S.I. No. 461/2004 - European Communities (Iraq) (Financial Sanctions) Regulations, 2004
I, CHARLIE McCREEVY, Minister for Finance, in exercise of the powers conferred on me by section 3 of the European Communities Act, 1972 (No. 27 of 1972), and for the purpose of giving effect to Council Regulation (EC) No. 1210/2003 of 7 July 20031 , as amended, hereby make the following regulations: 1. These Regulations may be cited as the European Communities (Iraq) (Financial Sanctions) Regulations 2004. 2. (1) In these Regulations— | ||||||
“Central Bank” means Central Bank and Financial Services Authority of Ireland; | ||||||
“Council Regulation” means Council Regulation (EC) No. 1210/2003 of 7 July 20031 , as amended by: | ||||||
(i) Council Regulation (EC) No. 1799/2003 of 13 October 20032 | ||||||
(ii) Commission Regulation (EC) No. 2119/2003 of 2 December 20033 | ||||||
(iii) Commission Regulation (EC) No. 2204/2003 of 17 December 20034 | ||||||
(iv) Commission Regulation (EC) No.924/2004 of 29 April 20045 | ||||||
(vi) Commission Regulation (EC) No. 1086/2004 of 9 June 20047 | ||||||
(2) A word or expression which is used in this Order has, unless the context otherwise requires, the same meaning that it has in the Council Regulation. | ||||||
(3) In these Regulations, unless otherwise indicated, a reference to a Regulation is a reference to a Regulation in these Regulations. 3. Subject to Regulation 5, a person transferring funds or economic resources which are frozen by virtue of the Council Regulation shall be guilty of an offence. 4. Subject to Regulation 5, a person making available funds or economic resources, either directly or indirectly, which is prohibited by virtue of the Council Regulation shall be guilty of an offence. 5. Regulations 3 and 4 shall not apply in a case where a specific authorisation for a derogation has been granted in accordance with Article 6 of the Council Regulation, as amended. 6. The Central Bank may, for the purposes of the administration and enforcement of the provisions of these Regulations, give such directions or issue such instructions to a person as it sees fit. 7. A person who fails to comply with a direction or an instruction issued under Regulation 6 shall be guilty of an offence. 8. A person guilty of an offence under these Regulations shall be liable on summary conviction to a fine not exceeding €3,000 or to imprisonment for a term not exceeding 12 months or to both. 9. Where an offence under these Regulations is committed by a body corporate and is proved to have been so committed with the consent, connivance or approval of or to have been attributable to any neglect on the part of any person, being a director, manager, secretary or other officer of the body corporate or a person who was purporting to act in any such capacity, that person as well as the body corporate, shall be guilty of an offence and shall be liable to be proceeded against and punished as if he or she were guilty of the first mentioned offence. | ||||||
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EXPLANATORY NOTES. | ||||||
(This note is not part of the Statutory Instrument and does not purport to be a legal interpretation.) | ||||||
These Regulations provide for penalties for breach of financial sanctions against certain persons and entities associated with Iraq and which are listed in Annex III and IV to Council Regulation (EC) No. 1210/2003 of 7 July 2003, as amended by Council Regulation (EC) No. 1799/2003 of 13 October 2003 and the Commission Regulations referred to in this Order. | ||||||
1 O.J. No. L169, 8.7.2003, p.6. 1 O.J. No. L169, 8.7.2003, p.6. 2 O.J. No. L264, 15.10.2003, p.12. 3 O.J. No. L318, 3.12.2003, p.9. 4 O.J. No. L330, 18.12.2003, p.7. 5 O.J. No. L163, 30.4.2004, p.100. |
