Council Regulation (EU) No 267/2012, as implemented in the Bailiwick by the Iran (Restrictive Measures) (Guernsey) Ordinance, 2012, the Iran (Restrictive Measures) (Alderney) Ordinance, 2012 and the Iran (Restrictive Measures) (Sark) Ordinance, 2012, has been amended by Council Regulation (EU) No 2017/964.
The amending Regulation is available here:
The effect of the amendment, which is automatically effective in the Bailiwick, is to impose additional requirements which must be met in order to obtain authorisation for the supply, sale, transfer or use of certain nuclear-related goods to, from or in Iran. These additional requirements relate to the provision of information about end-use and end-use locations for such goods.
MEASURES WHICH SHOULD BE TAKEN
All businesses must familiarise themselves with the legislation and check whether they have any kind of relationship that may relate to prohibited activity. Businesses must report any findings to the Policy and Resources Committee immediately. Businesses must also refrain from providing financial or other forms of assistance for any prohibited activity or from making any funds or economic resources available directly or indirectly to or for the benefit of any designated person, entity or body, other than transactions that come within a permitted derogation and have been authorised by the Policy and Resources Committee.
The information referred to above is required by the Policy and Resources Committee in the exercise of its powers under the Schedule to each of the Ordinances listed above.
Any information or queries should be sent to [email protected] with the subject line “Iran”.
Further information on asset freezes is available on the States of Guernsey website at http://www.gov.gg/sanctions