Sanctions Notice - gov.gg website update

UPDATE ON CHANGES RELATING TO BREXIT

This Notice follows on from earlier Notices issued in relation to the changes to the implementation of sanctions resulting from Brexit.

As previously advised, with effect from 31st December 2020 the UK introduced its own sanctions regimes that repeal and replace EU sanctions regimes, and the Policy & Resources Committee has made the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020 (the 2020 regulations) which came into force at the same time. Under the 2020 regulations, all targeted financial sanctions and other measures under UK sanctions regimes are implemented in the Bailiwick (including UN regimes, such as those that relate to terrorist financing and the financing of the proliferation of weapons of mass destruction). The 2020 regulations also repeal the measures that were previously in place to implement EU sanctions regimes.

Further information about the 2020 regulations and the UK sanctions regimes that they implement is now available on the States of Guernsey website here:

http://www.gov.gg/sanctions

Information on individual sanctions regimes can be found here:

https://gov.gg/sanctionsmeasures

MEASURES WHICH SHOULD BE TAKEN

Businesses must refrain from taking any action that would breach a UK sanctions regime and in particular must treat any funds, other assets or economic resources

• directly or indirectly belonging to, owned, held or controlled by a listed person, 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 & Resources Committee immediately. They must also ensure that they have taken all other steps that may be required in order to comply with the reporting obligations at section 14 of the Sanctions Law or under a specific UK sanctions regime.

Businesses must also refrain from making any funds or economic resources available directly or indirectly, wholly or jointly, to or for the benefit of 

• any designated person, entity or body
• any entity directly or indirectly owned or controlled by a designated person, entity or body, whether wholly or jointly
• any individuals or entities acting on behalf or at the direction of a designated person, entity or body, whether wholly or jointly

other than in respect of transactions that come within a permitted derogation as determined by the Policy & Resources Committee, or in accordance with a licence issued by the Policy & Resources Committee, as the case may be.

The information referred to above is required by the Policy & Resources Committee in the exercise of its powers under section 15 of the Sanctions Law.

Further information on the effect of asset freezes and related issues including licences is also available on the States of Guernsey website at http://www.gov.gg/sanctions