Council Regulation (EU) No 101/2011, as implemented in the Bailiwick by the Tunisia (Freezing of Funds) (Guernsey) Ordinance, 2011, the Tunisia (Freezing of Funds) (Alderney) Ordinance, 2011 and the Tunisia (Freezing of Funds) (Sark) Ordinance, 2011, has been amended by Council Implementing Regulation (EU) 2017/149.
The Implementing Regulation is available here:
The effect of the Implementing Regulation, which is automatically effective in the Bailiwick, is to update the information in relation to two individuals on the list of persons subject to an asset freeze and other financial restrictions.
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, entity or body 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, entity or body other than in respect of 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 “Tunisia”.
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.