 13 and 14 (making funds available to, or for the benefit of, designated persons) are not contravened by a relevant institution crediting a frozen account where it receives funds transferred to that institution for crediting to that account.</p>
</content>
</paragraph>
<paragraph eId="regulation-31-5">
<num>(5)</num>
<content>
<p>The prohibitions in regulations 13 and 14 are not contravened by the transfer of funds to a relevant institution for crediting to an account held or controlled (directly or indirectly) by a designated person, where those funds are transferred in discharge (or partial discharge) of an obligation which arose before the date on which the person became a designated person.</p>
</content>
</paragraph>
<paragraph eId="regulation-31-6">
<num>(6)</num>
<intro>
<p>The prohibitions in regulations 12 to 14 are not contravened in relation to a designated person (“P”) by a transfer of funds from account A to account B, where—</p>
</intro>
<level class="para1" eId="regulation-31-6-a">
<num>(a)</num>
<content>
<p>
account A is with a relevant institution which carries on an excluded activity within the meaning of section 142D of the Financial Services and Markets Act 2000
<authorialNote class="footnote" eId="f00015" marker="15">
<p>
<ref eId="c00012" href="http://www.legislation.gov.uk/id/ukpga/2000/8">2000 c.8</ref>
. Section 142D was inserted by the Financial Services (Banking Reform) Act
<ref eId="c00013" href="http://www.legislation.gov.uk/id/ukpga/2013/33">2013 (c.33)</ref>
, section 4(1).
</p>
</authorialNote>
,
</p>
</content>
</level>
<level class="para1" eId="regulation-31-6-b">
<num>(b)</num>
<content>
<p>
account B is with a ring-fenced body within the meaning of section 142A of the Financial Services and Markets Act 2000
<authorialNote class="footnote" eId="f00016" marker="16">
<p>Section 142A was inserted by the Financial Services (Banking Reform) Act 2013, section 4(1).</p>
</authorialNote>
, and
</p>
</content>
</level>
<level class="para1" eId="regulation-31-6-c">
<num>(c)</num>
<content>
<p>accounts A and B are held or controlled (directly or indirectly) by P.</p>
</content>
</level>
</paragraph>
<paragraph eId="regulation-31-7">
<num>(7)</num>
<intro>
<p>In this regulation—</p>
</intro>
<hcontainer name="definition">
<content>
<p>“designated person” has the same meaning as it has in Part 3 (Finance);</p>
</content>
</hcontainer>
<hcontainer name="definition">
<content>
<p>“frozen account” means an account with a relevant institution which is held or controlled (directly or indirectly) by a designated person;</p>
</content>
</hcontainer>
<hcontainer name="definition">
<content>
<p>
“relevant institution” means a person that has permission under Part 4A of the Financial Services and Markets Act 2000
<authorialNote class="footnote" eId="f00017" marker="17">
<p>
Part 4A was inserted by the Financial Services Act
<ref eId="c00014" href="http://www.legislation.gov.uk/id/ukpga/2012/21">2012 (c.21)</ref>
, section 11(2) and amended by
<ref eId="c00015" href="http://www.legislation.gov.uk/id/uksi/2018/135">S.I. 2018/135</ref>
.
</p>
</authorialNote>
(permission to carry on regulated activity).
</p>
</content>
</hcontainer>
</paragraph>
<paragraph eId="regulation-31-8">
<num>(8)</num>
<content>
<p>
The definition of “relevant institution” in paragraph (7) is to be read with section 22 of the Financial Services and Markets Act 2000
<authorialNote class="footnote" eId="f00018" marker="18">
<p>
Section 22 was amended by the Financial Guidance and Claims Act
<ref eId="c00016" href="http://www.legislation.gov.uk/id/ukpga/2018/10">2018 (c.10)</ref>
, section 27(4); the Financial Services Act 2012, section 7(1); and
<ref eId="c00017" href="http://www.legislation.gov.uk/id/uksi/2018/135">S.I. 2018/135</ref>
.
</p>
</authorialNote>
, any relevant order under that section
<authorialNote class="footnote" eId="f00019" marker="19">
<p>
<ref eId="c00018" href="http://www.legislation.gov.uk/id/uksi/2001/544">S.I. 2001/544</ref>
as most recently amended by
<ref eId="c00019" href="http://www.legislation.gov.uk/id/uksi/2018/1288">S.I. 2018/1288</ref>
and prospectively amended by
<ref eId="c00020" href="http://www.legislation.gov.uk/id/uksi/2018/1403">S.I. 2018/1403</ref>
.
</p>
</authorialNote>
and Schedule 2 to that Act
<authorialNote class="footnote" eId="f00020" marker="20">
<p>
Schedule 2 was amended by the Regulation of Financial Services (Land Transactions) Act
<ref eId="c00021" href="http://www.legislation.gov.uk/id/ukpga/2005/24">2005 (c.24)</ref>
, section 1; the Dormant Bank and Building Society Accounts Act
<ref eId="c00022" href="http://www.legislation.gov.uk/id/ukpga/2008/31">2008 (c.31)</ref>
, section 15 and Schedule 2, paragraph 1; the Financial Services Act 2012, sections 7(2) to (5) and 8; and
<ref eId="c00023" href="http://www.legislation.gov.uk/id/uksi/2013/1881">S.I. 2013/1881</ref>
; and it is prospectively amended by
<ref eId="c00024" href="http://www.legislation.gov.uk/id/uksi/2018/135">S.I. 2018/135</ref>
.
</p>
</authorialNote>
.
</p>
</content>
</paragraph>
</hcontainer>
</part>
</body>
</act>
</akomaNtoso>