Explanatory note

This Order implements in part Council Regulation (EC) 1377/2007 which amends Council Regulation (EC) 889/2005^f1.

Council Regulation (EC) 1377/2007 was adopted pursuant to Council Common Position 2007/654/CFSP^f2 integrating the measures contained in UN Security Council Resolution 1771 (2007).

Council Regulation (EC) 1377/2007 also makes provision for recent developments in sanctions practice regarding the identification of competent authorities, liability for infringements and jurisdiction. It clarifies that the prohibition set out in Article 2(b) of Council Regulation (EC) 889/2005 (provision of financing or financial assistance related to military activities etc) shall not give rise to any liability, if the person concerned did not know, nor have any reasonable cause to suspect, that his actions would infringe the prohibition.

A full regulatory impact assessment has not been produced for this instrument, as it has no impact on the costs of business.