The Libya (Financial Sanctions) Order 2011

Interpretation

2.—(1) In this Order—

“the 2000 Act” means the Financial Services and Markets Act 2000(1);

“designated person” means an individual or entity—

(a)

listed in Annex II to the Security Council Resolution, or

(b)

designated by the Committee established in accordance with the Security Council Resolution;

“document” includes information recorded in any form and, in relation to information recorded otherwise than in legible form, references to its production include producing a copy of the information in legible form;

“relevant institution” means—

(a)

a person who has permission under Part 4 of the 2000 Act (permission to carry on regulated activities)(2);

(b)

an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to the 2000 Act (EEA passport rights)(3) which has permission under paragraph 15 of that Schedule(4) as a result of qualifying for authorisation under paragraph 12 of that Schedule(5) to accept deposits; or

(c)

an undertaking which by way of business operates a currency exchange office, transmits money (or any representations of monetary value) by any means or cashes cheques which are made payable to customers;

“Sanctions Committee” means the Committee of the Security Council established under the Security Council Resolution;

“Security Council” means the Security Council of the United Nations;

“Security Council Resolution” means Resolution 1970 (2011) adopted by the Security Council on 26th February 2011.

(2) The definition of “relevant institution” in paragraph (1) must be read with—

(a) section 22 of the 2000 Act (the classes of activity and categories of investment),

(b) any relevant order under that section(6), and

(c) Schedule 2 to that Act (regulated activities).

(1)

2000 c.8.

(2)

As amended by the Financial Services Act 2010 (c.28), section 3.

(3)

As amended by S.I. 2006/3221.

(4)

As amended by S.I. 2003/2066, S.I. 2007/3253, the Enterprise Act 2002 (c.40), section 278(1), Schedule 25, paragraphs 19(a) and 40(1), and the Consumer Credit Act 2006 (c.14), section 33(9).

(5)

As amended by S.I. 2007/126 and S.I. 2007/3253.

(6)

The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2001 (S.I. 2001/544) as amended, most recently by the Financial Services and Markets Act 2000 (Regulated Activities) Order 2011 (S.I. 2011/133).