The Russia (Sanctions) (EU Exit) Regulations 2019

Regulation 64(2)

SCHEDULE 5 U.K. Treasury licences: purposes

[F1 PART A1 U.K. Interpretation

Textual Amendments

F1 Sch. 5 Pt. A1 inserted (1.3.2022) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2022 (S.I. 2022/194), regs. 1(2), 14(a)

Interpretation of Schedule 5 U.K.

A1.   In this Schedule—

“consular post” has the same meaning as in the Vienna Convention on Consular Relations done at Vienna on 24 April 1963F2 , and any reference to the functions of a consular post is to be read in accordance with that Convention;

“diplomatic mission” and any reference to the functions of a diplomatic mission are to be read in accordance with the Vienna Convention on Diplomatic Relations done at Vienna on 18 April 1961F3 ;

“humanitarian assistance activity” includes the work of international and non-governmental organisations carrying out relief activities for the benefit of the civilian population of a country;

“medical goods” includes medicines and medical devices;

[F4 “relevant financial authority” means authorities involved in the regulation of financial services in the United Kingdom, including the Financial Conduct Authority, the Prudential Regulation Authority and the Bank of England;]

“spaceflight activity” has the meaning given in section 1(6) of the Space Industry Act 2018.]

Textual Amendments

F2 United Nations Treaty Series, vol. 596, p.261.

F3 United Nations Treaty Series, vol. 500, p. 95.

F4 Words in Sch. 5 para. A1 inserted (16.12.2022) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 17) Regulations 2022 (S.I. 2022/1331), regs. 1(2)(b), 20(4)(a)

PART 1 U.K. Asset-freeze etc.

Interpretation [F5 of Part 1] U.K.

1.  In this Part of this Schedule—

“designated person” has the same meaning as it has in Chapter 1 of Part 3 ([F6 Asset-freeze etc.]);

“frozen funds or economic resources” means funds or economic resources frozen by virtue of regulation 11, and any reference to a person's frozen funds or economic resources is to funds or economic resources frozen as a consequence of the designation of that person for the purpose of that regulation.

Textual Amendments

F5 Words in Sch. 5 para. 1 heading inserted (1.3.2022) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2022 (S.I. 2022/194), regs. 1(2), 14(b)

F6 Words in Sch. 5 para. 1 substituted (1.3.2022) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2022 (S.I. 2022/194), regs. 1(2), 14(c)

Commencement Information

I1 Sch. 5 para. 1 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Basic needs U.K.

2.—(1) To enable the basic needs of a designated person, or (in the case of an individual) any dependent family member of such a person, to be met.

(2) In the case of an individual, in sub-paragraph (1) “basic needs” includes—

(a) medical needs;

(b) needs for—

(i) food;

(ii) [F7 payment] of insurance premiums;

(iii) [F8 payment] of tax;

(iv) rent or mortgage payments;

(v) utility payments.

(3) In the case of a person other than an individual, in sub-paragraph (1) “basic needs” includes needs for—

(a) payment of insurance premiums;

(b) payment of reasonable fees for the provision of property management services;

(c) payment of remuneration, allowances or pensions of employees;

(d) payment of tax;

(e) rent or mortgage payments;

(f) utility payments.

(4) In sub-paragraph (1)—

“dependent” means financially dependent;

“family member” includes—

(a)

the wife or husband of the designated person;

(b)

the civil partner of the designated person;

(c)

any parent or other ascendant of the designated person;

(d)

any child or other descendant of the designated person;

(e)

any person who is a brother or sister of the designated person, or a child or other descendant of such a person.

Textual Amendments

F7 Word in Sch. 5 para. 2(2)(b)(ii) substituted (31.12.2020 immediately after IP completion day) by The Sanctions (EU Exit) (Miscellaneous Amendments) (No. 2) Regulations 2020 (S.I. 2020/590), regs. 1(2), 10(15); S.I. 2020/1514, reg. 4

F8 Word in Sch. 5 para. 2(2)(b)(iii) substituted (31.12.2020 immediately after IP completion day) by The Sanctions (EU Exit) (Miscellaneous Amendments) (No. 2) Regulations 2020 (S.I. 2020/590), regs. 1(2), 10(15); S.I. 2020/1514, reg. 4

Commencement Information

I2 Sch. 5 para. 2 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Legal services U.K.

3.  To enable the payment of—

(a) reasonable professional fees for the provision of legal services, or

(b) reasonable expenses associated with the provision of legal services.

Commencement Information

I3 Sch. 5 para. 3 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Maintenance of frozen funds and economic resources U.K.

4.  To enable the payment of—

(a) reasonable fees, or

(b) reasonable service charges,

arising from the routine holding or maintenance of frozen funds or economic resources.

Commencement Information

I4 Sch. 5 para. 4 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Extraordinary expenses U.K.

5.  To enable an extraordinary expense of a designated person to be met.

Commencement Information

I5 Sch. 5 para. 5 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Pre-existing judicial decisions etc. U.K.

6.  To enable, by the use of a designated person's frozen funds or economic resources, the implementation or satisfaction (in whole or in part) of a judicial, administrative or arbitral decision or lien, provided that—

(a) the funds or economic resources so used are the subject of the decision or lien,

(b) the decision or lien—

(i) was made or established before the date on which the person became a designated person, and

(ii) is enforceable in the United Kingdom, and

(c) the use of the frozen funds or economic resources does not directly or indirectly benefit any other designated person.

Commencement Information

I6 Sch. 5 para. 6 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Extraordinary situation U.K.

7.  To enable anything to be done to deal with an extraordinary situation.

Commencement Information

I7 Sch. 5 para. 7 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Prior obligations U.K.

8.  To enable, by the use of a designated person's frozen funds or economic resources, the satisfaction of an obligation of that person (whether arising under a contract, other agreement or otherwise), provided that—

(a) the obligation arose before the date on which the person became a designated person, and

(b) no payments are made to another designated person, whether directly or indirectly.

Commencement Information

I8 Sch. 5 para. 8 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Consular posts U.K.

9.—(1) To enable anything to be done in order that the functions of a consular post in [F9 non-government controlled Ukrainian territory], or of an international organisation enjoying immunities in accordance with international law, may be carried out.

F10 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F9 Words in Sch. 5 para. 9 substituted (30.3.2022 at 5.00 p.m.) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 7) Regulations 2022 (S.I. 2022/395), regs. 1(2), 39(a)

F10 Sch. 5 para. 9(2) omitted (1.3.2022) by virtue of The Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2022 (S.I. 2022/194), regs. 1(2), 14(d)

Commencement Information

I9 Sch. 5 para. 9 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

[F11 Humanitarian assistance activity U.K.

9A.   To enable anything to be done in connection with the performance of any humanitarian assistance activity.

Textual Amendments

F11 Sch. 5 paras. 9A-9T and related Pt. headings inserted (1.3.2022) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2022 (S.I. 2022/194), regs. 1(2), 14(e)

Medical goods or services U.K.

9B.— (1) To enable anything to be done in connection with the provision of medical goods or services for the benefit of the civilian population of a country.

(2) To enable the import, export or use of medical goods.

Textual Amendments

F11 Sch. 5 paras. 9A-9T and related Pt. headings inserted (1.3.2022) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2022 (S.I. 2022/194), regs. 1(2), 14(e)

Food U.K.

9C.   To enable anything to be done in connection with the production or distribution of food for the benefit of the civilian population of a country.

Textual Amendments

F11 Sch. 5 paras. 9A-9T and related Pt. headings inserted (1.3.2022) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2022 (S.I. 2022/194), regs. 1(2), 14(e)

Diplomatic missions etc. U.K.

9D.— (1) To enable anything to be done in order that the functions of a diplomatic mission or consular post in Russia or of an international organisation enjoying immunities in accordance with international law may be carried out.

(2) To enable anything to be done in order that the functions of a diplomatic mission or consular post of Russia in the United Kingdom may be carried out.

Textual Amendments

F11 Sch. 5 paras. 9A-9T and related Pt. headings inserted (1.3.2022) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2022 (S.I. 2022/194), regs. 1(2), 14(e)

[F12 PART 1ZA U.K. Divestment etc.

Textual Amendments

F12 Sch. 5 Pt. 1ZA inserted (15.12.2023) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 4) Regulations 2023 (S.I. 2023/1364), regs. 1(3), 22(22)

Interpretation of Part 1ZA U.K.

9DA.   In this Part—

“designated person”, “frozen account” and “relevant institution” have the respective meanings given in regulation 58(7);

“Government of Russia” has the same meaning as in regulation 6;

“non-UK country” means a country that is not the United Kingdom;

“non-UK credit or financial institution” has the same meaning as in regulation 17A;

“person concerned” means the Government of Russia or, as the case may be, a designated person;

“UK entity” means a person, other than an individual, incorporated or constituted under the law of any part of the United Kingdom.

Divestment U.K.

9DB.— (1) To enable anything to be done by a UK entity to enable that entity to undertake a relevant transfer.

(2) In sub-paragraph (1), a “relevant transfer” means a transfer of funds or economic resources located in Russia and owned, held or controlled by the UK entity, to a person concerned in order to enable that entity to divest itself, either wholly or partially, of those funds or economic resources.

(3) Where sub-paragraph (4) applies, to enable anything to be done by a UK entity in order to allow that entity to acquire from a person concerned an interest in that entity held by that person.

(4) This sub-paragraph applies where—

(a) the sole consideration for that acquisition is a transfer of funds from the UK entity to the person concerned;

(b) such funds are credited to—

(i) a frozen account held by a relevant institution; or

(ii) an account held by a non-UK credit or financial institution in a non-UK country; and

(c) where paragraph (b)(ii) applies, the law of that non-UK country—

(i) contains relevant and appropriate—

(aa) prohibitions corresponding to those in Part 3 of these Regulations; and

(bb) exceptions corresponding to those in Part 7 of these Regulations; and

(ii) where relevant or appropriate, allows for licences to be granted on grounds corresponding to those in this Schedule.

Enabling others to divest themselves of funds or economic resources U.K.

9DC.— (1) To enable anything to be done by a UK entity in order to enable another person (“B”) to undertake a relevant transfer.

(2) In sub-paragraph (1), a “relevant transfer” means a transfer of funds or economic resources located in Russia and owned, held or controlled by B, to a person concerned, in order to enable B to divest itself, either wholly or partially, of those funds or economic resources.

(3) Where sub-paragraph (4) applies, to enable anything to be done by a UK entity in order to enable B to acquire from a person concerned an interest in B held by the person concerned.

(4) This sub-paragraph applies where—

(a) the sole consideration for that acquisition is a transfer of funds from B to the person concerned;

(b) such funds are credited to—

(i) a frozen account held by a relevant institution; or

(ii) an account held by a non-UK credit or financial institution in a non-UK country; and

(c) where paragraph (b)(ii) applies, the law of that non-UK country—

(i) contains relevant and appropriate—

(aa) prohibitions corresponding to those in Part 3 of these Regulations; and

(bb) exceptions corresponding to those in Part 7 of these Regulations; and

(ii) where relevant or appropriate, allows for licences to be granted on grounds corresponding to those in this Schedule.]

PART 1A U.K. Loans and credit arrangements

Humanitarian assistance activity U.K.

9E.   To enable anything to be done in connection with the performance of any humanitarian assistance activity.

Medical goods or services U.K.

9F.— (1) To enable anything to be done in connection with the provision of medical goods or services for the benefit of the civilian population of a country.

(2) To enable the import, export or use of medical goods.

Food U.K.

9G.   To enable anything to be done in connection with the production or distribution of food for the benefit of the civilian population of a country.

Diplomatic missions etc. U.K.

9H.— (1) To enable anything to be done in order that the functions of a diplomatic mission or consular post in Russia, or of an international organisation enjoying immunities in accordance with international law may be carried out.

(2) To enable anything to be done in order that the functions of a diplomatic mission or consular post of Russia in the United Kingdom may be carried out.

Space U.K.

9I.   To enable anything to be done in order for a United Kingdom person to undertake spaceflight activity.

Extraordinary situation U.K.

9J.   To enable anything to be done to deal with an extraordinary situation.

PART 1B U.K. Correspondent banking relationships [F13 and processing payments]

Textual Amendments

F13 Words in Sch. 5 Pt. 1B heading substituted (15.12.2023) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 4) Regulations 2023 (S.I. 2023/1364), regs. 1(3), 23(3)

Interpretation of Part 1B U.K.

9K.   In this Part, “designated person” has the meaning given in regulation 17A.

Basic needs U.K.

9L.— (1) To enable the basic needs of a designated person, or a person owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person, to be met.

(2) In the case of a person other than an individual, in sub-paragraph (1) “basic needs” includes needs for—

(a) payment of insurance premiums;

(b) payment of reasonable fees for the provision of property management services;

(c) payment of reasonable fees for the provision of insolvency services;

(d) payment of remuneration, allowances or pensions of employees;

(e) payment of tax;

(f) rent or mortgage payments;

(g) utility payments.

Legal services U.K.

9M.   To enable the payment of—

(a) reasonable professional fees for the provision of legal services to the designated person or a person owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person, or

(b) reasonable expenses associated with the provision of legal services to the designated person (or a person owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person.

Financial regulation U.K.

9N.— (1) To enable anything to be done by, or on behalf of, a relevant financial authority for the purposes of the functions of that authority.

F14 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F14 Sch. 5 para. 9N(2) omitted (16.12.2022) by virtue of The Russia (Sanctions) (EU Exit) (Amendment) (No. 17) Regulations 2022 (S.I. 2022/1331), regs. 1(2)(b), 20(4)(b)

Extraordinary situation U.K.

9O.   To enable anything to be done to deal with an extraordinary situation.

PART 1C U.K. [F15 Processing payments]

Textual Amendments

F15 Sch. 5 Pt. 1C heading substituted (15.12.2023) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 4) Regulations 2023 (S.I. 2023/1364), regs. 1(3), 22(23)(a)

Humanitarian assistance activity U.K.

9P.   To enable anything to be done in connection with the performance of any humanitarian assistance activity.

Medical goods or services U.K.

9Q.— (1) To enable anything to be done in connection with the provision of medical goods or services for the benefit of the civilian population of a country.

(2) To enable the import, export or use of medical goods.

Food U.K.

9R.   To enable anything to be done in connection with the production or distribution of food for the benefit of the civilian population of a country.

Diplomatic missions etc. U.K.

9S.— (1) To enable anything to be done in order that the functions of a diplomatic mission or consular post in Russia, or of an international organisation enjoying immunities in accordance with international law may be carried out.

(2) To enable anything to be done in order that the functions of a diplomatic mission or consular post of Russia in the United Kingdom may be carried out.

Space U.K.

9T.   To enable anything to be done in order for a United Kingdom person to undertake spaceflight activity.]

[F16 Other licensing purposes U.K.

9TA.   To enable anything to be done in connection with a licence which the Treasury has decided to issue for another purpose specified in this Schedule.]

Textual Amendments

F16 Sch. 5 Pt. 1C para. 9TA inserted (15.12.2023) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 4) Regulations 2023 (S.I. 2023/1364), regs. 1(3), 22(23)(b)

[F17 PART 1D U.K. Foreign exchange reserve and asset management services

Textual Amendments

F17 Sch. 5 Pt. 1D inserted (1.3.2022 at 5.00 p.m.) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 5) Regulations 2022 (S.I. 2022/205), regs. 1(2), 7

Humanitarian assistance activity U.K.

9U.   To enable anything to be done in connection with the performance of any humanitarian assistance activity.

Financial regulation U.K.

9V.— (1) To enable anything to be done by, or on behalf of, a relevant financial authority for the purposes of the functions of that authority.

F18 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F18 Sch. 5 para. 9V(2) omitted (16.12.2022) by virtue of The Russia (Sanctions) (EU Exit) (Amendment) (No. 17) Regulations 2022 (S.I. 2022/1331), regs. 1(2)(b), 20(4)(c)

Financial stability U.K.

9W.   To enable anything to be done by a person, following consultation by that person (or a person acting on their behalf) with the Bank of England, that is necessary or expedient in order to protect or enhance the stability of the financial system of the United Kingdom.

Safety and soundness of a firm U.K.

9X.   To enable anything to be done by a person, following consultation by that person (or a person acting on their behalf) with the relevant supervising authority or authorities, that is necessary or expedient in order to promote the safety and soundness of a firm which is supervised by the Bank of England, the Prudential Regulation Authority or the Financial Conduct Authority.

Extraordinary situation U.K.

9Y.   To enable anything to be done to deal with an extraordinary situation.]

PART 2 U.K. Investment in [F19 non-government controlled Ukrainian territory]

Textual Amendments

F19 Words in Sch. 5 Pt. 2 heading substituted (30.3.2022 at 5.00 p.m.) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 7) Regulations 2022 (S.I. 2022/395), regs. 1(2), 39(b)(i)

Consular posts U.K.

10.—(1) To enable anything to be done in order that the functions of a consular post in [F20 non-government controlled Ukrainian territory], or of an international organisation enjoying immunities in accordance with international law, may be carried out.

F21 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F20 Words in Sch. 5 para. 10 substituted (30.3.2022 at 5.00 p.m.) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 7) Regulations 2022 (S.I. 2022/395), regs. 1(2), 39(b)(ii)(aa)

F21 Sch. 5 para. 10(2) omitted (1.3.2022) by virtue of The Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2022 (S.I. 2022/194), regs. 1(2), 14(f)

Commencement Information

I10 Sch. 5 para. 10 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Medical and educational purposes U.K.

11.  To enable the carrying out of projects exclusively in support of—

(a) hospitals, or other public health institutions providing medical services, or

(b) civilian education establishments, located in [F22 non-government controlled Ukrainian territory].

Textual Amendments

F22 Words in Sch. 5 para. 11 substituted (30.3.2022 at 5.00 p.m.) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 7) Regulations 2022 (S.I. 2022/395), regs. 1(2), 39(b)(ii)(bb)

Commencement Information

I11 Sch. 5 para. 11 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

12.  To enable anything to be done in relation to the provision or maintenance of appliances or equipment for medical use in [F23 non-government controlled Ukrainian territory]. U.K.

Textual Amendments

F23 Words in Sch. 5 para. 12 substituted (30.3.2022 at 5.00 p.m.) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 7) Regulations 2022 (S.I. 2022/395), regs. 1(2), 39(b)(ii)(cc)

Commencement Information

I12 Sch. 5 para. 12 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Health and the environment U.K.

13.  To enable anything to be done for the urgent prevention or mitigation of an event likely to have a serious and significant impact on human health or safety, infrastructure or the environment.

Commencement Information

I13 Sch. 5 para. 13 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

[F24 PART 3 U.K. Investments in relation to Russia

Textual Amendments

F24 Sch. 5 Pt. 3 inserted (19.7.2022) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 12) Regulations 2022 (S.I. 2022/801), regs. 1(2), 10

Extraordinary situation U.K.

14.   To enable anything to be done to deal with an extraordinary situation.

Humanitarian assistance activity U.K.

15.   To enable anything to be done in connection with the performance of any humanitarian assistance activity.

Medical goods or services U.K.

16.— (1) To enable anything to be done in connection with the provision of medical goods or services for the benefit of the civilian population of a country.

(2) To enable the import, export or use of medical goods.

Food U.K.

17.   To enable anything to be done in connection with the production or distribution of food for the benefit of the civilian population of a country.

Diplomatic missions etc. U.K.

18.— (1) To enable anything to be done in order that the functions of a diplomatic mission or consular post in Russia, or of an international organisation enjoying immunities in accordance with international law, may be carried out.

(2) To enable anything to be done in order that the functions of a diplomatic mission or consular post of Russia in the United Kingdom may be carried out.

Safety and soundness of a firm U.K.

19.   To enable anything to be done by a person, following consultation by that person (or a person acting on their behalf) with the relevant supervising authority or authorities, that is necessary or expedient in order to promote the safety and soundness of a firm which is supervised by the Bank of England, the Prudential Regulation Authority or the Financial Conduct Authority.

Space U.K.

20.   To enable anything to be done for a United Kingdom person to undertake spaceflight activity.]

[F25 PART 3A U.K. Trust services

Textual Amendments

F25 Sch. 5 Pt. 3A inserted (16.12.2022) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 17) Regulations 2022 (S.I. 2022/1331), reg. 1(2)(b), Sch. 3

Extraordinary situation U.K.

20A.   To enable anything to be done to deal with an extraordinary situation.

Humanitarian assistance activity U.K.

20B.   To enable anything to be done in connection with the performance of any humanitarian assistance activity.

Medical goods or services U.K.

20C.— (1) To enable anything to be done in connection with the provision of medical goods or services for the benefit of the civilian population of a country.

(2) To enable the import, export or use of medical goods.

Food U.K.

20D.   To enable anything to be done in connection with the production or distribution of food for the benefit of the civilian population of a country.

Diplomatic missions etc. U.K.

20E.— (1) To enable anything to be done in order that the functions of a diplomatic mission or consular post in Russia, or of an international organisation enjoying immunities in accordance with international law, may be carried out.

(2) To enable anything to be done in order that the functions of a diplomatic mission or consular post of Russia in the United Kingdom may be carried out.

Safety and soundness of a firm U.K.

20F.   To enable anything to be done by a person, following consultation by that person (or a person acting on their behalf) with the relevant supervising authority or authorities, that is necessary or expedient in order to promote the safety and soundness of a firm which is supervised by the Bank of England, the Prudential Regulation Authority or the Financial Conduct Authority.

Financial regulation U.K.

20G.   To enable anything to be done by, or on behalf of, a relevant financial authority for the purposes of the functions of that authority.

Financial stability U.K.

20H.   To enable anything to be done by a person, following consultation by that person (or a person acting on their behalf) with the Bank of England, that is necessary or expedient in order to protect or enhance the stability of the financial system of the United Kingdom.

Unauthorised unit trust schemes U.K.

20I.— (1) To enable the provision of trust services by the operator or trustee of an unauthorised unit trust scheme in relation to that scheme, provided that the condition in sub-paragraph (2) is met.

(2) The condition in this sub-paragraph is that the trust services are not provided primarily to or for the benefit of a designated person or a person connected with Russia.

(3) Terms used in this paragraph are to be construed in accordance with regulation 60ZZB.]

[F26 PART 4 U.K. Maritime transportation of certain oil and oil products

Textual Amendments

F26 Sch. 5 Pt. 4 inserted (5.12.2022) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 16) Regulations 2022 (S.I. 2022/1122), regs. 1(2), 17

Extraordinary situation U.K.

21.   To enable anything to be done to deal with an extraordinary situation.]