Jersey sanctions [SAFL] changed - check now
Jersey's Minister for External Relations has signed an order bringing the Sanctions and Asset-Freezing (Amendment No. 2) (Jersey) Law 2022 into force with effect from tomorrow (Wednesday 8 June 2022).
This amendment makes a number of technical changes to the Sanctions and Asset-Freezing (Jersey) Law 2019, so anyone in compliance / sanctions / financial crime in Jersey needs to take a careful look.
Also note that the consolidated version of the Law has not yet been published so you will need to manually compare the Law and Amendment side-by-side.
SANCTIONS AND ASSET-FREEZING (AMENDMENT No. 2) (JERSEY) LAW 2022
- Amendment of the Sanctions and Asset-Freezing (Jersey) Law 2019
- Article 1 (interpretation) amended
- Article 2 (meaning of “financial services”, “funds”, “economic resources” and related expressions) amended
- Article 2A (meaning of “owned”, “held”, “controlled”, “directly” and “indirectly”) and Schedule 2 (rules for interpretation of Article 2A) inserted
- Article 3 (implementation of UK and EU sanctions provisions through Orders) amended
- Article 5 (general provisions Orders) amended
- Article 15 (exceptions) amended
- Article 16 (licences) amended
- Article 18 (meaning of “terrorism” and related terms) amended
- Article 19 (designation by virtue of UK, EU or UN listing related to terrorism) amended
- Article 20 (power of Minister to make interim terrorism designation) amended
- Article 22 (power of Minister to make final terrorism designation) amended
- Article 29 (interim designation of UN-listed person when UNSCR is implemented by UK or EU) amended
- Article 32 (reporting obligations of relevant financial institutions and statutory authorities) amended
- Article 36 (general power to disclose information) amended
- Article 37A (publication of procedures and memorandum of understanding) inserted
- Article 43A (requests for assistance with UN de-listing) inserted
- Articles 45A (request from or to another country for terrorism designation) and 45B (request to UN for terrorism designation) inserted
- Article 46A (civil immunity) inserted
- Article 48 (savings, transitional and consequential provisions) amended
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