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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 31 December 2020 - onwards
Version 2 of 2

Regulation 56 Exceptions relating to insurance and reinsurance services

(1) The prohibition in regulation 20 (insurance and reinsurance services) is not contravened by -

(a) the provision of compulsory or third party insurance to an individual who is a national of Syria or to a body incorporated or constituted under the law of Syria which is located in the United Kingdom;

(b) the provision of insurance for a diplomatic mission or consular post of Syria in the United Kingdom.

(2) The prohibition in regulation 20, insofar as it prohibits the provision of insurance or reinsurance services to persons acting on behalf or at the direction of the Syrian regime, is not contravened by -

(a) the provision of insurance or reinsurance services to an individual acting on behalf or at the direction of the Syrian regime, provided that the insurance or reinsurance is for that individual’s personal use;

(b) the provision of insurance or reinsurance services to a person who is the owner of a ship or aircraft which is chartered, or a vehicle which is hired, by the Syrian regime, provided that the person is not a designated person.

(3) In this regulation, "designated person" has the same meaning as it has in Chapter 1 of Part 3 (Finance).