News

The Yemen (Sanctions) (Overseas Territories) (No.2) Order 2015 - Advisory Warning No. 4 of 2015 (16 December 2015)


Advisory Warning No. 4 of 2015

16 December, 2015

ADVISORY WARNING

 

The Yemen (Sanctions) (Overseas Territories) (No.2) Order 2015

(U.K.S.I. 2015 No. 1381)

 

The British Virgin Islands Financial Services Commission (the “FSC”) is advising the public that on 18th June 2015, The Yemen (Sanctions) (Overseas Territories) (No.2) Order 2015 (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 Order.

AND NOTICE IS FURTHER GIVEN that this Order gives effect in specified Overseas Territories to sanctions relating to Yemen imposed by United Nations Security Council resolutions 2140 (2014) of 26th February 2014, 2204 (2015) of 24th February 2015 and 2216 (2015) of 14th April 2015. This Order also reflects the implementation of these sanctions by the European Union in Council Decision 2014/932/CFSP adopted on 18th December 2014 and Council Regulation 1352/2014 adopted on 18th December 2014.

The sanctions imposed by United Nations Security Council resolutions 2140 (2014) and 2204 (2015) include an asset freeze and prohibition on the provision of assistance to persons and entities designated by the United Nations Security Council as persons engaging in or providing support for acts that threaten the peace, security or stability of Yemen or individuals or entities acting on their behalf or at their direction. They also include a travel ban in respect of designated individuals. Subsequently, United Nations Security Council resolution 2216 (2015) added an arms embargo in relation to designated individuals and entities and those in Yemen acting on their behalf or at their direction. Accordingly, this order revokes and replaces the Yemen (Sanctions) (Overseas Territories) Order 2015. This Order also makes provision for the Governor to license certain activities in line with exemptions under the sanctions regime.

The United Nations Security Council Resolution 2140 (2014) of 26th February 2014 may be viewed in its entirety at the following URL:

http://www.un.org/en/ga/search/view_doc.asp?symbol=S/RES/2140%282014%29

The United Nations Security Council Resolution 2204 (2015) of 24th February, 2015 may be viewed in its entirety at the following URL:

http://www.un.org/en/ga/search/view_doc.asp?symbol=S/RES/2204%282015%29

The United Nations Security Council Resolution 2216 (2015) of 14th April, 2015 may be viewed in its entirety at the following URL:

http://www.un.org/en/ga/search/view_doc.asp?symbol=S/RES/2216%282015%29

The European Union in Council Decision 2014/932 CFSP of 18th December, 2014 may be viewed in its entirety at the following URL:

http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32014D0932&rid=1

The European Union in Council Regulation 1352/2014 of 18th December 2014 may be viewed in its entirety at the following URL:

http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32014R1352&rid=1

The Yemen (Sanctions) (Overseas Territories) (No.2) Order 2015 may be viewed in its entirety at the following URL:

http://www.legislation.gov.uk/uksi/2015/1381/made

Additional Links of Interest:

Consolidated list of financial sanctions targets in the UK – this link updates automatically as new Orders are ratified and extended to the Overseas Territories:

http://hmt-sanctions.s3.amazonaws.com/sanctionsconlist.pdf

List of all Sanctions Orders still enforced and extended to the Overseas Territories: 

http://www.legislation.gov.uk/all?title=sanctions

Actions: E-mail | Permalink |

Contact Information

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