regulation

United Nations Sanctions (Democratic Republic of the Congo) Regulation 2019 (Amendment) Regulation 2023 gazetted

ID 22597

On March 31, 2023, the Hong Kong government published a press release to announce the gazettal of the United Nations Sanctions (Democratic Republic of the Congo) Regulation 2019 (Amendment) Regulation 2023 which came into force on same day. The regulation amends the United Nations Sanctions (Democratic Republic of the Congo) Regulation 2019 „to give effect to certain decisions on sanctions in the United Nations Security Council Resolutions 2664 and 2667 in respect of the Democratic Republic of the Congo“. Specifically, the regulation
– removes the requirement to notify the „Committee of the Security Council“ before a license is being granted for the intended provision of assistance and weapons to the Congo and
– 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).

Other Features
asset freezing
banks
notifications
payment services
permissions
sanctions
Date Published: 2023-03-31
Date Taking Effect: 2023-03-31
Regulatory Framework: HK Sanctions
Regulatory Type: regulation
Asset Management
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