Russia Sanctions Regulations 2022

When dealing with assets and services is permitted

12 Sanctions on assets and services do not apply in certain circumstances

(1)

The prohibitions and restrictions imposed by regulations 10, 10A, and 11 are subject to this regulation.

(2)

A New Zealand person may hold and use a bank account (or similar) with a sanctioned person if they held the account immediately before the relevant date.

(3)

A New Zealand person may receive money that is a restricted asset if, immediately before the relevant date, the person from whom it is received had a legal obligation to pay (whether at that time or in the future) the money to the New Zealand person.

(4)

A New Zealand person may hold (but not otherwise deal with) a restricted asset if they held the asset immediately before the relevant date.

(5)

A New Zealand person may use premises that are a restricted asset as the person’s principal place of residence (including making payments in relation to that use) if the premises were the person’s principal place of residence immediately before the relevant date.

(6)

A New Zealand person may deal with an estate or interest in land that is a restricted asset (including paying or receiving money in relation to it) if, immediately before the relevant date, the New Zealand person had a legal obligation to do so.

(7)

A New Zealand person may deal with a restricted asset or a restricted service,—

(a)

if the sanctioned person is an individual, for the purpose of providing the sanctioned person or their dependants with an asset or service that is reasonably necessary for personal or household purposes (such as food and clothing); or

(b)

if the New Zealand person is a lawyer, for the purpose of providing legal services in connection with the Act or these regulations; or

(c)

for the purpose of preserving, or maintaining the value of, a restricted asset; or

(d)

for the purpose of, or in connection with, the enforcement or intended enforcement of the Act; or

(e)

for the purpose of facilitating the normal performance of the functions of—

(i)

a diplomatic mission (within the meaning of the Vienna Convention on Diplomatic Relations signed in 1961); or

(ii)

a consular post (within the meaning of the Vienna Convention on Consular Relations signed in 1963); or

(f)

for the purpose of providing the New Zealand person or their dependants, while in a specified country, with an asset or a service that is reasonably necessary for personal or household purposes (such as utility services).

(8)

In this regulation,—

lawyer and legal services have the same meanings as in section 6 of the Lawyers and Conveyancers Act 2006

relevant date means,—

(a)

in relation to a restricted asset, the date on which it became a restricted asset; and

(b)

in relation to a sanctioned person, the date on which they were, or the class of which they are a member was, listed in Schedule 2

restricted asset means an asset referred to in regulation 10(2) or (3) or 10A(1)(b)

restricted service means a service referred to in regulation 11(2)

sanctioned person has the same meaning as in regulation 10, 10A, or 11 (as the case requires).

Guidance note

For humanitarian organisations, see regulation 18.

Regulation 12(1): amended, on 20 April 2022, by regulation 12(1) of the Russia Sanctions Amendment Regulations (No 2) 2022 (SL 2022/114).

Regulation 12(7): amended, on 20 April 2022, by regulation 12(2) of the Russia Sanctions Amendment Regulations (No 2) 2022 (SL 2022/114).

Regulation 12(7)(a): amended, on 8 July 2022, by regulation 5(1) of the Russia Sanctions Amendment Regulations (No 7) 2022 (SL 2022/210).

Regulation 12(7)(e): inserted, on 5 April 2022, by regulation 4 of the Russia Sanctions Amendment Regulations 2022 (SL 2022/90).

Regulation 12(7)(f): inserted, on 8 July 2022, by regulation 5(2) of the Russia Sanctions Amendment Regulations (No 7) 2022 (SL 2022/210).

Regulation 12(8) relevant date paragraph (b): amended, on 20 April 2022, by regulation 12(3) of the Russia Sanctions Amendment Regulations (No 2) 2022 (SL 2022/114).

Regulation 12(8) restricted asset: replaced, on 20 April 2022, by regulation 12(4) of the Russia Sanctions Amendment Regulations (No 2) 2022 (SL 2022/114).

Regulation 12(8) restricted service: inserted, on 20 April 2022, by regulation 12(5) of the Russia Sanctions Amendment Regulations (No 2) 2022 (SL 2022/114).

Regulation 12(8) sanctioned person: amended, on 20 April 2022, by regulation 12(6) of the Russia Sanctions Amendment Regulations (No 2) 2022 (SL 2022/114).

Regulation 12 guidance note: inserted, on 20 April 2022, by regulation 12(7) of the Russia Sanctions Amendment Regulations (No 2) 2022 (SL 2022/114).