(1) Where -

(a) a person was named in Annex I of the EU Turkey Regulation immediately before the relevant date, and

(b) the person is a designated person immediately before the relevant date,

any reference in a provision mentioned in paragraph (2) to the date on which a person became a designated person is a reference to the date on which the person was named in Annex I of the EU Turkey Regulation.

(2) The provisions referred to in paragraph (1) are -

(a) regulation 18(5) (finance: exceptions from prohibitions), and

(b) paragraphs 6(b)(i) and 10(a) of Schedule 2 (Treasury licences: purposes).

(3) In this regulation -

"designated person" has the same meaning as it has in Part 3 (Finance);

"the EU Turkey Regulation" has the meaning given in regulation 39(7);

"the relevant date" means -