(This note is not part of the Order)
The Order amends the Libya (Restrictive Measures) (Overseas Territories) Order 2011 (as amended previously by the Libya (Restrictive Measures) (Overseas Territories) (Amendment) Order 2011) to give effect to a decision of the UN Sanctions Committee of 16th December 2011 to remove the Central Bank of Libya and the Libyan Arab Foreign Bank from the scope of the partial asset freeze imposed in UNSCR 2009 (2011), and to reflect Council Regulation (EU) No 1360/2011 adopted by the Council of the European Union on 20th December 2011 giving effect to that decision in the EU.
Article 4 changes the definitions of “designated person” and “person referred to in paragraph 15 of Security Council resolution 2009 (2011)” in article 2(1) of the principal Order, in order to remove the Central Bank of Libya and the Libyan Arab Foreign Bank from the scope of the partial asset freeze.