c

is issued—

i

after the date on which the Amendment Regulations 2021 come into force, and

ii

before the Amendment Regulations 2022 come into force.

2A

A person (“P”) must not, directly or indirectly, deal with a transferable security or money-market instrument falling within paragraphs (2B) or (2C) if P knows, or has reasonable cause to suspect, that P is dealing with such a transferable security or money-market instrument.

2B

A transferable security or money-market instrument falls within this paragraph if it is issued after the Amendment Regulations 2022 come into force by a relevant person.

2C

A transferable security or money-market instrument falls within this paragraph if it is issued after the Amendment Regulations 2022 come into force by—

a

a person connected with Belarus, which is not—

i

a relevant person,

ii

a person, other than an individual, which on the date on which the Amendment Regulations 2022 come into force is domiciled in a country other than Belarus, or

iii

a person which on the date on which the Amendment Regulations 2022 come into force is a branch or subsidiary, wherever located, of a person mentioned in paragraph (ii);

b

a person, other than an individual, which is majority owned by a person falling within sub-paragraph (a).

3

Paragraphs (1) and (2A) are subject to Part 6 (Exceptions and licences).