Proposal for a Council Regulation amending regulation (EC) No 817/2006 renewing the restrictive measures in respect of Burma/Myanmar and repealing Regulation (EC) No 798/2004
Date: 2006-08-07
Institutions: European Commission
Subjects: Myanmar/Burma, common foreign and security policy, economic sanctions, human rights, international sanctions, natural person

COMMISSION OF THE EUROPEAN COMMUNITIES 

Brussels, 7.8.2006 
COM(2006)445 final 

Proposal for a 

COUNCIL REGULATION 

amending Regulation (EC) No 817/2006 renewing the restrictive measures in respect of 
Burma/Myanmar and repealing Regulation (EC) No 798/2004 

(presented by the Commission) 

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EXPLANATORY MEMORANDUM 

(1) 

(2) 

(3) 

Council Regulation (EC) No 817/2006 renewing the restrictive measures in respect of 
Burma/Myanmar  and  repealing  Regulation  (EC)  No  798/2004  was  published  in  the 
Official Journal of the EU and entered into force on 2 June 2006.  

A  number  of  economic  operators  raised  the  question  as  to  why  a  provision  found  in 
Article  8  of  the  previous  Regulation,  Regulation  (EC)  No  798/2004,  had  not  been 
included  in  Regulation  (EC)  No  817/2006.  This  provision  permitted  the  crediting  of 
frozen  accounts  by  financial  institutions  of  transfers  by  third  parties  to  accounts  of 
listed persons or entities, provided that such credits are also frozen. 

This omission appears to be due to an oversight. The Commission proposes, therefore, 
to  add  the  aforementioned  provision  to  Council  Regulation  (EC)  No  817/2006,  with 
retroactive effect. 

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Proposal for a 

COUNCIL REGULATION 

amending Regulation (EC) No 817/2006 renewing the restrictive measures in respect of 
Burma/Myanmar and repealing Regulation (EC) No 798/2004 

THE COUNCIL OF THE EUROPEAN UNION, 

Having regard to the Treaty establishing the European Community, and in particular Articles 
60 and 301 thereof, 

Having  regard  to  Council  Common  Position  2006/318/CFSP  of  27  April  2006  renewing 
restrictive measures in respect of Burma/Myanmar1, 

Having regard to the proposal from the Commission2, 

Whereas: 

(1) 

(2) 

(3) 

Article 8 of Council Regulation (EC) No 798/2004 renewing the restrictive measures 
in  respect  of  Burma/Myanmar  and  repealing  Regulation  (EC)  No  1081/20003 
permitted  financial  institutions  that  received  funds  transferred  by  third  parties  to  the 
frozen  accounts  of  listed  persons  or  entities,  to  credit  those  funds  to  such  accounts, 
provided that such credits were also frozen.  

Council  Regulation  (EC)  No  817/20064  has  replaced  Regulation  (EC)  No  798/2004 
but due to an oversight it omitted that provision. Regulation (EC) No 817/2006 should 
therefore be amended to include such a provision. 

It  is  appropriate  for  this  Regulation  to  apply  from  the  date  on  which  Council 
Regulation (EC) No 817/2006 entered into force,  

HAS ADOPTED THIS REGULATION: 

Article 1 

In Article 7 of Regulation (EC) No 817/2006, the following paragraph 3 is added: 

"3.  Article 6(2) shall not prevent financial or credit institutions in the Community 
from crediting frozen accounts where they receive funds transferred by third parties 

1 
2 
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4 

OJ L 116, 29.4.2006, p.77. 
OJ C […], […], p. […]. 
OJ L 125, 28.4.2004, p.4. Regulation repealed by Regulation (EC) No 817/2006 (OJ L 148, 2.6.2006. p. 
1). 
OJ L 148, 2.6.2006, p. 1. 

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to  the  account  of  a  listed  natural  or  legal  person,  entity  or  body,  provided  that  any 
additions to such accounts will also be frozen. The financial or credit institution shall 
inform the competent authorities about such transactions without delay." 

Article 2 

This  Regulation  shall  enter  into  force  on  the  day  following  that  of  its  publication  in  the 
Official Journal of the European Union. 

It shall apply from 2 June 2006. 

This Regulation shall be binding in its entirety and directly applicable in all Member States. 

Done at Brussels,  

For the Council 
The President 

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