This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
(This note is not part of the Regulations)
These Regulations are made under the Sanctions and Anti-Money Laundering Act 2018 (c.13) (“the Sanctions Act”).
The Regulations make corrections and amendments to a number of sanctions regulations which have been made under section 1 of the Sanctions Act, namely the Iran (Sanctions) (Human Rights) (EU Exit) Regulations 2019 (S.I. 2019/134), the Venezuela (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/135), the Republic of Guinea-Bissau (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/554), the Republic of Belarus (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/600), the Zimbabwe (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/604), the Chemical Weapons (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/618), the Syria (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/792), the Russia (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/855), the Burundi (Sanctions) (EU Exit) Regulations 2021 (S.I. 2021/1404), the Guinea (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/1145), the Cyber (Sanctions) (EU Exit) Regulations 2020 (S.I. 2020/597), the Bosnia and Herzegovina (Sanctions) (EU Exit) Regulations 2020 (S.I. 2020/608), the Nicaragua (Sanctions) (EU Exit) Regulations 2020 (S.I. 2020/610), the Global Human Rights (Sanctions) Regulations 2020 (S.I. 2020/680), the Unauthorised Drilling Activities in the Eastern Mediterranean (Sanctions) (EU Exit) Regulations 2020 (S.I. 2020/1474), the Global Anti-Corruption Sanctions Regulations 2021 (S.I. 2021/488), and the Myanmar (Sanctions) Regulations 2021 (S.I. 2021/496).
The Regulations insert a new information sharing power in each of the sanctions Regulations mentioned above to authorise other government departments, agencies and relevant bodies to share information to enable or assist the Treasury to discharge its functions in connection with sanctions.
Sanctions Regulations impose various obligations on “relevant firms” to report to the Treasury. The Regulations widen the definition of “relevant firm” to capture cryptoasset exchange providers and custodian wallet providers in each of the sanctions Regulations mentioned above.
Regulations 2(5), 3(5), 8(5) and 18(5) make amendments to the Iran (Sanctions) (Human Rights) (EU Exit) Regulations 2019 (S.I. 2019/134), the Venezuela (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/135), the Syria (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/792) and the Myanmar (Sanctions) Regulations 2021 (S.I. 2021/496), respectively, to correct the definition of ‘GPRS’ and to insert definitions of ‘WCDMA’ and ‘IDEN’.
Regulation 5(5) makes an amendment to the Republic of Belarus (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/600) to insert a definition of ‘WCDMA’.
Regulation 15(5) makes a correction to a cross-reference in Regulation 34(4) of the Global Human Rights Sanctions Regulations 2020 (S.I. 2020/680) in respect of jurisdiction to try offences.
A full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sector is foreseen. An impact assessment was, however, produced for the Sanctions Act and can be found at:
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