The Federal Republic of Yugoslavia (Freezing of Funds and Prohibition on Investment) (Amendment) Regulations 2000

Statutory Instruments

2000 No. 1367

CRIMINAL LAW, ENGLAND AND WALES

CRIMINAL LAW, NORTHERN IRELAND

CRIMINAL LAW, SCOTLAND

The Federal Republic of Yugoslavia (Freezing of Funds and Prohibition on Investment) (Amendment) Regulations 2000

Made

19th May 2000

Laid before Parliament

19th May 2000

Coming into force

20th May 2000

Whereas the Treasury are a government department designated(1) for the purposes of section 2(2) of the European Communities Act 1972(2) in relation to (i) measures relating to the interruption or reduction, in part or completely, of economic relations with one or more countries which are not Member States, and (ii) measures relating to the movement of capital and to payments, between Member States and between Member States and countries which are not Member States;

Now, therefore, the Treasury, in exercise of the powers conferred on them by that section, hereby make the following Regulations:

Citation and commencement

1.  These Regulations may be cited as the Federal Republic of Yugoslavia (Freezing of Funds and Prohibition on Investment) (Amendment) Regulations 2000, and shall come into force on the day after the day on which they are made.

Amendment of the 1999 Regulations

2.  The Federal Republic of Yugoslavia (Freezing of Funds and Prohibition on Investment) Regulations 1999(3) are amended as follows:

(a) for regulation 1(2)(b) there is substituted—

“(b) “the EC Regulation” means Council Regulation (EC) No. 1294/1999 of 15 June 1999 concerning a freeze of funds and a ban on investment in relation to the Federal Republic of Yugoslavia (FRY)(4), as amended by Council Regulation (EC) No. 723/2000 of 6 April 2000(5).”;

(b) in regulation 2, the existing provision shall constitute paragraph (1) and the following paragraph is added—

“(2) Any person who, without reasonable excuse, commits a breach of Article 6(1) of the EC Regulation shall be guilty of an offence.”;

(c) in regulation 3, for “Article 8(2)” there is substituted “Article 8(4)”;

(d) in regulation 5—

(i) in paragraph (1), for “regulation 2” there is substituted “regulation 2(1)”;

(ii) in paragraph (2), after “under” there is inserted “regulation 2(2) above or”;

(e) in the Schedule, in paragraph 1(2), for “Article 7(4)” there is substituted “ Article 7(5)”.

Clive Betts

Bob Ainsworth

Two of the Lords Commissioners of Her Majesty’s Treasury

19th May 2000

Explanatory Note

(This note is not part of the Regulations)

These Regulations amend the Federal Republic of Yugoslavia (Freezing of Funds and Prohibition on Investment) Regulations 1999 (S.I. 1999/1786), which give practical effect to Council Regulation (EC) No. 1294/1999 concerning a freeze of funds and a ban on investment in relation to the Federal Republic of Yugoslavia (“the EC Regulation”). The EC Regulation has been amended by Council Regulation (EC) No. 723/2000, and these Regulations make consequential changes to S.I. 1999/1786, by amending the numbering of cross-references, and by providing for breach of the new Article 6 (requirement to provide information to facilitate compliance with the EC Regulation) to be a criminal offence.

(1)

S.I. 1994/757.

(2)

1972 c. 68.

(3)

S.I. 1999/1786.

(4)

O.J. L153, 19.6.1999, p. 63.

(5)

O.J. L86, 7.4.2000, p. 1.