Amendment of regulation 64 (Treasury licences)

16.  In regulation 64—

(a) in paragraph (1), after “18B (investments in relation to Russia)”, insert “, 18C (trust services)”;

(b) in paragraph (1A)—

(i) in the opening words, for “18B” substitute “18C”;

(ii) in sub-paragraph (b), for “or regulation 17A” substitute “regulation 17A or regulation 18C”;

(c) in paragraph (2), after sub-paragraph (d)—

(i) omit “and”;

(ii) insert—

“(da) in the case of acts which would otherwise be prohibited by regulation 18C (trust services), where the Treasury consider that it is appropriate to issue the licence for a purpose set out in Part 3A of Schedule 5, and”.