The Venezuela (Sanctions) (Overseas Territories) Order 2020 No. 1262

SCHEDULE 2 Modifications to be made in the extension of the Venezuela (Sanctions) (EU Exit) Regulations 2019 to each British overseas territory listed in Schedule 1

60.  In Schedule 4 (Treasury licences: purposes)—

(a) in the heading, for “Treasury licences” substitute “Financial sanctions licences”;

(b) in the shoulder note, for “Regulation 35(2)” substitute “Regulation 35(3)”;

(c) in the definition of “frozen funds or economic resources” in paragraph 1, for “the designation of that person for the purpose of that regulation” substitute “that person being a designated person for the purposes of Part 3 (Finance) as defined in regulation 10 (meaning of “designated person” in Part 3)”;

(d) in paragraph 6(b)(ii) (pre-existing judicial decisions etc), for “United Kingdom” substitute “Territory”.