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The Venezuela (Sanctions) (Overseas Territories) Order 2018

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3.—(1) In this Order—

“aircraft” means a fixed wing, swivel wing, rotary wing, tilt rotor or tilt wing airborne vehicle or helicopter;

“arms and related materiel” means—

(a)

the goods, software and technology specified in Schedule 2 to the Export Control Order 2008(1), and

(b)

so far as not covered by paragraph (a), the goods, software and technology specified in the Common Military List of the European Union(2) as amended from time to time;

“brokering services” means—

(a)

the negotiation or arrangement of transactions for the purchase, sale or supply of goods and technology or of financial and technical services, including from a third country to any other third country, or

(b)

the selling or buying of goods and technology or of financial and technical services, including where they are located in third countries for their transfer to another third country;

“commander”, in relation to an aircraft, means the member of the flight crew designated as commander of the aircraft by the operator of the aircraft, or, if there is no operator, the person who is for the time being the pilot in command of the aircraft;

“competent authority” means a competent authority of a Member State of the European Union as identified on the websites listed in Annex III to the Council Regulation;

“the Council Decision” means Council Decision (CFSP) 2017/2074 of 13th November 2017 concerning restrictive measures in view of the situation in Venezuela(3);

“the Council Regulation” means Council Regulation (EU) 2017/2063 of 13th November 2017 concerning restrictive measures in view of the situation in Venezuela(4);

“designated person” means any person listed in Annex IV or V to the Council Regulation;

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

“economic resources” means assets of every kind, whether tangible or intangible, movable or immovable, which are not funds but may be used to obtain funds, goods or services;

“equipment which might be used for internal repression” means the equipment specified in Annex I to the Council Regulation;

“export” includes shipment as stores;

“financing and financial assistance” include grants, loans and export credit insurance, insurance and reinsurance;

“frozen account” means an account with a relevant institution which is held or controlled (directly or indirectly) by a designated person;

“funds” means financial assets and benefits of every kind, including—

(a)

cash, cheques, claims on money, drafts, money orders and other payment instruments,

(b)

deposits with relevant institutions or other entities, balances on accounts, debts and debt obligations,

(c)

publicly and privately traded securities and debt instruments, including stocks and shares, certificates representing securities, bonds, notes, warrants, debentures and derivatives contracts,

(d)

interest, dividends or other income on or value accruing from or generated by assets,

(e)

credit, rights of set-off, guarantees, performance bonds or other financial commitments,

(f)

letters of credit, bills of lading and bills of sale,

(g)

documents showing evidence of an interest in funds or financial resources, and

(h)

any other instrument of export financing;

“goods” includes items, materials and equipment;

“Governor” means the Governor or other officer administering the Government of the Territory;

“insurance” means an undertaking or commitment where a person is obliged, in return for a payment, to provide another person, in the event of materialisation of a risk, with an indemnity or a benefit as determined by the undertaking or commitment;

“master”, in relation to a ship, includes any person for the time being in charge of the ship;

“officer”, in relation to a body corporate, means a director, manager, secretary or other similar officer of the body corporate or any person who has purported to act in any such capacity;

“operator”, in relation to an aircraft or vehicle, means the person for the time being having the management of the aircraft or vehicle;

“reinsurance” means the activity consisting in accepting risks ceded by an insurance undertaking or by another reinsurance undertaking or, in the case of the association of underwriters known as Lloyd’s, the activity consisting in accepting risks, ceded by any member of Lloyd’s, by an insurance or reinsurance undertaking other than the association of underwriters known as Lloyd’s;

“relevant institution” means—

(a)

any person who may lawfully accept deposits in or from within the Territory by way of business, or

(b)

any society established lawfully in the Territory whose principal purpose is the making of loans secured on residential property where such loans are funded substantially by its members;

“restricted goods” means—

(a)

arms and related materiel,

(b)

equipment which might be used for internal repression, and

(c)

surveillance equipment;

“ship” includes every description of vessel used in navigation;

“shipment” includes loading into an aircraft;

“stores” means goods for use in a ship or aircraft and includes fuel and spare parts and other articles of equipment, whether or not for immediate fitting, but excludes any goods for use in a ship or aircraft as merchandise for sale by retail to persons carried in them;

“surveillance equipment” means the equipment, technology and software specified in Annex II to the Council Regulation;

“surveillance services” means services that provide, in particular using surveillance equipment, access to and delivery of a person’s incoming and outgoing telecommunications and call-associated data for the purpose of its extraction, decoding, recording, processing, analysis or storing, or any other related activity;

“technical assistance” means any technical support related to repairs, development, manufacture, assembly, testing, maintenance, or any other technical service, and may take forms such as instruction, advice, training, transmission of working knowledge or skills, or consulting services, including verbal forms of assistance;

“the Territory” has the meaning given in article 2(3);

“transfer”, in relation to funds, means—

(a)

any transaction carried out on behalf of a payer through a payment service provider by electronic means, with a view to making funds available to a payee at a payment service provider, regardless of whether the payer and the payee are the same person, or

(b)

any transaction by non-electronic means such as in cash, cheques or accountancy orders, with a view to making funds available to a payee regardless of whether the payer and payee are the same person;

“vehicle” means land transport vehicle.

(2) For the purpose of the definition of “relevant institution” in paragraph (1)—

(a)the activity of accepting deposits has the meaning given by section 22 of the Financial Services and Markets Act 2000(5), taken with Schedule 2 to that Act and any order under section 22 of that Act, and

(b)a person is not regarded as accepting deposits by way of business if—

(i)the person does not hold himself or herself out as accepting deposits on a day to day basis, and

(ii)any deposits which the person accepts are accepted only on particular occasions, whether or not involving the issue of any securities.

(3) In determining for the purposes of paragraph (2)(b)(ii) whether deposits are accepted only on particular occasions, regard is to be had to the frequency of those occasions and to any characteristics distinguishing them from each other.

(4) A reference in this Order to any enactment (including legislation of the European Union) or statutory instrument is to be construed as a reference to that enactment or instrument as amended from time to time.

(2)

O.J. C. 97, 28.3.2017, p1.

(3)

O.J. L. 295, 14.11.2017, p60.

(4)

O.J. L. 295, 14.11.2017, p21.

(5)

2000 c.8; section 22 was amended by the Financial Services Act 2012 (c.21), section 7(1).

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