Reg. 12 not in force at made date, see reg. 1(2)

Reg. 12 in force at 31.12.2020 by S.I. 2020/1514, reg. 24(2)

http://www.legislation.gov.uk/uksi/2020/1474/regulation/12The Unauthorised Drilling Activities in the Eastern Mediterranean (Sanctions) (EU Exit) Regulations 2020texttext/xmlenEXITING THE EUROPEAN UNIONSANCTIONSStatute Law Database2024-08-19Expert Participation2024-05-16These Regulations are made under the Sanctions and Anti-Money Laundering Act 2018 (c.13) to establish a sanctions regime for the purposes of discouraging any hydrocarbon exploration, production or extraction activity which has not been authorised by the Republic of Cyprus within its territorial sea or in its exclusive economic zone or on its continental shelf including, in cases where the exclusive economic zone or continental shelf has not been delimited in accordance with international law with a State having an opposite coast, activities which may jeopardise or hamper the reaching of a delimitation agreement.PART 3Finance12Making funds available to designated persons1

A person (ā€œPā€) must not make funds available directly or indirectly to a designated person if P knows, or has reasonable cause to suspect, that P is making the funds so available.

2

Paragraph (1) is subject to Part 5 (Exceptions and licences).

3

A person who contravenes the prohibition in paragraph (1) commits an offence.

4

The reference in paragraph (1) to making funds available indirectly to a designated person includes, in particular, a reference to making them available to a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person.

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<ref href="http://www.legislation.gov.uk/id/uksi/2020/1474/regulation/12">Reg. 12</ref>
in force at 31.12.2020 by
<ref href="http://www.legislation.gov.uk/id/uksi/2020/1514">S.I. 2020/1514</ref>
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<ref href="http://www.legislation.gov.uk/id/uksi/2020/1514/regulation/24/2">reg. 24(2)</ref>
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12
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