The Libya (Sanctions) (Overseas Territories) (Amendment) Order 2023

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.