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Terrorism and Terrorist Financing

HM Treasury has renewed the final designation of one individual under the Terrorist Asset-Freezing etc. Act 2010. The individual therefore remains a Designated Person for the purposes of the Act.

Details of the individual are available here:

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/521530/TAFA_Renewal_Notice_050516v2.pdf  

HM Treasury has also allowed the designation of one individual to lapse. Details of the individual are available here: https://www.gov.uk/government/publications/current-list-of-designated-persons-terrorism-and-terrorist-financing

Under Council Implementing Regulation (EU) 2016/620, the EU has removed one entity from the list of persons, groups and entities subject to the measures under Council Regulation (EC) 101/2001. The Implementing Regulation is available here: 

 http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=OJ:L:2016:106:FULL&from=EN

Persons who are the subject of a designation under and within the meaning of the Act or the EU Regulation are also automatically designated persons for the purposes of the Terrorist Asset-Freezing (Bailiwick of Guernsey) Law, 2011 with immediate effect, and are subject to the asset freeze and other prohibitions in relation to designated persons in the Guernsey Law.

 

MEASURES WHICH SHOULD BE TAKEN

All businesses must check whether they maintain any accounts or otherwise have any kind of relationship with any natural or legal person, entity or body designated under the legislation and treat any accounts, funds or economic resources belonging to, owned, held or controlled by a designated person as frozen with immediate effect if this is not already the case. Businesses must report any findings to the Policy and Resources Committee immediately. Businesses must also refrain from making any funds or economic resources available directly or indirectly to or for the benefit of any designated person unless this is in connection with a transaction that has licensed by the Policy and Resources Committee.

The information referred to above is required by the Policy and Resources Committee in the exercise of its powers under section 18 of the Terrorist Asset Freezing Law.

Any information or queries should be sent to sanctions@gov.gg 

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