Section 46Z12

A person must not directly or indirectly acquire gold which on or after the relevant day— with the intention of those goods entering the United Kingdom. originated in Russia; and is located in Russia, Paragraph (1) is subject to Part 7 (Exceptions and licences). A person who contravenes a prohibition in paragraph (1) commits an offence, but— it is a defence for a person charged with the offence of contravening paragraph (1)(a) to show that the person did not know and had no reasonable cause to suspect that the gold originated in Russia; it is a defence for a person charged with the offence of contravening paragraph (1)(b) to show that the person did not know and had no reasonable cause to suspect that the gold was located in Russia.

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