Sanctions (Monitoring Board) Regulations, 2000

L.N.187 of 2000

NATIONAL INTEREST (ENABLING POWERS) ACT

(CAP. 365)

Sanctions (Monitoring Board) Regulations, 2000

IN exercise of the powers conferred by article 3 of the National

Interest (Enabling Powers) Act, hereinafter called "the Act", the Prime

Minister has made the following regulations:-

The title of these regulations is the Sanctions (Monitoring Citation.

Board) Regulations, 2000.

(1) There shall be a Monitoring Board having the functions Monitoring Board.

set out in this regulation.

composition and

functions.

(2) The Monitoring Board shall be composed of a

representative of the Ministry of Foreign Affairs who shall be Chairman,

the Attorney General or his representative, a representative of the

Ministry of Finance, a representative of the Central Bank of Malta, a

representative of the European Union Directorate, a representative of

the Customs Department, a representative of the Trade Department and

a representative of the. Malta Financial Services Centre.

(3) The Monitoring Board shall have the function to monitor

the operation of regulations made under the Act in accordance with

such directives as provided for under article 3 subarticles (1), (3), (5),

(6), (7) and (8) of the Act with a view of harmonising practice thereon

with that followed by other states enforcing the sanctions relative to the

same regulations.

(4) The Monitoring Board shall at the end of each year, or

earlier if so requested, make a report of its activities to the Prime Minister.

A person may request the Monitoring Board to give a ruling Negative clearance.

on whether an action intended by him falls to be prohibited by any

particular regulation issued under the Act, and no liability shall attach

under any such regulations where a person has acted in conformity with

any such ruling.

No liability, criminal or civil, shall attach to any member of Exemption from

the Monitoring Board for any action done in good faith as a member liability.

thereof.