Sanctions Notice - Burundi8th October 2015
Burundi (Restrictive Measures) (Guernsey) Ordinance, 2015
The Burundi (Restrictive Measures) (Guernsey) Ordinance, 2015 has been made to give effect to Council Regulation (EU) 2015/1755 concerning restrictive measures in relation to Burundi.
The effect of the Regulation is to freeze the funds and economic resources of listed persons, entities and bodies responsible for undermining democracy or obstructing the search for a political solution in Burundi. 4 individuals are currently designated.
The EU regulation is available here:
MEASURES WHICH SHOULD BE TAKEN
The Ordinance referred to above is immediately effective and will shortly be available on the Guernsey Legal Resources website.
Businesses must check whether they maintain any accounts or otherwise hold any funds or economic resources for any of the individuals designated under the EU Regulation, and must treat any such accounts, funds or economic resources as frozen with immediate effect if this is not already the case. They must report any findings to the Policy Council immediately. Businesses must also refrain from making any funds or economic resources available directly or indirectly to any listed person, unless this is in connection with a transaction that comes within a permitted derogation and has been authorised by the Policy Council.
The information referred to above is required by the Policy Council in the exercise of its powers under the Schedule to the Ordinance.
Any information or queries should be sent to [email protected] with the subject line “Burundi”.
Further information on the effect of asset freezes and related issues including licences is available on the States of Guernsey website at http://www.gov.gg/sanctions