4.3.2008 EN Official Journal of the European Union L 59/1
COUNCIL REGULATION (EC) No 195/2008
of 3 March 2008
amending Regulation (EC) No 1210/2003 concerning certain specific restrictions on economic and financial relations with Iraq
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 2008/186/CFSP of 3 March 2008 amending Common Position 2003/495/CFSP on Iraq (1),
Having regard to the proposal from the Commission,
Whereas:
(1) In accordance with United Nations Security Council (UNSC) Resolution 1483 (2003), Article 2 of Council Regulation (EC) No 1210/2003 (2) made specific arrangements as regards payments for petroleum, petroleum products, and natural gas exported from Iraq, whilst Article 10 of that Regulation made specific arrangements concerning immunity from legal proceedings of certain Iraqi assets. The specific arrangements on payments continue to apply, whilst the specific arrangements on immunities applied until 31 December 2007.
(2) UNSC Resolution 1790 (2007) and Common Position 2008/186/CFSP provide that both of these specific arrangements are to apply until 31 December 2008. Regulation (EC) No 1210/2003 should therefore be amended accordingly.
(3) It is also appropriate to align Regulation (EC) No 1210/2003 with recent developments in sanctions practice regarding the identification of competent authorities, liability for infringements and jurisdiction. For the purpose of this Regulation, the territory of the Community is deemed to encompass the territories of the Member States to which the Treaty is applicable, under the conditions laid down in the Treaty.
(4) In order to ensure that the measures provided for in this Regulation are effective, this Regulation should enter into force immediately,
Regulation (EC) No 1210/2003 is hereby amended as follows:
1. Article 2 shall be replaced by the following:
2. the following Article shall be inserted:
3. Article 6 shall be replaced by the following:
(a) the funds or economic resources are the subject of a judicial, administrative or arbitral lien established prior to 22 May 2003 or of a judicial, administrative or arbitral judgment rendered prior to that date;
(b) the funds or economic resources will be used exclusively to satisfy claims secured by such a lien or recognised as valid in such a judgment, within the limits set by applicable laws and regulations governing the rights of persons having such claims;
(c) satisfying the claim is not in breach of Regulation (EEC) No 3541/92; and
(d) recognising the lien or judgment is not contrary to public policy in the Member State concerned.
4. Article 7 shall be replaced by the following:
5. Article 8 shall be replaced by the following:
(a) provide immediately any information which would facilitate compliance with this Regulation, such as accounts and amounts frozen in accordance with Article 4, to the competent authorities indicated in the websites listed in Annex V, in the Member State where they are resident or located, and, directly or through these competent authorities, to the Commission;
(b) cooperate with the competent authorities indicated in the websites listed in Annex V, in any verification of this information.
6. the following Article shall be inserted:
7. Article 16 shall be replaced by the following:
(a) within the territory of the Community, including its airspace;
(b) on board any aircraft or any vessel under the jurisdiction of a Member State;
(c) to any person inside or outside the territory of the Community who is a national of a Member State;
(d) to any legal person, entity or body which is incorporated or constituted under the law of a Member State; and
(e) to any legal person, entity or body in respect of any business done in whole or in part within the Community.’;
8. Article 18(3) shall be replaced by the following:
9. Annex V shall be replaced by the text appearing in the Annex to this Regulation.
This Regulation shall enter into force on the day 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.