Amendment of regulation 16 (dealing with transferable securities or money-market instruments)

4.  In regulation 16—

(a) after paragraph (4F), insert—

“(4G) A person (“P”) must not, directly or indirectly, deal with a transferable security or money-market instrument falling within paragraph (4H) if P knows, or has reasonable cause to suspect, that P is dealing with such a transferable security or money-market instrument.

(4H) A transferable security or money-market instrument falls within this paragraph if it is issued—

(a) on or after 16th December 2022,

(b) by a person, other than an individual, which is not a person connected with Russia, and

(c) for the purposes of an activity mentioned in regulation 18B(2).”;

(b) in paragraph (5), for “and (4E)” substitute “, (4E) and (4G)”;

(c) in paragraph (6), for “and (4E)” substitute “, (4E) or (4G)”.