The Nicaragua (Asset-Freezing) Regulations 2019

Made: 15th October 2019

Laid before Parliament: 16th October 2019

Coming into force: 6th November 2019

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PART 1 — General

Citation, commencement and application

1

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Interpretation

2

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PART 2 — Funds and economic resources

Freezing of funds and economic resources

3

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Making funds available to a designated person

4

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Making funds available for the benefit of a designated person

5

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Making economic resources available to a designated person

6

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Making economic resources available for the benefit of a designated person

7

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Credits to a frozen account

8

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Licences

9

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PART 3 — Offences

Contravention and circumvention of prohibitions

10

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Officers of a body corporate etc

11

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Penalties

12

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Proceedings

13

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Consent to prosecution

14

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PART 4 — Miscellaneous

Information provisions

15

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Notices

16

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The Crown

17

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SCHEDULE — Information provisions

Reporting obligations of relevant institutions and others

1

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Powers to request information

2

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Production of documents

3

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Failure to comply with request for information

4

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General power to disclose information

5

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Application of provisions

6

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Signed

David Rutley — Michelle Donelan — Two of the Lords Commissioners of Her Majesty's Treasury — 2019-10-15

Explanatory note

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Footnotes

[^f00001]: S.I. 2010/1834.

[^f00002]: 1972 c.68. Section 2(2) was amended by the Legislative and Regulatory Reform Act 2006 (c.51), section 27(1)(a) and the European Union (Amendment) Act 2008 (c.7), section 3(3) and Schedule, Part 1. Paragraph 1(1)(d) of Schedule 2 to the 1972 Act is modified by section 144 of the Policing and Crime Act 2017 (c.3), in relation to the exercise of the powers conferred by section 2(2) of the 1972 Act, for the purposes of implementing, or otherwise in relation to, EU obligations created or arising by or under an EU financial sanctions Regulation, as defined by section 143 of the 2017 Act. Paragraph 1A of Schedule 2 to the 1972 Act was inserted by the Legislative and Regulatory Reform Act 2006, section 28 and amended by the European Union (Amendment) Act 2008, section 3(3) and Schedule, Part 1 and S.I. 2007/1388. The European Communities Act 1972 is repealed with effect from exit day by section 1 of the European Union (Withdrawal) Act 2018 (c.16).

[^f00003]: OJ L 262, 15.10.2019, p.1.

[^f00004]: 1981 c.61. Part IV was amended by the British Overseas Territories Act 2002 (c.8), section 1(1)(b) and the Nationality, Immigration and Asylum Act 2002 (c.41), sections 15 and 161, Schedule 2, paragraph 1(i) and Schedule 9.

[^f00005]: 2000 c.8.

[^f00006]: Part 4A was inserted by the Financial Services Act 2012 (c.21), section 11(2) and amended by S.I. 2013/504, S.I. 2013/1773, S.I. 2013/1797, S.I. 2013/3115, S.I. 2015/486, S.I. 2015/575, S.I. 2015/910, S.I. 2015/1882, S.I. 2016/225, S.I. 2016/680, S.I. 2016/1239, S.I. 2017/701, S.I. 2017/1064, S.I. 2017/1212, S.I. 2018/135, S.I. 2018/546 and S.I. 2018/698.

[^f00007]: Substituted by S.I. 2006/3221 and S.I. 2013/3115; it is prospectively amended by S.I. 2018/1149.

[^f00008]: Amended by S.I. 2003/2066, S.I. 2007/3253, S.I. 2012/1906, S.I. 2013/1881 and S.I. 2015/575.

[^f00009]: Amended by S.I. 2007/126, S.I. 2007/3253, S.I. 2012/1906 and S.I. 2017/701.

[^f00010]: Section 22 was amended by the Financial Services Act 2012 (c.21), section 7(1), the Financial Guidance and Claims Act 2018 (c.10), section 27(1) and (4) and S.I. 2018/135.

[^f00011]: Schedule 2 was amended by the Regulation of Financial Services (Land Transactions) Act 2005 (c.24), section 1, the Dormant Bank and Building Society Accounts Act 2008 (c.31), section 15, Schedule 2, paragraph 1, the Financial Services Act 2012 (c.21), section 7(2) to (5) and section 8, the Financial Guidance and Claims Act 2018, section 27(1) and (13) and S.I. 2013/1881; it is prospectively amended by S.I. 2018/135.

[^f00012]: 2003 c.44.

[^f00013]: 1995 c.46.

[^f00014]: 1947 c.44.

[^f00015]: 2006 c.46. Part 42 was amended by the Budget Responsibility and National Audit Act 2011 (c.4), section 26, Schedule 5, Part 2, the Public Audit (Wales) Act 2013 (anaw.3), section 34, Schedule 4, the Data Protection Act 2018 (c. 12), section 211(1)(a), Schedule 19, Part 1, S.I. 2007/3494, S.I. 2008/565, S.I. 2008/567, S.I. 2008/1950, S.I. 2009/2958, S.I. 2010/2537, S.I. 2011/1043, S.I. 2011/1856, S.I. 2012/1741, S.I. 2012/1809, S.I. 2013/1672, S.I. 2013/3115, S.I. 2015/664, S.I. 2016/649, S.I. 2017/516, S.I. 2017/701 and S.I. 2017/1164. Section 1210 was amended by S.I. 2008/565, S.I. 2008/567, S.I. 2008/1950, S.I. 2012/1809, S.I. 2013/3115, S.I. 2017/516 and S.I. 2017/1164.

[^f00016]: 2014 c.2.

[^f00017]: 2005 c.19.

[^f00018]: 1979 c.38. Section 1 was amended by the Law Reform (Miscellaneous Provisions) (Scotland) Act 1985 (c.73), section 56, Schedule 1, the Planning (Consequential Provisions) Act 1990 (c.11), section 4, Schedule 2, the Planning (Consequential Provisions) (Scotland) Act 1997 (c.11), section 4, Schedule 2, the Enterprise and Regulatory Reform Act 2013 (c.24), section 70, S.I. 1991/1220 and S.I. 2001/1283.

[^f00019]: 2016 c.25. Parts 1 to 7 were amended by the Policing and Crime Act 2017 (c.3), section 33(9), Schedule 9, Data Protection Act 2018 (c.12), section 211(1)(a), Schedule 19, the Counter-Terrorism and Border Security Act 2019 (c.3), section 23, Schedule 4, S.I. 2017/730, S.I. 2018/1123, S.I. 2019/419 and S.I. 2019/939.

[^f00020]: 2000 c.23. There are amending instruments to Part 1 of this Act which are not relevant to these Regulations.

[^f00021]: 2018 c.12.

Editorial notes