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The Iraq (Sanctions) (Overseas Territories) Order 2015 - Advisory Warning No. 14 of 2015 (16 December 2015)


Advisory Warning No. 14 of 2015

16 December, 2015

ADVISORY WARNING

 

The Iraq (Sanctions) (Overseas Territories) Order 2015

(U.K.S.I. 2015 No. 1383)

 

The British Virgin Islands Financial Services Commission (the “FSC”) is advising the public that on 8th July 2015, The Iraq (Sanctions) (Overseas Territories) 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 imposed on Iraq by United Nations Security Council resolutions 661 (1990) of 6th August 1990, 687 (1991) of 3rd April 1991, 1483 (2003) of 22nd May 2003, 1546 (2004) of 8th June 2004 and 1956 (2010) of 15th December 2010.

This Order also reflects the implementation of these sanctions by the European Union in Council Common Position 2003/495/CFSP and Council Regulation 1210/2003, both adopted on 7th July 2003, as amended by Council Decision 2014/484/CFSP and Council Regulation 791/2014, both adopted on 22nd July 2014.

This Order revokes and replaces the Iraq (United Nations Sanctions) (Overseas Territories) (Amendment) Order 2012, the Iraq (United Nations Sanctions) (Overseas Territories) (Amendment) (No.2) Order 2004, the Iraq (United Nations Sanctions) (Overseas Territories) (Amendment) Order 2004 and the Iraq (United Nations Sanctions) (Overseas Territories) Order 2003.

The sanctions imposed include an arms embargo and an asset freeze against persons designated by the United Nations Sanctions Committee. The Order also contains a prohibition on the import or export of illegally removed Iraqi cultural property in the specified Overseas Territories.

The Order makes provision for the Governor to license certain activities in line with exemptions under the sanctions regime.

The European Union in Council Common Position 2003/495 CFSP of 7th July, 2003 may be viewed in its entirety at the following URL:

http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32003E0495&rid=1

The European Union in Council Regulation 1210/2003 of 7th July, 2003 may be viewed in its entirety at the following URL:

http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32003R1210&rid=1

The European Union in Council Decision 2014/484 CFSP of 22nd July, 2014 may be viewed in its entirety at the following URL:

http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32014D0484&rid=1

The European Union in Council Regulation 791/2014 of 22nd July, 2014 may be viewed in its entirety at the following URL:

http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32014R0791&rid=1

The Iraq (Sanctions) (Overseas Territories) Order 2015 may be viewed in its entirety at the following URL:

http://www.legislation.gov.uk/uksi/2015/1383/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


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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