The Central African Republic (Sanctions) (EU Exit) Regulations 2020

• (b) is not an excluded payment.

• (3) 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.

• (4) 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.

• (5) The reference in paragraph (3) to a person making a required payment—

• (a) does not include a UN designated person, and

• (b) only includes a non-UN designated person where they are making a required payment on their own behalf.

• (6) 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) 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);

• (b) a payment to the Financial Conduct Authority which is collected by that Authority on behalf of the Financial Reporting Council Limited.

• (7) For the purposes of this regulation—

• (a) 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,

• (b) 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

• (c) 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.

• (8) In this regulation—

• “BID levy” means a levy that is imposed on those persons who are, in respect of particular business improvement district proposals, entitled to vote in accordance with section 39(3) of the Planning etc. (Scotland) Act 2006;

• “business improvement district” has the meaning given in section 33 of the Planning etc. (Scotland) Act 2006;

• “designated person” has the same meaning as it has in Part 3 (Finance);

• “enactment” has the meaning given in section 54(6) of the Act;

• “excluded payment” means, in relation to—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 rules made by the Financial Conduct Authority by virtue of Part 3 of the Public Offers and Admissions to Trading Regulations 2024; 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;

• “firm” has the meaning given in section 1173(1) of the Companies Act 2006;

• “listing” means being included in the official list maintained by the Financial Conduct Authority in accordance with Part 6 of the Financial Services and Markets Act 2000;

• “local authority” means—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;

• “non-UN designated person” means a person—who is designated under regulation 5 for the purposes of regulations 12 to 16 (asset-freeze etc.), andwhose designation, in the opinion of the Secretary of State, is not required by a provision mentioned in regulation 4(3);

• “primary information provider” has the meaning given in section 89P(2) of the Financial Services and Markets Act 2000;

• ...

• ...

• “registrar of companies” has the meaning given in section 1060 of the Companies Act 2006 (the registrar);

• “reimbursement payment” means a repayment from the non-UN designated person to the person who made a required payment which is of the same amount as that required payment;

• “scheme manager” has the meaning given in section 212 of the Financial Services and Markets Act 2000;

• “sponsor” has the meaning given in section 88(2) of the Financial Services and Markets Act 2000;

• “UN designated person” means—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), ora 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).

Finance: humanitarian exception

Exception for authorised conduct in a relevant country

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

Treasury licences

Director disqualification licences

Trade licences

Licences: general provisions

Finance: licensing offences

Director disqualification: licensing offences

Trade: licensing offences

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

Finance: reporting obligations for required payments

39A

• (1) A non-UN designated person must inform the Treasury without delay if they make a required payment.

• (2) 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.

• (3) A person must inform the Treasury without delay if they receive a reimbursement payment.

• (4) 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.

• (5) In this regulation—

• “non-UN designated person” has the meaning given in regulation 31ZZA(8) (finance: exception from prohibitions for required payments);

• “reimbursement payment” has the meaning given in regulation 31ZZA(8);

• “required payment” has the meaning given in regulation 31ZZA(2).

“Relevant firm”

Finance: powers to request information

Finance: production of documents

Finance: information offences

Trade: application of information powers in CEMA

General trade licences: records

General trade licences: inspection of records

Disclosure of information

Finance: disclosure to the Treasury

Part 7: supplementary

Pre-existing judicial decisions etc.

6B

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—

• (a) the funds or economic resources so used are the subject of the decision or lien,

• (b) the decision or lien—

• (i) was made or established before the date on which the person became a designated person, and

• (ii) is enforceable in the United Kingdom, and

• (c) the use of the frozen funds or economic resources does not directly or indirectly benefit any other designated person.

Insolvency

11

• (1) To enable anything to be done in connection with—

• (a) any insolvency and restructuring proceedings relating to an insolvent person,

• (b) any other relevant proceedings relating to a person other than an individual, or

• (c) 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.

• (2) In this paragraph—

• “enactment” has the meaning given in section 54(6) of the Act;

• “insolvency and restructuring proceedings” includes—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, andproceedings 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;

• “insolvent person” means a person (“P”), other than an individual, where—P is unable to pay its debts as they fall due, orthe value of P’s assets is less than the amount of its liabilities, taking into account its contingent and prospective liabilities;

• “other relevant proceedings” means—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;

• “special administration regime” means provision made by an enactment for an insolvency procedure that—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, andprovides for the administrator to have one or more special objectives instead of or in addition to the objectives of ordinary administration.

Judicial decisions etc.

12

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—

• (a) 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

• (b) 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.

Conditions for the designation of persons by name

5A

• (1) The Secretary of State may choose whether to designate a person under regulation 5 (power to designate persons) under—

• (a) the standard procedure, or

• (b) the urgent procedure.

• (2) Paragraph (3) applies where the Secretary of State chooses to designate a person under regulation 5 under the standard procedure.

• (3) The Secretary of State may not designate a person except where condition A is met.

• (4) Condition A is that the Secretary of State has reasonable grounds to suspect that that person is an involved person.

• (5) Paragraphs (6) to (8) apply where the Secretary of State chooses to designate a person under regulation 5 under the urgent procedure.

• (6) The Secretary of State may designate a person where condition A is not met, but conditions B and C are met.

• (7) The person ceases to be a designated person at the end of the period of 56 days beginning with the day following the day on which the person became a designated person unless, within that period, the Secretary of State certifies that—

• (a) condition A is met, or

• (b) conditions B and C continue to be met.

• (8) Where the Secretary of State makes a certification under paragraph (7)(b), the designation ceases to have effect at the end of the period of 56 days beginning with the day immediately following the period mentioned in paragraph (7), unless within that period the Secretary of State certifies that condition A is met.

• (9) Condition B is that relevant provision (whenever made) applies to, or in relation to, the person under the law of—

• (a) the United States of America;

• (b) the European Union;

• (c) Australia;

• (d) Canada.

• (10) Condition C is that the Secretary of State considers that it is in the public interest to make designations under the urgent procedure.

• (11) For the purposes of condition B, “relevant provision” is provision that the Secretary of State considers—

• (a) corresponds, or is similar, to the type of sanction or sanctions in these Regulations, or

• (b) is made for purposes corresponding, or similar, to any purpose of any type of sanction or sanctions in these Regulations.

• (12) In this regulation, “involved person” has the meaning given in regulation 6 (designation criteria: meaning of “involved person”).

Designation criteria: meaning of “involved person”

Meaning of “owned or controlled directly or indirectly”

Notification and publicity where designation power used

Confidential information in certain cases where designation power used

Designation of persons named by or under UN Security Council Resolutions

Finance: exceptions relating to payment of Treasury debt

31ZZB

• (1) The prohibitions in regulations 12 to 14 (asset-freeze in relation to, and making funds available to, or for the benefit of, designated persons) are not contravened by any act done by a person to transfer funds to—

• (a) a UN designated person (“D”) in order to satisfy an obligation owed by the Treasury to D in respect of Treasury debt where the conditions in paragraph (2) are met; or

• (b) a person (“B”) in respect of Treasury debt where the effect of the transfer is to make funds available to or for the benefit of D and the conditions in paragraph (3) are met.

• (2) The person (“P”) making the transfer of funds to D knows or has reasonable cause to suspect that the obligation referred to in paragraph (1) arose before the date on which D was designated and P takes reasonable steps to satisfy itself that the funds to be transferred to D are credited to a specified account.

• (3) The person (“P”) making the transfer of funds to B knows or has reasonable cause to suspect that the effect of such a transfer will be to enable the satisfaction of an obligation of any person to D in respect of Treasury debt and P takes reasonable steps to satisfy itself that such obligation arose before the date on which D was designated and the funds to be transferred to D are ultimately credited to a specified account.

• (4) The prohibitions in regulations 12 to 14 are not contravened by any act done by a person (where that person is not P in paragraph (2) or (3)) to enable a transfer of funds to any person in respect of Treasury debt—

• (a) in order to satisfy an obligation owed by the Treasury to D, or

• (b) where the effect of the transfer will be to enable the satisfaction of an obligation of any person to D in respect of Treasury debt.

• (5) For the purposes of this regulation, references to a UN designated person, in so far as they relate to a designated person within the meaning of regulation 11, are 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.

• (6) In this regulation—

• “corresponding non-UK country” means a non-UK country whose laws contain relevant—prohibitions and exceptions corresponding to regulations 12 to 14 and regulation 31 (finance: exceptions from prohibitions); andgrounds for licences to be issued that correspond to the purposes in Schedule 2 (Treasury licences: purposes);

• “frozen account” has the meaning given in regulation 31(7);

• “non-UK country” means a country that is not the United Kingdom;

• “non-UK relevant institution” means—a person, other than an individual, which would satisfy the threshold conditions for permission under Part 4A of the Financial Services and Markets Act 2000 if it had its registered office (or if it does not have one, its head office) in the United Kingdom, oran undertaking which by way of business—operates a currency exchange office,transmits money (or any representation of monetary value) by any means, orcashes cheques that are made payable to customers;

• “recognised CSD” has the meaning given in section 285(1)(e) of the Financial Services and Markets Act 2000;

• “relevant money market instrument” means an instrument of a kind normally dealt in on the money market, such as treasury bills, certificates of deposit and commercial papers, excluding instruments of payment;

• “relevant transferable security” means a security, negotiable on the capital market, of any of the following kinds, but excluding instruments of payment—shares in companies and other securities equivalent to shares in companies, partnerships or other entities, and depositary receipts in respect of shares;bonds or other forms of securitised debt, including depositary receipts in respect of such securities;any other securities giving the right to purchase or sell any security of a kind mentioned in paragraph (a) or (b);

• “specified account” means—a frozen account of a person;an account held by or for the benefit of a person with a recognised CSD;an account held by or for the benefit of a person with a non-UK relevant institution in a corresponding non-UK country; oran account held by or for the benefit of a person with a third country CSD in a corresponding non-UK country—where the person referred to in (a) to (d) above is also D in paragraph (2) or (3);

• “third country CSD” has the meaning given in section 285(1)(g) of the Financial Services and Markets Act 2000;

• “Treasury debt” means any relevant transferable security, relevant money market instrument, loan or credit entered into or issued by, or on behalf of the Treasury in respect of funds borrowed by or on behalf of the Treasury;

• “UN designated person” has the meaning given in regulation 31ZZA(8).

Finance: humanitarian exception

Exception for authorised conduct in a relevant country

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

Treasury licences

Director disqualification licences

Trade licences

Licences: general provisions

Finance: licensing offences

Director disqualification: licensing offences

Trade: licensing offences

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