CELEX: 52012JC0032
Language: en
Date: 2012-11-08
Title: Joint Proposal for a COUNCIL REGULATION amending Regulation (EU) No 270/2011 of 21 March 2011 concerning restrictive measures directed against certain persons, entities and bodies in view of the situation in Egypt

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		52012JC0032
		
			Joint Proposal for a COUNCIL REGULATION amending Regulation (EU) No 270/2011 of 21 March 2011 concerning restrictive measures directed against certain persons, entities and bodies in view of the situation in Egypt /* JOIN/2012/032 final - 2012/0317 (NLE) */
			
				
		
		
			
			   	EXPLANATORY MEMORANDUM
(1)              
On 21 March 2011, the Council adopted Council Decision
2011/172/CFSP concerning restrictive measures directed against certain persons,
entities and bodies in view of the situation in Egypt. 
(2)              
Council Decision 2012/…/CFSP of ….provides for
an amendment to the derogations given in Article 1 of Council Decision 2011/172/CFSP
to expand their scope to permit the release of funds and economic resources
where they are required to satisfy a judicial or administrative decision rendered
in the EU, or a judicial decision enforceable in a Member State.
(3)              
An amendment to Regulation (EU) No 270/2011 of
21 March 2011 concerning restrictive measures directed against persons,
entities and bodies in view of the situation in Egypt is necessary to give effect
to this Decision. 
(4)              
Article 9 of Regulation (EU) No 270/2011
concerns information sharing by persons, entities and bodies in order to
facilitate compliance with the Regulation. In accordance with Article 9(2), information
provided or received shall be used only for the purposes for which it was
provided or received. This amendment clarifies that this does not prevent Member
States from sharing such information with Egypt and other Member States in
accordance with national law in order to assist the recovery of misappropriated
assets in certain circumstances. 
(5)              
The High Representative of the Union for Foreign
Affairs and Security Policy and the European Commission propose to amend Regulation
(EU) No 270/2011 of 21 March 2011 accordingly.
2012/0317 (NLE)
Joint Proposal for a
COUNCIL REGULATION
amending Regulation (EU) No 270/2011 of 21
March 2011 concerning restrictive measures directed against certain persons,
entities and bodies in view of the situation in Egypt

THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty on the
Functioning of the European Union, and in particular Article 215 thereof, 
Having regard to Council Decision 2011/172/CFSP
of 21 March 2011 concerning restrictive measures against persons, entities and
bodies in view of the situation in Egypt,[1]
Having regard to the joint proposal from
the High Representative of the Union for Foreign Affairs and Security Policy
and the European Commission,
Whereas:
(1)       Council Regulation (EU) No
270/2011 of 21 March 2011 concerning restrictive measures directed against
certain persons, entities and bodies in view of the situation in Egypt[2] gives effect to the measures
provided for in Council Decision 2011/172/CFSP.. 
(2)       Council Decision 2012/…/CFSP/
of …. provides for an amendment to Council Decision 2012/172/CFSP to enable the
release of frozen funds and economic resources where they are required to
satisfy a judicial or administrative decision rendered in the EU, or a judicial
decision enforceable in a Member State.
(3)       Article 9 of Council Regulation
(EU) No 270/2011 concerns information to be shared by persons, entities and
bodies with the competent authorities of Member States, which shall be
transmitted to the Commission, in order to facilitate compliance with the Regulation.
In accordance with Article 9(2), information provided or received shall be used
only for the purposes for which it was provided or received. This shall not
prevent Member States from sharing such information with Egypt and other Member
States under national law where necessary and for the sole purpose of assisting
the recovery of misappropriated assets. 
(4)       Regulation (EU) No 270/2011
should therefore be amended accordingly,
HAS ADOPTED THIS REGULATION:
Article 1
Regulation (EU) No 270/2011 is amended as
follows:
(1)                   
Article 5 shall be replaced by the following:
"Article 5
1. By way of derogation from Article 2, the
competent authorities in Member States, as indicated on the websites listed in
Annex II, may authorise the release of certain frozen funds or economic
resources, if the following conditions are met:
(a) the funds or economic resources are subject
of an arbitral decision rendered prior to the date on which the natural or
legal person, entity or body referred to in Article 2 was listed in Annex I, or
of a judicial or administrative decision rendered in the EU, or a judicial
decision enforceable in the Member State concerned, prior to or after that
date;
(b) the funds or economic resources will be
used exclusively to satisfy claims secured by such a decision or recognised as
valid in such a decision, within the limits set by applicable laws and
regulations governing the rights of persons having such claims;
(c) the decision is not for the benefit of a
natural or legal person, entity or body listed in Annex I;
(d) recognising the decision is not contrary to
public policy in the Member State concerned.
2. The competent authority will inform the
competent authority of the other Member States and the Commission of any
authorisation granted under this Article."
Article 2
(2)                   
After Article 9(2) the following paragraph 3
shall be added:
3.         Paragraph 2 shall not prevent
Member States from sharing that information in accordance with their national
law with Egypt and other Member States where necessary and for the sole purpose
of assisting the recovery of misappropriated assets.
Article 3
This Regulation shall enter into force on
the day following that of its publication in the Official Journal of the
European Union.
This
Regulation shall be binding in its entirety and directly applicable in all
Member States.
Done at Brussels, 
                                                                       For
the Council
                                                                       The
President
[1]               OJ L 76, 22.3.2011. p. 63.
[2]               OJ L 76, 22.3.2011, p. 4.