23 October 2001

To: Chief Executive of all authorized insurance institutions

Dear Sir/Madam,

I write to draw your attention to the United Nations Sanctions (Afghanistan) (Arms Embargoes) Regulation which was gazetted and came into effect on 12 October 2001 and will expire on 18 January 2002.

The above regulation seeks to give effect to the directive from the Central People's Government to impose additional sanctions on Afghanistan for 12 months with effect from mid-January 2001 under the United Nations Security Council Resolution No. 1333. A copy of the above regulation is enclosed at Annex I (File size: 121kB).

The sanctions imposed on Afghanistan include, among other requirements, the freezing of funds and financial resources of Usama bin Laden and any person connected with him, as well as prohibiting any funds or financial resources made available to Usama bin Laden and any person connected with him (section 8 of the United Nations Sanctions (Afghanistan) (Arms Embargoes) Regulation). In this connection, you may wish to note that the list of "person connected with Usama bin Laden" designated by the relevant United Nations Security Council Committee has been gazetted on 19 October 2001 (section 19 of the United Nations Sanctions (Afghanistan) (Arms Embargoes) Regulation). A copy of the Gazette (GN6403) is enclosed at Annex II (File size: 42kB).

Apart from the above regulation, the Government also published in the Gazette on 23 June 2000 the United Nations Sanctions (Afghanistan) Regulation. This provides, among other things, for the freezing of funds of the Taliban. Again, a list of the individuals and entities designated by the relevant United Nations Security Council Committee for this purpose (i.e. those whose funds will be affected) has been gazetted on 19 October 2001. A copy each of this regulation and the relevant Gazette (GN6402) are enclosed at Annex III (File size: 5kB) and Annex IV (File size : 65kB) respectively.

You are advised to take appropriate steps to ensure compliance with the above two regulations.

If you have any questions, please contact Mr. William Hsieh at 2867 4529 or Ms. Carol Hui at 2867 2551.

Yours sincerely,

(Benjamin Tang)
Commissioner of Insurance

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