Tuesday 25 March 2014
The States of Guernsey has today adopted sanction measures against the Central African Republic ("CAR"). All financial institutions and other bodies are requested to check their records to ensure they comply.
In view of the deteriorating security situation in the Central African Republic ("CAR"), on 10 March 2014 the European Council adopted Council Regulation 224/2014 which gave effect to the United Nations Security Council (UNSCR) Resolution 2127 (2013) of 5 December 2013 and Resolution 2134 (2014) of 28 January 2014. These Resolutions introduced an arms embargo and also a provision for asset freezes against certain individuals.
Guernsey has implemented the provisions of these restrictive measures through the Central African Republic (Restrictive Measures) (Guernsey) Ordinance, 2014 in order to ensure the Island's sanction regime is in line with international developments. This Ordinance was made by the Legislation Select Committee (under Article 66(3) of the Reform (Guernsey) Law 1948 as amended). The Ordinance will also be laid before the States of Deliberation at the next possible meeting.
All financial institutions and other bodies and persons in Guernsey will need to ensure they do not maintain any accounts or otherwise hold any funds or economic resources for the entities and individuals named in the HMT consolidated list. As yet there are no listed individuals or entities, but some are expected to be listed in the coming weeks. Financial institutions are advised to take a cautious approach to satisfy this sanction regime.
Article 11 requires that all financial institutions and other persons or bodies immediately supply any information on account and amounts frozen in accordance with the Regulation to the Policy Council, which is the competent authority for all purposes relevant to these sanctions.
Any queries should be sent to sanctions@gov.gg subject line 'Central African Republic sanctions'.
-ENDS-
