Notice of the making of this Statutory Instrument was published in

"Iris Oifigiúil" of 3rd January, 2014.

I, MICHAEL NOONAN, Minister for Finance, in exercise of the powers conferred on me by section 3 of the European Communities Act 1972 (No. 27 of 1972) and for the purpose of giving full effect to Council Regulation (EC) No. 1210/2003 of 7 July 2003¹ , as last amended by Council Regulation (EU) No. 85/2013 of 31 January 2013² , hereby make the following regulations:

1. These Regulations may be cited as the European Union (Iraq) (Financial Sanctions) Regulations 2013.

2. (1) In these Regulations-

"Council Regulation" means Council Regulation (EC) No. 1210/2003 of 7 July 20031, as amended by-

(a) Council Regulation (EC) No. 1799/2003 of 13 October 2003³ ,

(b) Commission Regulation (EC) No. 2119/2003 of 2 December 2003⁴ ,

(c) Commission Regulation (EC) No. 924/2004 of 29 April 2004⁵ ,

(d) Commission Regulation (EC) No. 979/2004 of 14 May 2004⁶ ,

(e) Commission Regulation (EC) No. 1086/2004 of 9 June 2004⁷ ,

(f) Council Regulation (EC) No. 1412/2004 of 3 August 2004⁸ ,

(g) Council Regulation (EC) No. 1566/2004 of 31 August 2004⁹ ,

(h) Commission Regulation (EC) No. 1087/2005 of 8 July 2005¹⁰ ,

(i) Commission Regulation (EC) No. 1286/2005 of 3 August 2005¹¹ ,

(j) Commission Regulation (EC) No. 785/2006 of 23 May 2006¹² ,

(k) Council Regulation (EC) No. 195/2008 of 3 March 2008¹³ ,

(l) Council Regulation (EC) No. 175/2009 of 5 March 2009¹⁴ ,

(m) Council Regulation (EU) No. 168/2010 of 1 March 2010¹⁵ ,

(n) Council Regulation (EU) No. 131/2011 of 14 February 2011¹⁶ ,

(o) Commission Implementing Regulation (EU) No. 88/2012 of 1 February 2012¹⁷ , and

(p) Council Regulation (EU) No. 85/2013 of 31 January 20132.

(2) A word or expression used in these Regulations that is also used in the Council Regulation has, unless the context otherwise requires, the same meaning in these Regulations as it has in the Council Regulation.

3. For the purposes of these Regulations and the Council Regulation the Central Bank of Ireland shall be the competent authority in the State.

4. Subject to Regulation 5, a person who contravenes the provisions of the Council Regulation as regards-

(a) the transfer of funds to the Development Fund for Iraq,

(b) the freezing of funds or economic resources,

(c) the making available of funds or economic resources,

(d) the supply of information to or cooperation with the competent authorities, or

(e) the participation in activities to circumvent the requirements of the Council Regulation as regards paragraph (a), (b), (c) or (d),

shall be guilty of an offence.

5. Notwithstanding Regulation 4, a person who has been granted or is deemed to have been granted an authorisation under Article 6 of the Council Regulation may, subject to compliance with the terms and conditions of such authorisation, do such of the things as are so authorised.

6. A person guilty of an offence under Regulation 4 shall be liable-

(a) on summary conviction, to a class A fine or imprisonment for a term not exceeding 12 months or both, or

(b) on conviction on indictment, to a fine not exceeding €500,000 or imprisonment for a term not exceeding 3 years or both.

7. The Central Bank of Ireland may, for the purposes of the administration and enforcement of the Council Regulation or these Regulations, give such directions or issue such instructions to a person as it sees fit.

8. A person who fails to comply with a direction given or an instruction issued under Regulation 7 shall be guilty of an offence and shall be liable on summary conviction to a class A fine or imprisonment for a term not exceeding 6 months or both.

9. Where a body corporate is guilty of an offence under these Regulations and the offence is proved to have been committed with the consent or connivance on the part of any person, being a director, manager, secretary or other officer of the body corporate, or a person who was purporting to act in any such capacity, that person shall, as well as the body corporate, be guilty of an offence and shall be liable to be proceeded against and punished as if he or she were guilty of the first mentioned offence.

10. The European Union (Iraq) (Financial Sanctions) Regulations 2012 ( S.I. No. 64 of 2012 ) are revoked.

GIVEN under my Official Seal,

18 December 2013.

MICHAEL NOONAN,

Minister for Finance.

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

These Regulations provide for enforcement of financial sanctions contained in Council Regulation (EC) No. 1210/2003 of 7 July 2003, as amended, concerning restrictive measures against Iraq.

These Regulations also provide that the Central Bank of Ireland may issue instructions for the purpose of giving full effect to the financial sanctions.

They create offences for breach of the Council Regulation or for failure to comply with the instructions of the Central Bank of Ireland with regard to implementation of the sanctions and they provide for appropriate penalties.

1 OJ No. L 169, 8.7.03, p. 6

2 OJ No. L 32, 1.2.13, p. 1

3 OJ No. L 264, 15.10.03, p. 12

4 OJ No. L 318, 3.12.03, p. 9

5 OJ No. L 163, 30.4.04, p. 100

6 OJ No. L 180, 15.5.04, p. 9

7 OJ No. L 207, 10.6.04, p. 10

8 OJ No. L 257, 4.8.04, p. 1

9 OJ No. L 285, 4.9.04, p. 6

10 OJ No. L 177, 9.7.05, p. 32

11 OJ No. L 203, 4.8.05, p. 17

12 OJ No. L 138, 25.5.06, p. 7

13 OJ No. L 59, 4.3.08, p. 1

14 OJ No. L 62, 6.3.09, p. 1

15 OJ No. L 51, 2.3.10, p. 1

16 OJ No. L 41, 15.2.11, p. 1

17 OJ No. L 30, 2.2.12, p. 11