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Freezing Assets of Corrupt Foreign Officials (Ukraine) Regulations (SOR/2014-44)

Regulations are current to 2024-10-30 and last amended on 2021-06-17. Previous Versions

Freezing Assets of Corrupt Foreign Officials (Ukraine) Regulations

SOR/2014-44

FREEZING ASSETS OF CORRUPT FOREIGN OFFICIALS ACT

Registration 2014-03-05

Freezing Assets of Corrupt Foreign Officials (Ukraine) Regulations

P.C. 2014-198 2014-03-05

Whereas Ukraine has asserted to the Government of Canada, in writing, that each of the persons listed in the annexed Freezing Assets of Corrupt Foreign Officials (Ukraine) Regulations has misappropriated property of Ukraine or has acquired property inappropriately by virtue of their office or a personal or business relationship and Ukraine has asked the Government of Canada to freeze the property of those persons;

Whereas the Governor in Council is satisfied that each of those persons is a politically exposed foreign person in relation to Ukraine;

Whereas the Governor in Council is satisfied that there is internal turmoil or an uncertain political situation in Ukraine;

And whereas the Governor in Council is satisfied that the making of the annexed Freezing Assets of Corrupt Foreign Officials (Ukraine) Regulations is in the interest of international relations;

Therefore, His Excellency the Governor General in Council, on the recommendation of the Minister of Foreign Affairs, pursuant to subsections 4(1) to (3) of the Freezing Assets of Corrupt Foreign Officials ActFootnote a, makes the annexed Freezing Assets of Corrupt Foreign Officials (Ukraine) Regulations.

Application

Marginal note:Application

1 Section 2 applies in respect of the property of the politically exposed foreign persons listed in the schedule.

Prohibitions

Marginal note:Asset freeze

2 A person in Canada or a Canadian outside Canada must not

  • (a) deal, directly or indirectly, in any property, wherever situated, of any politically exposed foreign person;

  • (b) enter into or facilitate, directly or indirectly, any financial transaction related to a dealing referred to in paragraph (a); or

  • (c) provide financial services or other related services in respect of any property of any politically exposed foreign person.

Application Before Publication

Marginal note:Application before publication

3 For the purpose of paragraph 11(2)(a) of the Statutory Instruments Act, these Regulations apply before they are published in the Canada Gazette.

Coming into Force

Marginal note:Registration

4 These Regulations come into force on the day on which they are registered.

Table of Contents

 

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