Finance: exception for authorised conduct in a relevant countryU.K.
This section has no associated Explanatory Memorandum
21.—(1) Where a person's conduct in a relevant country would, in the absence of this regulation, contravene a prohibition in any of regulations 11 to 15 (asset-freeze etc.) (“the relevant prohibition”), the relevant prohibition is not contravened if the conduct is authorised by a licence or other authorisation which is—
(a)issued under the law of the relevant country; and
(b)for the purpose of disapplying a prohibition in that jurisdiction which corresponds to the relevant prohibition.
(2) In this regulation, “relevant country” means—
(a)any of the Channel Islands;
(b)the Isle of Man;
(c)any British overseas territory.
Commencement Information
I1Reg. 21 in force at 1pm on 6.7.2020, see reg. 1(2)