HONG KONG: KUWAIT/IRAQ FREEZING OF ASSETS AND IMPLEMENTATION
OF UN SANCTIONS
1.
Following the invasion of Kuwait by Iraq on 2 August, HMG moved quickly to impose a freeze on Kuwaiti and Iraqi
assets by exercising powers under the Emergency Laws
(Re-enactments and Appeals) Act 1964. Hong Kong, which does
not have equivalent statutory powers to those which the UK
was able to exercise, became the subject of an Order-in-
Council under the Royal Prerogative on 6 August, which
enabled it to impose a freeze on Kuwaiti/Iraqi assets. A
subsequent Order extended to the Dependent Territories the
UN Trade Embargo contained in SCR No 661, and under this
order the power to issue or refuse licences which in the UK
rests with DTI, was vested in the Governor. Taken together
these measures have given Hong Kong (and other Dependent Territories) similar powers as exist in the UK to prevent sanction breaking.
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