Under Council Implementing Regulation (EU) 2015/2425, the EU has updated the list of persons, groups and entities subject to the measures under Council Regulation (EC) 101/2001 ("the EU Regulation"). The updated list 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 with immediate effect, and are subject to the asset freeze and other prohibitions in relation to Designated Persons in 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 designated under the legislation and treat any accounts, funds or economic resources belonging to, owned, held or controlled by a Designated Person as frozen with immediate effect if this is not already the case. Businesses 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 other than in respect of transactions that 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 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.