Reason(s) for Decision: In 2011 the Council of the European Union introduced Regulation (EU) 359/2011 concerning restrictive measures directed against certain persons, entities and bodies in view of the situation in Iran. These measures target persons complicit in or responsible for directing or implementing grave human rights violations in the repression of peaceful demonstrators, journalists, human rights defenders, students or other persons who speak up in defence of their legitimate rights, including freedom of expression. In addition, they are aimed at persons complicit in or responsible for directing or implementing grave violations of the right to due process, torture, cruel, inhuman and degrading treatment, or the indiscriminate, excessive and increasing application of the death penalty, including public executions, stoning, hangings or executions of juvenile offenders in contravention of Iran’s international human rights obligations. The Council of the European Union subsequently introduced Regulation (EU) No 267/2012 concerning restrictive measures against Iran. These measures include export and import restrictions in connection with Iran’s nuclear proliferation, military or ballistic missile programmes; prohibition of financing and technical assistance and supply of dual-use goods and technology, in particular relating to the petrochemical industry; restrictions on financing certain enterprises including the exploration, production and refining of crude oil; and the freezing of funds of designated persons and entities involved in or associated with proliferation-sensitive nuclear activities. Further measures include restrictions on the transfer of funds to or from Iranian financial institutions; requirements for notification or authorisation of transactions involving Iranian persons and restrictions on investment in Iran. Restrictions are also applicable in respect of transport by ship or cargo aircraft, ships bunkering and supplies. The EU Legislation (Sanctions – Iran) (Jersey) Order 2015, which replaces the Community Provisions (Restrictive Measures – Iran) (Jersey) Order 2012, will re-enact and update the effect in Jersey of the EU restrictive measures, both Regulation (EU) 359/2011 and Regulation (EU) 267/2012, in accordance with the common external relations policy of the Council of Ministers. Any future amendments to the Annexes to these EU Regulations, or changes to their effect in the EU as a result of any judgement of the European Court, will be implemented in Jersey by the use of ambulatory reference to those Annexes, without the need for any amendment to the Jersey Order. The proposed Order will also apply to itself the EU Legislation (Sanctions) (General Provisions) (Jersey) Order 2014, which contains standard provisions relating to sanctions. This Order must therefore be read in conjunction with that General Provisions Order. In particular, with regard to Article 7 (‘Application: registrable trust company business’) of the General Provisions Order and in pursuance of Article 3 (‘Implementation of EU provisions: financial services’) of the European Union Legislation (Implementation) (Jersey) Law 2014, the Minister considers it expedient, in the interests of Jersey and for the better implementation of the EU Regulation in Jersey, to extend the relevant obligations, prohibitions and exceptions to persons carrying on registrable trust company business. |