The Yemen Amendment Regulation, which was made under the United Nations Sanctions Ordinance (Cap. 537), has been published in the Gazette on 25 May 2023 and is now in effect. It modifies the United Nations Sanctions (Yemen) Regulation 2019 to implement specific decisions on sanctions regarding Yemen, such as the renewal of financial sanctions and a travel ban, as well as updated exemption arrangements for asset freeze, as stated in the United Nations Security Council Resolutions 2664 and 2675. Licensed corporations and their associated entities should follow the guidance provided in Chapter 6 of the AML Guideline to ensure compliance with the regulations made under the UNSO. The Yemen Amendment Regulation can be accessed on the Government’s website.
The Yemen Amendment Regulation: https://www.gld.gov.hk/egazette/pdf/20232721/es22023272186.pdf