Sanctions

Canada:

Canada imposes sanctions under the Special Economic Measures Act (SEMA) which are currently targeted against Myanmar, Democratic People's Republic of Korea, Iran, Libya, Syria and Zimbabwe and adopts UN Security Council resolutions under its UN Act for implementing sanctions against targeted countries such as Iran and the Ivory Coast. SEMA gives authority to issue permits to persons to carry out activities otherwise restricted under the Act and imposes disclosure obligations on everyone in Canada and every Canadian outside of Canada with regards to assets possessed which may be controlled by “designated persons” or “listed persons” who are sanctioned as individuals or companies (WorldECR, Issue 24, August 2013, p. 28, C. Sosnow, S. McGurran/ DuMoulin- Fasken Martineau, LLP).