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

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FUNDS AND ECONOMIC RESOURCES

Freezing funds and economic resources

10.  (1)  A person (including a designated person) shall not deal with funds or economic resources owned or controlled, directly or indirectly, by a designated person or persons acting on their behalf or at their direction or by persons controlled by them, subject to article 12, unless they do so under the authority of a licence granted under article 15.

(2) A person who contravenes the prohibition in paragraph (1) shall be guilty of an offence under this Order.

(3) In proceedings for an offence under this article, it is a defence for a person to show that they did not know and had no reasonable cause to suspect that they were dealing with funds or economic resources owned or controlled, directly or indirectly, by a designated person or persons acting on their behalf or at their direction or by persons controlled by them.

(4) In this article, “to deal with” means—

(a)in respect of funds—

(i)to use, alter, move, allow access to or transfer;

(ii)to deal with in any other way that would result in any change in volume, amount, location, ownership, possession, character or destination; or

(iii)to make any other change that would enable use, including portfolio management; and

(b)in respect of economic resources, to exchange or use to obtain funds, goods or services in any way, including (but not limited to) by selling, hiring or mortgaging the resources.

Making funds and economic resources available

11.  (1)  A person (including a designated person) shall not make funds or economic resources available, directly or indirectly, to or for the benefit of a designated person, subject to article 12, unless they do so under the authority of a licence granted under article 15.

(2) A person who contravenes the prohibition in paragraph (1) shall be guilty of an offence under this Order.

(3) In proceedings for an offence under this article, it is a defence for a person to show that they did not know and had no reasonable cause to suspect that they were making funds or economic resources available, directly or indirectly, to or for the benefit of a designated person.

Exceptions

12.  (1)  A person is not guilty of an offence under articles 10 or 11 if they credit a frozen account with—

(a)interest or other earnings due on the account; or

(b)payments due under contracts, agreements or obligations that were concluded or arose prior to the date on which an account holder became a designated person.

(2) It is not an offence under article 11 for a person to credit a frozen account which is in receipt of funds transferred by a third party to a frozen account.

(3) In this article “third party” means a person other than the account holder or the person with which the account is maintained.

Circumventing prohibitions etc.

13.  A person shall be guilty of an offence under this Order if they participate, knowingly and intentionally, in activities the object or effect of which is, directly or indirectly, to—

(a)circumvent a prohibition in article 10(1) or 11(1); or

(b)enable or facilitate the commission of an offence under article 10(2) or 11(2).

Governor’s powers to give directions

14.  (1)  Where the Governor has reasonable grounds for suspecting that a person is a designated person, the Governor may give a direction that such person is to be treated as a designated person for the purposes of this Order.

(2) The Governor may vary or revoke such a direction at any time.

(3) A direction under paragraph (1) has effect—

(a)for such a period as the Governor may specify in the direction, or

(b)until the direction is revoked or set aside.

(4) Where the Governor gives a direction the Governor shall—

(a)take such steps as the Governor considers appropriate to publicise the direction;

(b)give written notice to the person identified in the direction; and

(c)if the direction is varied or revoked—

(i)give written notice of the variation or revocation to the person identified in the direction; and

(ii)take such further steps as the Governor considers appropriate to publicise the variation or revocation.

(5) The Supreme Court may set aside a direction on the application of—

(a)the person identified in the direction, or

(b)any other person affected by the direction.

(6) A person who makes an application under paragraph (5) shall give a copy of the application and any witness statement or affidavit in support to the Governor no later than seven days before the date fixed for the hearing by the Supreme Court of the application.

Licences

15.  (1)  The Governor may grant a licence to disapply the prohibition in articles 10(1) or 11(1) in relation to the acts specified in the licence.

(2) A licence may relate to—

(a)basic expenses of designated persons and their dependent family members, including payments for foodstuffs, rent or mortgage, medicines, medical treatment, taxes, insurance premiums and public utility charges after notification to the Sanctions Committee and no objection having been made with 5 working days of such notification;

(b)payment of reasonable professional fees and reimbursement of incurred expenses associated with the provision of legal services after notification to the Sanctions Committee and no objection having been made within 5 working days of such notification;

(c)payment of fees or service charges for the routine holding or maintenance of frozen funds, other financial assets and economic resources after notification to the Sanctions Committee and no objection having been made within 5 working days of such notification;

(d)payment of necessary extraordinary expenses as determined by the Governor and approved by the Sanctions Committee;

(e)satisfaction of a judicial, administrative or arbitral lien or judgement provided that the lien or judgement was entered into prior to 26th February 2011(1) and is not for the benefit of a designated person and has been notified to the Sanctions Committee;

(f)payment by a designated person of sums due under a contract entered into prior to the date on which the person was so designated, provided that the payment is not directly or indirectly received by another designated person and the Sanctions Committee has been notified of the intention to make or receive such payments or has been notified 10 working days in advance of the intention to authorise the unfreezing of funds, other financial assets or economic resources for the payment of the sums due.

(3) A licence may be—

(a)general or granted to a category of persons or to a particular person;

(b)subject to conditions; or

(c)of indefinite duration or subject to an expiry date.

(4) The Governor may vary or revoke a licence at any time.

(5) The Governor, where he grants, varies or revokes a licence, shall—

(a)in the case of a licence granted to a particular person, give written notice of the licence, variation or revocation to that person, and

(b)in the case of a general licence, or of a licence granted to a category of persons, take such steps as the Governor considers appropriate to publicise the licence, variation or revocation.

(1)

This is the date on which the Security Council resolution 1970 (2011) came into force.

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