Monday 14th October 2019
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Comsure operates in:the UK, Jersey, Guernsey

Jersey – The Sanctions and Asset-Freezing (Jersey) Law 2019 (“SAFL”)

The Sanctions and Asset-Freezing (Jersey) Law 2019 (“SAFL”) was passed by the States Assembly on 6th December 2018, sanctioned by Privy Council on 13th March 2019, and registered in the Royal Court on 22nd March 2019 and came into force 3rd July 2019

To read the report please click here

The Sanctions and Asset-Freezing (Jersey) Law 2019[2] comes into force on 19th July 2019  following the Sanctions and Asset-Freezing (Jersey) Law 2019 (Commencement) (Jersey) Order 2019 https://www.jerseylaw.je/laws/enacted/Pages/RO-054-2019.aspx#sanctions THE MINISTER FOR EXTERNAL RELATIONS makes this Order under Article 53 of the Sanctions and Asset-Freezing (Jersey) Law 2019[1]

Key features SAFL

  1. One of “SAFL” key aims was to create one set of asset-freezing provisions in one Law for all persons or entities designated for the purpose of an asset-freeze in Jersey.
  2. Article 3 of SAFL enables the Minister for External Relations to make sanctions Orders implementing European Union (“EU”) or United Kingdom (“UK”) sanctions Regulations, which can include provisions that make EU or UK asset-freeze designations effective immediately.
  3. However, Article 3(4)(c) contains a cross-reference to Article 28 that would restrict its use to asset freeze designations made by the EU or UK that had also been mandated by the United Nations (“UN”).
  4.  Any other designations made by the EU or UK, that were not required by the UN, would have to be provided for in the relevant sanctions Order by reference to Article 3(1) and (4)(e)
  5. It was intended (as part of the rationalisation of the sanctions system) that the ability to engage Part 3 (asset-freezing) should be as simple as possible to ensure that it is most effective.
  6. In line with this, the original intention of Article 3(4)(c) was that it should also be utilised to provide for designations that were not required by the UN.

Legislative provisions

  1. Article 3(4)(c) and (6) 2.1 The Draft Sanctions and Asset-Freezing (Amendment) (Jersey) Law 201- (“the draft Law”) would remove the inappropriate reference to Article 28 from Article 3(4)(c); and would also introduce Article 3(6), which sets out the purposes referred to in Article 3(4)(c).
  2. These changes would ensure that all those who are made subject to an asset-freeze by the EU or UK can be designated for the asset-freeze imposed by Part 3 of SAFL by reference to Article 3(4)(c), regardless of whether the UN does or does not require an asset-freeze.

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