The Somalia (Sanctions) (EU Exit) Regulations 2020

Treasury licencesU.K.

47.—(1) The prohibitions in regulations 12 to 16 (asset-freeze etc.) do not apply to anything done under the authority of a licence issued by the Treasury under this paragraph.

(2) The Treasury may issue a licence which authorises acts in relation to a non-UN designated person only where the Treasury consider that it is appropriate to issue the licence for a purpose set out in Schedule 3.

(3) The Treasury may issue a licence which authorises acts in relation to a UN designated person only where the Treasury consider that it is appropriate to issue the licence for a purpose set out in Part 2 of Schedule 3.

(4) In this regulation “UN designated person” means—

(a)a person who is a designated person for the purposes of regulations 12 to 16 by reason of regulation 10(1) (designation of persons named by or under UN Security Council resolutions), or

(b)a person who is designated under regulation 5(1)(a) (power to designate persons) for the purposes of regulations 12 to 16 and whose designation is (in the opinion of the Secretary of State) required by a provision mentioned in regulation 4(3) (purposes).