Transitional provision: prior obligationsU.K.
86.—(1) Where—
(a)a person was named in Annex I of the EU Somalia Regulation 2 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 (3) to the date on which a person became a designated person is to be read as a reference to the date on which the person was so named.
(2) Where, immediately before the relevant date, a person was named by the Security Council or the Committee for the purposes of paragraph 3 of resolution 1844, any reference in a provision mentioned in paragraph (3) to the date on which a person became a designated person is to be read as a reference to the date on which the person was so named.
(3) The provisions referred to in paragraphs (1) and (2) are—
(a)regulation 43(5) (finance: exceptions from prohibitions), and
(b)paragraph 6(b)(i) of Schedule 3 (Treasury licences: purposes).
(4) In this regulation—
“designated person” has the same meaning as it has in Part 3 (Finance);
“the relevant date” means—
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;
otherwise, the date on which Part 3 comes into force.
Commencement Information
I1Reg. 86 in force at 31.12.2020 by S.I. 2020/1514, reg. 12(2)