PART 9 Exceptions and licences

86A Exception for authorised conduct in a relevant country
1 Where a person's conduct in a relevant country would, in the absence of this regulation, contravene a relevant prohibition or relevant requirement, the relevant prohibition or relevant requirement is not contravened if the conduct is authorised by a licence, direction or other authorisation which is issued—
(a) under the law of the relevant country, and
(b) for the purpose of—
(i) disapplying a prohibition in that jurisdiction which corresponds to the relevant prohibition, or
(ii) providing that a requirement in that jurisdiction which corresponds to the relevant requirement has effect subject to any exceptions specified in the licence, direction or other authorisation.
2 In this regulation—
“the financial services provisions” means regulations 18, 20 to 22, and 24 to 30, excluding regulation 26(7);
“relevant country” means—
(a) any of the Channel Islands,
(b) the Isle of Man, or
(c) any British overseas territory;
“relevant prohibition” means a prohibition in—
(a) any of regulations 13 to 17 (asset-freeze etc.),
(b) the financial services provisions,
(c) Chapters 1, 2 and 3 of Part 6 (Trade),
(d) regulation 65(1) (movement of aircraft),
(e) regulation 69 (ownership etc. of DPRK ships),
(f) regulation 70 (dealing with UN-designated ships subject to asset-freeze),
(g) regulation 74 (DPRK ships: transfers of goods), or
(h) regulation 76 (registration etc. of ships in the DPRK);
“relevant requirement” means a requirement in—
(a) regulation 19 (severance of existing financial relationships),
(b) regulation 23 (closure of representative offices), or
(c) regulation 26(7) (closure of joint venture or co-operative entities).
3 Nothing in this regulation affects the application of a prohibition or requirement in a case where it would be incompatible with a UN obligation for the prohibition or requirement not to apply.
Reg. 86A inserted (31.12.2020 immediately after IP completion day) by The Sanctions (EU Exit) (Miscellaneous Amendments) (No.3) Regulations 2020 (S.I. 2020/950), regs. 1(2), 2(3); S.I. 2020/1514, reg. 17