S.I. No. 183/2014 - European Union (Restrictive Measures Concerning Ukraine) Regulations 2014.
Notice of the making of this Statutory Instrument was published in | ||
“Iris Oifigiúil” of 22nd April, 2014. | ||
I, MICHAEL NOONAN, 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 full effect to Council Regulation (EU) No. 208/2014 of 5 March 20141 , and Council Regulation (EU) No. 269/2014 of 17 March 20142 , as last amended by Council Implementing Regulation (EU) No. 284/2014 of 21 March 20143 , hereby make the following regulations: | ||
1. These Regulations may be cited as the European Union (Restrictive Measures Concerning Ukraine) Regulations 2014. | ||
2. (1) In these Regulations | ||
“Council Regulation (EU) No. 208/2014” means Council Regulation (EU) No. 208/2014 of 5 March 20141. | ||
“Council Regulation (EU) No. 269/2014” means Council Regulation (EU) No. 269/2014 of 17 March 20142, as amended by Council Implementing Regulation (EU) No. 284/2014 of 21 March 20143. | ||
(2) A word or expression used in these Regulations that is also used in Council Regulation (EU) No. 208/2014 or Council Regulation (EU) No. 269/2014 has, unless the context otherwise requires, the same meaning in these Regulations as it has in the Council Regulation concerned. | ||
3. For the purposes of these Regulations and the Council Regulations the Central Bank of Ireland shall be the competent authority in the State. | ||
4. Subject to Regulation 5, a person who contravenes the provisions of the Council Regulations as regards— | ||
(a) the freezing of funds or economic resources, | ||
(b) the making available of funds or economic resources, | ||
(c) the supply of information to or co-operation with the competent authority, or | ||
(d) the participation in activities to circumvent the requirements of the Council Regulations as regards paragraph (a), (b) or (c) | ||
shall be guilty of an offence. | ||
5. Notwithstanding Regulation 4, a person who has been granted or is deemed to have been granted an authorisation under Article 4, 5 or 6 of Council Regulation (EU) No. 208/2014 or Article 4, 5 or 6 of Council Regulation (EU) No. 269/2014 may, subject to compliance with the terms and conditions of such authorisation, do such of the things as are so authorised. | ||
6. A person who is guilty of an offence under Regulation 4 shall be liable— | ||
(a) on summary conviction, to a Class A fine or imprisonment for a term not exceeding 12 months or both, or | ||
(b) on conviction on indictment, to a fine not exceeding €500,000 or imprisonment for a term not exceeding 3 years or both. | ||
7. The Central Bank of Ireland may, for the purposes of the administration and enforcement of the Council Regulations or these Regulations, give such directions or issue such instructions to a person as it sees fit. | ||
8. A person who fails to comply with a direction given or an instruction issued under Regulation 7 shall be guilty of an offence and shall be liable on summary conviction to a Class A fine or imprisonment for a term not exceeding 6 months or both. | ||
9. Where a body corporate is guilty of an offence under these Regulations and the offence is proved to have been committed with the consent or connivance 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 shall, as well as the body corporate, be guilty of an offence and is 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, | ||
15 April 2014. | ||
MICHAEL NOONAN, | ||
Minister for Finance. | ||
EXPLANATORY NOTE | ||
(This note is not part of the Instrument and does not purport to be a legal interpretation.) | ||
These Regulations provide for enforcement of European Union financial sanctions contained in Council Regulation (EU) No. 208/2014 of 5 March 2014 and Council Regulation (EU) No. 269/2014 of 17 March 2014, as amended, concerning restrictive measures directed against certain persons, entities and bodies identified as responsible for the misappropriation of Ukrainian State funds and persons responsible for human rights violations in Ukraine. | ||
These Regulations also provide that the Central Bank of Ireland may issue instructions for the purpose of giving full effect to the financial sanctions. | ||
They create offences for breach of the Council Regulations or for failure to comply with the instructions of the Central Bank of Ireland with regard to implementation of the sanctions and they provide for appropriate penalties. | ||
