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The Misappropriation (Sanctions) (EU Exit) Regulations 2020

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Status:

This is the original version (as it was originally made).

Transitional provision: prior obligations etc.

This section has no associated Explanatory Memorandum

40.—(1) Where—

(a)a person was named in—

(i)Annex I to the EU Tunisia Regulation,

(ii)Annex I to the EU Egypt Regulation, or

(iii)Annex I to the EU Ukraine Regulation,

immediately before the relevant date, and

(b)the person is a designated person immediately before the relevant date,

any reference in a provision mentioned in paragraph (2) to the date on which a person became a designated person is a reference to the date on which the person was so named.

(2) The provisions referred to in paragraph (1) are—

(a)regulation 18(5) (finance: exceptions from prohibitions), and

(b)paragraphs 6(b)(i) and 10(a) of Schedule 2 (Treasury licences: purposes).

(3) In this regulation—

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

“the EU Egypt Regulation” has the meaning given in regulation 39(7);

“the EU Tunisia Regulation” has the meaning given in regulation 39(7);

“the EU Ukraine Regulation” has the meaning given in regulation 39(7);

“the relevant date” means—

(a)

where regulations under section 56 of the Act provide that Part 3 comes into force at a specified time on a day, that time on that day, and

(b)

otherwise, the date on which Part 3 comes into force.

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