Amendment of the Republic of Belarus (Sanctions) (Overseas Territories) Order 2020
26. In paragraph 19, in the text of regulation 32 (financial sanctions licences)—
(a)after paragraph (1) insert—
“(1A) The prohibitions in regulation 15A (dealing with transferable securities and money market instruments) do not apply to anything done under the authority of a licence issued by the Governor under this paragraph.”;
(b)after paragraph (3), insert—
“(3A) The prohibition in regulation 15CA (provision of financial services relating to foreign exchange reserve and asset management) does not apply to anything done under the authority of a licence issued by the Governor under this paragraph.
(3B) Without prejudice to the generality of the powers conferred by paragraphs (1) to (3A), a licence issued by the Governor under those paragraphs may, in particular, authorise acts which would otherwise be prohibited by any of regulations 11 to 15CA (financial restrictions) for a particular period beginning with—
(a)the coming into force of the prohibition, or
(b)where the prohibition relates to a person designated for the purposes of regulations 11 to 15 (asset-freeze etc.), the date on which the person was designated.”;
(c)after paragraph (7), insert—
“(8) The Governor may issue a licence under regulation 32(3A) which authorises acts by a particular person only where the Governor considers that it is appropriate to issue the licence for a purpose set out in Part 4 of Schedule 3.”