CELEX: C2005/330/04
Language: en
Date: 2005-12-24 00:00:00
Title: Judgment of the Court (First Chamber) of  27 October 2005  in Case C-329/03 Reference for a preliminary ruling from the Arios Pagos (Greece), Trapeza tis Ellados AE v Banque Artesia (Free movement of capital — First Council Directive of  11 May 1960  — Acquisition of bonds dealt in on a stock exchange — Repatriation of the proceeds of their liquidation)

24.12.2005   
            
            
               EN
            
            
               Official Journal of the European Union
            
            
               C 330/2
            
         
      JUDGMENT OF THE COURT
   
   (First Chamber)
   of 27 October 2005
   in Case C-329/03 Reference for a preliminary ruling from the Arios Pagos (Greece), Trapeza tis Ellados AE v Banque Artesia (1)
   
   (Free movement of capital - First Council Directive of 11 May 1960 - Acquisition of bonds dealt in on a stock exchange - Repatriation of the proceeds of their liquidation)
   (2005/C 330/04)
   Language of the case: Greek
   In Case C-329/03: reference for a preliminary ruling under Article 234 EC from the Arios Pagos (Greece), made by decision of 31 March 2003, received at the Court on 28 July 2003, in the proceedings pending before that court between Trapeza tis Ellados AE and Banque Artesia — the Court (First Chamber), composed of: P. Jann, President of the Chamber, N. Colneric, K. Schiemann, E. Juhász and M. Ilešič (Rapporteur), Judges; F.G. Jacobs, Advocate General, L. Hewlett, Principal Administrator, for the Registrar, gave a judgment on 27 October 2005, the operative part of which is as follows:
   
               1.
            
            
               Bonds denominated in national currency for a term of one year from their issue, dealt in and quoted on a stock exchange, issued by a bank established in a Member State and belonging to that State, fall within List B, Item IV A of Annex I to the First Council Directive of 11 May 1960 for the implementation of Article 67 of the Treaty. Their acquisition and the proceeds of their liquidation are governed by Article 2 of that directive, which refers to List B of Annex I to the directive, which provides for the repatriation of those proceeds.
            
         
               2.
            
            
               The fact that an acquisition of bonds falling within List B, Item IV A of Annex I to the First Directive was financed using balances on current or deposit account with a credit institution, even if falling within List D, Item IX of that annex, cannot have an influence on the classification of the capital movement in question under List B, Item IV A of that annex.
            
         
      (1)  OJ C 239 of 04.10.2003.