The Iraq (United Nations) (Sequestration of Assets) (Guernsey) Order 1993

Restitution

20.—(1) If the Secretary General at any time pursuant to the resolution remits an amount representing the amount of any payment into the escrow account under article 15 or 16, together with any interest which may be determined to be applicable, to the Government of the United Kingdom, the Secretary of State or HM Treasury shall transfer the amount to the Attorney General who shall take such measures as may be necessary to arrange for the amount to be transferred forthwith to any relevant institution by which, or to any person by whom, an amount was remitted to the escrow account to replace any such amount.

(2) The Attorney General may apportion any amount remitted by the Secretary General as described in paragraph (1) above which does not represent the total of any payments into the escrow account under article 15 or 16 as he considers appropriate between relevant institutions and other persons by whom amounts have been remitted.

(3) The Attorney General may pay to any person described in paragraph (4) below any amount remitted by the Secretary General as described in paragraph (1) above which he considers appropriate to transfer to a relevant institution or other person by which or by whom an amount was remitted to the escrow account, where the relevant institution or other person—

(i) has gone into liquidation under the Companies Laws; or

(ii) is the subject of an order under the Companies Laws appointing a provisional liquidator; or

(iii) is the subject of a declaration of insolvency made by the Royal Court; or

(iv) has otherwise ceased to exist; or

(v) is incapable, by reason of mental incapacity, of managing and administering his property and affairs; or

(vi) has died; or

(vii) has ceased to exercise the functions by virtue of which he or it held the funds subject to a direction under article 15(2) or 16(2); or

(viii) cannot be traced.

(4) Where paragraph (3) above applies, the Attorney General may pay any relevant amount to a person who appears to him to be—

(a) the person responsible for administering the assets and liabilities of the relevant institution or person; or

(b) the person to whom probate or letters of administration have been granted by the Ecclesiastical Court; or

(c) a person entitled to take out probate of the will of a deceased person or letters of administration to his estate; or

(d) the successor of the relevant institution or person; or

(e) the person appointed to act on behalf of the person from whom an amount was transferred pursuant to a direction under article 15(2) or 16(2).

(5) Where the Attorney General decides that there is no person of a description in paragraph (4) above he shall deposit the relevant amount including any interest in an interest-bearing account at the Bank and may release that amount or any part of it together with any interest accruing from the date of deposit with the Bank to any Iraqi person or any other person who establishes to the satisfaction of the Attorney General that he is entitled to receive it and the receipt of such a person shall be a valid discharge to the Attorney General for the amount paid.

(6) Where any amounts are paid to a relevant institution or to any other person by the Secretary General pursuant to the resolution, or are so paid by the Attorney General under paragraph (1), (4) or (5) above, they shall be treated for all purposes as subject to any rights, liabilities and claims subsisting at the date of the transfer under article 15 or 16.

(7) An amount transferred under this article to a relevant institution or to any person shall not be subject to interest in respect of any period between the date of the transfer under article 15 or 16 and—

(a) the date of the transfer under paragraph (1) above to the relevant institution by which, or to the person by whom, an amount was remitted to the escrow account; or

(b) the date of any payment under paragraph (4) above; or

(c) the date on which an amount is deposited by the Attorney General in an interest-bearing account at the Bank under paragraph (5) above following a decision that there is no person of a description in paragraph (4) above.