The Guinea (Sanctions) (Overseas Territories) Order 2013 - Advisory Warning No. 13 of 2014 (2014-08-13)

Summary

This is an advisory from the BVI Financial Services Commission notifying the public that The Guinea (Sanctions) (Overseas Territories) Order 2013 has been extended to the British Virgin Islands. The Order implements EU sanctions against the Republic of Guinea, adopted under Council Decision 2010/638/CFSP, targeting persons and entities responsible for violent repression in Guinea.

• Arms embargo: Prohibition on the sale or supply to Guinea of arms and related materiel, and equipment that might be used for internal repression.
• Assistance ban: Prohibition on supplying technical assistance, training, financial and other specified forms of assistance in connection with such items.
• Asset freeze: Freezing of funds and economic resources owned or controlled by persons or entities identified as responsible for violent repression in Guinea on 28 September 2009.
• Funds prohibition: Prohibition on making funds or economic resources available to such designated persons or entities.

The advisory is informational, directing regulated persons and the public to the underlying UK statutory instrument and EU Council Decision for the full sanctions text, rather than imposing new standalone requirements beyond compliance with the extended Order.

Key obligations

• Comply with the prohibition on sale or supply of arms and related materiel and internal-repression equipment to Guinea
• Comply with the prohibition on supplying technical assistance, training, and financial or other specified assistance related to such items
• Freeze funds and economic resources owned or controlled by designated persons or entities responsible for violent repression in Guinea
• Refrain from making funds or economic resources available to designated persons or entities

Applies to

financial services businesses, regulated entities, the public