Sanctions and Anti-Money Laundering Act 2018

22 Power to vary or revoke designation made under regulations

(1) In this section and section 23—

• “a relevant designation” means a designation made under a designation power contained in regulations under section 1;

• “the Minister”, in relation to a relevant designation, means the appropriate Minister who made that designation.

(2) A relevant designation may at any time be varied or revoked by the Minister.

(3) If at any time the Minister considers that the required conditions are not met in respect of a relevant designation, the Minister must revoke the designation.

(4) In subsection (3) “the required conditions” means—

(a) if the designation is of a named person, the conditions of the provision included in the regulations under section 11(2) (reading that provision, so far as made under section 11(2)(b), as if references to the designation were references to leaving the designation in place),

(b) if the designation is of persons of a specified description, the conditions of the provision included in the regulations under section 12(2) (reading that provision, so far as made under section 12(5)(b), as if references to the designation were references to leaving the designation in place).