EXPLANATORY NOTE  (This note is not part of the Order)  This Order extends with modifications the Global Anti-Corruption (Sanctions) Regulations 2021  (S.I. 2021/488) (“the Global Anti-Corruption Regulations”) as amended from time to time to all  British overseas territories except Bermuda and Gibraltar (which implement sanctions under their  own legislative arrangements).  Section 63(3)(c) of the Sanctions and Anti-Money Laundering Act 2018 (c. 13) (“the Sanctions  Act”) provides that Her Majesty may by Order in Council provide for any provision of Part 1 of  that Act, or any regulations under Part 1 of that Act, to extend with or without modifications to  any of the British overseas territories. Section 63(4) provides that this includes the power to  extend any regulations as amended from time to time.  The Global Anti-Corruption Regulations were made under Part 1 of the Sanctions Act to establish  a sanctions regime for the purpose of preventing and combatting serious corruption.  The Global Anti-Corruption Regulations, as modified and extended to the British overseas  territories listed in Schedule 1 by this Order (“the modified Regulations”), provide that a person  designated by the Secretary of State for being, or having been, involved in such activities, is a  designated person for the purposes of the modified Regulations. Designated persons may be  excluded from the territory and may be made subject to financial sanctions, including having their  funds or economic resources frozen.  The modified Regulations provide for certain exceptions to this sanctions regime (for example to  allow for frozen accounts to be credited with interest or other earnings and to allow acts done for  the purpose of national security or the prevention of serious crime). The Governor may, with the  consent of the Secretary of State, issue a licence in respect of activities that would otherwise be  prohibited under the modified Regulations. Schedule 2 sets out the purposes pursuant to which the  Governor may issue such licences. The modified Regulations also require the Governor of the  relevant territory to publish an up-to-date list of designated persons.  The modified Regulations prescribe powers for the provision and sharing of information to enable  the effective implementation and enforcement of the sanctions regime. The modified Regulations  make it a criminal offence to contravene, or circumvent, any of the prohibitions in the modified  Regulations and prescribe the penalties that apply to such offences.  This Order also extends to the territories for the purposes of the modified Regulations specific  provisions of Part 1 of the Sanctions Act, namely provisions relating to protection for acts done for  purposes of compliance, Crown application and saving for prerogative powers.  An impact assessment has not been prepared for this instrument: the territorial extent of the  instrument and the modified Regulations is the British overseas territories listed in Schedule 1, and  no, or no significant, impact is foreseen on the private, voluntary or public sectors in the United  Kingdom.  © Crown copyright 2021  Printed and published in the UK by The Stationery Office Limited under the authority and superintendence of Jeff James,  Controller of Her Majesty’s Stationery Office and Queen’s Printer of Acts of Parliament.  14