Section 46Z16A

In this Chapter— “relevant day” means the day on which this Chapter comes into force; “relevant processed gold” means gold which— has been processed in a third country; and incorporates gold that, on or after 21st July 2022— originated in Russia, and has been exported from Russia; “third country” means a country that is not the United Kingdom, the Isle of Man or Russia. For the purposes of this Chapter, a thing has been exported from Russia when— it has completed the applicable export formalities; and where the thing was transported by— land, it has left Russian territory; sea, the ship on which it was transported has departed a port in Russia for a destination outside of Russia; air, the aircraft on which it was transported has departed an airport in Russia for a destination outside of Russia. For the purposes of this Chapter, gold is processed where it is— altered; transformed in any way; or subjected to any other type of operation or process.

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