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TERRORISM AND TERRORIST FINANCING

HM Treasury has renewed the final designation of four persons under the Terrorist Asset-Freezing etc. Act 2010. The persons therefore remain a Designated Persons for the purposes of the Act.

Details of the persons are available here:

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/680016/TAFA_Renewal_Notice_06-01-18_Mishaal-_Marzouk-_Hamdan-_Al-Alami.pdf

Persons who are the subject of a designation under and within the meaning of the Act 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 the entities referred to above or with any other natural or legal person, entity or body designated under the legislation and must treat any funds, other assets or economic resources

  • directly or indirectly belonging to, owned, held or controlled by them, whether wholly or jointly, or

  • derived from any funds or economic resources directly or indirectly belonging to, owned, held or controlled by them, whether wholly or jointly, or

  • belonging to individuals or entities acting on their behalf or at their direction, whether wholly or jointly

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, wholly or jointly, to or for the benefit of

  • any designated person, entity or body

  • any entity directly or indirectly owned or controlled by a designated person, entity or body, whether wholly or jointly

  • any individuals or entities acting on behalf or at the direction of a designated person, entity or body, whether wholly or jointly

other than in respect of transactions that come within a permitted derogation and have been authorised 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 with the subject line "Terrorist Financing".

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