European Union (Iraq) (Financial Sanctions) Regulations 2012.
Statutory Instruments
Source: Statutory Instruments

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paragraphs: These Regulations may be cited as the European Union (Iraq) (Financial Sanctions) Regulations 2012.
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paragraphs: (1) In these Regulations—
(a) Council Regulation (EC) No. 1799/2003 of 13 October 20032 ,
(b) Commission Regulation (EC) No. 2119/2003 of 2 December 20033 ,
(c) Commission Regulation (EC) No. 924/2004 of 29 April 20044 ,
(d) Commission Regulation (EC) No. 979/2004 of 14 May 20045 ,
(e) Commission Regulation (EC) No. 1086/2004 of 9 June 20046 ,
(f) Council Regulation (EC) No. 1412/2004 of 3 August 20047 ,
(g) Commission Regulation (EC) No. 1087/2005 of 8 July 20058 ,
(h) Commission Regulation (EC) No. 1286/2005 of 3 August 20059 ,
(i) Commission Regulation (EC) No. 785/2006 of 23 May 200610 ,
(j) Council Regulation (EC) No. 195/2008 of 3 March 200811 ,
(k) Council Regulation (EC) No. 175/2009 of 5 March 200912 ,
(l) Council Regulation (EU) No. 168/2010 of 1 March 201013 ,
(m) Council Regulation (EU) No. 131/2011 of 14 February 201114 , and
(n) Commission Implementing Regulation (EU) No. 88/2012 of 1 February 201215 .
(2) A word or expression which is used in these Regulations and which is also used in the Council Regulation has, unless the context otherwise requires, the same meaning in these Regulations as it has in the Council Regulation.
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paragraphs: Subject to Regulation 4, a person commits an offence if he or she infringes the provisions of the Council Regulation as regards—
(a) the transfer of funds to the Development Fund for Iraq,
(b) the freezing of funds or economic resources,
(c) the making available of funds or economic resources,
(d) the supply of information to or cooperation with the competent authorities, or
(e) the participation in activities to circumvent the requirements of the Council Regulation as regards paragraph (a), (b), (c) or (d).
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paragraphs: Notwithstanding Regulation 3, a person who has received an authorisation under Article 6 of the Council Regulation may, subject to compliance with the terms and conditions of such authorisation, do such of the things referred to in Regulation 3 as are so authorised.
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paragraphs: The Central Bank of Ireland 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.
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paragraphs: A person who fails to comply with a direction given or an instruction issued under Regulation 5 shall be guilty of an offence.
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paragraphs: 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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paragraphs: A person guilty of an offence under these Regulations is liable:
(a) on summary conviction, to a Class A fine or to imprisonment for a term not exceeding 12 months or to both, or
(b) on conviction on indictment, to a fine not exceeding €500,000 or to imprisonment for a term not exceeding 3 years or to both.
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paragraphs: The European Communities (Iraq) (Financial Sanctions) Regulations 2011 ( S.I. No. 176 of 2011 ) are revoked.