Search Legislation

Advanced Search

The Russia (Sanctions) (EU Exit) (Amendment) (No. 17) Regulations 2022

Help about what version

What Version

  • Latest available (Revised)
  • Original (As made)

Status:

This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

Amendment of regulation 60ZZA (exceptions relating to investments in relation to Russia)

This section has no associated Explanatory Memorandum

12.  In regulation 60ZZA—

(a)in paragraph (1), for “contract concluded before the coming into force of the Amendment No. 12 Regulations,” substitute—

“contract—

(a)concluded before 16th December 2022, in the case of a relevant activity, or

(b)concluded before 19th July 2022, in any other case,”;

(b)in paragraph (3)—

(i)after the definition of “dealing with”, insert—

““person connected with Russia” is to be construed in accordance with regulation 19A(2);

“relevant activity” means directly or indirectly acquiring any ownership interest in or control over a person, other than an individual, which is not a person connected with Russia, for the purpose of making funds or economic resources available—

(a)

directly or indirectly to a person connected with Russia, or

(b)

for the benefit of a person connected with Russia;”;

(ii)in the definition of “relevant security issued by a person connected with Russia”, in paragraph (f), for “the coming into force of the Amendment (No. 12) Regulations” substitute “19th July 2022”;

(iii)for the definition of “relevant security issued by a relevant entity” substitute—

““relevant security issued by a relevant entity” means a security issued by a relevant entity for the purpose of an activity not prohibited by regulation 18B which—

(a)

is negotiable on the capital market, and

(b)

is of any of the following kinds but excluding instruments of payment—

(i)

shares in companies and other securities equivalent to shares in companies, partnerships or other entities, and depositary receipts in respect of shares;

(ii)

bonds or other forms of securitised debt, including depositary receipts in respect of such securities;

(iii)

any other securities giving the right to purchase or sell any security of a kind mentioned in sub-paragraph (i) or (ii);”;

(iv)omit the definition of “the Amendment (No. 12) Regulations”.

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Memorandum

Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

Impact Assessments

Impact Assessments generally accompany all UK Government interventions of a regulatory nature that affect the private sector, civil society organisations and public services. They apply regardless of whether the regulation originates from a domestic or international source and can accompany primary (Acts etc) and secondary legislation (SIs). An Impact Assessment allows those with an interest in the policy area to understand:

  • Why the government is proposing to intervene;
  • The main options the government is considering, and which one is preferred;
  • How and to what extent new policies may impact on them; and,
  • The estimated costs and benefits of proposed measures.
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as made version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources