S.I. No. 133/2003 - European Communities (Zimbabwe) (Sanctions) Regulations 2003

I, Charlie McCreevy, 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 further effect to Council Regulation (EC) No. 310/2002 of 18 February 2002¹ as extended by Council Regulation (EC) No 313/2003 of 18 February 2003² , hereby make the following regulations:

1.        These Regulations may be cited as the European Communities (Zimbabwe (Sanctions) Regulations 2003.

2.        (1)        In these Regulations -

“Central Bank” means Central Bank of Ireland;

“Council Regulation” means Council Regulation (EC) No. 310/2002 of 18 February 2002¹ as extended by Council Regulation (EC) No. 313/2003 of 18 February 2003² .

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

(3)       In these Regulations, unless otherwise indicated, a reference to a Regulation is a reference to a Regulation in these Regulations.

3.        Subject to Regulation 5, a person transferring funds, financial assets or economic resources which are frozen by virtue of the Council Regulation shall be guilty of an offence.

4.        Subject to Regulation 5, a person making available funds, financial assets or economic resources, either directly or indirectly, to or for the benefit of any natural or legal person listed in Annex 1 to the Council Regulation, shall be guilty of an offence.

5.        (1)        Regulations 3 and 4 shall not apply —

(a)     in a case where a specific authorisation has been granted in accordance with Article 5 of the Council Regulation, and

(b)     in a case to which Article 4 of the Council Regulation refers, and conclusive evidence of the fulfilment of the conditions specified in that Article is furnished to each financial institution, person or body who makes, assists in or promotes the financial transaction prior to the effecting of the transaction concerned.

(2)       A financial institution, person or body who makes, assists or promotes a financial transaction referred to in paragraph (1)(b) shall not make, assist in or promote such a transaction prior to receiving the conclusive evidence referred to in paragraph (1)(b).

(3)       Each financial institution, person, or body involved in a transaction referred to in paragraph (1) shall retain for inspection by the Central Bank, the conclusive evidence referred to in paragraph (1)(b) for a period of 5 years from the date of the transaction concerned.

(4)       A financial institution, person or body which does not comply with paragraph (2) or paragraph (3) shall be guilty of an offence.

6.        The Central Bank may, for the purposes of the supervision of financial transfers and for the administration and enforcement of the provisions of these Regulations, give such directions or issue such instructions to a person as it sees fit.

7.        A person to whom a direction has been given or an instruction issued under Regulation 6 shall comply with such direction or instruction.

8.        A person who fails to comply with a direction or an instruction issued under Regulation 6 shall be guilty of an offence.

9.        A person guilty of an offence pursuant to Regulation 3, Regulation 4, Regulation 5 or Regulation 8 of these Regulations shall be liable on summary conviction to a fine not exceeding €3,000 or to imprisonment for a term not exceeding 12 months or to both.

10.      Where an offence under these Regulations is committed by a body corporate and is proved to have been so committed with the consent, connivance or approval of or to have been attributable to any neglect 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 as well as the body corporate, shall 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.

11.      The European Communities (Zimbabwe)(Sanctions) Regulations 2002 [ S.I. No. 282 of 2002 ] are revoked

Explanatory Note

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

The Regulations provide for penalties for breach of financial sanctions against senior members of the Zimbabwean government imposed by Council Regulation (EC) No. 310/2002 of 18 February 2002 which was extended for a further 12 months with effect from 21 February 2003 by Council Regulation (EC) No. 313/2003 of 18 February 2003.

¹ O.J. No. L50, 21.2.2002, p.4

² O.J. No. L46. 20.2.2003, p.6.

¹ O.J. No. L50, 21.2.2002, p.4

² O.J. No. L46. 20.2.2003, p.6.