Considerations on JOIN(2012)38 - Amendment of Regulation (EC) No 1210/2003 concerning certain specific restrictions on economic and financial relations with Iraq

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dossier JOIN(2012)38 - Amendment of Regulation (EC) No 1210/2003 concerning certain specific restrictions on economic and financial relations with ...
document JOIN(2012)38 EN
date January 31, 2013
 
table>(1)In line with United Nations Security Council (UNSC) Resolution 1483 (2003), Article 4 of Council Regulation (EC) No 1210/2003 of 7 July 2003 concerning certain specific restrictions on economic and financial relations with Iraq (2) freezes in particular the funds and economic resources of Saddam Hussein and other senior officials of the former Iraqi regime.
(2)In accordance with paragraph 23 of UNSC Resolution 1483 (2003), Article 6(2) of Regulation (EC) No 1210/2003 allows the Member States to unfreeze such funds and economic resources for the purpose of their transfer to the Development Fund for Iraq.

(3)On 15 December 2010, the UNSC adopted Resolution 1956 (2010) by which it decided under paragraph 5 that the full proceeds from the Development Fund for Iraq should be transferred to the Government of Iraq’s successor arrangements account or accounts and that the Development Fund for Iraq should be terminated no later than 30 June 2011.

(4)It is appropriate to amend Regulation (EC) No 1210/2003 to permit the transfer of frozen funds, other financial assets or economic resources to the successor arrangements to the Development Fund for Iraq put in place by the Government of Iraq under the conditions set out in UNSC Resolutions 1483 (2003) and 1956 (2010).

(5)It is also appropriate to update Regulation (EC) No 1210/2003 with recent information provided by the Member States regarding the identification of competent authorities and the address for notifications to the Commission.

(6)Regulation (EC) No 1210/2003 should therefore be amended accordingly,