The Sudan (Sanctions) (Overseas Territories) Order 2014 - Advisory Warning No. 5 of 2015 (2015-12-16)

Summary

This is an advisory notice from the BVI Financial Services Commission informing the public that The Sudan (Sanctions) (Overseas Territories) Order 2014 has been extended to the British Virgin Islands. The Order implements United Nations Security Council sanctions on Sudan (and reflects related EU measures) and replaces earlier Sudan-related sanctions orders.

• Arms embargo: Prohibits the supply of arms and related assistance to Sudan.
• Asset freeze: Freezes the assets of persons designated by the UN Security Council for impeding the peace process, threatening stability in Darfur, committing serious human rights or humanitarian law violations, or breaching the arms embargo.
• Travel ban: Restricts travel by designated persons.
• Licensing exemptions: The Governor may license certain activities that would otherwise be prohibited, in line with exemptions under the sanctions regime.

The notice itself is informational and does not create new procedural requirements beyond directing the public and industry to comply with the sanctions regime and consult the underlying UN and EU instruments and the UK consolidated sanctions list for designated persons.

Key obligations

• Persons and entities in the British Virgin Islands must not supply arms or related assistance to Sudan, in compliance with the arms embargo.
• Persons and entities must freeze assets belonging to individuals designated by the UN Security Council under the Sudan sanctions regime.
• Persons and entities must observe the travel ban applicable to designated persons.
• Any activity otherwise prohibited under the sanctions regime that a person wishes to undertake must be licensed by the Governor under the exemption provisions of the Order.

Applies to

financial services providers, regulated entities, general public and industry practitioners in the British Virgin Islands

Deadlines

• 5 November 2014: Date the Sudan (Sanctions) (Overseas Territories) Order 2014 was ratified and extended to the Territory.