Definition: In this task, you are provided with an article of the legal acts. Your task is to classify it into three categories (Regulation, Decision and Directive) based on its content: 1) Regulation is a binding legislative act that must be applied in its entirety on a set date across all the member states (European Union countries). 2) Decision is binding on those to whom it is addressed (e.g. an European Union country or an individual company) and is directly applicable. 3) Directive is a legislative act that sets out a goal that all must achieve. However, it is up to the individual countries to devise their own laws on how to reach these goals.
Input: Ireland is authorized on a temporary basis to maintain the restrictions on the acquisition by residents of foreign securities dealt in on a stock exchange and on the use of the proceeds of liquidation thereof, provided that: - the entire proceeds of liquidation of foreign securities can be sold on the investment currency market;- the repayment of funds borrowed in investment currency to buy securities issued by the Communities or by the European Investment Bank and quoted on a stock exchange, can be made:from the proceeds of liquidation, or by purchasing funds on the investment currency market, or, where the repayment is made over a period of five years, by purchasing funds at the official exchange rate. 1. The Commission shall keep under close review the development of the economic situation in Ireland. It shall investigate the situation and the effects of the measures authorized herein not later than 31 December 1978.2. The Commission reserves the right to amend or revoke this Decision if it finds that the conditions on which it was based have changed or that the effects of the Decision are more restrictive than is necessary to achieve its purpose. This Decision is addressed to Ireland.
Output:
Decision