The Libya (Sanctions) (Overseas Territories) (Amendment) Order 2023 was recently published on legislation.gov.uk, the official website of the UK government for publicizing legal documents. The Order modifies a corresponding order of 2021, namely the Libya (Sanctions) (Overseas Territories) Order 2021 (SI 2021/37) which extends – with some minor modifications – the Libya (Sanctions) (EU Exit) Regulations 2020 (SI 2020/1665) and the Sanctions and Anti-Money Laundering Act 2018 to all British overseas territories except Bermuda and Gibraltar (which implement sanctions on their own).
Specifically, the now issued order simply corrects a previous omission as regards the applicability of a license. In detail, the order amends paragraph 26 of Schedule 2 of the 2021 order, clarifying that the license grounds applicable to the Libyan Investment Authority and Libyan Africa Investment Portfolio encompass the fulfillment of previous obligations as outlined in Part 2 of Schedule 4 of the Libya (Sanctions) (EU Exit) Regulations 2020.