S.I. No. 422/2005 - Financial Transfers (Democratic Republic Of Congo) (Prohibition) Order 2005
FINANCIAL TRANSFERS (DEMOCRATIC REPUBLIC OF CONGO) (PROHIBITION) ORDER 2005. | ||||||
I, BRIAN COWEN, Minister for Finance, in exercise of the powers conferred on me by section 4 of the Financial Transfers Act 1992 (No. 27 of 1992) and for the purpose of giving effect to Council Regulation (EC) No. 889/2005 of 13 June 20051 , hereby order as follows: 1. This Order may be cited as the Financial Transfers (Democratic Republic of Congo) (Prohibition) Order 2005. 2. (1) In this Order— | ||||||
“Central Bank” means Central Bank and Financial Services Authority of Ireland; | ||||||
“Council Regulation” means Council Regulation (EC) No. 889/2005 of 13 June 20051 ; | ||||||
“persons” includes a natural or legal person, group, entity or body. | ||||||
(2) A word or expression that is used in this Order has unless the context otherwise requires, the same meaning that it has in the Council Regulation. 3. This Order applies to financial transfers 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 in, or for use in the Democratic Republic of Congo. 4. A person shall not make a financial transfer to which this Order applies between the State and another country. 5. Notwithstanding Article 4 of this Order, a person may make a financial transfer to which this Order applies where that person has received an authorisation in respect of such transfer pursuant to Article 3 of the Council Regulation. 6. The Central Bank may, for the purpose of supervision of financial transfers and for the administration and enforcement of the provisions of this Order, give such directions or issue such instructions to a person as it sees fit. 7. A person to whom a direction has been given or an instruction issued under Article 6 of this Order shall comply with such direction or instruction. 8. A person shall not do anything to directly or indirectly assist in the circumvention of the provisions of this Order. | ||||||
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EXPLANATORY NOTE. | ||||||
(This note is not part of the Statutory Instrument and does not purport to be a legal interpretation.) | ||||||
This Order prohibits financial transfers between the State and another country concerning the provision of financing or financial assistance related to military activities in the Democratic Republic of Congo as prohibited under Council Regulation (EC) No. 889/2005 of 13 June 2005. | ||||||
