Sanctions and Asset-Freezing (Amendment) (Jersey) Law 2019

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Sanctions and Asset-Freezing (Amendment) (Jersey) Law 2019

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                  8th October 2019

Registered by the Royal Court                                                 18th October 2019

Coming into force                                                                        19th October 2019

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 2019 and comes into force on the day after its registration.

w.j.c. millow

Assistant Greffier of the States

 




[1] L.2/2019

[2] L.2/2019


Page Last Updated: 07 Jan 2020