Section 46Z39

A person must not directly or indirectly acquire, or purport to acquire, a detained transport asset from, or for the benefit of— a designated person, or a person connected with Russia. The direct or indirect acquisition or purported acquisition of a detained transport asset from, or for the benefit of— is void and ineffective for all purposes, including as a matter of contract and property law, regardless of the applicable law of any agreement to acquire the detained transport asset. a designated person, or a person connected with Russia, Paragraphs (1) and (2) are 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 an offence of contravening paragraph (1)(a) to show that the person did not know and had no reasonable cause to suspect that the person was a designated person; it is a defence for a person charged with an offence of contravening paragraph (1)(b) to show that the person did not know and had no reasonable cause to suspect that the person was connected with Russia. In this regulation— “designated person” means a person designated under regulation 5 (power to designate persons) for the purposes of this regulation; “detained transport asset” means— a ship subject to a direction under regulation 57D(1), or an aircraft subject to a direction under regulation 57J(6)(b).

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