Part 8

Financial sanctions

Power to extend to Bailiwick of Guernsey etc

Extension to the Bailiwick of Guernsey, Isle of Man and BOTs
156
1
Her Majesty may by Order in Council provide for regulations under section 152(1) (whether made before or after the making of the Order in Council) to extend with or without modifications to—
a
the Bailiwick of Guernsey;
b
the Isle of Man;
c
any of the British overseas territories.
2
Her Majesty may by Order in Council provide for section 143, regulations under section 154 (whether made before or after the making of the Order in Council) and section 155 to extend with or without modifications to—
a
the Bailiwick of Guernsey;
b
the Isle of Man;
c
any of the British overseas territories.
3
The power conferred by subsection (1) or (2), so far as relating to regulations, includes power to provide for the regulations as amended from time to time to extend as mentioned in that subsection.
4
The modifications that may be specified in an Order in Council under subsection (1) include a modification of any provision included in the regulations about the time at which the regulations are to cease to have effect.
5
A modification included in an Order in Council by virtue of subsection (4)—
a
may have the effect that the regulations (as extended by the Order in Council) continue to have effect after the time when the regulations have ceased to have effect under the law of England and Wales, Scotland and Northern Ireland, but
b
must secure that the regulations (as so extended) cease to have effect on a day that falls no later than 120 days after the day on which the relevant UN financial sanctions Resolution is adopted.
6
In subsection (5), “the relevant UN financial sanctions Resolution” means the UN financial sanctions Resolution that is being implemented by the regulations.