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GUERNSEY Sanctions Notice - Change to Sanctions Legislation

11/03/2024

We want to bring to your attention that significant amendments have been made to the Terrorist Asset-Freezing (Bailiwick of Guernsey) Law 2011 (the Terrorist Asset Freezing Law) and the Sanctions (Bailiwick of Guernsey) Law, 2018 (the Sanctions Law). These changes are crucial and would need your attention.

The following regulations make the amendments–

  • The Terrorist Asset-Freezing (Bailiwick of Guernsey) Law 2011 (Amendment) Regulations 2024
  • The Sanctions (Bailiwick of Guernsey) Law 2018 (Amendment) Regulations 2024

The amendments to the Terrorist Asset Freezing Law concern the asset freeze. Measures applicable to persons designated under the Terrorist Asset Freezing Law.

The amendments aim to align these measures' wording with corresponding wording in UK sanctions regimes that are applicable in the Bailiwick. It's important to note that to date, no designations have been made under the Terrorist Asset Freezing Law, so the effect of the amendments is purely technical and does not alter your existing obligations.

The amendments to the Sanctions Law concern the asset freeze, etc., measures that apply to persons designated under UK regimes. These measures are already directly effective in implementing these regimes in the Bailiwick.

The purpose of the amendments is to make these measures explicit in the face of Bailiwick legislation. This has been done by specifying that where a person has been designated for asset freeze, etc., measures under a UK sanctions regime, the prohibitions that apply are the same as those under the Terrorist Asset Freezing Law.

As mentioned above, the wording of these prohibitions is consistent with the wording of UK asset freeze provisions already applicable in the Bailiwick, so here, too, the amendment is technical only. It does not affect the obligations that are already applicable to businesses in respect of designated persons.

GUERNSEY SANCTIONS

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