Amendment of regulation 64 (Treasury licences)
This section has no associated Explanatory Memorandum
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”.