Statutory Instruments
PROTECTION OF TRADING INTERESTS
Made
14th October 1992
Laid before Parliament
15th October 1992
Coming into force
14th October 1992
Whereas it appears to the Secretary of State that the measures to which this Order relates have been taken by or under the law of the United States of America (“the United States”) for regulating or controlling international trade and that those measures, in so far as they apply to things done or to be done outside the territorial jurisdiction of the United States by persons carrying on business in the United Kingdom, are damaging or threaten to damage the trading interests of the United Kingdom;
Now therefore the Secretary of State, in exercise of his powers under section 1(1) of the Protection of Trading Interests Act 1980(1) (“the 1980 Act”) and of all other powers enabling him in that behalf, hereby makes the following Order:
1. This Order may be cited as the Protection of Trading Interests (US Cuban Assets Control Regulations) Order 1992 and shall come into force at 11.40 am on 14th October 1992.
2. The Secretary of State hereby directs that section 1 of the 1980 Act shall apply to the measures taken under the law of the United States referred to in the following Article.
3. The measures to which this Order applies are those provisions of part 515 (entitled Cuban Assets Control Regulations) of title 31 of the Code of Federal Regulations(2) which affect trading activities carried on in the United Kingdom or the import of goods to or the export of goods from the United Kingdom.
4. In this Order “trading activities” includes any activity carried on in the course of a business of any description.
R. Needham
Minister for Trade
Department of Trade and Industry
14th October 1992
(This note is not part of the Order)
This Order applies section 1 of the Protection of Trading Interests Act 1980 to Part 515 (US Cuban Assets Control Regulations) of title 31 of the United States Code of Federal Regulations in so far as that part affects trading activities carried on in the United Kingdom or the import of goods to or the export of goods from the United Kingdom. It has been made following the passing by the United States Congress on October 5th 1992 of section 1706(a)(1) of the National Defense Authorization Act for the Fiscal Year 1993 (in the part entitled “Cuban Democracy Act of 1992”) which would prohibit the granting of licences under the US Cuban Assets Control Regulations for certain transactions between US owned or controlled firms in the United Kingdom and Cuba.
Where section 1 of the 1980 Act is applied the Secretary of State may require persons in the United Kingdom who carry on business there (a) to notify him of any requirements or prohibitions imposed or threatened to be imposed on them pursuant to the measures to which section 1 has been applied, and (b) not to comply with any such requirement or prohibition — (sections 1(2) and (3) of the 1980 Act).
Copies of relevant provisions of the US Cuban Assets Control Regulations may be inspected on application at the Department of Trade and Industry.
31 C.F.R. pt 515. Section 1706(a)(1) of the National Defense Authorization Act for the Fiscal Year 1993 (HR5006) (contained in the part entitled “Cuban Democracy Act of 1992”) which was passed by the United States Congress on October 5th 1992 would prevent the granting of certain licences under the Cuban Assets Control Regulations.