The Russia (Sanctions) (EU Exit) Regulations 2019

[F1Financial services and funds relating to goldU.K.

This section has no associated Explanatory Memorandum

46Z15.—[F2(1) A person must not directly or indirectly provide financial services or funds in pursuance of or in connection with an arrangement whose object or effect is—

(a)the import of gold which on or after the relevant day—

(i)originated in Russia, or

(ii)is consigned from Russia;

(b)the direct or indirect acquisition of gold which on or after the relevant day—

(i)originated in Russia, and

(ii)is located in Russia,

with the intention of that gold entering the United Kingdom;

F3(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

(2) Paragraph (1) is subject to Part 7 (Exceptions and licences).

(3) A person who contravenes a prohibition in paragraph (1) commits an offence, but it is a defence for a person charged with the offence of contravening paragraph (1) to show that the person did not know and had no reasonable cause to suspect that the financial services or funds (as the case may be) were provided in pursuance of or in connection with an arrangement mentioned in that paragraph.]

Textual Amendments