Regulatory Alerts2014-04-16 | cba-blob-10384Sanction State Ordinance 2006
The Government of Aruba issued the Sanction State Ordinance 2006 to establish a legal framework for implementing international obligations through targeted sanction decisions. The Ordinance empowers the Minister and designated Ministers to impose restrictions on financial, shipping, air, and telecommunications traffic, while granting exemptions or dispensations subject to strict conditions. It further defines confidentiality rules, information exchange with domestic and foreign authorities, administrative enforcement mechanisms including coercive fines and penalties, supervisory powers of the Central Bank, and corresponding penal provisions for intentional and unintentional violations.
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