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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Burma/Myanmar (Financial Restrictions) (Suspension) Regulations 2012 No. 1302 URL: http://www.bailii.org/uk/legis/num_reg/2012/uksi_20121302_en_1.html |
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Statutory Instruments
Criminal Law
Made
16th May 2012
Laid before Parliament
16th May 2012
Coming into force
17th May 2012
The Treasury are designated(1) for the purposes of section 2(2) of the European Communities Act 1972(2) in relation to restrictive measures against persons or bodies listed by an international organisation.
The Treasury make the following Regulations in exercise of the powers conferred by section 2(2) of the European Communities Act 1972.
1. These Regulations may be cited as the Burma/Myanmar (Financial Restrictions) (Suspension) Regulations 2012 and come into force on 17th May 2012.
2. Parts 3 and 5 of the Burma/Myanmar (Financial Restrictions) Regulations 2009(3) have no effect in relation to any act undertaken or omitted on or after 17th May 2012 and before 1st May 2013.
Angela Watkinson
Jeremy Wright
Two of the Lords Commissioners of Her Majesty's Treasury
16th May 2012
(This note is not part of the Regulations)
Council Regulation (EC) No. 194/2008 ("the 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 ("the 2009 Regulations") provide for criminal penalties for breach of the financial sanctions provisions of the Council Regulation.
Various sanctions measures contained in the Council Regulation, including the financial sanctions measures, have been 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. These Regulations accordingly suspend Parts 3 and 5 of the 2009 Regulations until 30th April 2013.
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 the Asset Freezing Unit, HM Treasury, 1 Horse Guards Road, London SW1A 2HQ and on the HM Treasury website ( www.hm-treasury.gov.uk ).
1972 c. 68. Section 2(2) was amended by section 27(1)(a) of the Legislative and Regulatory Reform Act 2006 (c.51) and the European Union (Amendment) Act 2008 (c.7), Schedule, Part 1.
