Investments in relation to [F1non-government controlled Ukrainian territory] U.K.
18.—(1) A person (“P”) must not carry on an activity mentioned in paragraph (2) if P knows, or has reasonable cause to suspect, that P is carrying on such an activity.
(2) The activities in this paragraph are—
(a)directly or indirectly acquiring or extending a participation, or acquiring any ownership interest, in land located in [F2non-government controlled Ukrainian territory];
(b)directly or indirectly acquiring or extending a participation, or acquiring any ownership interest in or control over, a relevant entity;
(c)directly or indirectly granting any loan or credit, entering into any arrangement to grant any loan or credit, or otherwise providing funds, including for example equity capital—
(i)to a relevant entity, or
(ii)for the documented purpose of financing any such entity;
(d)directly or indirectly establishing any joint venture—
(i)in [F2non-government controlled Ukrainian territory], or
(ii)with a relevant entity;
(e)providing investment services directly related to an activity referred to in sub-paragraphs (a) to (d) above.
(3) Paragraph (1) is subject to Part 7 (Exceptions and licences).
(4) A person who contravenes a prohibition in paragraph (1) commits an offence.
(5) In this regulation—
“investment services” has the same meaning as it has in regulation 16;
“relevant entity” means a person, other than an individual, which has a place of business located in [F3non-government controlled Ukrainian territory].
Textual Amendments
F1Words in reg. 18 heading substituted (30.3.2022 at 5.00 p.m.) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 7) Regulations 2022 (S.I. 2022/395), regs. 1(2), 10(a)
F2Words in reg. 18(2) substituted (30.3.2022 at 5.00 p.m.) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 7) Regulations 2022 (S.I. 2022/395), regs. 1(2), 10(b)
F3Words in reg. 18(5) substituted (30.3.2022 at 5.00 p.m.) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 7) Regulations 2022 (S.I. 2022/395), regs. 1(2), 10(b)
Commencement Information
I1Reg. 18 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)