European Communities (Iraq) (Financial Sanctions) Regulations 2008
Statutory Instruments
Source: Statutory Instruments

num: 1
paragraphs: These Regulations may be cited as the European Communities (Iraq) (Financial Sanctions) Regulations 2008.
num: 2
paragraphs: (1) In these Regulations—
(i) Council Regulation (EC) No. 1799/2003 of 13 October 2003 2 ,
(ii) Commission Regulation (EC) No. 2119/2003 of 2 December 2003 3 ,
(iii) Commission Regulation (EC) No. 2204/2003 of 17 December 2003 4 ,
(iv) Commission Regulation (EC) No. 924/2004 of 29 April 2004 5 ,
(v) Commission Regulation (EC) No. 979/2004 of 14 May 2004 6 ,
(vi) Commission Regulation (EC) No. 1086/2004 of 9 June 2004 7 ,
(vii) Council Regulation (EC) No. 1412/2004 of 3 August 2004 8 ,
(viii) Commission Regulation (EC) No. 1087/2005 of 8 July 2005 9 ,
(ix) Commission Regulation (EC) No. 1286/2005 of 3 August 2005 10 ,
(x) Commission Regulation (EC) No. 785/2006 of 23 May 2006 11 , and
(xi) Council Regulation (EC) No. 195/2008 of 3 March 2008 12 .
(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 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).
num: 4
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.
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 shall be guilty of 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 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.
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 (Iraq) (Financial Sanctions) Regulations 2006 ( S.I. No. 424 of 2006 ) are revoked.