The Zimbabwe (Sanctions) (Overseas Territories) (Amendment and Revocation) - Advisory Warning No. 16 of 2015 (2015-12-16)

Summary

This is an Advisory Warning from the BVI Financial Services Commission notifying the public that The Zimbabwe (Sanctions) (Overseas Territories) (Amendment and Revocation) Order 2015 (U.K.S.I. 2015 No. 826) has been extended to the British Virgin Islands. The Order amends the Zimbabwe (Sanctions) (Overseas Territories) Order 2012, which implements EU sanctions against Zimbabwe, by giving effect to an EU-wide suspension of financial sanctions against most designated persons.

• Definition amended: Article 2(2) amends the definition of designated person in the 2012 principal Order to exclude any person, body or entity whose financial sanctions are suspended, as listed in Annex IV to Council Regulation (EC) No 314/2004.
• Minor corrections: Article 2(3) makes minor corrections to the principal Order.
• Background: The suspension originates from EU Council Decision 2013/160/CFSP, extended by Council Decision 2014/98/CFSP and continued by Council Decision 2015/277/CFSP.

The notice is informational, directing readers to the relevant UK legislation and the consolidated list of financial sanctions targets, and does not itself set out new filing or reporting obligations for licensees beyond general sanctions compliance awareness.

Applies to

financial services businesses in and from within the BVI