The Central African Republic (Sanctions) (Overseas Territories) Order 2014 - Advisory Warning No. 8 of 2014 (2014-08-13)

Summary

This is an advisory notice from the BVI Financial Services Commission informing the public and industry that The Central African Republic (Sanctions) (Overseas Territories) Order 2014 (UKSI 2014 No. 1368) was ratified on 27 May 2014 and extended to the British Virgin Islands. The Order implements United Nations Security Council sanctions (Resolutions 2127 of 2013 and 2134 of 2014) and corresponding EU Council Decisions against persons connected to the conflict in the Central African Republic.

• Arms embargo: Prohibits the supply of arms and related assistance, including the supply of armed mercenary personnel, to the Central African Republic.
• Asset freeze: Freezes the assets of persons designated by the UN Security Council Sanctions Committee for reasons including undermining peace and stability, violating the arms embargo, human rights or humanitarian law violations, use of child soldiers, illicit exploitation of natural resources, obstructing humanitarian aid, attacking UN missions, or acting on behalf of such designated persons.
• Licensing exemptions: The Order allows the Governor to license certain otherwise-prohibited activities as exemptions under the sanctions regime.

The notice is informational, alerting industry that the sanctions regime is now in force in the Territory and directing readers to the full text of the Order and related EU decisions online. It does not itself set out new filing or reporting procedures beyond compliance with the underlying sanctions.

Key obligations

• Persons and entities in the BVI must not deal with, or make funds or economic resources available to, persons designated under the Central African Republic sanctions regime (asset freeze).
• Persons and entities must not supply arms, armed mercenary personnel, or related assistance to the Central African Republic (arms embargo).
• Any party wishing to carry out an otherwise-prohibited activity covered by an exemption must obtain a licence from the Governor.

Applies to

financial services businesses, general public and industry practitioners in the British Virgin Islands