Statutory Instruments
2011 No. 2390
Criminal Law
The Libya (Asset-Freezing) (Amendment) Regulations 2011
Made
at 10.30 a.m. on 29th September 2011
Laid before Parliament
at 2.00 p.m. on 29th September 2011
Coming into force
at 3.00 p.m. on 29th September 2011
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:
Citation and commencement
1. These Regulations may be cited as the Libya (Asset-Freezing) (Amendment) Regulations 2011 and come into force at 3.00 p.m. on 29th September 2011.
Amendment of the Libya (Asset-Freezing) Regulations 2011
2. —(1) The Libya (Asset-Freezing) Regulations 2011( 3 ) are amended as follows.
(2) In regulation 3 (freezing of funds and economic resources)—
(a) after paragraph (1), insert—
“ (1A) The prohibition in paragraph (1) also applies to funds or economic resources which—
(a) on 16th September 2011 belonged to, or were owned, held or controlled by—
(i) Central Bank of Libya;
(ii) Libyan Arab Foreign Bank (also known as Libyan Foreign Bank);
(iii) Libyan Investment Authority; or
(iv) Libyan Africa Investment Portfolio;
(b) were located outside Libya on that date; and
(c) were subject to the prohibition in paragraph (1) immediately before the coming into force of Council Regulation ( EU ) No. 965/2011 of 28 September 2011 ( 4 ) . ” ; and
(b) for paragraph (3), substitute—
“ (3) Paragraphs (1) and (1A) are subject to regulation 9. ” .
(3) In paragraph 6 (application of provisions) of the Schedule, after sub-paragraph (6) insert—
“ (7) In this Schedule, a reference to a designated person includes a reference to an entity mentioned in regulation 3(1A)(a). ” .
Jeremy Wright
Angela Watkinson
Two of the Lords Commissioners of
Her Majesty’s Treasury
At 10.30 a.m. on 29th September 2011
European Communities (Designation) (No.3) Order 2010 ( S.I. 2010/1834 ).
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.
Council Regulation (EU) No. 965/2011 of 28 September 2011 amending Regulation (EU) No. 204/2011 concerning restrictive measures in view of the situation in Libya (OJ L No. 253 29.9.2011, p.8), which came into force on 29th September 2011.