and Weapons Development (Directions) (Iran) (Jersey) Order 2013
Made 18th January 2013
Coming into force 19th
THE CHIEF MINISTER, in pursuance of Article 6 of the Money Laundering and Weapons
Development (Directions) (Jersey) Law 2012, following the advice of the
Financial Action Task Force that measures should be taken in relation to Iran
because of the risk of money laundering being carried on there and the Chief
Minister having reason to believe that activity in Iran facilitating the
development or production of nuclear weapons poses a significant risk to the
interests of Jersey, and after consultation with the Jersey Financial Services
Commission, orders as follows –
This direction is given to all relevant persons within the
definition “relevant person” in Article 1 of the Money
Laundering and Weapons Development (Directions) (Jersey) Law 2012.
direction in Article 3 is given in relation to any of the following
persons (referred to in that Article as a “designated
credit institution incorporated in Iran, including any of its branches wherever
Central Bank of Iran, also known as Bank Markazi Jomhouri Islami Iran.
the purposes of paragraph (1) –
“branch” means a
place of business of a person, other than its head office, which has no legal
personality separate from that person, and which carries out directly all or
some of the transactions inherent in that person’s business;
means an undertaking the business of which is to receive deposits or other
repayable funds from the public and to grant credits for its own account.
to cease business
A relevant person must not enter into, or continue to participate
in, any transaction or business relationship with a designated person.
Order may be cited as the Money Laundering and Weapons Development (Directions)
(Iran) (Jersey) Order 2013.
Order comes into force on 19th January 2013 and, unless earlier revoked, ceases
to have effect at the end of the period of one year beginning with the day on
which it is made.
senator i.j. gorst