Mali (Restrictive Measures) (Guernsey) Ordinance, 2017
The Mali (Restrictive Measures) (Guernsey) Ordinance, 2017 has been made to give effect to Council Regulation (EU) 2017/1770 concerning restrictive measures in relation to Mali.
The effect of the Regulation is to freeze the funds and economic resources of listed persons responsible for or complicit in actions or policies that threaten the peace, security or stability of Mali. No persons 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.
Any designations made by the EU will automatically be effective under the Ordinance. In those circumstances businesses must check whether they maintain any accounts or otherwise have any kind of direct or indirect relationship with any natural or legal persons, entities or bodies designated under the legislation, and must treat any funds or economic resources
- belonging to, owned, held or controlled by them or
- derived from any funds or economic resources belonging to, owned, held or controlled by them or
- belonging to individuals or entities acting on their behalf or at their direction
as frozen with immediate effect if this is not already the case. They must report any findings to the Policy and Resources Committee immediately. Businesses must also refrain from making any funds or economic resources available directly or indirectly to, or for the benefit of, any designated person, entity or body unless this is in connection with a transaction that comes within a permitted derogation and has 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 the Ordinance.
Any information or queries should be sent to firstname.lastname@example.org with the subject line "Mali".
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