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 financing for or otherwise deal in new debt of longer than 30 days’ maturity, including bonds, loans, debentures, extensions of credit, loan guarantees, letters of credit, bank drafts, bankers’ acceptances, discount notes, treasury bills, commercial paper and other similar instruments, 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 financing for or otherwise deal in new debt of longer than 90 days’ maturity, including bonds, loans, debentures, extensions of credit, loan guarantees, letters of credit, bank drafts, bankers’ acceptances, discount notes, treasury bills, commercial paper and other similar instruments, 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 if the activities referred to in those subsections were undertaken before the designated person was listed in Schedule 2 or 3.