(This note is not part of the Regulations)
Council Regulation (EC) No. 194/2008 (“the first Council Regulation”) of 25 February 2008 renewing and strengthening the restrictive measures in respect of Burma/Myanmar and repealing Regulation (EC) No. 817/2006 (O.J. L 66, 10.3.2008, p.1) contains various sanctions measures imposed in respect of Burma/Myanmar. Those measures include financial sanctions which require the funds and economic resources of certain persons, entities and bodies to be frozen and which impose restrictions on the financing of certain enterprises. Parts 3 and 5 of the Burma/Myanmar (Financial Restrictions) Regulations 2009 (S.I. 2009/1495, “the 2009 Regulations”) provide for criminal penalties for breach of the financial sanctions provisions of the first Council Regulation.
Various sanctions measures contained in the first Council Regulation, including the financial sanctions measures, were suspended until 30th April 2013 by Council Regulation (EU) No. 409/2012 of 14 May 2012 (O.J. No. L 126, 15.5.2012, p.1) with effect from 16th May 2012. The Burma/Myanmar (Financial Restrictions) (Suspension) Regulations 2012 (S.I. 2012/1302, “the 2012 Regulations”) accordingly suspended Parts 3 and 5 of the 2009 Regulations until 30th April 2013.
Council Regulation (EU) No. 401/2013 of 2 May 2013 revokes all of the financial sanctions measures contained in the first Council Regulation. These Regulations accordingly revoke the 2009 Regulations and the 2012 Regulations.
An impact assessment has not been produced for this instrument as no impact on the costs of business or the voluntary sector is foreseen. Further information is available from Financial Sanctions, HM Treasury, 1 Horse Guards Road, London SW1A 2HQ and on the HM Treasury website ( www.hm-treasury.gov.uk).
