European Communities (Iran) (Financial Sanctions) Regulations 2009
Statutory Instruments
Source: Statutory Instruments

num: 1
paragraphs: These Regulations may be cited as the European Communities (Iran) (Financial Sanctions) Regulations 2009.
num: 2
paragraphs: (1) In these Regulations “Council Regulation” means Council Regulation (EC) No. 423/2007 of 19 April 20071, as amended by—
(a) Council Regulation (EC) No. 618/2007 of 5 June 2007 2 ,
(b) Commission Regulation (EC) No. 116/2008 of 28 January 2008 3 and the Corrigendum to that Regulation 4 ,
(c) Commission Regulation (EC) No. 219/2008 of 11 March 2008 5 , and
(d) Council Regulation (EC) No. 1110/2008 of 10 November 2008 6 ,
(e) Council Decision 2007/242/EC of 23 April 2007 7 , and
(f) Council Decision 2008/475/EC of 23 June 2008 8 .
(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.
num: 3
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 provision of investment,
(b) the provision of financing or financial assistance,
(c) the freezing of funds or economic resources,
(d) the making available of funds or economic resources,
(e) the due application of measures by credit and financial institutions in their activities with the institutions referred to in paragraph 2 of Article 11a of the Council Regulation,
(f) the notification or supply of information to, or cooperation with, the competent authority, or,
(g) the participation in activities to circumvent the requirements of the Council Regulation as regards paragraph (a), (b), (c), (d), (e) or (f).
num: 4
paragraphs: Notwithstanding Regulation 3, a person who has received an authorisation under Article 3, 5, 6, 8, 9 or 10 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.
num: 5
paragraphs: The Central Bank and Financial Services Authority 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.
num: 6
paragraphs: A person who fails to comply with a direction or an instruction issued under Regulation 5 commits an offence.
num: 7
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 the 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, commits an offence and is liable to be proceeded against and punished as if he or she committed the first mentioned offence.
num: 8
paragraphs: A person guilty of an offence under these Regulations is liable—
(a) on summary conviction, to a fine not exceeding €5,000 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.
num: 9
paragraphs: The European Communities (Iran) (Financial Sanctions) Regulations(No. 2) 2008 ( S.I. No. 265 of 2008 ) are revoked.