PART FIVE

THE UNION'S EXTERNAL ACTION
TITLE IV

RESTRICTIVE MEASURES

(ex Article 301 TEC)
Article 215
1
Where a decision, adopted in accordance with Chapter 2 of Title V of the Treaty on European Union, provides for the interruption or reduction, in part or completely, of economic and financial relations with one or more third countries, the Council, acting by a qualified majority on a joint proposal from the High Representative of the Union for Foreign Affairs and Security Policy and the Commission, shall adopt the necessary measures. It shall inform the European Parliament thereof.
2
Where a decision adopted in accordance with Chapter 2 of Title V of the Treaty on European Union so provides, the Council may adopt restrictive measures under the procedure referred to in paragraph 1 against natural or legal persons and groups or non-State entities.
3
The acts referred to in this Article shall include necessary provisions on legal safeguards.
Substituted by Procès-verbal of rectification to the Treaty of Lisbon amending the Treaty on European Union and the Treaty establishing the European Community, signed at Lisbon on 13 December 2007 (Official Journal of the European Union C 306 of 17 December 2007) (2009/C 290/01)This rectification has been carried out by means of a procès-verbal of rectification signed at Rome on 27 November 2009 with the Government of the Italian Republic as depository..