Sanctions Notice - Terrorism and Terrorist Financing17th November 2017
The list of persons subject to restrictive measures under Council Regulation 2580/2001 (the EU Regulation) has been amended by Council Implementing Regulation (EU) No 2017/2064. The effect of the amendment is to remove one entity from the list
The Implementing Regulation is available here:
Persons who are listed for the purposes of the EU Regulation are also automatically Designated Persons for the purposes of the Terrorist Asset-Freezing (Bailiwick of Guernsey) Law, 2011, and any deletions from the list are automatically effective under the Law.
MEASURES WHICH SHOULD BE TAKEN
All businesses must check whether they maintain any accounts or otherwise have any kind of relationship with any natural or legal person, entity or body who is a Designated Person and must treat any funds, other assets or economic resources
- directly or indirectly belonging to, owned, held or controlled by them, whether wholly or jointly, or
- derived from any funds or economic resources directly or indirectly belonging to, owned, held or controlled by them, whether wholly or jointly, or
- belonging to individuals or entities acting on their behalf or at their direction, whether wholly or jointly
as frozen with immediate effect if this is not already the case. Businesses 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 other than in respect of transactions that 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 section 18 of the Terrorist Asset Freezing Law.
Any information or queries should be sent to [email protected] with the subject line “Terrorist Financing”.
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.