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The Burma (Restrictive Measures )(Overseas Territories)(Suspension) Order 2012 - Advisory Warning No. 31 of 2012 (31 December 2012)

Advisory Warning No. 31 of 2012

31 December, 2012

ADVISORY WARNING

The Burma (Restrictive Measures) (Overseas Territories) (Suspension) Order 2012 [U.K.S.I. 2012 No. 2596]

 

 

Tortola, British Virgin Islands – 31 December, 2012 – The British Virgin Islands Financial Services Commission (the ”FSC”) is advising the public that on 19 October 2012, The Burma (Restrictive Measures) (Overseas Territories) (Suspensions) Order 2012 (the “Order”) was ratified and extended to the Territory.

 

NOTICE IS HEREBY GIVEN that this Order has been extended to the Territory by virtue of Schedule 1 to the principal Order, The Burma (Restrictive Measures) (Overseas Territories) Order 2009 [U.K.S.I. 2009 No. 3008].

 

AND NOTICE IS FURTHER GIVEN that the principal Order, The Burma (Restrictive Measures) (Overseas Territories) Order 2009 gave effect in certain United Kingdom Overseas Territories to sanctions against Burma decided upon by the Council of the European Union in Council Common Position 2007/750/CFSP of 19 November 2007, and implemented in Council Regulation (EC) No. 194/2008 of 25 February 2008. These measures comprised an arms embargo, a prohibition on the supply of equipment which might be used for internal repression or for use in the logging, timber processing or various mining industries, the provision of technical assistance relating to such goods, a prohibition on imports of timber products, coal, certain metals, precious and semi-precious stones, and financial sanctions directed against certain persons and entities connected with the Burmese regime.

 

On 26 April 2012, by Decision 2012/225/CFSP, in view of positive political developments in Burma, the Council of the European Union decided to suspend the application of all of these measures except for the embargoes on the supply of arms and related material and equipment which might be used for internal repression, together with the prohibition on the provision of technical assistance related to such goods. The EU suspension took effect on 16 May 2012. The Council of the European Union will decide before 30 April 2013 whether to extend the suspension.

 

This new Order, The Burma (Restrictive Measures) (Overseas Territories) (Suspension) Order 2012 gives effect to that suspension and provides an updated definition of restricted goods.

 

The European Union in Council Regulation (EC) No. 194/2008 of 25 February 2008 may be viewed in its entirety at the following URL:

 

http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2008:066:0001:0087:EN:PDF

 

The European Union in Council Decision 2012/225/CFSP of 26 April 2012 may be viewed in its entirety at the following URL:

 

http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2012:115:0025:0026:EN:PDF

 

The Burma (Restrictive Measures) (Overseas Territories) Order 2009 [U.K.S.I. 2009 No. 3008] may be viewed in its entirety at the following URL:

 

http://www.legislation.gov.uk/uksi/2009/3008/pdfs/uksi_20093008_en.pdf

 

The Burma (Restrictive Measures) (Overseas Territories) (Suspension) Order 2012 [U.K.S.I. 2012 No. 2596] may be viewed in its entirety at the following URL:

 

http://www.legislation.gov.uk/uksi/2012/2596/pdfs/uksi_20122596_en.pdf

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British Virgin Islands Financial Services Commission


Pasea Estate
P.O. Box 418
Road Town, Tortola, VG 1110
British Virgin Islands

Tel: 284-494-1324 or 284-494-4190 GMT – 4:00
Fax: 284-494-5016
Hours: Monday-Friday 8:30a.m. - 4:30p.m.
commissioner@bvifsc.vg