Schedule 5, Part 1ZA, paragraph 9DC

To enable anything to be done by a UK entity in order to enable another person (“B”) to undertake a relevant transfer. In sub-paragraph (1), a “relevant transfer” means a transfer of funds or economic resources located in Russia and owned, held or controlled by B, to a person concerned, in order to enable B to divest itself, either wholly or partially, of those funds or economic resources. Where sub-paragraph (4) applies, to enable anything to be done by a UK entity in order to enable B to acquire from a person concerned an interest in B held by the person concerned. This sub-paragraph applies where— the sole consideration for that acquisition is a transfer of funds from B to the person concerned; such funds are credited to— a frozen account held by a relevant institution; or an account held by a non-UK credit or financial institution in a non-UK country; and where paragraph (b)(ii) applies, the law of that non-UK country— contains relevant and appropriate— prohibitions corresponding to those in Part 3 of these Regulations; and exceptions corresponding to those in Part 7 of these Regulations; and where relevant or appropriate, allows for licences to be granted on grounds corresponding to those in this Schedule.

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Source: legislation.gov.uk · retrieved 2026-08-30