Exceptions relating to investments in relation to Crimea
This section has no associated Explanatory Memorandum
60.—(1) The prohibitions in regulation 18 (investments in relation to Crimea) are not contravened by any act done by a person (“P”) in satisfaction of an obligation of P arising under a contract concluded before 20 December 2014, or an ancillary contract necessary for the satisfaction of such a contract, provided that P has notified the Treasury no later than the day five working days before the day on which the act is carried out.
(2) The prohibitions in regulation 18 are not contravened by activities carried on by a person with entities outside Crimea where the related investment is not destined for an entity in Crimea.