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The Zimbabwe (Sanctions) (Overseas Territories) (Amendment and Revocation) - Advisory Warning No. 16 of 2015 (16 December 2015)


Advisory Warning No. 16 of 2015

16 December, 2015

ADVISORY WARNING

 

The Zimbabwe (Sanctions) (Overseas Territories) (Amendment and Revocation)

Order 2015

(U.K.S.I. 2015 No. 826)

 

The British Virgin Islands Financial Services Commission (the “FSC”) is advising the public that on 16th April, 2015, The Zimbabwe (Sanctions) (Overseas Territories) (Amendment and Revocation) 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 Zimbabwe (Sanctions) (Overseas Territories) Order 2012 (the “Principal Order”).

AND NOTICE IS FURTHER GIVEN that this Order amends the Zimbabwe (Sanctions) (Overseas Territories) Order 2012 (S.I. 2012/2753, as amended) (“the principal Order”), which gives effect in certain overseas territories to sanctions adopted by the European Union against Zimbabwe.

On 27th March 2013, by Council Decision 2013/160/CFSP (OJ No L 90, 28.3.2013, p95), the European Union decided to suspend, in relation to the majority of designated persons, the application of all financial sanctions. This suspension was given effect in the Zimbabwe (Sanctions) (Overseas Territories) (Suspension and Amendment) Order 2013 (S.I. 2013/1446). The suspension was extended to additional designated persons by Council Decision 2014/98/CFSP (OJ No L 50, 20.2.2014, p20) and continued in Council Decision 2015/277/CFSP (OJ No L 47, 20.2.2015, p20) (“the 2015 Decision”). The amendments made in this Order give effect to the suspension, as continued in the 2015 Decision. In particular, article 2(2) amends the definition of “designated person” in the principal Order to exclude any person, body or entity in respect of whom the financial sanctions are suspended as listed in Annex IV to Council Regulation (EC) No 314/2004 (OJ No L 55, 24.2.2004, p1), as amended.

Article 2(3) makes minor corrections to the principal Order.

The European Union in Council Decision 2013/160 CFSP of 27th March, 2013 may be viewed in its entirety at the following URL:

http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2013:090:0095:0098:EN:PDF

The Zimbabwe (Sanctions) (Overseas Territories) (Amendment and Revocation) Order 2015 may be viewed in its entirety at the following URL:

http://www.legislation.gov.uk/uksi/2015/826/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