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Sanctions and Asset-Freezing (Amendment) (Jersey) Law 201-

A LAW to amend the Sanctions and Asset-Freezing (Jersey) Law 2019

Adopted by the States                                                                        16th July 2019

Sanctioned by Order of Her Majesty in Council           [date to be inserted]

Registered by the Royal Court                                            [date to be inserted]

Coming into force                                                                    [date to be inserted]

THE STATES, subject to the sanction of Her Most Excellent Majesty in Council, have adopted the following Law –

1        Amendment of Article 3 (implementation of UK and EU sanctions provisions through Orders) of Sanctions and Asset-Freezing (Jersey) Law 2019

(1)     In Article 3(4)(c) of the Sanctions and Asset-Freezing (Jersey) Law 2019[1], for “a sub-paragraph of Article 28(2)” there is substituted “paragraph (6)”.

(2)     After Article 3(5) of the Sanctions and Asset-Freezing (Jersey) Law 2019[2], there is inserted –

“(6)    The purposes mentioned in paragraph (4)(c) are –

(a)     freezing funds or economic resources owned, held or controlled by the person against whom the prohibition is imposed;

(b)     preventing funds or economic resources being made available to, or for the benefit of that person;

(c)     prohibiting access to financial markets or financial services by, or for the benefit of that person.”.

2        Citation and commencement

This Law may be cited as the Sanctions and Asset-Freezing (Amendment) (Jersey) Law 201- and comes into force on the day after its registration.

 




[1] L.2/2019

[2] L.2/2019


Page Last Updated: 09 Aug 2019