(This note is not part of the Regulations)
These Regulations are made in exercise of the powers conferred by section 8(1) of, and paragraph 21 of Schedule 7 to, the European Union (Withdrawal) Act 2018 (c. 16) (“the 2018 Act”) to address failures of retained EU law to operate effectively and other deficiencies arising from the withdrawal of the United Kingdom from the European Union. In particular, these Regulations address deficiencies under paragraphs (a), (c), (d) and (g) of section 8(2) of the 2018 Act.
These Regulations amend article 4(4) of the Extraterritorial US Legislation (Sanctions against Cuba, Iran and Libya) (Protection of Trading Interests) Order 1996 (S.I. 1996/3171, as amended by S.I. 2018/1357). Article 4(4) referred to a version of section 30(3) of the Small Business, Enterprise and Employment Act 2015 (c. 26) that has been superseded due to changes made to that section by paragraph 36 of Schedule 8 to the 2018 Act.
An impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary, or public sector is foreseen.