Special Economic Measures (Russia) Regulations

Marginal note:New debt financing — 30 days

• 3.1 (1) It is prohibited for any person in Canada and any Canadian outside Canada to transact in, provide or otherwise deal in a loan, bond or debenture, of longer than 30 days’ maturity in relation to:

  • (a) a designated person listed in Schedule 2;

  • (b) the property of a designated person listed in Schedule 2; or

  • (c) the interests or rights in property of a designated person listed in Schedule 2.

• Marginal note:New debt financing — 90 days

  (1.1) It is prohibited for any person in Canada and any Canadian outside Canada to transact in, provide or otherwise deal in a loan, bond or debenture, of longer than 90 days’ maturity in relation to:

  • (a) a designated person listed in Schedule 3;

  • (b) the property of a designated person listed in Schedule 3; or

  • (c) the interests or rights in property of a designated person listed in Schedule 3.

• Marginal note:Non-application

  (2) Subsections (1) and (1.1) do not apply in respect of a loan that was made or a bond or debenture that was issued before the designated person was listed in Schedule 2 or 3.