http://www.legislation.gov.uk/uksi/2022/819/regulation/4/madeThe Sanctions (EU Exit) (Miscellaneous Amendments) Regulations 2022enKing's Printer of Acts of Parliament2023-02-14SANCTIONSThese Regulations are made under the Sanctions and Anti-Money Laundering Act 2018 (c. 13) (“the Sanctions Act”).Amendment of the South Sudan (Sanctions) (EU Exit) Regulations 20194.(1)

The South Sudan (Sanctions) (EU Exit) Regulations 2019

S.I. 2019/438, amended by S.I. 2020/591; and S.I. 2020/950.

are amended as follows.

(2)

In regulation 40 (finance reporting obligations: meaning of relevant firm)—

(a)

after paragraph (1)(g) insert—(h)

a cryptoasset exchange provider;

(i)

a custodian wallet provider.

;

(b)

after paragraph (3) insert—(3A)

In paragraph (1), a “cryptoasset exchange provider” means a firm or sole practitioner that by way of business provides one or more of the following services, including where the firm or sole practitioner does so as creator or issuer of any of the cryptoassets involved—

(a)

exchanging, or arranging or making arrangements with a view to the exchange of, cryptoassets for money or money for cryptoassets,

(b)

exchanging, or arranging or making arrangements with a view to the exchange of, one cryptoasset for another, or

(c)

operating a machine which utilises automated processes to exchange cryptoassets for money or money for cryptoassets.

(3B)

In paragraph (1), a “custodian wallet provider” means a firm or sole practitioner that by way of business provides services to safeguard, or to safeguard and administer—

(a)

cryptoassets on behalf of its customers, or

(b)

private cryptographic keys on behalf of its customers in order to hold, store and transfer cryptoassets.

(3C)

For the purposes of this regulation—

(a)

cryptoasset” means a cryptographically secured digital representation of value or contractual rights that uses a form of distributed ledger technology and can be transferred, stored or traded electronically;

(b)

money” means—

(i)

money in sterling,

(ii)

money in any other currency, or

(iii)

money in any other medium of exchange,

but does not include a cryptoasset; and

(c)

in sub-paragraphs (a) to (c) of paragraph (3A), “cryptoasset” includes a right to, or interest in, the cryptoasset.

.

(3)

After regulation 47 (disclosure of information) insert—

Finance: disclosure to the Treasury47A.(1)

A relevant public authority may disclose information to the Treasury if the disclosure is made for the purpose of enabling or assisting the Treasury to discharge any of its functions in connection with sanctions.

(2)

In this regulation—

relevant public authority” means—

(a)

any person holding or acting in any office under or in the service of—

(i)

the Crown in right of the Government of the United Kingdom,

(ii)

the Crown in right of the Scottish Government, the Northern Ireland Executive or the Welsh Government,

(b)

any local authority,

(c)

any police officer,

(d)

the Financial Conduct Authority, the Prudential Regulation Authority, the Bank of England or any other regulatory body in the United Kingdom, or

(e)

any other person exercising functions of a public nature;

local authority” means—

(a)

in relation to England—

(i)

a county council,

(ii)

a district council,

(iii)

a London Borough council,

(iv)

the Common Council of the City of London in its capacity as a local authority,

(v)

the Council of the Isles of Scilly, or

(vi)

an eligible parish council within the meaning of section 1(2) of the Local Government Act 2000

2000 c. 22.

,

(b)

in relation to Wales, a county council, a county borough council or a community council,

(c)

in relation to Scotland, a council constituted under section 2 of the Local Government etc. (Scotland) Act 1994

1994 c. 39.

, or

(d)

in relation to Northern Ireland, a district council.

.

(4)

In regulation 48 (Part 7: Supplementary)—

(a)

in paragraph (1), after “under regulation 47” insert “or 47A”;

(b)

in paragraph (2), for “that regulation” substitute “those regulations”;

(c)

in paragraph (4)—

(i)

for “Regulation 47 does” substitute “Regulations 47 and 47A do”;

(ii)

for “that regulation” substitute “those regulations”.

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<heading>Amendment of the South Sudan (Sanctions) (EU Exit) Regulations 2019</heading>
<num>4.</num>
<paragraph eId="regulation-4-1">
<num>(1)</num>
<content>
<p>
The South Sudan (Sanctions) (EU Exit) Regulations 2019
<authorialNote class="footnote" eId="f00009" marker="9">
<p>
<ref eId="c00047" href="http://www.legislation.gov.uk/id/uksi/2019/438">S.I. 2019/438</ref>
, amended by
<ref eId="c00048" href="http://www.legislation.gov.uk/id/uksi/2020/591">S.I. 2020/591</ref>
; and
<ref eId="c00049" href="http://www.legislation.gov.uk/id/uksi/2020/950">S.I. 2020/950</ref>
.
</p>
</authorialNote>
are amended as follows.
</p>
</content>
</paragraph>
<paragraph eId="regulation-4-2">
<num>(2)</num>
<intro>
<p>In regulation 40 (finance reporting obligations: meaning of relevant firm)—</p>
</intro>
<level class="para1" eId="regulation-4-2-a">
<num>(a)</num>
<content>
<p>
<mod>
after paragraph (1)(g) insert—
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<num>(h)</num>
<content>
<p>a cryptoasset exchange provider;</p>
</content>
</level>
<level class="para1">
<num>(i)</num>
<content>
<p>a custodian wallet provider.</p>
</content>
</level>
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<num>(b)</num>
<content>
<p>
<mod>
after paragraph (3) insert—
<quotedStructure startQuote="" endQuote="" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="double">
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<num>(3A)</num>
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<p>
In paragraph (1), a “
<term refersTo="#term-cryptoasset-exchange-provider">cryptoasset exchange provider</term>
” means a firm or sole practitioner that by way of business provides one or more of the following services, including where the firm or sole practitioner does so as creator or issuer of any of the cryptoassets involved—
</p>
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<level class="para1">
<num>(a)</num>
<content>
<p>exchanging, or arranging or making arrangements with a view to the exchange of, cryptoassets for money or money for cryptoassets,</p>
</content>
</level>
<level class="para1">
<num>(b)</num>
<content>
<p>exchanging, or arranging or making arrangements with a view to the exchange of, one cryptoasset for another, or</p>
</content>
</level>
<level class="para1">
<num>(c)</num>
<content>
<p>operating a machine which utilises automated processes to exchange cryptoassets for money or money for cryptoassets.</p>
</content>
</level>
</paragraph>
<paragraph>
<num>(3B)</num>
<intro>
<p>
In paragraph (1), a “
<term refersTo="#term-custodian-wallet-provider">custodian wallet provider</term>
” means a firm or sole practitioner that by way of business provides services to safeguard, or to safeguard and administer—
</p>
</intro>
<level class="para1">
<num>(a)</num>
<content>
<p>cryptoassets on behalf of its customers, or</p>
</content>
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<level class="para1">
<num>(b)</num>
<content>
<p>private cryptographic keys on behalf of its customers in order to hold, store and transfer cryptoassets.</p>
</content>
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</paragraph>
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<intro>
<p>For the purposes of this regulation—</p>
</intro>
<level class="para1">
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<content>
<p>
<term refersTo="#term-cryptoasset">cryptoasset</term>
” means a cryptographically secured digital representation of value or contractual rights that uses a form of distributed ledger technology and can be transferred, stored or traded electronically;
</p>
</content>
</level>
<level class="para1">
<num>(b)</num>
<intro>
<p>
<term refersTo="#term-money">money</term>
” means—
</p>
</intro>
<level class="para2">
<num>(i)</num>
<content>
<p>money in sterling,</p>
</content>
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<level class="para2">
<num>(ii)</num>
<content>
<p>money in any other currency, or</p>
</content>
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<level class="para2">
<num>(iii)</num>
<content>
<p>money in any other medium of exchange,</p>
</content>
</level>
<wrapUp>
<p>but does not include a cryptoasset; and</p>
</wrapUp>
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<content>
<p>
in sub-paragraphs (a) to (c) of paragraph (3A), “
<term refersTo="#term-cryptoasset">cryptoasset</term>
” includes a right to, or interest in, the cryptoasset.
</p>
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After regulation 47 (disclosure of information) insert—
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<num>47A.</num>
<paragraph>
<num>(1)</num>
<content>
<p>A relevant public authority may disclose information to the Treasury if the disclosure is made for the purpose of enabling or assisting the Treasury to discharge any of its functions in connection with sanctions.</p>
</content>
</paragraph>
<paragraph>
<num>(2)</num>
<intro>
<p>In this regulation—</p>
</intro>
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<term refersTo="#term-relevant-public-authority">relevant public authority</term>
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</p>
</intro>
<level class="para1">
<num>(a)</num>
<content>
<p>any person holding or acting in any office under or in the service of—</p>
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</item>
<item>
<num>(ii)</num>
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</item>
</blockList>
</content>
</level>
<level class="para1">
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<content>
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</content>
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<level class="para1">
<num>(c)</num>
<content>
<p>any police officer,</p>
</content>
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<level class="para1">
<num>(d)</num>
<content>
<p>the Financial Conduct Authority, the Prudential Regulation Authority, the Bank of England or any other regulatory body in the United Kingdom, or</p>
</content>
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<level class="para1">
<num>(e)</num>
<content>
<p>any other person exercising functions of a public nature;</p>
</content>
</level>
</hcontainer>
<hcontainer name="definition">
<intro>
<p>
<term refersTo="#term-local-authority">local authority</term>
” means—
</p>
</intro>
<level class="para1">
<num>(a)</num>
<content>
<p>in relation to England—</p>
<blockList class="ordered roman parens" ukl:Name="OrderedList" ukl:Type="roman" ukl:Decoration="parens">
<item>
<num>(i)</num>
<p>a county council,</p>
</item>
<item>
<num>(ii)</num>
<p>a district council,</p>
</item>
<item>
<num>(iii)</num>
<p>a London Borough council,</p>
</item>
<item>
<num>(iv)</num>
<p>the Common Council of the City of London in its capacity as a local authority,</p>
</item>
<item>
<num>(v)</num>
<p>the Council of the Isles of Scilly, or</p>
</item>
<item>
<num>(vi)</num>
<p>
an eligible parish council within the meaning of section 1(2) of the Local Government Act 2000
<authorialNote class="footnote" eId="f00010" marker="10">
<p>
<ref eId="c00050" href="http://www.legislation.gov.uk/id/ukpga/2000/22">2000 c. 22</ref>
.
</p>
</authorialNote>
,
</p>
</item>
</blockList>
</content>
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<level class="para1">
<num>(b)</num>
<content>
<p>in relation to Wales, a county council, a county borough council or a community council,</p>
</content>
</level>
<level class="para1">
<num>(c)</num>
<content>
<p>
in relation to Scotland, a council constituted under section 2 of the Local Government etc. (Scotland) Act 1994
<authorialNote class="footnote" eId="f00011" marker="11">
<p>
<ref eId="c00051" href="http://www.legislation.gov.uk/id/ukpga/1994/39">1994 c. 39</ref>
.
</p>
</authorialNote>
, or
</p>
</content>
</level>
<level class="para1">
<num>(d)</num>
<content>
<p>in relation to Northern Ireland, a district council.</p>
</content>
</level>
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<inline name="appendText">.</inline>
</mod>
</p>
</content>
</paragraph>
<paragraph eId="regulation-4-4">
<num>(4)</num>
<intro>
<p>In regulation 48 (Part 7: Supplementary)—</p>
</intro>
<level class="para1" eId="regulation-4-4-a">
<num>(a)</num>
<content>
<p>
<mod>
in paragraph (1), after “under regulation 47” insert
<quotedText>“or 47A”</quotedText>
;
</mod>
</p>
</content>
</level>
<level class="para1" eId="regulation-4-4-b">
<num>(b)</num>
<content>
<p>
<mod>
in paragraph (2), for “that regulation” substitute
<quotedText>“those regulations”</quotedText>
;
</mod>
</p>
</content>
</level>
<level class="para1" eId="regulation-4-4-c">
<num>(c)</num>
<intro>
<p>in paragraph (4)—</p>
</intro>
<level class="para2" eId="regulation-4-4-c-i">
<num>(i)</num>
<content>
<p>
<mod>
for “Regulation 47 does” substitute
<quotedText>“Regulations 47 and 47A do”</quotedText>
;
</mod>
</p>
</content>
</level>
<level class="para2" eId="regulation-4-4-c-ii">
<num>(ii)</num>
<content>
<p>
<mod>
for “that regulation” substitute
<quotedText>“those regulations”</quotedText>
.
</mod>
</p>
</content>
</level>
</level>
</paragraph>
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