ISLE OF MAN: ANNUAL REPORT FOR THE TERRORISM AND OTHER CRIME (FINANCIAL RESTRICTIONS) ACT 2014

The February Order Paper for the Island’s parliament included the annual report required by section 65 of the 2014 Act detailing the exercise of relevant functions by the Isle of Man Treasury under the Act during the preceding year.  In notes that in 2019 the Council of Ministers reaffirmed a modified version of the Island’s policy on sanctions, saying that “It is the policy of the Isle of Man Government to maintain the implementation of international sanctions measures in the Isle of Man in line with such measures as have effect in the United Kingdom from time to time”.  This was done to take account of the situation created by Brexit – specifically linking Isle of Man sanctions listing and other measures and policies to those of the UK (the Island had traditionally adopted all UN, EU and UK sanctions measures).  No Directions or Freezing Orders under the 2014 Act were issued in 2019, and there are currently no funds notified to the Treasury as being blocked or frozen for the purposes of the sanctions measures concerned with terrorism or proliferation.  However, during 2019, the Island issued 76 news releases concerned with the various sanctions regimes – of which 7 involved changes to the lists of those individuals, organisations and entities designated for reasons connected to terrorism, and 17 connected to ISIL/Al-Qaida.

http://www.tynwald.org.im/business/opqp/sittings/20182021/2020-GD-0002.pdf

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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