Council Regulation (EU) No 168/2012Show full title

Article 1 U.K.

Regulation (EU) No 36/2012 is hereby amended as follows:

(1)

the following article is inserted:

‘Article 11a

1. It shall be prohibited:

(a) to sell, supply, transfer or export, directly or indirectly, gold, precious metals and diamonds, as listed in Annex VIII, whether or not originating in the Union, to the Government of Syria, its public bodies, corporations and agencies, the Central Bank of Syria, any person, entity or body acting on their behalf or at their direction, or any entity or body owned or controlled by them;

(b) to purchase, import or transport, directly or indirectly, gold, precious metals and diamonds, as listed in Annex VIII, whether the item concerned originates in Syria or not, from the Government of Syria, its public bodies, corporations and agencies, the Central Bank of Syria and any person, entity or body acting on their behalf or at their direction, or any entity or body owned or controlled by them; and

(c) to provide, directly or indirectly, technical assistance or brokering services, financing or financial assistance, related to the goods referred to in points (a) and (b), to the Government of Syria, its public bodies, corporations and agencies, the Central Bank of Syria and any person, entity or body acting on their behalf or at their direction, or any entity or body owned or controlled by them.

2. Annex VIII shall include gold, precious metals and diamonds subject to the prohibitions referred to in paragraph 1.’;

(2)

the following article is inserted:

‘Article 21a

The prohibitions in Article 14 shall not apply to:

(a)

(i)

a transfer by or through Central Bank of Syria of funds or economic resources received and frozen after the date of its designation; or

(ii)

a transfer of funds or economic resources to or through Central Bank of Syria where the transfer is related to a payment by a person or entity not listed in Annex II or IIa due in connection with a specific trade contract,

provided that the competent authority of the relevant Member State has determined, on a case-by-case basis, that the payment will not directly or indirectly be received by any other person or entity listed in Annex II or IIa; or

(b)

a transfer made by or through Central Bank of Syria of frozen funds or economic resources in order to provide financial institutions within the jurisdiction of the Member States with liquidity for the financing of trade, provided that the transfer has been authorised by the competent authority of the relevant Member State.’.