Advisory Warning No. 6 of 2014 - The Syria (Restrictive Measures) (Overseas Territories) (Amendment) Order 2013 (2014-08-13)

Summary

This is an informational advisory from the BVI Financial Services Commission notifying the public that the Syria (Restrictive Measures) (Overseas Territories) (Amendment) Order 2013 (UK S.I. 2013 No. 1719) was ratified on 10 July 2013 and extended to the Territory. It amends the principal Syria (Restrictive Measures) (Overseas Territories) Order 2012, which gives effect in the Territory to EU sanctions against Syria.

• Arms licensing power widened: The Order widens the Governor's power to license the sale, supply, transfer or export of arms and related materiel and equipment that might be used for internal repression, subject to the Secretary of State's consent, reflecting the lifting of the arms embargo under EU Council Decision 2013/255/CFSP.
• New asset freeze exemptions: The Order adds new exemptions to the asset freeze provisions of the principal Order.
• Underlying EU decisions referenced: The amendments give effect to changes made by EU Council Decisions 2012/739/CFSP (29 November 2012) and 2013/255/CFSP (31 May 2013), updating the earlier Council Decision 2011/782/CFSP.

The advisory is notificatory only, directing readers to the full text of the Order and the relevant EU decisions via provided links; it does not itself set out new filing requirements or deadlines for licensees.