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7.—(1) For the purposes of regulation 6, a person who is not an individual (“C”) is “owned or controlled directly or indirectly” by another person (“P”) if either of the following two conditions is met (or both are met).
(2) The first condition is that P—
(a)holds directly or indirectly more than 50% of the shares in C,
(b)holds directly or indirectly more than 50% of the voting rights in C, or
(c)holds the right directly or indirectly to appoint or remove a majority of the board of directors of C.
(3) Schedule 1 contains provision applying for the purpose of interpreting paragraph (2).
(4) The second condition is that it is reasonable, having regard to all the circumstances, to expect that P would (if P chose to) be able, in most cases or in significant respects, by whatever means and F1... whether directly or indirectly, to achieve the result that affairs of C are conducted in accordance with P's wishes.
(5) For the purposes of regulation 6(2)(d), the reference to a person who is “associated” with another person includes, in particular, a person who is a family member of Bashar al-Assad or Rami Makhlouf.
(6) The following definitions apply for the purposes of this regulation and regulation 6—
“family member” has the same meaning as it has in paragraph 2(4) in Part 2 of Schedule 6 (Treasury licences: purposes);
“militia” means a foreign, national or local armed group that is not part of the Syrian Armed Forces or the Syrian security and intelligence services;
“
” means—developing, producing, acquiring, stockpiling or retaining chemical weapons,
transferring, directly or indirectly, chemical weapons to any person,
using chemical weapons,
engaging in any military preparations to use chemical weapons, and
providing assistance to, encouraging or inducing any person to engage in any activity falling within sub-paragraphs (a) to (d).
Textual Amendments
F1Comma in reg. 7(4) omitted (31.12.2020 immediately after IP completion day) by virtue of The Sanctions (EU Exit) (Miscellaneous Amendments) (No. 2) Regulations 2020 (S.I. 2020/590), regs. 1(2), 9(4); S.I. 2020/1514, reg. 4
Commencement Information
I1Reg. 7 in force at 6.4.2019, see reg. 1(2)(f)