Search Legislation

The Serbia and Montenegro (United Nations Sanctions) (Channel Islands) Order 1992

What Version

 Help about what version
  • Latest available (Revised)
  • Original (As made)

Status:

This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

Bonds and indemnities

9.—(1) Except under the authority of a licence granted under this article by the relevant authority, no person shall—

(a)make any payment to, or to the order of, any person connected with Serbia or Montenegro under or in respect of a bond to which this article applies; or

(b)do any act for the purpose of obtaining payment, or make any payment, in respect of any right to idemnity in respect of any bond to which this article applies, where payment under the bond is, or would if payment were to be made by a person referred to in article 11(1) below be, unlawful by virtue of sub-paragraph (a) above.

(2) A bond to which this article applies is a bond given in respect of a contract the performance of which is unlawful, wholly or in part, by virtue of this Order or the Export of Goods (Control) (Serbia and Montenegro Sanctions) Order 1992.

(3) In this article—

(a)“bond” means an agreement under which a person ( “the obligor”) agrees that, if called upon to do so, or if a third party fails to fulfil contractual obligations owed to another, the obligor will make payment to or to the order of the other party to the agreement; and

(b)“make any payment” means make payment by any method, including but not restricted to the grant, or any agreement to the exercise, of any right to set off, accord and satisfaction and adjustment of any account, or any similar means.

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources