(This note is not part of the Regulations)
These Regulations are made under the Sanctions and Anti-Money Laundering Act 2018 (c.13) to establish a sanctions regime in relation to the Republic of Guinea-Bissau for the purpose of encouraging the abandonment of actions that undermine the peace, security or stability of the Republic of Guinea-Bissau. Following the UK's withdrawal from the European Union, these Regulations replace the EU sanctions regime in relation to the Republic of Guinea-Bissau, implemented via an EU Council Decision and Regulation.
The Regulations confer a power on the Secretary of State to designate persons who are, or have been, involved in certain activities. Designated persons may be excluded from the United Kingdom and may be made subject to financial sanctions, including having their funds or economic resources frozen.
The Regulations provide for certain exceptions to this sanctions regime, in particular in relation to financial sanctions (for example to allow for frozen accounts to be credited with interest or other earnings) and also acts done for the purpose of national security or the prevention of serious crime. The Regulations also confer powers on the Treasury to issue licenses in respect of activities that would otherwise be prohibited under the financial sanctions imposed by these Regulations. Schedule 2 to these Regulations sets out the purposes pursuant to which the Treasury will issue such licences.
The Regulations make it a criminal offence to contravene, or circumvent, any of the prohibitions in these Regulations and prescribe the mode of trial and penalties that apply to such offences. The Regulations prescribe powers for the provision and sharing of information to enable the effective implementation and enforcement of the sanctions regime.
Council Regulation (EU) No 337/2012 concerning restrictive measures directed against certain persons, entities and bodies threatening the peace, security or stability of the Republic of Guinea-Bissau is revoked by these Regulations, as are the Guinea-Bissau (Asset-Freezing) Regulations 2012 (S.I. 2012/1301).
An Impact Assessment has not been produced for these Regulations, as the instrument is intended to ensure existing sanctions remain in place following the United Kingdom's withdrawal from the European Union. An impact assessment was, however, produced for the Sanctions and Anti-Money Laundering Act 2018 and can be found at:
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/653271/Sanctions_and_Anti-Money_Laundering_Bill_Impact_Assessment_18102017.pdf.