IE
S.I. No. 153/2005 - European Communities (Liberia) (Sanctions) Regulations 2005
Table of Provisions (10)
Statutory Text (10 Articles)
1. These Regulations may be cited as the European Communities (Liberia (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. 872/2004 of 29 April 2004
1
as amended by
(1) Commission Regulation (EC) No 1149/2004 of 22 June 2004
2
.
(2) Commission Regulation (EC) No 1478/2004 of 18 August 2004
3
(3) Commission Regulation (EC) No 1580/2004 of 8 September 2004
4
and
(4) Commission Regulation (EC) No 2136/2004 of 14 December 2004
5
(2) A word or expression which is used in these Regulations 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 either Article 3 or Article 4 of the Council Regulation.
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. The European Communities (Liberia) (Sanctions) Regulations 2004 [
S.I. No. 465 of 2004
] is revoked.
GIVEN under my Official Seal,
This 10
th
day of March 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 against certain persons formerly related to important governmental functions in Liberia listed in Annex I to Council Regulation (EC) No. 872/2004 of 29 April 2004, as amended by the Commission Regulations referred to in this Regulation.
1
O.J. No. L162, 30.4.2004, p.32.
1
O.J. No. L162, 30.4.2004, p.32.
2
O.J. No. L222, 23.6.2004, p17.
3
OJ No L 271, 19.8.2004, p. 36
4
OJ No L 289, 10.9.2004, p. 4
5
OJ No L 369, 16.12.2004, p. 14
S.I. No. 153 of 2005
European Communities (Liberia) (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. 872/2004 of 29 April 2004
1
, as amended, hereby make the following regulations