5 (“the relevant prohibition”), the relevant prohibition is not contravened if the conduct is authorised by a licence or other authorisation which is issued— 

(a) under the law of the relevant country, and 

(b) for the purpose of disapplying a prohibition in that jurisdiction which corresponds to the relevant prohibition. 

(3) In this regulation— 

“relevant country” means— 

(a) any of the Channel Islands, or 

(b) any British overseas territory.” 

17.  For regulation 43 (exception for acts done for purposes of national security or prevention of serious crime), substitute— 

“ 43. —(1) Where an act would, in the absence of this paragraph, be prohibited by the prohibition in regulation 9(2) (confidentiality) or any prohibition in Part 3 (Finance) or Part 5 (Trade), that prohibition does not apply to the act if the act is one which— 

(a) a UK responsible officer has determined would be in the interests of— 

(i) national security, or 

(ii) the prevention or detection of serious crime in the United Kingdom or elsewhere, or 

(b) an Island responsible officer has determined would be in the interests of the prevention or detection of serious crime in the Isle of Man or elsewhere. 

(2) Where, in the absence of this paragraph, a thing would be required to be done under or by virtue of a provision of Part 7 (Information and records) or Part 9 (Maritime enforcement), that requirement does not apply if— 

(a) a UK responsible officer has determined that not doing the thing in question would be in the interests of— 

(i) national security, or 

(ii) the prevention or detection of serious crime in the United Kingdom or elsewhere, or 

(b) an Island responsible officer has determined that not doing the thing in question would be in the interests of the prevention or detection of serious crime in the Isle of Man or elsewhere. 

(3) In this regulation— 

“Island responsible officer” means a person— 

(a) in the service of the Crown or holding office under the Crown in the Isle of Man, 

(b) appointed by the Public Services Commission, or 

(c) appointed as a constable by the Department of Home Affairs, 

acting in the course of that person’s duty; 

“Public Services Commission” means the Public Services Commission established by the Public Services Commission Act 2015 (of Tynwald)( a ); 

“UK responsible officer” means a person in the service of the Crown or holding office under the Crown in the United Kingdom, acting in the course of that person’s duty.” 

18.  In regulation 44(2) (Treasury licences), for “consider” substitute “considers”. 

19.  In regulation 45 (trade licences), for “Secretary of State”, substitute “Treasury”. 

