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The Zimbabwe (Financial Sanctions) (Amendment) Regulations 2014
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- 2014 No. 383
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EXPLANATORY NOTE
(This note is not part of the Regulations)
Council Regulation (EC) No. 314/2004 (“the Council Regulation”) of 19 February 2004 concerning certain restrictive measures in respect of Zimbabwe (O.J. L 55, 24.2.2004, p.1) contains various sanctions measures imposed in respect of the Government of Zimbabwe and those connected with it. Those measures include financial sanctions which require the funds and economic resources of certain persons, entities and bodies, listed in Annex III of the Council Regulation, to be frozen. Regulations 6 to 10 of the Zimbabwe (Financial Sanctions) Regulations 2009 (“the 2009 Regulations”) provide for criminal penalties for breach of the freeze on funds and economic resources contained in the Council Regulation.
The freeze on funds and economic resources contained in the Council Regulation has been suspended in relation to certain persons, entities or bodies by Council Regulation (EU) No. 153/2014 of 17 February 2014 (O.J. L 50, 20.2.2014, p.1) (“the 2014 Regulation”). The 2014 Regulation lists those against whom the freeze is suspended in an Annex and inserts that list as a new Annex IV of the Council Regulation. Other restrictions and obligations contained in that Council Regulation continue to apply to those listed in Annex IV, however.
Regulation 3 substitutes a new regulation 3 in the 2009 Regulations so that the definition of “designated persons” in regulation 3 does not apply to regulations 6 and 7 of the 2009 Regulations.
Regulation 4 inserts a new regulation 3A into the 2009 Regulations so that those listed in Annex IV of the Council Regulation are removed from the definition of “designated persons” in the 2009 Regulations for the purposes of regulations 6 and 7 of the 2009 Regulations. The effect is to suspend regulations 6 to 7 of the 2009 Regulations, insofar as they relate to persons listed in the new Annex IV of the Council Regulation
Regulation 6 revokes the power of the Treasury to make directions designating a person where there were reasonable grounds to suspect that the person was a person listed in Annex III of the Council Regulation. It also revokes other provisions concerning directions made by the Treasury. Regulation 5 makes an amendment to the 2009 Regulations consequent upon those revocations.
Regulation 7 revokes the Zimbabwe (Financial Sanctions) (Suspension) Regulations 2013, which had implemented a previous temporary suspension of sanctions.
A list of designated persons is available on the internet at: www.gov.uk/government/publications/financial-sanctions-consolidated-list-of-targets or can be obtained from Financial Sanctions, H.M. Treasury, 1 Horse Guards Road, London SW1A 2HQ.
Further information is available from Financial Sanctions, HM Treasury, 1 Horse Guards Road, London SW1A 2HQ and on the H.M. Treasury website (www.gov.uk/government/organisations/hm-treasury).
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