Regulatory Alerts2013-08-21 | cba-blob-10403Sanctions State Ordinance 2006
The Aruban government issued this State Ordinance to implement international obligations by empowering the Ministers to promulgate sanction decrees that restrict residents' financial, shipping, aviation, and telecommunications activities. The framework authorizes targeted exemptions and dispensations, mandates confidentiality for obtained data, and enforces compliance through administrative penalty charges and criminal fines reaching AWG 250,000 for intentional violations. Supervision is delegated to designated civil servants and the Central Bank of Aruba, while the ordinance supersedes the 1997 Sanction Ordinance and becomes effective upon official publication.
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