PART 1General

Application of prohibitions and requirements outside the United KingdomI13

1

A United Kingdom person may contravene a relevant prohibition by conduct wholly or partly outside the United Kingdom.

2

Any person may contravene a relevant prohibition by conduct in the territorial sea.

3

In this Regulation, a “relevant prohibition” means any prohibition imposed by—

a

Part 3 (Finance),

b

Part 4 (Trade), or

c

a condition of a Treasury licence.

4

A United Kingdom person may comply, or fail to comply, with a relevant requirement by conduct wholly or partly outside the United Kingdom.

5

Any person may comply, or fail to comply, with a relevant requirement by conduct in the territorial sea.

6

In this regulation a “relevant requirement” means any requirement imposed—

a

by or under Part 6 (Information and records), or by reason of a request made under a power conferred by that Part, or

b

by a condition of a Treasury licence.

7

Nothing in this regulation is to be taken to prevent a relevant prohibition or a relevant requirement from applying to conduct (by any person) in the United Kingdom.