Improving the way international sanctions are implemented in the Isle of Man is the subject of a public consultation, which is launched today (Friday 16 December) by the Customs and Excise Division of the Treasury.
Views are being sought on the draft Sanctions Bill 2022 that is designed to address limitations with the legislative methods currently being used.
The aims of the Bill are to:
- provide a modern and flexible legislative framework to be able to implement United Kingdom sanctions measures in a timely manner
- continue to meet international obligations concerned with preventing money laundering, terrorist financing and nuclear proliferation financing
- make sanctions legislation easier to locate and follow
- introduce measures to deal with the enforcement of sanctions-related offences more effectively
Isle of Man Government policy is to implement international sanctions measures in line with those in force in the United Kingdom. The Isle of Man is also obliged, under the UK’s membership of the United Nations, to implement sanctions imposed by UN Security Council Resolutions — particularly in relation to preventing terrorist activity and financing nuclear weapons.
The consultation document is available to view on the Government website and may also be completed electronically from consult.gov.im
Alternatively, written comments can be emailed to firstname.lastname@example.org or by post to Customs and Excise Division, PO Box 6, North Quay, Douglas, IM99 1AG.
The consultation will run for 6 weeks and conclude on 27 January 2023.
The process is aligned with the aims of the Island Plan in terms of meeting global standards and enhancing the Island’s reputation as an internationally responsible jurisdiction.