The Republic of Belarus (Sanctions) (EU Exit) Regulations 2019

[F1 [F2 Provision of financial services relating to foreign exchange reserve and asset management U.K.

15CA.— (1) A person (“P”) must not provide financial services to a person mentioned in paragraph (2) where—

(a) the financial services are for the purpose of foreign exchange reserve and asset management; and

(b) P knows, or has reasonable cause to suspect, that the financial services are provided to such a person.

(2) The persons mentioned in this paragraph are—

(a) the National Bank of Belarus,

(b) the Ministry of Finance of Belarus,

(c) a person owned or controlled directly or indirectly (within the meaning of regulation 7) by a person mentioned in sub-paragraphs (a) or (b), or

(d) a person acting on behalf of or at the direction of a person mentioned in sub-paragraphs (a) or (b).

(3) Paragraph (1) is subject to Part 6 (Exceptions and licences).

(4) A person who contravenes the prohibition in paragraph (1) commits an offence.]]

Textual Amendments

F1 Pt. 3 Ch. 2 inserted (14.10.2021 at noon) by The Republic of Belarus (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2021 (S.I. 2021/1146), regs. 1(2), 8

F2 Reg. 15CA inserted (5.7.2022) by The Republic of Belarus (Sanctions) (EU Exit) (Amendment) Regulations 2022 (S.I. 2022/748), regs. 1(2), 13