The Egypt (Restrictive Measures) (Overseas Territories) Order 2011

EXPLANATORY NOTE

(This note is not part of the Order)

This Order places restrictive measures on certain persons, entities and bodies responsible for the misappropriation of Egyptian State funds, and persons associated with them who are depriving the Egyptian people of the benefits of the sustainable development of their economy and society and undermining the development of democracy in Egypt.

The Order gives effect in the overseas territories listed in Schedule 1 to measures adopted by the European Union in Council Decision 2011/172/CFSP 21st March 2011 and implemented in Council Regulation (EU) No. 270/2011 adopted 21st March 2011 which came into force on 22nd March 2011, the date of its publication.

Article 1 is to do with the title of the Order, when it comes into force, its territorial extent and provisions to do with its application.

Article 2 contains definitions used in the Order.

Article 3 provides for publication by the Governor of a list of listed persons.

Article 4 requires the assets of a person including a listed person to be frozen and also provides for a defence.

Article 5 prohibits making funds available to or for the benefit of a listed person and also provides for a defence.

Article 6 provides exceptions to articles 4 and 5.

Article 7 creates offences for circumventing the prohibitions in articles 4 and 5.

Article 8 enables the Governor to direct that a person reasonably suspected to be a listed person may be treated as if he were such a person.

Article 9 makes provision for licences to authorise exemptions from the prohibitions in articles 4 and 5.

Article 10 requires institutions to disclose knowledge or suspicion of customers, past customers, or other persons with whom they have dealings as being listed persons, and creates offences for failure to comply with the requirements.

Article 11 creates offences in connection with applications for licences and the failure to comply with the conditions attaching to a licence and provides for a defence.

Article 12 provides for the Governor to obtain evidence or information to secure compliance with, or detect evasion of, the matters regulated by the Order.

Article 13 provides for penalties and proceeding for offences created under the Order.

Article 14 prescribes the manner in which notice may be given under the Order.

Article 15 provides for the delegation of powers by the Governor.

Article 16 sets out miscellaneous provisions to do with authorised acts.

Article 17 provides for the Order to cease to have effect, to the extent required, if the relevant Council Regulation is postponed, suspended or terminated in whole or in part.

Schedule 1 lists the territories to which the Order extends.

Schedule 2 deals with penalties and proceedings in the Sovereign Base Areas.

Schedule 3 deals with penalties for the Falkland Islands and South Georgia and the South Sandwich Islands.

Schedule 4 deals with penalties for St Helena, Ascension and Tristan da Cunha and proceedings against an officer of a body corporate.

Schedule 5 provides for the Governor to obtain evidence or information to secure compliance with the matters regulated by the Order.

An impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.