The Iraq (United Nations Sanctions) (Overseas Territories) Order 2003

Freezing funds

3.  For article 4 of the Order, substitute—

“4.— (1) Where—

(a) a person is identified by the Sanctions Committee in accordance with paragraph 19 of the 2003 resolution as an individual or entity falling within paragraph 23 of that resolution; or

(b) the Governor has reasonable grounds for suspecting that a person (other than a person referred to in paragraph (1)(a)) is or may be—

(i) a senior official;

(ii) an immediate family member of a senior official; or

(iii) an entity (whether incorporated or constituted) that—

(aa) immediately before 20th March 2003 was owned or controlled by the government of the Republic of Iraq; or

(bb) is owned or controlled by a person referred to in paragraph (1)(a) or (1)(b)(i) or (ii),

the Governor may by notice direct that funds held by, for, or on behalf of that person are not to be made available to any person.

(2) A notice under paragraph (1) must specify either—

(a) the period for which the direction is to have effect; or

(b) that the direction is to have effect until it is revoked by notice under paragraph (3).

(3) The Governor may by notice revoke a direction given under paragraph (1) at any time.

(4) The Governor must publish a notice issued under paragraph (1) or (3) in the way appearing to him to be best calculated to bring it to the attention of the public.”