regulation

United Nations Sanctions (Central African Republic) Regulation 2020 (Amendment) Regulation 2023 gazetted

ID 26321

On December 15, 2023, the Hong Kong government published a press release to announce the gazettal of the United Nations Sanctions (Central African Republic) Regulation 2020 (Amendment) Regulation 2023 which came into force on same day. The regulation amends the United Nations Sanctions (Central African Republic) Regulation 2020 „to give effect to certain decisions relating to sanctions in the United Nations Security Council Resolutions 2664 and 2693 in respect of the Central African Republic“. Specifically, the regulation
– includes new provisions in the licensing section (licence for making available or dealing with economic assets, section 11) to permit the making available of funds or the release of frozen funds for humanitarian purposes under the condition that such aid is provided by noted organizations (UN, UN-related organizations, or international organizations) (Resolution 2664); and
extends the application date of the sanction measures up to July 31, 2024 (Resolution 2693).
The new regulation also clarifies in section 9 and section 10 also pertaining to licenses that licenses may be granted for the provision of assistance to the CAR security forces and for the provision of otherwise prohibited goods to same forces.

Other Features
asset freezing
banks
broker
financial resources
fund management
investment firms
payment services
permissions
restrictions
sanctions
Date Published: 2023-12-15
Date Taking Effect: 2023-12-15
Regulatory Framework: HK Sanctions
Regulatory Type: regulation
Asset Management
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