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On May 9, 2013, legislation.gov.uk posted SI 2013/1096 – The Burma/Myanmar (Financial Restrictions) (Revocation) Regulations 2013 which revokes the Burma/Myanmar (Financial Restrictions) Regulations 2009 (S.I. 2009/1495, which was amended by S.I. 2013/472) and the Burma/Myanmar (Financial Restrictions) (Suspension) Regulations 2012 (S.I. 2012/1302).
Council Regulation (EC) No. 194/2008 (“the first Council Regulation”) of February 25, 2008 renewing and strengthening the restrictive measures in respect of Burma/Myanmar and repealing Regulation (EC) No. 817/2006 contains various sanctions measures imposed in respect of Burma/Myanmar. Those measures include financial sanctions which require the funds and economic resources of certain persons, entities and bodies to be frozen and which impose restrictions on the financing of certain enterprises. Parts 3 and 5 of the Burma/Myanmar (Financial Restrictions) Regulations 2009 (S.I. 2009/1495, “the 2009 Regulations”) provide for criminal penalties for breach of the financial sanctions provisions of the first Council Regulation. Various sanctions measures contained in the first Council Regulation, including the financial sanctions measures, were suspended until April 30, 2013 by Council Regulation (EU) No. 409/2012 of 14 May 2012 with effect from May 16, 2012. The Burma/Myanmar (Financial Restrictions) (Suspension) Regulations 2012 (S.I. 2012/1302, “the 2012 Regulations”) accordingly suspended Parts 3 and 5 of the 2009 Regulations until April 30, 2013. Council Regulation (EU) No. 401/2013 of 2 May 2013 revokes all of the financial sanctions measures contained in the first Council Regulation. These Regulations accordingly revoke the 2009 Regulations and the 2012 Regulations. |
