Council Regulation (EU) No 267/2012Show full title

Article 30

1. Transfers of funds to and from an Iranian person, entity or body shall be processed as follows:

(a) transfers due on transactions regarding foodstuffs, healthcare, medical equipment, or for humanitarian purposes shall be carried out without any prior authorisation. The transfer shall be notified in advance in writing to the competent authorities if above EUR 10 000 or equivalent;

(b) any other transfer below EUR 40 000 shall be carried out without any prior authorisation. The transfer shall be notified in advance in writing to the competent authorities if above EUR 10 000 or equivalent;

(c) any other transfer of or above EUR 40 000 or equivalent shall require a prior authorisation of the competent authorities.

2. Paragraph 1 shall apply regardless of whether the transfer of funds is executed in a single operation or in several operations which appear to be linked. For the purpose of this Article, "operations which appear to be linked" includes:

(i)

a series of consecutive transfers from or to the same Iranian person, entity or body which are made in connection with a single obligation to a transfer of funds, where each individual transfer falls below the threshold set out in paragraph 1 but which, in the aggregate, meet the criteria for notification or authorisation; or

(ii)

a chain of transfers involving different payment service providers or natural or legal persons which effects a single obligation to make a transfer of funds.

3. Notifications and requests for authorisation relating to the transfer of funds shall be processed as follows:

(a) In the case of electronic transfers of funds processed by credit or financial institutions, notifications and requests for authorisation relating to the transfer of funds shall be processed as follows:

(i)

Notifications and requests for authorisation relating to the transfer of funds to an Iranian person, entity or body which is located outside the Union, shall be addressed by or on behalf of the payment service provider of the payer to the competent authorities of the Member State where the initial order to execute the transfer is given.

(ii)

Notifications and requests for authorisation relating to the transfer of funds from an Iranian person, entity or body which is located outside the Union, shall be addressed by or on behalf of the payment service provider of the payee to the competent authorities of the Member State in which the payee is resident or the payment service provider is established.

(iii)

If the payment service provider of the payer or of the payee does not fall under the scope of Article 49, notifications and requests for authorisation shall be addressed, in the case of a transfer to an Iranian person, entity or body, by the payer, and in the case of a transfer from an Iranian person, entity or body by the payee to the competent authorities of the Member State in which, respectively, the payer or payee is resident.

(iv)

Notifications and requests for authorisation relating to the transfer of funds to an Iranian person, entity or body which is located within the Union, shall be addressed by or on behalf of the payment service provider of the payee to the competent authorities of the Member States in which the payee is resident or the payment service provider is established.

(v)

Notifications and requests for authorisation relating to the transfer of funds from an Iranian person, entity or body which is located within the Union, shall be addressed by or on behalf of the payment service provider of the payer to the competent authorities of the Member States where the initial order to execute the transfer is given.

(vi)

In relation to a transfer of funds to or from an Iranian person, entity or body where none of the payer, payee or their respective payment service providers fall under the scope of Article 49 but a payment service provider which does fall under the scope of that Article acts as an intermediary, then that payment service provider must comply with the obligation to notify or seek authorisation, as applicable, if it knows or has reasonable cause to suspect that the transfer is to or from an Iranian person, entity or body. Where there is more than one payment service provider acting as an intermediary, only the first payment service provider to process the transfer is required to comply with the obligation to notify or seek authorisation, as applicable. Any notification or request for authorisation must be addressed to the competent authorities of the Member State in which the payment service provider is established.

(vii)

Where there is more than one payment service provider involved in a series of linked transfers of funds, transfers within the Union shall include a reference to the authorisation granted under this Article.

(b) In the case of transfers of funds which are effected by non-electronic means, notifications and requests for authorisation relating to the transfer of funds shall be processed as follows:

(i)

Notifications and requests for authorisation relating to transfers to an Iranian person, entity or body shall be addressed by the payer to the competent authorities of the Member State where the payer is resident.

(ii)

Notifications and requests for authorisation relating to the transfers from an Iranian person, entity or body shall be addressed by the payee to the competent authorities of the Member State in which the payee is resident.

4. For the purposes of paragraph 1(c), the competent authorities shall grant, under such terms and conditions as they deem appropriate, an authorisation for a transfer of funds having a value of EUR 40 000 or more, unless they have reasonable grounds to determine that the transfer of funds for which the authorisation is requested could be in breach of any of the prohibitions or obligations in this Regulation.

A competent authority may charge a fee for the assessment of requests for authorisation.

An authorisation shall be deemed granted if a competent authority has received a request in writing for authorisation and, within four weeks, the competent authority has not objected in writing to the transfer of funds. If the objection is raised because an investigation is pending, the competent authority shall state this and communicate its decision without delay. The competent authorities shall have access, directly or indirectly, on a timely basis to the financial, administrative and law enforcement related information necessary for carrying out the investigation.

The Member State concerned shall inform the other Member States and the Commission of authorisations rejected.

5. This article shall not apply where an authorisation has been granted in accordance with Article 24, 25, 26, 27, or 28.

6. Persons, entities or bodies who merely convert paper documents into electronic data and are acting under a contract with a credit institution or a financial institution do not fall within the scope of this Article, nor does any natural or legal person, entity or body that provides credit or financial institutions solely with a message or other support system for transmitting funds or with clearing and settlement systems.