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The Burma/Myanmar (Financial Restrictions) Regulations 2009

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2.—(1) A relevant institution must as soon as practicable inform the Treasury if it knows or suspects that a relevant person—

(a)is a designated person or a designated enterprise; or

(b)has committed an offence under regulation 6, 7, 9, 10, 13, 14 or 17.

(2) A relevant institution, where it informs the Treasury under sub-paragraph (1), must state—

(a)the information or other matter on which the knowledge or suspicion is based;

(b)any information it holds about the relevant person by which the person can be identified; and

(c)where the relevant person is a designated person, the nature and amount or quantity of any funds or economic resources held by the relevant institution for that person since the person first became listed in Annex II to Regulation (EC) No. 1081/2000, Annex III to Regulation (EC) No. 798/2004, Annex III to Regulation (EC) No. 817/2006 or Annex VI to the EC Regulation.

(3) A relevant institution must inform the Treasury without delay if it credits a frozen account in accordance with regulation 8(2).

(4) A relevant institution which fails to comply with a requirement in sub-paragraph (1), (2) or (3) is guilty of an offence.

(5) In this paragraph, “relevant person” means—

(a)a customer of the institution;

(b)a person who has been a customer of the institution at any time on or after 24th May 2000(1); or

(c)a person with whom the institution has had dealings in the course of its business on or after that date.

(1)

This is the date on which Council Regulation (EC) No. 1081/2000 came into force.

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