The Central African Republic (Sanctions) (EU Exit) Regulations 2020 S.I. 2020/616, amended by the Sentencing Act 2020, Schedule 24, paragraph 446(1); and by S.I. 2020/950, 2022/500, 2022/819, 2023/121, 2023/149, 2024/644.
The reference in paragraph (1) to making funds available to any person for the benefit of a designated person includes making funds available for the benefit of a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person (and references to designated person in paragraph (4) are to be read accordingly).
The reference in paragraph (1) to making economic resources available to any person for the benefit of a designated person includes making economic resources available for the benefit of a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person (and references to designated person in paragraph (4) are to be read accordingly).
For the purposes of paragraphs (1)(b), (5) and (6) and the definition of “frozen account” in paragraph (7), references to a designated person are to be read as including a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person. When determining for the purposes of paragraph (5) when a person (“
This regulation applies to required payments within the meaning of paragraph (2). A required payment is a payment which— a non-UN designated person is required to make under or by virtue of any enactment to— the registrar of companies, the Commissioners, the Welsh Revenue Authority, Revenue Scotland, the Financial Conduct Authority, the Secretary of State, the Welsh Ministers, the Department of Finance in Northern Ireland, or a local authority, and is not an excluded payment. The prohibitions in regulations 12 (asset-freeze in relation to designated persons) and 14 (making funds available for benefit of designated persons) are not contravened by a person making a required payment. Where a required payment is made by a person other than a non-UN designated person, the prohibition in regulation 12 is not contravened by the non-UN designated person making a reimbursement payment to that person. The reference in paragraph (3) to a person making a required payment— does not include a UN designated person, and only includes a non-UN designated person where they are making a required payment on their own behalf. The following payments are to be treated as payments which a non-UN designated person is required to make under or by virtue of an enactment for the purposes of this regulation, where made by a non-UN designated person on their own behalf or by a person, other than a designated person, on behalf of a non-UN designated person— a payment to the Financial Conduct Authority of a levy imposed by the scheme manager of the Financial Services Compensation Scheme by virtue of section 213 of the Financial Services and Markets Act 2000 (the compensation scheme); a payment to the Financial Conduct Authority which is collected by that Authority on behalf of the Financial Reporting Council Limited. For the purposes of this regulation— references to a non-UN designated person are to be read as including a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the non-UN designated person, the reference in paragraph (5) to a UN designated person is to be read as including a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the UN designated person, and the reference in paragraph (6) to a designated person is to be read as including a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person. In this regulation— “ “ “ “ “ the registrar of companies, a payment of fees for— the incorporation of a firm; the restoration of a firm to a register which is administered by the registrar; the Financial Conduct Authority, a payment of fees for— an application for permission from, authorisation by, registration with or recognition from the Financial Conduct Authority which relates to the carrying on of any activity falling within any function of the Financial Conduct Authority; an application for a variation of such permission, authorisation, registration or recognition; an application for listing or for eligibility for listing; an application for review or approval of a document relating to listing; an application for approval as a sponsor or primary information provider; an application for review or approval of— a document under the prospectus rules or the prospectus regulation; listing particulars under section 79 of the Financial Services and Markets Act 2000 or supplementary listing particulars under section 81 of that Act; the Secretary of State or the Welsh Ministers, a payment that a non-UN designated person is required to make under or by virtue of an enactment other than a payment under or by virtue of Part 3 of the Local Government Finance Act 1988; the Department of Finance in Northern Ireland, a payment that a non-UN designated person is required to make under or by virtue of an enactment other than a payment under or by virtue of Part 2 of the Rates (Northern Ireland) Order 1977; a local authority, a payment that a non-UN designated person is required to make under or by virtue of an enactment other than a payment under or by virtue of— Part 1 of the Local Government (Scotland) Act 1975; Part 3 of the Local Government Finance Act 1988; Parts 1 and 2 of the Local Government Finance Act 1992; Part 4 of the Local Government Act 2003; Part 9 of the Planning etc. (Scotland) Act 2006; the Business Rate Supplements Act 2009; the Business Improvement Districts Act (Northern Ireland) 2013; “ “ “ in relation to England— a district council; a county council for any area for which there is no district council; a London borough council; the Common Council of the City of London in its capacity as a local authority; the Council of the Isles of Scilly; in relation to Wales, a county council or a county borough council; in relation to Scotland, a council constituted under section 2 of the Local Government etc. (Scotland) Act 1994 or a person appointed by such a council for the purposes of the administration, collection and recovery of a BID levy; in relation to Northern Ireland, a district council; “ who is designated under regulation 5 for the purposes of regulations 12 to 16 (asset-freeze etc.), and whose designation, in the opinion of the Secretary of State, is not required by a provision mentioned in regulation 4(3); “ “ “ “ “ “ “ “ a person who is a designated person for the purposes of regulations 12 to 16 by reason of regulation 10 (designation of persons named by or under UN Security Council resolutions), or a person who is designated under regulation 5 (power to designate persons) for the purposes of regulations 12 to 16 and whose designation is (in the opinion of the Secretary of State) required by a provision mentioned in regulation 4(3).
The reference in paragraph (2) to a non-UN designated person is to be read as including a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the non-UN designated person. The reference in paragraph (3) to a UN designated person is to be read as including a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the UN designated person.
In regulation 35(6) (licences: general provisions)—
In regulation 39 (finance: reporting obligations)—
Where a person (“ Where a report has been provided further to paragraph (4A) but as of 30th September in the following calendar year P no longer holds funds or economic resources owned, held or controlled by the designated person, P must by no later than 30th November in that calendar year report this to the Treasury. For the purposes of paragraphs (4A) and (4B), funds or economic resources are to be treated as owned, held or controlled by a designated person if they are owned, held or controlled by a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person.
A person commits an offence if that person, without reasonable excuse, fails to comply with a requirement in paragraph (4A) or (4B).
A non-UN designated person must inform the Treasury without delay if they make a required payment. A person who makes a required payment on behalf of a non-UN designated person must inform the Treasury without delay that they have made the required payment. A person must inform the Treasury without delay if they receive a reimbursement payment. For the purposes of this regulation, references to a non-UN designated person are to be read as including a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the non-UN designated person. In this regulation— “ “ “
In regulation 40 (“relevant firm”)—
a high value dealer; an art market participant; an insolvency practitioner; a firm or sole practitioner (“
In paragraph (1), a “ In paragraph (1), an “ A firm or sole practitioner is not an art market participant for the purposes of paragraph (3E) in relation to the sale or storage of a work of art which is created by, or is attributable to, a member of the firm or the sole practitioner. For the purposes of this regulation, “ In paragraph (1), an “ In paragraph (1), “ consisting of things done in response to instructions received from— a person (a “prospective landlord”) seeking to find another person to whom to let land for a term of a month or more, or a person (a “prospective tenant”) seeking to find land to rent for a term of a month or more, and done— in relation to a prospective landlord, from the point that the prospective landlord instructs P, or otherwise in the course of concluding an agreement for the letting of land for a term of a month or more. For the purposes of paragraph (3I)— “ “ Those things are— publishing advertisements or disseminating information; providing a means by which a prospective landlord or a prospective tenant can, in response to an advertisement or dissemination of information, make direct contact with a prospective tenant or a prospective landlord; providing a means by which a prospective landlord and a prospective tenant can communicate directly with each other; the provision of legal or notarial services by a barrister, advocate, solicitor or other legal representative communications with whom may be the subject of a claim to professional privilege or, in Scotland, protected from disclosure in legal proceedings on grounds of confidentiality of communications.
in the case of a relevant firm within paragraph (1)(k)— in the course of trading, or acting as an intermediary in the sale or purchase of, works of art when the value of the transaction, or a series of linked transactions, amounts to 10,000 euros or more, or in the course of storing works of art where the value of the works of art so stored for a person amounts to 10,000 euros or more;
In Schedule 2 (Treasury licences: purposes)—
in Part 1, in paragraph 1 (interpretation)—
the existing text becomes sub-paragraph (1);
“
For the purposes of this Schedule, references to a designated person are to be read as including a person (“ When determining for the purposes of paragraph 6A, 6B or 7 when C became a designated person, C is to be treated as having become a designated person at the same time as P.
in Part 2 (purposes), omit paragraph 6 (pre-existing judicial decisions etc.);
To enable, by the use of a designated person's frozen funds or economic resources, the implementation or satisfaction (in whole or in part) of a judicial, administrative or arbitral decision or lien, provided that— the funds or economic resources so used are the subject of the decision or lien, the decision or lien— was made or established before the date on which the person became a designated person, and is enforceable in the United Kingdom, and the use of the frozen funds or economic resources does not directly or indirectly benefit any other designated person.
To enable anything to be done in connection with— any insolvency and restructuring proceedings relating to an insolvent person, any other relevant proceedings relating to a person other than an individual, or proceedings under the insolvency law of a country other than the United Kingdom that correspond to the proceedings in paragraph (a) or (b), provided that any payments made directly or indirectly to a designated person are credited to a frozen account. In this paragraph— “ “ the regimes and proceedings set out in Parts A1 to 6 of the Insolvency Act 1986, Parts 1A to 7 of the Insolvency (Northern Ireland) Order 1989 and so much of Part 1 of that Order as applies for the purposes of those Parts, but excluding— proceedings under Chapter 3 of Part 4 (members’ voluntary winding up) of the Insolvency Act 1986, and proceedings under Chapter 3 of Part 5 (members’ voluntary winding up) of the Insolvency (Northern Ireland) Order 1989; arrangements and reconstructions under Part 26 of the Companies Act 2006; arrangements and reconstructions for companies in financial difficulty under Part 26A of the Companies Act 2006; the proceedings and arrangements set out in the Bankruptcy (Scotland) Act 2016; “ P is unable to pay its debts as they fall due, or the value of P’s assets is less than the amount of its liabilities, taking into account its contingent and prospective liabilities; “ the regimes and proceedings set out in— sections 367 and 377A to 377J of, or Schedule 19C to, the Financial Services and Markets Act 2000; the Insurers (Reorganisation and Winding Up) (Lloyd’s) Regulations 2005; Parts 1 to 3 of the Banking Act 2009 (including Parts 2 and 3 as applied to building societies by section 90C of the Building Societies Act 1986); the Investment Bank Special Administration Regulations 2011; Part 6 of the Financial Services (Banking Reform) Act 2013; the Payment and Electronic Money Institution Insolvency Regulations 2021; Schedule 11 to the Financial Services and Markets Act 2023; proceedings under any other special administration regime; “ is similar or corresponds to the ordinary administration procedure provided for by Schedule B1 to the Insolvency Act 1986 or Schedule B1 to the Insolvency (Northern Ireland) Order 1989, and provides for the administrator to have one or more special objectives instead of or in addition to the objectives of ordinary administration. To enable the implementation or satisfaction (in whole or in part) of a judicial, administrative or arbitral decision or lien which is enforceable in the United Kingdom (the “judicial decision”), provided that— where funds or economic resources are made available to a designated person, they are credited to a frozen account or otherwise frozen by virtue of regulation 12; and where funds or economic resources are made available by a person (including a designated person) to a designated person to enable the implementation or satisfaction of the judicial decision, no other designated person benefits, directly or indirectly.