On 5 June 2015, the following Orders were made and came into operation.
The European Union (Libya Sanctions)(Application)(Amendment)(No.2) Order [SD 2015/0215] applied in Island law Council Regulation (EU) No 2015/813 (“the applied Libyan Regulation”). The applied Libyan Regulation created a new Annex VI to Council Regulation 204/2011 with the Libyan Investment Authority and the Libyan African Investment Portfolio being moved into this new Annex. The amendments provide that all funds and economic resources belonging to, or owned, held or controlled by these entities on 16 September 2011 and were located outside Libya on that date should be frozen. However, there was no prohibition on making funds available to either entity.
The applied Libyan Regulation also replaced Article 6 of Council Regulation 204/2011 as a consequence.
The European Union (Syria Sanctions)(Amendment) Order 2015 [SD 2015/0217] applied in Island Law Council Regulation (EU) No 2015/827 (“the applied Syrian Regulation”).
The applied Syrian Regulation amended the previous Council Regulation 36/2012 to bring the prohibition on the trade in cultural property and other items illegally removed from Syria into line with the corresponding prohibition under UN Security Council Regulation 2199 (2015). The amended prohibition applied to that illegally removed from Syria since 15 March 2011 (and not 9 May 2011, as was originally provided for by Regulation 36/2012).
At the same time, regulations made under section 2B and 2C of the European Communities (Isle of Man) Act 1973 came into operation, providing for the implementation of the relevant provisions of the Council Regulation applied by the Orders.
For more information see the Sanctions Export Control pages on the Isle of Man Government website, or contact Customs and Excise.
