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TERRORISM AND TERRORIST FINANCING

The list of persons subject to restrictive measures under Council Regulation 2580/2001 (the EU Regulation) has been amended by Council Implementing Regulation (EU) No 2018/468. The effect of the amendment is to update the information relating to the persons, groups and entities on the list.

The Implementing Regulation is available here:

Council Implementing Regulation (EU) 2018/468

Persons who are listed for the purposes of the EU Regulation are also automatically Designated Persons for the purposes of the Terrorist Asset-Freezing (Bailiwick of Guernsey) Law, 2011, and any changes to the list are automatically effective under the 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