The Office of Financial Sanctions Implementation (OFSI), part of HM Treasury, has designated one entity (Hizballah) and removed the designation for another entity (Hizballah Military Wing), which remains subject to other restrictive measures.
Addition
Entity
Date of Final Designation 16 January 2020
HIZBALLAH
a.k.a: (1) Hezballah (2) Hezbollah (3) Hisbollah (4) Hizb Allah (5) Hizbollah (6) Hizbu’llah (7) Hizbullah (8) Hezbullah (9) Lebanese Hizballah
Other Information: UK listing only. Based in Lebanon. Hizballah itself has publicly denied a distinction between its military and political wings. The group in its entirety is assessed to be concerned in terrorism and was proscribed as a terrorist organisation in the UK in March 2019. This listing includes the Military Wing, the Jihad Council and all units reporting to it, including the External Security Organisation.
Listed on: 16/01/2020 Last Updated: 17/01/2020 Group ID: 13804
Under the terms of section 24(1) of the Terrorism and Other Crime (Financial Restrictions) Act 2014 (the 2014 Act), where HM Treasury in the UK enacts a measure that is the equivalent of a freezing order or designation made under Division 2 of Part 2 of the 2014 Act, then that measure has effect in the Isle of Man as if it were a freezing order or designation made under the 2014 Act.
Therefore the Treasury requires institutions and businesses in the Island to check whether they hold any funds belonging to the entity freeze any such funds, and refrain from dealing in such funds or making them available to any person (unless permitted to do so under a licence granted by the Treasury).
Anyone finding any funds belonging to the entity must report their findings to the FIU together with any additional information that would facilitate compliance with the requirements of the 2014 Act. Any person with any information concerning any frozen assets must provide the FIU with any information that it may request. Where a relevant institution has already reported details of accounts, other funds or economic resources held frozen for the designated entity they are not required to report these details again.
Part 4 of the 2014 Act contains details of how any person affected by a designation may apply to the High Court to have the decision of the designation set aside.
The following entry has been amended on the consolidated list and is no longer designated under the Terrorist Asset-Freezing etc. Act 2010 (TAFA). However, HIZBALLAH MILITARY WING continues to be subject to the financial sanctions imposed by Council Regulation (EC) No 2580/2001 and is therefore still subject to an asset freeze.
Amendment
HIZBALLAH MILITARY WING
a.k.a: (1) Hezballah Military Wing (2) Hezbollah Military Wing (3) Hisbollah Military Wing (4) Hizb Allah Military Wing (5) Hizbollah Military Wing (6) Hizbu’llah Military Wing (7) Hizbullah Military Wing.
Other Information: [Both UK listing and] EU listing only. Previously listed under the Terrorist Asset-Freezing etc. Act 2010 (TAFA). This listing includes the Jihad Council and all units reporting to it, including the External Security Organisation.
Listed on: 02/11/2001 Last Updated: [17/01/2019] 17/01/2020 Group ID: 7177
Further information is contained in the Terrorism and Financing of Terrorism Notice or can be obtained by contacting Customs and Excise.
