Statutory Instruments
Criminal Law
Made
25th July 2013
Laid before Parliament
26th July 2013
Coming into force
16th August 2013
The Treasury are designated(1) for the purposes of section 2(2) of the European Communities Act 1972(2) in relation to restrictive measures against persons or bodies listed by an international organisation.
The Treasury, in exercise of the powers conferred by section 2(2) of the European Communities Act 1972, make the following Regulations:
1. These Regulations may be cited as the Syria (European Union Financial Sanctions) (Amendment No. 2) Regulations 2013 and come into force on 16th August 2013.
2.—(1) The Syria (European Union Financial Sanctions) Regulations 2012(3) are amended as follows.
(2) In regulation 12, after paragraph (2) insert—
“(3) The prohibitions in paragraphs (1)(a) and (2) do not apply to anything done under the authority of a licence granted by the Treasury.
(4) Paragraphs (2) to (6) of regulation 10 apply in respect of any licence granted under paragraph (3).”.
David Evennett
Stephen Crabb
Two of the Lords Commissioners of Her Majesty’s Treasury
25th July 2013
(This note is not part of the Regulations)
These Regulations amend the Syria (European Union Financial Sanctions) Regulations 2012 (S.I. 2012/129) (“the 2012 Regulations”). The 2012 Regulations make provision relating to the enforcement of Council Regulation (EU) No. 36/2012 of 18 January 2012 concerning restrictive measures in view of the situation in Syria (OJ L 16, 19.01.2012, p.1) (“the first Council Regulation”). The measures include the freezing of funds and economic resources of designated persons and prohibitions on funds and economic resources being made available to them or for their benefit.
There are prohibitions in Article 25 of the first Council Regulation on credit institutions opening a new bank account with any Syrian credit or financial institution, opening a new representative office in Syria, or establishing a new branch or subsidiary in Syria. These prohibitions are reflected in regulation 12(1)(a) and (2) of the 2012 Regulations. Council Regulation (EU) No. 697/2013 of 22 July 2013 (OJ L 198, 23.07.2013, p.28) (the “amending Council Regulation”) amends the first Council Regulation by inserting Article 25a which enables derogations to these prohibitions to be authorised by Member State competent authorities in certain circumstances. These Regulations amend the 2012 Regulations by enabling derogations to the prohibitions to be licensed by the Treasury.
An impact assessment has not been produced for this instrument as no impact on the costs of business or the voluntary sector is foreseen. Further information is available from Financial Sanctions, HM Treasury, 1 Horse Guards Road, London SW1A 2HQ and on the HM Treasury website ( www.gov.uk/government/organisations/hm-treasury).
1972 c.68. Section 2(2) was amended by section 27(1)(a) of the Legislative and Regulatory Reform Act 2006 (c.51) and the European Union (Amendment) Act 2008 (c.7), Schedule, Part 1.
S.I. 2012/129, as amended by S.I. 2012/639, S.I. 2012/2524 and S.I. 2013/877.