Statute Details
- Title: United Nations (Sanctions — Mali) Regulations 2020
- Full Title: N/A
- Act Code: UNA2001-S864-2020
- Type: sl
- Commencement Date: N/A
- Parts: N/A
- Key Sections: Section 4: In these Regulations, unless the context otherwise requires —; Section 9: A person who contravenes regulation 5, 6, 7 or 8 shall be guilty of an offence.
- Related Legislation: Markets Act 2022, Timeline Authorising Act, United Nations Act, Variable Capital Companies Act 2018, Variable Capital Companies Act 2018
What Is This Legislation About?
The United Nations (Sanctions — Mali) Regulations 2020 is a piece of Singapore legislation that aims to assist in giving effect to United Nations Security Council Resolutions 2374 (2017) and 2541 (2020). These resolutions impose sanctions on individuals and entities in Mali who threaten the peace, security, or stability of the country.
The regulations establish a framework for implementing the targeted sanctions measures mandated by the UN Security Council, including asset freezes and prohibitions on making funds or other economic resources available to designated persons. The regulations apply to all persons in Singapore as well as Singaporean citizens outside of Singapore.
What Are the Key Provisions?
The key provisions of the United Nations (Sanctions — Mali) Regulations 2020 are as follows:
Definitions (Section 4): The regulations define several key terms, including "designated person," which refers to individuals or entities listed by the UN Security Council or its Committee as subject to the sanctions measures. The regulations specify that a designated person is considered as such from the date they are added to the UN List, and cease to be a designated person from the date they are removed from the list.
Asset Freeze (Section 5): The regulations prohibit any person in Singapore or any Singaporean citizen outside Singapore from dealing, directly or indirectly, with funds or other financial assets or economic resources owned or controlled by designated persons, persons acting on their behalf, or entities owned or controlled by them.
Prohibition on Making Funds Available (Section 6): The regulations prohibit any person in Singapore or any Singaporean citizen outside Singapore from making available, directly or indirectly, any funds or other financial assets or economic resources to or for the benefit of designated persons, persons acting on their behalf, or entities owned or controlled by them.
General Prohibition (Section 7): The regulations prohibit any person in Singapore or any Singaporean citizen outside Singapore from knowingly doing anything that causes, assists, or promotes, or is intended to cause, assist, or promote, any act or thing prohibited by the asset freeze or prohibition on making funds available.
Duty to Provide Information (Section 8): The regulations require any person in Singapore or any Singaporean citizen outside Singapore who has possession, custody, or control of property belonging to designated persons or entities, or information about transactions or proposed transactions involving such property, or information about any prohibited acts, to immediately inform the Commissioner of Police or an authorized person and provide any further information as required.
Offences (Section 9): The regulations make it an offence to contravene the provisions on the asset freeze, prohibition on making funds available, general prohibition, or duty to provide information. It is a defense for a person charged with contravening the duty to provide information to prove they had a reasonable excuse.
Exemptions (Section 10): The Minister or a person designated by the Minister may, if they consider it appropriate and consistent with the UN Security Council's intentions, exempt any person, class of persons, activity, or class of activities from the provisions of the regulations.
How Is This Legislation Structured?
The United Nations (Sanctions — Mali) Regulations 2020 is a relatively concise piece of legislation, consisting of 10 sections. The first three sections cover the citation, commencement, object, and application of the regulations. Section 4 provides definitions of key terms used throughout the regulations.
Sections 5 through 7 set out the core prohibitions, including the asset freeze, prohibition on making funds available, and general prohibition. Section 8 establishes the duty to provide information, while Section 9 addresses offences and defenses. Finally, Section 10 provides for exemptions that may be granted by the Minister or a designated person.
Who Does This Legislation Apply To?
The United Nations (Sanctions — Mali) Regulations 2020 apply to all persons in Singapore, as well as Singaporean citizens outside of Singapore. The regulations do not apply to certain financial institutions or variable capital companies (VCCs) to the extent that they are subject to directions or regulations issued by the Monetary Authority of Singapore.
The key targets of the regulations are "designated persons," which include individuals and entities listed by the UN Security Council or its Committee as subject to the sanctions measures. The regulations specify how and when a person or entity becomes a designated person, and when they cease to be one.
Why Is This Legislation Important?
The United Nations (Sanctions — Mali) Regulations 2020 are an important piece of legislation that allows Singapore to fulfill its obligations as a member of the United Nations and implement the targeted sanctions measures imposed by the UN Security Council on individuals and entities in Mali.
These sanctions are intended to help address the ongoing political and security crisis in Mali, which has threatened the peace, security, and stability of the country. By prohibiting the dealing with funds and other economic resources of designated persons, as well as the making available of such resources to them, the regulations aim to disrupt the activities of those undermining the peace process in Mali.
Failure to comply with the regulations can result in criminal offences, underscoring the importance of financial institutions, businesses, and individuals in Singapore adhering to the requirements. The regulations also empower the authorities to gather information and monitor compliance, which is crucial for the effective implementation of the sanctions.
Related Legislation
- Markets Act 2022
- United Nations Act
- Variable Capital Companies Act 2018
Source Documents
This article provides an overview of the United Nations (Sanctions — Mali) Regulations 2020 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.