The South Sudan (Sanctions) (Overseas Territories) (Amendment) Order 2015 - Advisory Warning No. 7 of 2015 (2015-12-16)

Summary

This is an advisory notice from the BVI Financial Services Commission informing the public that the UK's South Sudan (Sanctions) (Overseas Territories) (Amendment) Order 2015 has been extended to the British Virgin Islands. The Order makes a technical amendment to the principal South Sudan sanctions regime rather than introducing new substantive restrictions.

• What changed: Article 2 of the Order updates the definition of 'the Council Regulation' in article 3(1) of the principal Order, replacing the repealed EU Council Regulation No. 748/2014 with EU Council Regulation No. 2015/735, reflecting related UN Security Council Resolution 2206 (2015) and EU Council Decision 2015/740.
• Legal basis: The Order was ratified and extended to the Territory on 12 August 2015 under Schedule 1 to the South Sudan (Sanctions) (Overseas Territories) Order 2014, which gives effect to UN and EU restrictive measures against South Sudan.
• Nature of notice: This is a public advisory alerting industry to the legislative change and providing links to the relevant UK, EU and UN source instruments; it does not itself create new filing or reporting requirements.

Firms should continue to comply with existing South Sudan sanctions screening obligations under the amended definitions, and should consult the underlying UK Statutory Instrument and EU/UN instruments linked in the notice for full legal text.

Applies to

banks, trust and corporate service providers, insurance entities, investment business entities, money services businesses, virtual asset service providers, all persons subject to BVI sanctions regime