152Implementation of UN financial sanctions Resolutions: temporary regulations
(1)Where a UN financial sanctions Resolution is adopted, the Treasury may by regulations made by statutory instrument make such provision as it considers appropriate for the implementation of the Resolution.
(2)Regulations under this section must provide for the regulations to cease to have effect at whichever of the following times first occurs—
(a)the time when an EU financial sanctions Regulation made for the purpose of implementing the UN financial sanctions Resolution enters into force;
(b)the end of a day specified in the regulations, which may not be a day that falls more than 30 days after the day on which the UN financial sanctions Resolution is adopted.
(3)At any time before the end of the day specified in the regulations under subsection (2)(b), the Treasury may amend the regulations (by making further regulations) so as to substitute for the day specified in the regulations in accordance with subsection (2)(b) a different day, which may not be a day that falls more than 60 days after the day on which the UN financial sanctions Resolution is adopted.
(4)The power conferred by subsection (3) may be exercised on only one occasion.
(5)Subsection (3) does not affect the power (by virtue of section 14 of the Interpretation Act 1978) to amend regulations under subsection (1) for a purpose other than that mentioned in subsection (3).
(6)A statutory instrument containing regulations under this section is subject to annulment in pursuance of a resolution of either House of Parliament.
(7)Section 153 makes further provision about regulations under this section.