The Russia (Sanctions) (EU Exit) (Amendment) (No. 5) Regulations 2022

UK Statutory Instrument 2022 No. 205 — creates 1 criminal offence.

1offences created

0recorded in force

0revoked

Made: 1 March 2022
In force from: 1 March 2022
Extent: Not stated
Subject: International sanctions, export control and trade restrictions
Made under: Sanctions and Anti-Money Laundering Act 2018

Explanatory note

(This note is not part of the Regulations) — published with the instrument by the department that made it. © Crown copyright, reused under the Open Government Licence v3.0.

These Regulations are made under the Sanctions and Anti-Money Laundering Act 2018 (c. 13) to amend the Russia (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/855) (“the 2019 Regulations”). The Regulations add new financial sanctions to Part 3 (Finance) of the 2019 Regulations. The amendments insert a restriction on the provision of financial services for the purposes of foreign exchange reserve and asset management involving the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, the Ministry of Finance of the Russian Federation, or persons owned or controlled by, or acting on behalf of, or at the direction of, the same. The Regulations insert licensing grounds relating to these new provisions. No impact assessment has been prepared for these Regulations. An impact assessment was, however, produced for the primary legislation and can be found at https://www.gov.uk/government/publications/sanctions-and-anti-money-laundering-bill-impact-assessment.

Offences created by this instrument

Provision of financial services relating to foreign exchange reserve and asset management regulation 18A(4) · Status not determined · Strict liability

What Parliament said about it

Contributions, debates and written statements mentioning this instrument by name. Parliamentary material is reused under the Open Parliament Licence v3.0.

Russia (Sanctions) (EU Exit) (Amendment) (No. 4) Regulations 2022 Russia (Sanctions) (EU Exit) (Amendment) (No. 5) Regulations 2022 Russia (Sanctions) (EU Exit) (Amendment) (No. 6) Regulations 2022 Commons · General Committees · 21 March 2022 · James Cleverly
Again, I do not want to run ahead of what has been publicly committed to, but I take the point the hon. Gentleman has made about supporting businesses and, indeed, countries that are doing the right thing. Those countries will perhaps feel a much greater financial impact than we will in the UK. We will ensure that we stand in solidarity with not just the Ukrainian people at this difficult time, but with the companies, individuals and countries that have chosen to do the right thing, knowing that it will bring them a degree of financial and economic pain. I assure the hon. Gentleman that we…
Russia (Sanctions) (EU Exit) (Amendment) (No. 4) Regulations 2022 Russia (Sanctions) (EU Exit) (Amendment) (No. 5) Regulations 2022 Russia (Sanctions) (EU Exit) (Amendment) (No. 6) Regulations 2022 Commons · General Committees · 21 March 2022
Russia (Sanctions) (EU Exit) (Amendment) (No. 4) Regulations Lords · Grand Committee · 22 March 2022 · Lord Sharpe of Epsom (Con)
My Lords, I shall speak to the following three statutory instruments, copies of which were laid before this House on 1 and 8 March: first, the Russia (Sanctions) (EU Exit) (Amendment) (No. 4) Regulations 2022; secondly, the Russia (Sanctions) (EU Exit) (Amendment) (No. 5) Regulations 2022; and. thirdly, the Russia (Sanctions) (EU Exit) (Amendment) (No. 6) Regulations 2022. The instruments before us were laid under the powers provided by the Sanctions and Anti-Money Laundering Act 2018, also known as the sanctions Act, and came into effect under the “made affirmative” procedure. As part of…
Business without Debate Commons · Commons Chamber · 22 March 2022 · Madam Deputy Speaker (Dame Rosie Winterton)
With the leave of the House, we will take motions 4, 5 and 6 together. Motion made, and Question put forthwith (Standing Order No. 118(6)), Sanctions That the Russia (Sanctions) (EU Exit) (Amendment) (No. 4) Regulations 2022 (SI, 2022, No. 203), dated 1 March 2022, a copy of which was laid before this House on 1 March, be approved. That the Russia (Sanctions) (EU Exit) (Amendment) (No. 5) Regulations 2022 (SI, 2022, No. 205), dated 1 March 2022, a copy of which was laid before this House on 1 March, be approved. That the Russia (Sanctions) (EU Exit) (Amendment) (No. 6) Regulations 2022 (SI,…

How Parliament handled it

Both Houses had to approve this instrument before it could take effect, and did so.

Procedure: Made affirmative — both Houses had to approve it
Could either House amend it?: No. A statutory instrument is put to each House as a whole thing, to be approved or not. Neither House can change a word of it.

Procedural history

Instrument created 1 March 2022
Instrument made (signed into law) 1 March 2022
Instrument comes into force as law 1 March 2022
Laid before the House of Commons 1 March 2022 · Commons
Laid before the House of Lords 1 March 2022 · Lords
Motion to approve the instrument tabled by the Government 1 March 2022 · Commons
Motion to approve the instrument tabled by the Government 1 March 2022 · Lords
Considered by the Secondary Legislation Scrutiny Committee (SLSC) 9 March 2022 · Lords
Information paragraph provided by the Secondary Legislation Scrutiny Committee (SLSC) 9 March 2022 · Lords
Considered by the Joint Committee on Statutory Instruments (JCSI) 16 March 2022 · Commons, Lords
Not drawn to the special attention of the Houses by the Joint Committee on Statutory Instruments (JCSI) 16 March 2022 · Commons, Lords
Delegated Legislation Committee (DLC) debate 21 March 2022 · Commons
Question put on motion to consider the instrument 21 March 2022 · Commons
Motion to consider the instrument approved 21 March 2022 · Commons
Grand Committee debate 22 March 2022 · Lords
Question put on motion to consider the instrument 22 March 2022 · Lords
Motion to consider the instrument approved 22 March 2022 · Lords
Question on motion to approve the instrument put 22 March 2022 · Commons
Instrument approved 22 March 2022 · Commons
Question on motion to approve the instrument put 24 March 2022 · Lords
Instrument approved 24 March 2022 · Lords
Instrument remains law 24 March 2022
Procedure concluded in the House of Commons and the House of Lords 24 March 2022 · Commons, Lords
Approval period ends 28 March 2022

From Parliament's Statutory Instruments service. Parliamentary material is reused under the Open Parliament Licence v3.0.

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