Posted on May 06, 2011 11:14
Tortola – British Virgin Islands – 6 May, 2011 – The British Virgin Islands Financial Services Commission (the "FSC") wishes to advise the public that The Tunisia (Restrictive Measures) (Overseas Territories) Order 2011 came into force on 18 March, 2011. The Order was made as a result of the European Union in Council Decision 2011/72/CFSP on 31 January, 2011 and implemented in the European Union Council Regulation (EU) No. 101/2011 adopted on 4 February, 2011, calling upon member states to introduce restrictive measures on certain persons, entities and bodies responsible for the misappropriation of Tunisian State funds, and persons associated with them who are thereby depriving the Tunisian people of the benefits of the sustainable development of their economy and society and undermining the development of democracy in that country. The measures in the Order include a prohibition on making available funds, financial assets or economic resources to designated persons, entities and bodies, the freezing of their funds, financial assets or economic resources and the disclosure of same by financial institutions.
The Order is extended to the Virgin Islands by virtue of Schedule 1 of the Order. The Order may be viewed in its entirety via the following link:
Both European Union documents may be viewed in their entirety via the European Union law library index below:
The Commission advises that members of the public, including all regulated entities and other persons should note accordingly.
For further information, please contact:
BVI Financial Services Commission
Pasea Estate, Tortola, British Virgin Islands
Tel: (284) 494- 4190
Fax: (284) 494-5016