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.

[^f00018]: 2016 c.25. Amendments have been made by the Policing and Crime Act 2017, Schedule 9, paragraph 74; the Data Protection Act 2018 (c.12), Schedule 19, paragraphs 198-203; the Counter-Terrorism and Border Security Act 2019 (c. 3) Schedule 4, paragraph 33; the Sanctions and Anti-Money Laundering Act 2018, section 59(4), Schedule 3, paragraph 7; the Crime (Overseas Production Orders) Act 2019 (c. 5) section 16; S.I. 2018/378; S.I. 2018/652; S.I. 2018/905; S.I. 2018/1123; S.I. 2018/378; S.I. 2018/905; S.I. 2018/1123; S.I. 2019/419; S.I. 2019/742; S.I. 2019/ 939; S.I. 2020/661. Saving provisions are made by S.I. 2017/859.

[^f00019]: 2018 c.12. There are amendments to this Act that are not relevant to these Regulations.

[^f00020]: 2020 c. 17.

[^f00021]: 1995 c.46.

[^f00022]: 1925 c.86. Section 33 was amended by the Statute Law (Repeals) Act 2004 (c.14), section 1(1) and Schedule 1, Part 17. Other amendments have been made to section 33 that are not relevant to these Regulations.

[^f00023]: 1980 c.43. Amendments have been made to Schedule 3 that are not relevant to these Regulations.

[^f00024]: 1945 c. 15 (N.I.).

[^f00025]: S.I. 1981/1675 (N.I. 26).

[^f00026]: 2005 c.15. Chapter 1 of Part 2 has been amended by the Terrorism Act 2006 (c.11), section 33(3) and (4); the Northern Ireland (Miscellaneous Provisions) Act 2006 (c.33), sections 26(2) and 30(2) and Schedules 3 and 5; the Bribery Act 2010 (c.23), section 17(2) and Schedule 1; the Criminal Justice and Licensing (Scotland) Act 2010 (asp.13), section 203 and Schedule 7, paragraph 77; the Crime and Courts Act 2013 (c.22), section 15 and Schedule 8, paragraphs 157 and 159; the Criminal Finances Act 2017 (c.22), section 51(1); the Sanctions and Anti-Money Laundering Act 2018, section 59(4) and Schedule 3, paragraph 4; S.I. 2006/1629; and S.I. 2014/834.

[^f00027]: S.I. 2011/888, as amended by the Sentencing Act 2020, Schedule 24, paragraph 446(1); S.I. 2013/472; S.I. 2013/534; S.I. 2017/560; S.I. 2017/754; S.I. 2018/682; S.I. 2018/1149; and S.I. 219/380.

[^f00028]: S.I. 2011/887, as amended by the Sentencing Act 2020, Schedule 24, paragraph 446(1); S.I. 2013/472; S.I. 2013/534; S.I. 2017/560; S.I. 2017/754; S.I. 2018/682; S.I. 2018/1149; and S.I. 219/380.

[^f00029]: S.I. 2014/507, as amended by the Sentencing Act 2020, Schedule 24, paragraph 446(1); S.I. 2017/560; S.I. 2017/754; S.I. 2018/682; S.I. 2018/1090; S.I. 2018/1149; and S.I. 2019/380.

[^f00030]: OJ No. L 31, 5.2.2011, p. 1–12.

[^f00031]: OJ No. L 76, 22.3.2011, p. 4–12.

[^f00032]: OJ No. L 66, 6.3.2014, p. 1–10.

[^f00033]: 1986 c.45.

[^f00034]: S.I. 1989/2405 (N.I. 19).

[^f00035]: United Nations Treaty Series, vol. 596, p. 261.

[^f00036]: United Nations Treaty Series, vol. 500, p. 95.

Editorial notes