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Libya Feb 2016

The Libya (Restrictive Measures)(Guernsey) Ordinance, 2016 ("the Ordinance") has been made to give effect to Council Regulation (EU) 2016/44 concerning restrictive measures in relation to Libya.

The Regulation consolidates existing restrictive measures by repealing and replacing previous Regulations concerning Libya that have been enacted since 2011. These measures have been implemented in Guernsey by the Libya (Restrictive Measures) (Guernsey) Ordinance, 2011 and the change at EU level is reflected in the Ordinance, which repeals and replaces the 2011 Ordinance.

The EU regulation is available here: Council Regulation (EU) 2016/44

MEASURES WHICH SHOULD BE TAKEN

All businesses must familiarise themselves with the legislation and check whether they have any kind of relationship that may relate to prohibited activity. In particular they must check whether they maintain any accounts or otherwise hold any funds or economic resources for any of the individuals designated under the EU Regulation, and must treat any such accounts, funds or economic resources as frozen with immediate effect if this is not already the case. They must report any findings to the Policy Council immediately. Businesses must also refrain from making any funds or economic resources available directly or indirectly to any listed person, unless this is in connection with a transaction that comes within a permitted derogation and has been authorised by the Policy Council.

The information referred to above is required by the Policy Council in the exercise of its powers under the Schedule to the Ordinance.

Any information or queries should be sent to sanctions@gov.gg with the subject line "Libya".

Further information on the effect of asset freezes and related issues including licences is available on the States of Guernsey website at https://gov.gg/sanctions