PART 6

Exceptions and licences

Exception for authorised conduct in a relevant country
42
1
Where a person's conduct in a relevant country would, in the absence of this regulation, contravene a prohibition in any of regulations 11 to 15 (asset-freeze etc.) or Chapters 2 to 5 of Part 5 (Trade) (“the relevant prohibition”), the relevant prohibition is not contravened if the conduct is authorised by a licence or other authorisation which is issued—
a
under the law of the relevant country, and
b
for the purpose of disapplying a prohibition in that jurisdiction which corresponds to the relevant prohibition.
2
In this regulation, “relevant country” means—
a
any of the Channel Islands,
b
the Isle of Man, or
c
any British overseas territory.
Reg. 42 in force at 29.4.2021 at 5.00 p.m., see reg. 1(3)