S.I. No. 902/2005 - European Communities (Uzbekistan) (Financial Sanctions) Regulations 2005


S.I. No. 902 of 2005 .

EUROPEAN COMMUNITIES (UZBEKISTAN) (FINANCIAL SANCTIONS) REGULATIONS 2005.

I, BRIAN COWEN, 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. 1859/2005 of 14 November 20051 , hereby make the following regulations:

1.  These Regulations may be cited as the European Communities (Uzbekistan) (Financial Sanctions) Regulations 2005.

2.  (1)  In these Regulations—

“Central Bank” means Central Bank and Financial Services Authority of Ireland;

“Council Regulation” means Council Regulation (EC No. 1859/2005 of 14 November 2005.

(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 4, a person who makes a financial transfer concerning the provision of financing or financial assistance related to military activities, including in particular grants, loans and export credit insurance, for any sale supply, transfer or export of arms and related material, or for any grant, sale, supply, or transfer of related technical assistance and other services, directly or indirectly to any person, entity or body as outlined in the Council Regulation is guilty of an offence.

4.  Regulation 3 shall not apply in a case where a specific authorisation for a derogation has been granted in accordance with Article 4 of the Council Regulation.

5.  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.

6.  A person who fails to comply with a direction or an instruction issued under Regulation 5 shall be guilty of an offence.

7.  A person guilty of an offence under these Regulations shall be liable on summary conviction to a fine not exceeding €5,000 or to imprisonment for a term not exceeding 12 months or to both.

8.  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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GIVEN under my Official Seal,

20th day December 2005.

 

BRIAN COWEN,

Minister for Finance.

EXPLANATORY NOTE.

(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 in respect of the provision of financing or financial assistance related to military activities, arms and related material and to equipment which might be used for internal repression in Uzbekistan, as outlined in Council Regulation (EC) No. 1859/2005 of 14 November 2005.

1 O.J. No. L299, 16.11.2005, p.23.