Council Regulation (EC) No 36/2012, as implemented by the Syria (Restrictive Measures) (Guernsey) Ordinance, 2012, the Syria (Restrictive Measures) (Alderney) Ordinance, 2012 and the Syria (Restrictive Measures) (Sark) Ordinance, 2012, has been amended by Council Implementing Regulation (EU) No 2015/961.
The Implementing Regulation is available here: Council Implementing Regulation (EU) 2015/961.
It amends the list of persons subject to an asset freeze and related financial prohibitions. The effect of the amendment, which is automatically effective in the Bailiwick, is to remove 1 natural person from the list.
MEASURES WHICH SHOULD BE TAKEN
All businesses must check whether they maintain any accounts or otherwise have any kind of relationship with natural or legal persons, entities or bodies designated under the legislation referred above and treat any funds or economic resources belonging to, owned, held or controlled by them 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, or for the benefit of, any designated person, entity or body other than in respect of transactions that come within a permitted derogation and have 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 each of the Ordinances listed above.
Any information or queries should be sent to [email protected] with the subject line “Syria”.
Further information on asset freezes is available on the States of Guernsey website at http://www.gov.gg/sanctions