Sanctions Notice - Iran
9th April 2015IRAN – HUMAN RIGHTS
Council Regulation (EU) 359/2011, as implemented by the Iran (Freezing of Funds) (Guernsey) Ordinance, 2011, the Iran (Freezing of Funds) (Alderney) Ordinance, 2011and the Iran (Freezing of Funds) (Sark) Ordinance, 2011, has been amended by Council Implementing Regulation (EU) No 2015/548 with effect from 8 April 2015. The Implementing Regulation is available here: Council Implementing Regulation (EU) 2015/548
The effect of the amendments, which are automatically effective in the Bailiwick, is to remove 3 natural persons from the list of persons subject to an asset freeze and related financial prohibitions, and to update the details in respect of existing listings for certain natural persons and for 1 entity.
IRAN – NUCLEAR PROLIFERATION
Council Regulation (EU) 267/2012, as implemented by the Iran (Restrictive Measures) (Guernsey) Ordinance, 2012, the Iran (Restrictive Measures) Alderney) Ordinance, 2012 and the Iran (Restrictive Measures) (Sark) Ordinance, 2012, has been amended by Council Implementing Regulation (EU) No 2015/549 with effect from 8 April 2015. The Implementing Regulation is available here: Council Implementing Regulation (EU) 2015/549
The effect of the amendments, which are automatically effective in the Bailiwick, is to re-list a number of entities whose previous inclusion on the list of persons subject to an asset freeze and related financial prohibitions listings had been annulled by the General Court of the European Union.
MEASURES WHICH SHOULD BE TAKEN
All businesses must check whether they maintain any accounts or otherwise hold any funds or economic resources for any person designated under the legislation listed above and treat any such accounts, funds or economic resources 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 any designated person unless licensed 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 'Iran'.
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