The Global Irregular Migration and Trafficking in Persons Sanctions Regulations 2025

Penalties for offences

42

• (1) A person who commits an offence under any provision of Part 3 (finance) or regulation 30 (finance: licensing offences) is liable—

• (a) on summary conviction in England and Wales, to imprisonment for a term not exceeding the general limit in a magistrates’ court or a fine (or both);

• (b) on summary conviction in Scotland, to imprisonment for a term not exceeding 12 months or a fine not exceeding the statutory maximum (or both);

• (c) on summary conviction in Northern Ireland, to imprisonment for a term not exceeding 6 months or a fine not exceeding the statutory maximum (or both);

• (d) on conviction on indictment, to imprisonment for a term not exceeding 7 years or a fine (or both).

• (2) A person who commits an offence under regulation 12(6) (confidentiality) or 31 (director disqualification: licensing offences) is liable—

• (a) on summary conviction in England and Wales, to imprisonment for a term not exceeding the general limit in a magistrates’ court or a fine (or both);

• (b) on summary conviction in Scotland, to imprisonment for a term not exceeding 12 months or a fine not exceeding the statutory maximum (or both);

• (c) on summary conviction in Northern Ireland, to imprisonment for a term not exceeding 6 months or a fine not exceeding the statutory maximum (or both);

• (d) on conviction on indictment, to imprisonment for a term not exceeding 2 years or a fine (or both).

• (3) A person who commits an offence under regulation 33(9) or (10) (finance: reporting obligations) or 38 (finance: information offences) is liable—

• (a) on summary conviction in England and Wales, to imprisonment for a term not exceeding 6 months or a fine (or both);

• (b) on summary conviction in Scotland, to imprisonment for a term not exceeding 6 months or a fine not exceeding level 5 on the standard scale (or both);

• (c) on summary conviction in Northern Ireland, to imprisonment for a term not exceeding 6 months or a fine not exceeding level 5 on the standard scale (or both).

Liability of officers of bodies corporate etc.

43

• (1) Where an offence under these Regulations, committed by a body corporate—

• (a) is committed with the consent or connivance of any director, manager, secretary or other similar officer of the body corporate, or any person who was purporting to act in any such capacity, or

• (b) is attributable to any neglect on the part of any such person,

that person as well as the body corporate is guilty of the offence and is liable to be proceeded against and punished accordingly.

• (2) In paragraph (1) “director”, in relation to a body corporate whose affairs are managed by its members, means a member of the body corporate.

• (3) Paragraph (1) also applies in relation to a body that is not a body corporate, with the substitution for the reference to a director of the body of a reference—

• (a) in the case of a partnership, to a partner;

• (b) in the case of an unincorporated body other than a partnership—

• (i) where the body’s affairs are managed by its members, to a member of the body;

• (ii) in any other case, to a member of the governing body.

Jurisdiction to try offences

44

• (1) Wherever an offence under these Regulations is committed (whether in the United Kingdom or outside the United Kingdom)—

• (a) proceedings for the offence may be taken at any place in the United Kingdom, and

• (b) the offence may for all incidental purposes be treated as having been committed at any such place.

• (2) In the application of paragraph (1) to Scotland, where an offence is committed outside the United Kingdom any such proceedings against a person may be taken—

• (a) in any sheriff court district in which the person is apprehended or is in custody, or

• (b) in such sheriff court district as the Lord Advocate may determine.

• (3) In paragraph (2) “sheriff court district” is to be read in accordance with the Criminal Procedure (Scotland) Act 1995 (see section 307(1) of that Act (interpretation))[^f00048].

Procedure for offences by unincorporated bodies

45

• (1) Paragraphs (2) and (3) apply if it is alleged that an offence under these Regulations has been committed by an unincorporated body (as opposed to by a member of the body).

• (2) Proceedings in England and Wales or Northern Ireland for such an offence must be brought against the body in its own name.

• (3) For the purposes of proceedings for such an offence brought against an unincorporated body—

• (a) rules of court relating to the service of documents have effect as if the body were a body corporate;

• (b) the following provisions apply as they apply in relation to a body corporate—

• (i) section 33 of the Criminal Justice Act 1925 (procedure on charge of offence against corporation)[^f00049] and Schedule 3 to the Magistrates’ Courts Act 1980 (corporations)[^f00050];

• (ii) section 18 of the Criminal Justice Act (Northern Ireland) 1945 (procedure on charge)[^f00051] and Article 166 of, and Schedule 4 to, the Magistrates' Courts (Northern Ireland) Order 1981 (corporations)[^f00052].

• (4) A fine imposed on an unincorporated body on its conviction of an offence under these Regulations is to be paid out of the funds of the body.

Time limit for proceedings for summary offences

46

• (1) Proceedings for an offence under these Regulations which is triable only summarily may be brought within the period of 12 months beginning with the date on which evidence sufficient in the opinion of the prosecutor to justify the proceedings comes to the prosecutor's knowledge.

• (2) But such proceedings may not be brought by virtue of paragraph (1) more than 3 years after the commission of the offence.

• (3) A certificate signed by the prosecutor as to the date on which the evidence in question came to the prosecutor's knowledge is conclusive evidence of the date on which it did so; and a certificate to that effect and purporting to be so signed is to be treated as being so signed unless the contrary is proved.

• (4) In relation to proceedings in Scotland—

• (a) section 136(3) of the Criminal Procedure (Scotland) Act 1995 (time limit for certain offences) applies for the purposes of this regulation as it applies for the purposes of that section, and

• (b) references in this regulation to the prosecutor are to be treated as references to the Lord Advocate.

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

47

Chapter 1 of Part 2 of the Serious Organised Crime and Police Act 2005 (investigatory powers of DPP, etc.)[^f00053] applies to any offence under Part 3 (finance) or regulation 30 (finance: licensing offences).

Schedule 1 — Rules for interpretation of regulation 9(2)

Application of Schedule

1

• (1) The rules set out in the following paragraphs of this Schedule apply for the purpose of interpreting regulation 9(2).

• (2) They also apply for the purpose of interpreting this Schedule.

Joint interests

2

If two or more persons each hold a share or right jointly, each of them is treated as holding that share or right.

Joint arrangements

3

• (1) If shares or rights held by a person and shares or rights held by another person are the subject of a joint arrangement between those persons, each of them is treated as holding the combined shares or rights of both of them.

• (2) A “joint arrangement” is an arrangement between the holders of shares or rights that they will exercise all or substantially all the rights conferred by their respective shares or rights jointly in a way that is pre-determined by the arrangement.

• (3) “Arrangement” has the meaning given by paragraph 12.

Calculating shareholdings

4

• (1) In relation to a person who has a share capital, a reference to holding “more than 50% of the shares” in that person is to holding shares comprised in the issued share capital of that person of a nominal value exceeding (in aggregate) 50% of that share capital.

• (2) In relation to a person who does not have a share capital—

• (a) a reference to holding shares in that person is to holding a right or rights to share in the capital or, as the case may be, profits of that person;

• (b) a reference to holding “more than 50% of the shares” in that person is to holding a right or rights to share in more than 50% of the capital or, as the case may be, profits of that person.

Voting rights

5

• (1) A reference to the voting rights in a person is to the rights conferred on shareholders in respect of their shares (or, in the case of a person not having a share capital, on members) to vote at general meetings of the person on all or substantially all matters.

• (2) In relation to a person that does not have general meetings at which matters are decided by the exercise of voting rights—

• (a) a reference to holding voting rights in the person is to be read as a reference to holding rights in relation to the person that are equivalent to those of a person entitled to exercise voting rights in a company;

• (b) a reference to holding “more than 50% of the voting rights” in the person is to be read as a reference to holding the right under the constitution of the person to block changes to the overall policy of the person or to the terms of its constitution.

6

In applying regulation 9(2) and this Schedule, the voting rights in a person are to be reduced by any rights held by the person itself.

Rights to appoint or remove members of the board

7

A reference to the right to appoint or remove a majority of the board of directors of a person is to the right to appoint or remove directors holding a majority of the voting rights at meetings of the board on all or substantially all matters.

8

A reference to a board of directors, in the case of a person who does not have such a board, is to be read as a reference to the equivalent management body of that person.

Shares or rights held “indirectly”

9

• (1) A person holds a share “indirectly” if the person has a majority stake in another person and that other person—

• (a) holds the share in question, or

• (b) is part of a chain of persons—

• (i) each of whom (other than the last) has a majority stake in the person immediately below it in the chain, and

• (ii) the last of whom holds the share.

• (2) A person holds a right “indirectly” if the person has a majority stake in another person and that other person—

• (a) holds that right, or

• (b) is part of a chain of persons—

• (i) each of whom (other than the last) has a majority stake in the person immediately below it in the chain, and

• (ii) the last of whom holds that right.

• (3) For these purposes, a person (“A”) has a “majority stake” in another person (“B”) if—

• (a) A holds a majority of the voting rights in B,

• (b) A is a member of B and has the right to appoint or remove a majority of the board of directors of B,

• (c) A is a member of B and controls alone, pursuant to an agreement with other shareholders or members, a majority of the voting rights in B, or

• (d) A has the right to exercise, or actually exercises, dominant influence or control over B.

• (4) In the application of this paragraph to the right to appoint or remove a majority of the board of directors, a person (“A”) is to be treated as having the right to appoint a director if—

• (a) any person's appointment as director follows necessarily from that person's appointment as director of A, or

• (b) the directorship is held by A itself.

Shares held by nominees

10

A share held by a person as nominee for another is to be treated as held by the other (and not by the nominee).

Rights treated as held by person who controls their exercise

11

• (1) Where a person controls a right, the right is to be treated as held by that person (and not by the person who in fact holds the right, unless that person also controls it).

• (2) A person “controls” a right if, by virtue of any arrangement between that person and others, the right is exercisable only—

• (a) by that person,

• (b) in accordance with that person’s directions or instructions, or

• (c) with that person’s consent or concurrence.

12

“Arrangement” includes—

• (a) any scheme, agreement or understanding, whether or not it is legally enforceable, and

• (b) any convention, custom or practice of any kind.

Rights exercisable only in certain circumstances etc.

13

• (1) Rights that are exercisable only in certain circumstances are to be taken into account only—

• (a) when the circumstances have arisen, and for so long as they continue to obtain, or

• (b) when the circumstances are within the control of the person having the rights.

• (2) But rights that are exercisable by an administrator or by creditors while a person is subject to relevant insolvency proceedings are not to be taken into account while the person is subject to those proceedings.

• (3) “Relevant insolvency proceedings” means—

• (a) administration within the meaning of the Insolvency Act 1986[^f00054],

• (b) administration within the meaning of the Insolvency (Northern Ireland) Order 1989[^f00055], or

• (c) proceedings under the insolvency law of another country during which a person's assets and affairs are subject to the control or supervision of a third party or creditor.

• (4) Rights that are normally exercisable but are temporarily incapable of exercise are to continue to be taken into account.

Rights attached to shares held by way of security

14

Rights attached to shares held by way of security provided by a person are to be treated for the purposes of this Schedule as held by that person—

• (a) where apart from the right to exercise them for the purpose of preserving the value of the security, or of realising it, the rights are exercisable only in accordance with that person's instructions, and

• (b) where the shares are held in connection with the granting of loans as part of normal business activities and apart from the right to exercise them for the purpose of preserving the value of the security, or of realising it, the rights are exercisable only in that person's interests.

Schedule 2 — Treasury licences: purposes

Interpretation

1

• (1) In this Schedule—

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

• “frozen account” has the meaning given in regulation 22(7) (finance: exceptions from prohibitions);

• “frozen funds or economic resources” means funds or economic resources frozen by virtue of regulation 14 (asset-freeze in relation to designated persons), and any reference to a person's frozen funds or economic resources is to funds or economic resources frozen as a consequence of the designation of that person for the purpose of that regulation.

• (2) For the purposes of this Schedule, references to a designated person are to be read as including a person (“C”) who is owned or controlled directly or indirectly (within the meaning of regulation 9) by the designated person (“P”).

• (3) When determining for the purposes of paragraph 8 when C became a designated person, C is to be treated as having become a designated person at the same time as P.

Basic needs

2

• (1) To enable the basic needs of a designated person, or (in the case of an individual) any dependent family member of such a person, to be met.

• (2) In the case of an individual, in sub-paragraph (1) “basic needs” includes—

• (a) medical needs;

• (b) needs for—

• (i) food;

• (ii) payment of insurance premiums;

• (iii) payment of tax;

• (iv) rent or mortgage payments;

• (v) utility payments.

• (3) In the case of a person other than an individual, in sub-paragraph (1) “basic needs” includes needs for—

• (a) payment of insurance premiums;

• (b) payment of reasonable fees for the provision of property management services;

• (c) payment of remuneration, allowances or pensions of employees;

• (d) payment of tax;

• (e) rent or mortgage payments;

• (f) utility payments.

• (4) In sub-paragraph (1)—

• “dependent” means financially dependent;

• “family member” includes— the wife or husband of the designated person; the civil partner of the designated person; any parent or other ascendant of the designated person; any child or other descendant of the designated person; any person who is a brother or sister of the designated person, or a child or other descendant of such a person.

Legal services

3

To enable the payment of—

• (a) reasonable professional fees for the provision of legal services, or

• (b) reasonable expenses associated with the provision of legal services.

Maintenance of frozen funds and economic resources

4

To enable the payment of—

• (a) reasonable fees, or

• (b) reasonable service charges,

arising from the routine holding or maintenance of frozen funds or economic resources.

Extraordinary expenses

5

To enable an extraordinary expense of a designated person to be met.

Judicial decisions etc.

6

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 14 (asset-freeze in relation to designated persons);

• (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.

Extraordinary situation

7

To enable anything to be done to deal with an extraordinary situation.

Prior obligations

8

To enable, by the use of a designated person's frozen funds or economic resources, the satisfaction of an obligation of that person (whether arising under a contract, other agreement or otherwise), provided that—

• (a) the obligation arose before the date on which the person became a designated person, and

• (b) no payments are made to another designated person, whether directly or indirectly.

Diplomatic missions etc.

9

• (1) To enable anything to be done in order that the functions of a diplomatic mission or consular post, or of an international organisation enjoying immunities in accordance with international law, may be carried out.

• (2) In this paragraph—

• “consular post” has the same meaning as in the Vienna Convention on Consular Relations done at Vienna on 24 April 1963[^f00056], and any reference to the functions of a consular post is to be read in accordance with that Convention;

• “diplomatic mission” and any reference to the functions of a diplomatic mission are to be read in accordance with the Vienna Convention on Diplomatic Relations done at Vienna on 18 April 1961[^f00057].

Humanitarian assistance activity

10

• (1) To enable anything to be done in connection with the performance of any humanitarian assistance activity.

• (2) In sub-paragraph (1), “humanitarian assistance activity” includes the work of international and non-governmental organisations carrying out relief activities for the benefit of the civilian population of a country.

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 (regulations: general);

• “insolvency and restructuring proceedings” includes— the regimes and proceedings set out in Parts A1 to 6 of the Insolvency Act 1986[^f00058], Parts 1A to 7 of the Insolvency (Northern Ireland) Order 1989[^f00059] and so much of Part 1 of that Order[^f00060] as applies for the purposes of those Parts, but excluding— proceedings under Chapter 3 of Part 4 of the Insolvency Act 1986 (members’ voluntary winding up), and proceedings under Chapter 3 of Part 5 of the Insolvency (Northern Ireland) Order 1989 (members’ voluntary winding up); arrangements and reconstructions under Part 26 of the Companies Act 2006[^f00061]; arrangements and reconstructions for companies in financial difficulty under Part 26A of the Companies Act 2006[^f00062]; the proceedings and arrangements set out in the Bankruptcy (Scotland) Act 2016[^f00063];

• “insolvent person” means a person (“P”), other than an individual, where— 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;

• “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[^f00064]; the Insurers (Reorganisation and Winding Up) (Lloyd’s) Regulations 2005[^f00065]; Parts 1 (special resolution regime) to 3 of the Banking Act 2009[^f00066] (including Parts 2 (bank insolvency) and 3 (bank administration) as applied to building societies by section 90C of the Building Societies Act 1986 (application of bank insolvency and administration legislation to building societies)[^f00067]); the Investment Bank Special Administration Regulations 2011[^f00068]; Part 6 of the Financial Services (Banking Reform) Act 2013 (special administration for operators of certain infrastructure systems)[^f00069]; the Payment and Electronic Money Institution Insolvency Regulations 2021[^f00070]; Schedule 11 to the Financial Services and Markets Act 2023 (central counterparties)[^f00071]; 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 (administration)[^f00072] or Schedule B1 to the Insolvency (Northern Ireland) Order 1989 (administration)[^f00073], and provides for the administrator to have one or more special objectives instead of or in addition to the objectives of ordinary administration.

Designated money service businesses

12

• (1) To enable a registered money service business which is a designated person to make a repayment, provided that—

• (a) no payments are made to a designated person, whether directly or indirectly,

• (b) the original payment did not contravene the prohibitions in regulations 14 to 18 (asset freeze etc.), and

• (c) the repayment would not be contrary to the interests of the prevention or detection of serious crime in the United Kingdom or elsewhere.

• (2) In sub-paragraph (1)—-

• “money service business” has the same meaning as it has in regulation 3 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (general interpretation)[^f00074];

• “original payment” means a payment from a person who is not a designated person (“P”) to the registered money service business which was made before the registered money service business became a designated person;

• “registered money service business” means a money service business included in a register provided for by regulation 54 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (duty to maintain registers of certain relevant persons)[^f00075];

• “repayment” means a payment from the registered money service business to P which is of the same amount as the original payment.

Signed

Stephen Doughty — Minister of State — Foreign, Commonwealth and Development Office — 21st July 2025

Explanatory note

(This note is not part of the Regulations)

Explanatory Note

These Regulations are made under the Sanctions and Anti-Money Laundering Act 2018 (c. 13) to establish a sanctions regime for the purpose of preventing and combating people smuggling, trafficking in persons and the instrumentalisation of migration for the purpose of destabilising a country.

The Regulations confer a power on the Secretary of State to designate persons who are, or have been, involved in people smuggling, trafficking in persons or instrumentalisation of migration, as well as criminal activities which facilitate, promote or provide support for such smuggling, trafficking or instrumentalisation or which are intended to do so. Designated persons may be excluded from the United Kingdom and may be made subject to financial sanctions, including having their funds or economic resources frozen, as well as director disqualification sanctions.

The Regulations provide for certain exceptions to this sanctions regime (for example to allow for frozen accounts to be credited with interest or other earnings and to allow acts done for the purpose of national security or the prevention of serious crime). The Regulations also confer powers on the Treasury and Secretary of State to issue licences in respect of activities that would otherwise be prohibited under the Regulations. Schedule 2 sets out the purposes for which the Treasury will issue such licences.

The Regulations prescribe powers for the provision and sharing of information to enable the effective implementation and enforcement of the sanctions regime. The Regulations make it a criminal offence to contravene, or circumvent, any of the prohibitions in these Regulations and prescribe the mode of trial and penalties that apply to such offences.

A full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sector is foreseen. Instead a de minimis assessment has been prepared as this instrument is likely to entail some costs for businesses, but the net impact is estimated to be below £10 million per year.

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) was amended by the Sentencing Act 2020 (c. 17), Schedule 24, paragraph 443(1); S.I. 2022/500; and S.I. 2023/149, regulation 2(1) and Part 1 of the Schedule. Sections 1, 11, 12 and 16 were amended by the Economic Crime (Transparency and Enforcement) Act 2022 (c. 10), sections 57, 58, 59 and 65. Sections 1, 15 and 17 were amended by the Economic Crime and Corporate Transparency Act 2023 (c. 56), sections 35 and 214. Section 3A was inserted by the Economic Crime and Corporate Transparency Act 2023, section 35(3).

[^f00003]: “Person” is defined by section 9(5) of the Act.

[^f00004]: 1986 c. 46. Section 11A was inserted by the Economic Crime and Corporate Transparency Act 2023, section 36(2).

[^f00005]: S.I. 2002/3150 (N.I. 4). Article 15A was inserted by the Economic Crime and Corporate Transparency Act 2023, section 38(2).

[^f00006]: 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 Act, section 59 and Schedule 3, Part 1.

[^f00007]: 2000 c. 8. Section 142D was inserted by the Financial Services (Banking Reform) Act 2013 (c. 33), section 4(1).

[^f00008]: Section 142A was inserted by the Financial Services (Banking Reform) Act 2013, section 4(1).

[^f00009]: Part 4A was inserted by the Financial Services Act 2012 (c. 21), section 11(2). It has been amended multiple times, including by the following enactments enacted from 2020 onwards: the Financial Services Act 2021 (c. 22), section 28 and Schedule 11, paragraphs 2 and 3; the Financial Services and Markets Act 2023 (c. 29), sections 20(3) and 86, Schedule 5, paragraphs 4 to 12 and Schedule 8, paragraph 4; S.I. 2021/1376; S.I. 2023/612; S.I. 2023/1410; and S.I. 2023/1424.

[^f00010]: Section 22 was amended by the Financial Services Act 2012, section 7(1); the Financial Guidance and Claims Act 2018 (c. 10), section 27(4); the Financial Services and Markets Act 2023, section 69(3); S.I. 2013/113; S.I. 2018/135 and S.I. 2023/779.

[^f00011]: S.I. 2001/544 as most recently amended by S.I. 2021/90; S.I. 2021/494; S.I. 2022/466; S.I. 2022/582; S.I. 2022/726; S.I. 2023/548; S.I. 2023/1411; S.I. 2024/105; S.I. 2024/169; S.I. 2024/719; and S.I. 2024/1239.

[^f00012]: 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, sections 7(2) to (5) and 8; the Financial Guidance and Claims Act 2018, section 27(13); S.I. 2013/1881; S.I. 2018/135; and S.I. 2019/632.

[^f00013]: Section 213 was amended by the Financial Services Act 2012, section 38 and Schedule 10, paragraph 3; the Financial Services Act 2021, section 22 and Schedule 8, paragraph 7; S.I. 2011/1613; S.I. 2017/701; S.I. 2018/1149; and S.I. 2022/466.

[^f00014]: 2006 asp 17.

[^f00015]: Section 79 was amended by the Financial Services Act 2012, section 16(2) and (3); S.I. 2005/1433 and S.I. 2024/105.

[^f00016]: Section 81 was amended by the Financial Services Act 2012, section 16(2) and (3).

[^f00017]: 1988 c. 41. Part 3 has been amended multiple times, including by the following enactments enacted from 2020 onwards: the Sentencing Act 2020, section 410 and Schedule 24, paragraph 443; the Non-Domestic Rating (Lists) Act 2021 (c. 8), sections 1(2), (3) and (4); the Non-Domestic Rating Act 2023 (c. 53), sections 1(1) and (2), 2(1), (2) and (3), 3(1) and (2), 4(2) and (3), 5(1), (2) and (3), 6(a) and (b), 7(a) and (b), 8, 11, 12(1) and (2), 17 and the Schedule, paragraphs 2, 3, 4, 5, 6, 7, 33, 34, 35, 36 and 37; the Local Government Finance (Wales) Act 2024 (asc 6), sections 2(2) and (3), 3(2) and (3), 4, 7(2), 8(2) and (3), 15 and the Schedule, paragraphs 1 and 19; S.I. 2022/217; S.I. 2022/500; S.I. 2022/563; and S.I. 2023/149.

[^f00018]: S.I. 1977/2157 (N.I. 28). Part 2 has been amended multiple times, including by the following enactment after 2020: S.R. 2024 No. 87.

[^f00019]: 1975 c. 40. Part 1 has been amended multiple times, including by the following enactments enacted from 2020 onwards: the Non-Domestic Rates (Scotland) Act 2020 (asp 4), sections 3, 7, 8, 9(a) and (b), 10(2), (3) and (4) and 21(2) and (3); S.S.I. 2022/126; S.S.I. 2023/45; and S.S.I. 2023/48.

[^f00020]: 1992 c. 14. Part 1 has been amended multiple times, including by the following enactments enacted from 2020 onwards: the Sentencing Act 2020, section 410 and Schedule 24, paragraph 443; the Levelling-up and Regeneration Act 2023 (c. 50), sections 56, 79(1), 80(2) and (3) and Schedule 4, paragraphs 111 and 112; the Local Government and Elections (Wales) Act 2021, sections 158(2), (3), (4) and (5); the Local Government Finance (Wales) Act 2024, sections 17(a), (b), (c) and (d), 18(2), (3), (4), (5), (6), (7), (8), (9) and (10), 19(2), (3), (4), (5) and (6), 20(1), (2) and (3); S.I. 2021/1265; S.I. 2022/210 (W. 68); S.I. 2022/370 (W. 90); S.I. 2022/500; S.I. 2022/1166 (W. 241); S.S.I. 2023/45; and S.I. 2023/149. Part 2 has been amended multiple times, including by the following enactments enacted from 2020 onwards: the Non-Domestic Rates (Scotland) Act 2020, section 6; and S.S.I. 2023/45.

[^f00021]: 2003 c. 26. Part 4 was amended by the Deregulation Act 2015 (c. 20), section 103 and Schedule 22, paragraph 19; and the Non-Domestic Rating Act 2023, section 17 and the Schedule, paragraph 14(2).

[^f00022]: 2009 c. 7. The Act was amended by the Localism Act 2011 (c. 20), section 68 and Schedule 25, Part 9; the Non-Domestic Rating Act 2023, section 17 and the Schedule, paragraphs 13 and 54; and the Local Government Finance (Wales) Act 2024, section 15 and the Schedule, paragraph 3.

[^f00023]: 2013 c. 5 (N.I.).

[^f00024]: 2006 c. 46.

[^f00025]: Part 6 has been amended multiple times, including by the following enactments enacted from 2020 onwards: the Financial Services and Markets Act 2023, section 57 and Schedule 11, paragraph 160; S.I. 2023/1424; and S.I. 2024/105.

[^f00026]: 1994 c. 39. Section 2 was amended by the Environment Act 1995 (c. 25), section 120 and Schedule 22, paragraph 232.

[^f00027]: Section 89P was inserted by the Financial Services Act 2012, section 19(1).

[^f00030]: Section 212 was amended by the Financial Services Act 2010 (c. 28), section 24 and Schedule 2, paragraph 21; the Financial Services Act 2012, section 38 and Schedule 10, paragraph 2; the Financial Services (Banking Reform) Act 2013, section 16; and the Financial Services and Markets Act 2023, section 62(2).

[^f00031]: Section 88(2) was amended by the Financial Services Act 2012, sections 16(2) and (3).

[^f00032]: Part 42 has been amended multiple times, including by the following enactment after 2020: S.I. 2025/444.

[^f00033]: 2014 c. 2.

[^f00034]: 2005 c. 19.

[^f00035]: 1979 c. 38. Section 1 was amended by the Law Reform (Miscellaneous Provisions) (Scotland) Act 1985 (c. 73), section 56 and Schedule 1, paragraph 1; the Planning (Consequential Provisions) Act 1990 (c. 11), section 4 and Schedule 2, paragraph 42; the Planning (Consequential Provisions) (Scotland) Act 1997 (c. 11), section 4 and Schedule 2, paragraph 28; the Planning Act (Northern Ireland) 2011 (c. 25 (N.I.)), section 252 and Schedule 6, paragraph 21; the Enterprise and Regulatory Reform Act 2013 (c. 24), section 70; the Historic Environment (Wales) Act 2023 (asc 3), section 211(1); S.I. 1991/2684; and S.I. 2001/1283.

[^f00036]: S.I. 2017/692. Regulation 56(6) was inserted by S.I. 2020/991. Regulation 56(5) was amended by S.I. 2019/1511; and S.I. 2020/991.

[^f00037]: 1994 c. 23.

[^f00038]: 1986 c. 45. Section 388 was amended by the Insolvency Act 2000 (c. 39), sections 4(2)(b) and (c); the Deregulation Act 2015, section 19 and Schedule 6, paragraph 2(11); the Corporate Insolvency and Governance Act 2020 (c. 12), section 2 and Schedule 3, paragraphs 21(2) and (3); S.I. 1994/2421; S.I. 2002/1240; S.I. 2002/2708; S.I. 2009/1941; S.I. 2016/1034; and S.I. 2019/146.

[^f00039]: 1989 No. 2405 (N.I. 19). Article 3 was amended by the Insolvency (Amendment) Act (Northern Ireland) 2016 (c. 2 (N.I.)), section 27(3) and Schedule 4; the Corporate Insolvency and Governance Act 2020, section 5 and Schedule 7, paragraphs 4(2) and (3); S.I. 2009/1941; and S.I. 2019/146.

[^f00040]: Section 1210 was amended by S.I. 2008/565; S.I. 2008/567; S.I. 2008/1950; S.I. 2011/99; S.I. 2012/1809; S.I. 2013/3115; S.I. 2017/516; S.I. 2017/1164; and S.I. 2019/177.

[^f00041]: 2017 c. 3. Section 146 was amended by the Economic Crime (Transparency and Enforcement) Act 2022, sections 54(2) and (3).

[^f00042]: 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.

[^f00043]: “Sanctions regulations” has the meaning given in section 1(5) of the Act.

[^f00044]: 2000 c. 22. Section 1(2) was inserted by the Local Government and Public Involvement in Health Act 2007 (c. 28), section 77(4).

[^f00045]: Section 2 has been amended by the Environment Act 1995, section 120 and Schedule 22, paragraph 232.

[^f00046]: 2016 c. 25. Parts 1 to 7 and Chapter 1 of Part 9 have been amended multiple times, including by the following enactments enacted from 2020 onwards: the Sentencing Act 2020, section 410 and Schedule 24, paragraph 443; the Armed Forces Act 2021 (c. 35), sections 11, 12, 24(1), Schedule 4, paragraph 2 and Schedule 5, paragraphs 44 and 45; the Finance (No. 2) Act 2023 (c. 30), section 352; the National Security Act 2023 (c. 32), section 94 and Schedule 18, paragraph 10; the Northern Ireland Troubles (Legacy and Reconciliation) Act 2023 (c. 41), section 58 and Schedule 13, paragraph 9; the Investigatory Powers (Amendment) Act 2024 (c. 9), sections 1(2), (4), (5), (7) and (8), 3(1), 4(2), (3), (4), (5) and (6), 6(2) and (3), 12(2) and (3), 14(2), (3), (4), (5), (6) and (7), 15(2), (3) and (4), 16(2), (3) and (4), 17(2) and (3), 18(2) and (3), 19(3), 20(2), (4), (6) and (7), 21(2), 22(2) and (3), 23(2), (3) and (4), 24(4), 25, 26 and 27(2); S.I. 2020/661; S.I. 2020/360; S.I. 2020/792; S.I. 2022/500; S.I. 2023/149; S.I. 2023/621; and S.I. 2024/514.

[^f00047]: 2018 c. 12. Section 3(9) was amended by S.I. 2019/419.

[^f00048]: 1995 c. 46.

[^f00049]: 1925 c. 86. Section 33 was amended by the Magistrates’ Court Act 1952 (c. 55 (15 & 16 Geo 6 & 1 Eliz 2)), section 132 and Schedule 6; the Courts Act 1971 (c. 23), section 56 and Schedule 8, paragraph 19; and the Courts Act 2003 (c. 39), section 110, Schedule 8, paragraph 71 and Schedule 10.

[^f00050]: 1980 c. 43. Schedule 3 was amended by the Criminal Justice Act 1991 (c. 53), sections 25(2), 101(2) and Schedule 13; the Criminal Procedure and Investigations Act 1996 (c. 25), section 47 and Schedule 1, paragraphs 13 and 39; the Criminal Justice Act 2003 (c. 44), section 41 and Schedule 3, paragraphs 51(13)(a) and (b) with S.I. 2012/1320, S.I. 2012/2574, and S.I. 2013/1103.

[^f00051]: 1945 c. 15 (N.I.). Section 18 was amended by the Magistrates' Courts Act (Northern Ireland) 1964 (c. 21); and 1972 No. 538 (N.I. 1). The effect of the amendment by 1972 No. 538 was continued by the Justice (Northern Ireland) Act 2002 (c. 26), section 85 and Schedule 12, paragraph 1.

[^f00052]: S.I. 1981/1675 (N.I. 26). Schedule 4 was amended by Criminal Justice (Committal Reform) Act (Northern Ireland) 2022 (c. 4), section 5(2) and the Schedule, paragraph 8(3).

[^f00053]: 2005 c. 15. Chapter 1 of Part 2 has been amended by the Terrorism Act 2006 (c. 11), sections 33(1), (2), (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 Act, section 59(4) and Schedule 3, paragraph 4; the Economic Crime and Corporate Transparency Act 2023, section 206; S.I. 2006/1629; S.I. 2014/834; and S.I. 2023/149.

[^f00054]: 1986 c. 45.

[^f00055]: S.I. 1989/2405 (N.I. 19).

[^f00056]: United Nations Treaty Series, vol. 596, p. 261.

[^f00057]: United Nations Treaty Series, vol. 500, p. 95.

[^f00058]: Parts A1 to 6 have been amended multiple times, including by the following enactments enacted from 2020 onwards: the Corporate Insolvency and Governance Act 2020, sections 2, 7, 14(1), Schedule 3, paragraphs 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 14, 15, 16 17, 18 and 19 and Schedule 9, paragraph 6; the Moveable Transactions (Scotland) Act 2023 (asp 3), sections 61(a) and (b); and the Economic Crime and Corporate Transparency Act 2023, section 77(1).

[^f00059]: Parts A1 to 6 have been amended multiple times, including by the following enactments enacted from 2020 onwards: the Corporate Insolvency and Governance Act 2020, sections 5, 7, Schedule 7, paragraphs 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 18 and Schedule 9, paragraph 9; and the Economic Crime and Corporate Transparency Act 2023, section 77(2).

[^f00060]: Part 1 has been amended multiple times, including by the following enactments enacted from 2020 onwards: the Corporate Insolvency and Governance Act 2020, sections 5, 9(6), 18(2) and Schedule 7, paragraphs 2, 3, 4 and 5.

[^f00061]: Part 26 was amended by the Corporate Insolvency and Governance Act 2020, section 7 and Schedule 9, paragraphs 35(3) and (4); S.I. 2008/948; and S.I. 2011/1265.

[^f00062]: Part 26A was inserted by the Corporate Insolvency and Governance Act 2020, section 49(1) and Schedule 9, paragraph 1.

[^f00063]: 2016 asp 21. The Act has been amended multiple times, including by the following enactments enacted from 2020 onwards: the Finance Act 2020 (c. 14), sections 98(3) and (4); the Coronavirus (Recovery and Reform) (Scotland) Act 2022 (asp 8), sections 19(2) and (3), 20(2), 21(2), 22(2), 23(3) and 24(2) and (3); the Economic Crime and Corporate Transparency Act 2023, sections 135(2) and (3); the Bankruptcy and Diligence (Scotland) Act 2024 (asp 9), sections 6(2), 9(2) and (3), 8(2), 10(2) and 13(2) and (3); S.I. 2021/1376; S.S.I. 2021/148; S.I. 2022/838; S.S.I. 2023/9; and S.S.I. 2024/198.

[^f00064]: Sections 367 was amended by the Financial Services Act 2012, section 44 and Schedule 14, paragraphs 14(2), (3), (4), and (5). Sections 377A to 377J were inserted by the Financial Services and Markets Act 2023, section 33 and Schedule 12, paragraph 1(4). Schedule 19C was inserted by the Financial Services and Markets Act 2023, section 58 and Schedule 13, paragraph 1(3).

[^f00065]: S.I. 2005/1998. The Regulations have been amended multiple times, including by the following enactments enacted from 2020 onwards: S.I. 2020/744.

[^f00066]: 2009 c. 1. Parts 1 to 3 have been amended multiple times, including by the following enactments enacted from 2020 onwards: the Corporate Insolvency and Governance Act 2020, section 2 and Schedule 3, paragraph 42; the Financial Services and Market Act 2023, sections 57, 75(2), (3) and (4) and Schedule 11, paragraphs 162(2), (3), (4), (5) and (6); S.I. 2020/1350; S.I. 2020/1385; S.I. 2020/1470; S.I. 2021/1376; S.I. 2022/838; S.I. 2023/1410; S.I. 2023/1424; and S.I. 2024/105.

[^f00067]: 1986 c. 53. Section 90C was inserted by S.I. 2009/805.

[^f00068]: S.I. 2011/245. The Regulations have been amended multiple times, including by the following enactments enacted from 2020 onwards: the Corporate Insolvency and Governance Act 2020, sections 2, 17(2) and Schedule 3, paragraphs 47 and 48; S.I. 2020/354; S.I. 2021/716; S.I. 2022/168; and S.R. 2023 No.157.

[^f00069]: 2013 c. 33. Part 6 has been amended multiple times, including by the following enactments enacted from 2020 onwards: the Corporate Insolvency and Governance Act 2020, section 7 and Schedule 9, paragraph 49(2); and the Financial Services and Markets Act 2023, sections 22, 55, Schedule 6, paragraph 45, 46, 47(2) and (3) and Schedule 9, paragraphs 4(2) to (5), 5, 6, 7, 8 and 9.

[^f00070]: S.I. 2021/716. These Regulations were amended by S.I. 2023/1399; and S.I. 2025/82.

[^f00071]: Schedule 11 was amended by S.I. 2024/105.

[^f00072]: Schedule B1 was inserted by the Enterprise Act 2002 (c. 40), section 248 and Schedule 16. It has been amended multiple times, including by the following enactments enacted from 2020 onwards: the Corporate Insolvency and Governance Act 2020, sections 2, 7, 8, Schedule 3, paragraph 31 and Schedule 9, paragraph 7.

[^f00073]: Schedule B1 was inserted by S.I. 2005/1455 (N.I. 10). It has been amended multiple times, including by the following enactments enacted from 2020 onwards: the Corporate Insolvency and Governance Act 2020, sections 5, 7, 9(3) to (5), Schedule 7, paragraph 27, and Schedule 9, paragraph 10.

[^f00074]: Although there are amendments to regulation 3 none of these amends the definition of money service business.

[^f00075]: Regulation 54(1A) was inserted by S.I. 2019/1511.

Rights to appoint or remove members of the board

Shares or rights held “indirectly”

Shares held by nominees

Rights treated as held by person who controls their exercise

Rights exercisable only in certain circumstances etc.

Rights attached to shares held by way of security

Editorial notes

[^key-9bcde840aae235d440e218b8423412a1]: Reg. 1 in force at 23.7.2025, see reg. 1(2)

[^key-d2d9ffa7834051a40fb9778f915d754c]: Reg. 2 in force at 23.7.2025, see reg. 1(2)

[^key-6201cfecdc053a60c83264324b9ef2bc]: Reg. 3 in force at 23.7.2025, see reg. 1(2)

[^key-fe1b5f4ea563c15d4ab7170da55760f6]: Reg. 4 in force at 23.7.2025, see reg. 1(2)

[^key-67f40994abebada1938d2f5ff05acc3b]: Reg. 5 in force at 23.7.2025, see reg. 1(2)

[^key-beb90c06b70752c3c357dc975642bd2c]: Reg. 6 in force at 23.7.2025, see reg. 1(2)

[^key-045b602983a7b89468fabf9648b9b28a]: Reg. 7 in force at 23.7.2025, see reg. 1(2)

[^key-eb3f1f2c12824a8ff0f3df13fee5b178]: Reg. 8 in force at 23.7.2025, see reg. 1(2)

[^key-ee3193e67307d4ef30b689e5bdfd25f3]: Reg. 9 in force at 23.7.2025, see reg. 1(2)

[^key-6d2c0a0518df4335fc3ea8db03bb0f5c]: Reg. 10 in force at 23.7.2025, see reg. 1(2)

[^key-5b89aca9f07a708ff29f2f7bf638ff1e]: Reg. 11 in force at 23.7.2025, see reg. 1(2)

[^key-3eb31defac3d156d5b08ff3829b0374a]: Reg. 12 in force at 23.7.2025, see reg. 1(2)

[^key-34061f99c260d053c0768f62767f22d5]: Reg. 13 in force at 23.7.2025, see reg. 1(2)

[^key-cebadb3a4ae25401976a7e500f4dd66c]: Reg. 14 in force at 23.7.2025, see reg. 1(2)

[^key-0a94b0f08f33b817f704cc5e5ee19464]: Reg. 15 in force at 23.7.2025, see reg. 1(2)

[^key-e580596e4caec14781359f9451e3d935]: Reg. 16 in force at 23.7.2025, see reg. 1(2)

[^key-13b9edc8e930088cb12fad740c53dd65]: Reg. 17 in force at 23.7.2025, see reg. 1(2)

[^key-7342a363a6c54a9c479d224341224595]: Reg. 18 in force at 23.7.2025, see reg. 1(2)

[^key-8e7b39472e04946022c765942d33188f]: Reg. 19 in force at 23.7.2025, see reg. 1(2)

[^key-cf99981bf75969f24882dbd3b2bf9943]: Reg. 20 in force at 23.7.2025, see reg. 1(2)

[^key-73286bfe478dfd2f9781ed458044ff7e]: Reg. 21 in force at 23.7.2025, see reg. 1(2)

[^key-db1b02c398fa5776e0c33c220763dca8]: Reg. 22 in force at 23.7.2025, see reg. 1(2)

[^key-67b2851c33e4e41252f845795971a3aa]: Reg. 23 in force at 23.7.2025, see reg. 1(2)

[^key-ba336cd028f4af5eb8ad807147df6cfb]: Reg. 24 in force at 23.7.2025, see reg. 1(2)

[^key-f71626a630a5a6a0476596dd8073ae64]: Reg. 25 in force at 23.7.2025, see reg. 1(2)

[^key-09c0b2d1977ef7bd080e0c15f7e9e4ed]: Reg. 26 in force at 23.7.2025, see reg. 1(2)

[^key-d53b172b2cb2ce93bee78d142f7a389e]: Reg. 27 in force at 23.7.2025, see reg. 1(2)

[^key-58f175a31bc680de36eef1dc43caf12b]: Reg. 28 in force at 23.7.2025, see reg. 1(2)

[^key-f98ac2316e687dfc4ffcb1cc7ac4b724]: Reg. 29 in force at 23.7.2025, see reg. 1(2)

[^key-208d997cb189967a0d8c0caed0636b7d]: Reg. 30 in force at 23.7.2025, see reg. 1(2)

[^key-c3cf53b06a6d8e25fcac0018c8f2c660]: Reg. 31 in force at 23.7.2025, see reg. 1(2)

[^key-c483b10a09cc0d6f1f31db9a8c36ba00]: Reg. 32 in force at 23.7.2025, see reg. 1(2)

[^key-a10cdfe98e13dbaffd3192183949ac61]: Reg. 33 in force at 23.7.2025, see reg. 1(2)

[^key-03a40a660cd22f0283151c35d93c6000]: Reg. 34 in force at 23.7.2025, see reg. 1(2)

[^key-8fb7b9ac77809daa0abceaf5c2db6a07]: Reg. 35 in force at 23.7.2025, see reg. 1(2)

[^key-37f604b2c0a7f02f0d3b322d7ea3104c]: Reg. 36 in force at 23.7.2025, see reg. 1(2)

[^key-70077ea820d5efdc8ff8f144d6d326ed]: Reg. 37 in force at 23.7.2025, see reg. 1(2)

[^key-a125443771411933f79b3d889bfe35b0]: Reg. 38 in force at 23.7.2025, see reg. 1(2)

[^key-634117a2509980f5584efab90942516b]: Reg. 39 in force at 23.7.2025, see reg. 1(2)

[^key-9d3b1c6bc1d8e66c77679952e31bb6b7]: Reg. 40 in force at 23.7.2025, see reg. 1(2)

[^key-0024208fd9a599cc4a013e1ed65f6981]: Reg. 41 in force at 23.7.2025, see reg. 1(2)

[^key-9246d6764ceb2ca4051c01400aeb56f7]: Reg. 42 in force at 23.7.2025, see reg. 1(2)

[^key-4e885992b9ee33c7c1e63440db53a7fb]: Reg. 43 in force at 23.7.2025, see reg. 1(2)

[^key-80b4221daf7a0fdd193b4512bb5cecca]: Reg. 44 in force at 23.7.2025, see reg. 1(2)

[^key-84ec90bd23b3b5d3971dfebe527bb02b]: Reg. 45 in force at 23.7.2025, see reg. 1(2)

[^key-e79ec307fb826736c661aff135112612]: Reg. 46 in force at 23.7.2025, see reg. 1(2)

[^key-1df585c6ba6f73cf0cfb551092ece733]: Reg. 47 in force at 23.7.2025, see reg. 1(2)

[^key-f78c331e25305748c746761b9eb5cbbe]: Sch. 1 para. 1 in force at 23.7.2025, see reg. 1(2)

[^key-bb8098cfccd84747d853ebaf7e81881c]: Sch. 1 para. 2 in force at 23.7.2025, see reg. 1(2)

[^key-9dc1975cd206542a8f7cb4e275da90e5]: Sch. 1 para. 3 in force at 23.7.2025, see reg. 1(2)

[^key-622161c867dcc071fdb731d8d325d5de]: Sch. 1 para. 4 in force at 23.7.2025, see reg. 1(2)

[^key-c725a42625dd2f6386fc1ea4f4f829e3]: Sch. 1 para. 5 in force at 23.7.2025, see reg. 1(2)

[^key-5012001ec31d89c75f644cee23d81777]: Sch. 1 para. 6 in force at 23.7.2025, see reg. 1(2)

[^key-b03870e054227ac35ced2ec466353abe]: Sch. 1 para. 7 in force at 23.7.2025, see reg. 1(2)

[^key-fa60e1df6eba407f30f57c8c6abe63ce]: Sch. 1 para. 8 in force at 23.7.2025, see reg. 1(2)

[^key-ac41e5f450bc3400998a0fc61db43071]: Sch. 1 para. 9 in force at 23.7.2025, see reg. 1(2)

[^key-e0ca8b425e49445e6aed8e6e4b7669f1]: Sch. 1 para. 10 in force at 23.7.2025, see reg. 1(2)

[^key-de193cccfc6ee6b81f9e11e1551efdef]: Sch. 1 para. 11 in force at 23.7.2025, see reg. 1(2)

[^key-4735f244d99b34eba5ad2a3c9e1feb30]: Sch. 1 para. 12 in force at 23.7.2025, see reg. 1(2)

[^key-d9c5cb7e5743482f7d7c8249ad5830c6]: Sch. 1 para. 13 in force at 23.7.2025, see reg. 1(2)

[^key-2aacd86b3d738ff7f072f858cb25d77f]: Sch. 1 para. 14 in force at 23.7.2025, see reg. 1(2)

[^key-68978ce2cdf1417a8051c7a51b0acbce]: Sch. 2 para. 1 in force at 23.7.2025, see reg. 1(2)

[^key-11b0d9717c499aa800a8c02b49a9049c]: Sch. 2 para. 2 in force at 23.7.2025, see reg. 1(2)

[^key-9ee4d89daedce6c1751f09e4d82b7bde]: Sch. 2 para. 3 in force at 23.7.2025, see reg. 1(2)

[^key-461fd79d4f7d466db150e373c4fb5f06]: Sch. 2 para. 4 in force at 23.7.2025, see reg. 1(2)

[^key-53ba7a8f7e0f26f6c023beb23de72801]: Sch. 2 para. 5 in force at 23.7.2025, see reg. 1(2)

[^key-5c86fb34e7297a6d9e89ddc551d75cba]: Sch. 2 para. 6 in force at 23.7.2025, see reg. 1(2)

[^key-2a773976bc34d83b416c2e1b422c9d5f]: Sch. 2 para. 7 in force at 23.7.2025, see reg. 1(2)

[^key-7aeea3ed8afee80fddbc7d28318a6a5d]: Sch. 2 para. 8 in force at 23.7.2025, see reg. 1(2)

[^key-34c42fb43ad831fb0eba923f09299826]: Sch. 2 para. 9 in force at 23.7.2025, see reg. 1(2)

[^key-72ab07b03b7a75ffa947101b6ac198ee]: Sch. 2 para. 10 in force at 23.7.2025, see reg. 1(2)

[^key-958f732e652208f13a207a63d506c77a]: Sch. 2 para. 11 in force at 23.7.2025, see reg. 1(2)

[^key-6baf1e4f1ca048a7428d253f361ae7eb]: Sch. 2 para. 12 in force at 23.7.2025, see reg. 1(2)

[^key-7a7c1c56b56b00a386957fd7873b4b76]: Words in reg. 23(8) substituted (19.1.2026) by The Public Offers and Admissions to Trading (Amendment and Consequential and Transitional Provisions) Regulations 2025 (S.I. 2025/1076), reg. 1(3), Sch. para. 43(a); S.I. 2025/1078, reg. 5(b)

[^key-69605a2c9910f537444ccfa3d62e687d]: Words in reg. 23(8) omitted (19.1.2026) by virtue of The Public Offers and Admissions to Trading (Amendment and Consequential and Transitional Provisions) Regulations 2025 (S.I. 2025/1076), reg. 1(3), Sch. para. 43(b); S.I. 2025/1078, reg. 5(b)