SCHEDULES

SCHEDULE 3Treasury licences: purposes

Regulation 32

F3PART 1Asset-freeze etc.

Annotations:
Amendments (Textual)

F4InterpretationI1I91

In this F7Part —

  • F8...

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

  • F8...

  • “frozen funds or economic resources” means funds or economic resources frozen by virtue of regulation 11, and any reference to a person's frozen funds or economic resources is to funds or economic resources frozen as a consequence of the designation of that person for the purpose of that regulation.

Basic needsI2I102

1

To enable the basic needs of a designated person, or (in the case of an individual) any dependent family member of such a person, to be met.

2

In the case of an individual in sub-paragraph (1), “basic needs” includes—

a

medical needs;

b

needs for—

i

food;

ii

F1payment of insurance premiums;

iii

F2payment of tax;

iv

rent or mortgage payments;

v

utility payments.

3

In the case of a person other than an individual in sub-paragraph (1), “basic needs” includes needs for—

a

payment of insurance premiums;

b

payment of reasonable fees for the provision of property management services;

c

payment of remuneration, allowances or pensions of employees;

d

payment of tax;

e

rent or mortgage payments;

f

utility payments.

4

In sub-paragraph (1)—

  • “dependent” means financially dependent;

  • “family member” includes—

    1. a

      the wife or husband of the designated person;

    2. b

      the civil partner of the designated person;

    3. c

      any parent or other ascendant of the designated person;

    4. d

      any child or other descendant of the designated person;

    5. e

      any person who is a brother or sister of the designated person, or a child or other descendant of such a person.

Legal servicesI3I113

To enable the payment of—

a

reasonable professional fees for the provision of legal services, or

b

reasonable expenses associated with the provision of legal services.

Maintenance of frozen funds and economic resourcesI4I124

To enable the payment of—

a

reasonable fees, or

b

reasonable service charges,

arising from the routine holding or maintenance of frozen funds or economic resources.

Extraordinary expensesI5I135

To enable an extraordinary expense of a designated person to be met.

Pre-existing judicial decisions etcI6I146

To enable, by the use of a designated person's frozen funds or economic resources, the implementation or satisfaction (in whole or in part) of a judicial, administrative or arbitral decision or lien, provided that—

a

the funds or economic resources so used are the subject of the decision or lien,

b

the decision or lien—

i

was made or established before the date on which the person became a designated person, and

ii

is enforceable in the United Kingdom, and

c

the use of the frozen funds or economic resources does not directly or indirectly benefit any other designated person.

F12Diplomatic missions etc.7

1

To enable anything to be done in order that the functions of a diplomatic mission or consular post in Belarus or of an international organisation enjoying immunities in accordance with international law may be carried out.

2

To enable anything to be done in order that the functions of a diplomatic mission or consular post of Belarus in the United Kingdom may be carried out.

Extraordinary situationI7I158

To enable anything to be done to deal with an extraordinary situation.

Prior obligationsI8I169

To enable, by the use of a designated person's frozen funds or economic resources, the satisfaction of an obligation of that person (whether arising under a contract, other agreement or otherwise), provided that—

a

the obligation arose before the date on which the person became a designated person, and

b

no payments are made to another designated person, whether directly or indirectly.

F5Humanitarian assistance activity10

To enable anything to be done in connection with the performance of any humanitarian assistance activity.

F9Medical goods or services10A

1

To enable anything to be done in connection with the provision of medical goods or services for the benefit of the civilian population of a country.

2

To enable the import, export or use of medical goods.

3

In paragraphs (1) and (2), “medical goods” includes medicines and medical devices.

Food10B

To enable anything to be done in connection with the production or distribution of food for the benefit of the civilian population of a country.

F6PART 2Loans and credit

Annotations:
Amendments (Textual)

Humanitarian assistance activity11

To enable anything to be done in connection with the performance of any humanitarian assistance activity.

Nuclear safety12

To enable anything to be done for the purposes of nuclear safety.

Extraordinary situation13

To enable anything to be done to deal with an extraordinary situation.

F13Diplomatic missions etc.14

1

To enable anything to be done in order that the functions of a diplomatic mission or consular post in Belarus or of an international organisation enjoying immunities in accordance with international law may be carried out.

2

To enable anything to be done in order that the functions of a diplomatic mission or consular post of Belarus in the United Kingdom may be carried out.

F10Medical goods or services14A

1

To enable anything to be done in connection with the provision of medical goods or services for the benefit of the civilian population of a country.

2

To enable the import, export or use of medical goods.

3

In paragraphs (1) and (2), “medical goods” includes medicines and medical devices.

Food14B

To enable anything to be done in connection with the production or distribution of food for the benefit of the civilian population of a country.

PART 3Insurance and reinsurance

Humanitarian assistance activity15

To enable anything to be done in connection with the performance of any humanitarian assistance activity.

Nuclear safety16

To enable anything to be done for the purposes of nuclear safety.

Extraordinary situation17

To enable anything to be done to deal with an extraordinary situation.

F11Medical goods or services18

1

To enable anything to be done in connection with the provision of medical goods or services for the benefit of the civilian population of a country.

2

To enable the import, export or use of medical goods.

3

In paragraphs (1) and (2), “medical goods” includes medicines and medical devices.

Food19

To enable anything to be done in connection with the production or distribution of food for the benefit of the civilian population of a country.

F11PART 4Foreign exchange reserve and asset management services

Humanitarian assistance activity20

To enable anything to be done in connection with the performance of any humanitarian assistance activity.

Financial regulation21

1

To enable anything to be done by, or on behalf of, a relevant financial authority for the purposes of the functions of that authority.

2

In sub-paragraph (1), “relevant financial authority” means authorities involved in the regulation of financial services in the United Kingdom, including the Financial Conduct Authority, the Prudential Regulation Authority and the Bank of England.

Financial stability22

To enable anything to be done by a person, following consultation by that person (or a person acting on their behalf) with the Bank of England, that is necessary or expedient in order to protect or enhance the stability of the financial system of the United Kingdom.

Safety and soundness of a firm23

To enable anything to be done by a person, following consultation by that person (or a person acting on their behalf) with the relevant supervising authority or authorities, that is necessary or expedient in order to promote the safety and soundness of a firm which is supervised by the Bank of England, the Prudential Regulation Authority or the Financial Conduct Authority.

Extraordinary situation24

To enable anything to be done to deal with an extraordinary situation.