The Misappropriation (Sanctions) (EU Exit) Regulations 2020

Made: 7th December 2020

Laid before Parliament: 9th December 2020

Coming into force in accordance with regulation 1(2)

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PART 1 — General

Citation and commencement

1

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Interpretation

2

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Application of prohibitions and requirements outside the United Kingdom

3

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Purpose

4

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PART 2 — Designation of persons

Power to designate persons

5

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Designation criteria

6

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Meaning of “owned or controlled directly or indirectly”

7

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Notification and publicity where designation power used

8

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Confidential information in certain cases where designation power used

9

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PART 3 — Finance

Meaning of “designated person” in Part 3

10

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Asset-freeze in relation to designated persons

11

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Making funds available to designated persons

12

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Making funds available for benefit of designated persons

13

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Making economic resources available to designated persons

14

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Making economic resources available for benefit of designated persons

15

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Circumventing etc. prohibitions

16

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PART 4 — Immigration

Immigration

17

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PART 5 — Exceptions and licences

Finance: exceptions from prohibitions

18

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Finance: exception for authorised conduct in a relevant country

19

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Exception for acts done for purposes of national security or prevention of serious crime

20

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Treasury licences

21

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Finance: licensing offences

22

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Section 8B(1) to (3) of the Immigration Act 1971: directions

23

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PART 6 — Information and records

Finance: reporting obligations

24

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“Relevant firm”

25

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Finance: powers to request information

26

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Finance: production of documents

27

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Finance: information offences

28

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Disclosure of information

29

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Part 6: supplementary

30

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PART 7 — Enforcement

Penalties for offences

31

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Liability of officers of bodies corporate etc.

32

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Jurisdiction to try offences

33

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Procedure for offences by unincorporated bodies

34

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Time limit for proceedings for summary offences

35

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Application of Chapter 1 of Part 2 of the Serious Organised Crime and Police Act 2005

36

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PART 8 — Supplementary and final provision

Notices

37

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Revocations

38

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Transitional provision: Treasury licences

39

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Transitional provision: prior obligations etc.

40

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SCHEDULE 1 — Rules for interpretation of regulation 7(2)

Application of Schedule

1

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Joint interests

2

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Joint arrangements

3

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Calculating shareholdings

4

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Voting rights

5

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6

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Rights to appoint or remove members of the board

7

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8

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Shares or rights held “indirectly”

9

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Shares held by nominees

10

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Rights treated as held by person who controls their exercise

11

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12

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Rights exercisable only in certain circumstances etc.

13

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Rights attached to shares held by way of security

14

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SCHEDULE 2 — Treasury licences: purposes

Interpretation

1

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Basic needs

2

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Legal services

3

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Maintenance of frozen funds and economic resources

4

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Extraordinary expenses

5

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Pre-existing judicial decisions etc.

6

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Diplomatic missions etc.

7

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Humanitarian assistance activities

8

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Extraordinary situation

9

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Prior obligations

10

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Signed

Ahmad — Minister of State — 2020-12-07

Explanatory note

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Footnotes

[^f00001]: The power to make regulations under Part 1 of the Sanctions and Anti-Money Laundering Act 2018 (c.13) is conferred on an “appropriate Minister”. Section 1(9)(a) of that Act defines an “appropriate Minister” as including the Secretary of State.

[^f00002]: 2018 c.13. Section 17(5)(b)(i) (enforcement) is amended by the Sentencing Act 2020 (c. 17) Schedule 24, paragraph 443(1).

[^f00003]: “Person” is defined by section 9(5) of the Sanctions and Anti-Money Laundering Act 2018 to include (in addition to an individual and a body of persons corporate or unincorporate) any organisation and any association or combination of persons.

[^f00004]: 1971 c.77. Section 8B was inserted by the Immigration and Asylum Act 1999 (c.33), section 8 and amended by the Immigration Act 2016 (c.19), section 76; and the Sanctions and Anti-Money Laundering Act 2018, section 59 and Schedule 3, Part 1.

[^f00005]: 2000 c.8. Section 142D was inserted by section 4(1) of the Financial Services (Banking Reform) Act 2013 (c.33).

[^f00006]: Section 142A was inserted by section 4(1) of the Financial Services (Banking Reform) Act 2013 (c.33).

[^f00007]: 2000 c.8. Part 4A was inserted by the Financial Services Act 2012 (c.21), section 11(2) and most recently amended by S.I. 2018/1149; it is prospectively amended by S.I. 2019/632.

[^f00008]: Section 22 was amended by the Financial Guidance and Claims Act 2018 (c.10), section 27(4); the Financial Services Act 2012 (c.21), section 7(1); and S.I. 2018/135.

[^f00009]: S.I. 2001/544, as most recently amended by S.I. 2019/679; S.I. 2020/117; and S.I. 2020/480; and it is prospectively amended by S.I. 2019/710.

[^f00010]: 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 and Schedule 2, paragraph 1; the Financial Services Act 2012 (c.21), sections 7(2) to (5) and 8; the Financial Guidance and Claims Act 2018 (c.10), section 27(13); S.I. 2013/1881; and S.I. 2018/135; and it is prospectively amended by S.I. 2019/632.

[^f00011]: 2006 c.46.

[^f00012]: 2014 c.2.

[^f00013]: 2005 c.19.

[^f00014]: 1979 c.38. Section 1 was amended by the Law Reform (Miscellaneous Provisions) (Scotland) Act 1985 (c.73), Schedule 1, paragraph 40; the Planning (Consequential Provisions) Act 1990 (c.11), Schedule 2, paragraph 42; the Planning (Consequential Provisions) (Scotland) Act 1997 (c.11), Schedule 2, paragraph 28; the Planning Act (Northern Ireland) 2011 (c.25), Schedule 6, paragraph 21; the Enterprise and Regulatory Reform Act 2013 (c.24), section 70; S.I. 1991/2684; S.S.I. 2000/121 and S.I. 2001/1283.

[^f00015]: Section 1210 was amended by S.I. 2008/565; S.I. 2008/1950; S.I. 2011/99; S.I. 2012/1809; S.I. 2013/3115; S.I. 2017/516; and S.I. 2017/1164; and it is prospectively amended by S.I. 2019/177.

[^f00016]: 2017 c.3.

[^f00017]: Section 1(8) of the Act defines an “international obligation” as an obligation of the United Kingdom created or arising by or under any international agreement.