S.I. No. 263/1998 - Financial Transfers (Republic of Serbia) Order, 1998.

S.I. No. 263 of 1998.

FINANCIAL TRANSFERS (REPUBLIC OF SERBIA) ORDER, 1998.

I, CHARLIE McCREEVY, Minister for Finance, in exercise of the powers conferred on me by section 4 of the Financial Transfers Act, 1992 (No. 27 of 1992), hereby order as follows:

1. This Order may be cited as the Financial Transfers (Republic of Serbia) Order, 1998.

2. This Order applies to financial transfers which relate to—

(a) the provision by a Department of State or a body established by or under statute of financing, or the use of such financing by any person, for the purpose of privatisations in the Republic of Serbia in respect of which no legally binding commitments have been entered into before the making of this Order, or

(b) the participation, knowingly and intentionally, in related activities the object or effect of which is, directly or indirectly, to promote the transactions or activities referred to in paragraph (a) of this Article.

3. A person shall not make a financial transfer to which this Order applies from the State to another country.

4. The Central Bank of Ireland may give such directions or issue such instructions to persons as it sees fit for the administration and enforcement of this Order.

5. A person to whom a direction has been given or an instruction issued under Article 4 of this Order shall comply with the direction or instruction.

6. A person shall not do anything to promote a financial transfer to which this Order applies which is prohibited by this Order.

GIVEN under my Official Seal, this 24th day of July, 1998.

CHARLIE McCREEVY,

Minister for Finance.

EXPLANATORY NOTE.

This Order prohibits the provision by Departments or other State bodies of financing, or the use of such financing by any person, for the purpose of privatisations in the Republic of Serbia except where legally binding contracts exist, in accordance with Council Regulation (EC) No. 926/98 of 27 April 1998.