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Council Regulation (EU) No 224/2014 of 10 March 2014 concerning restrictive measures in view of the situation in the Central African Republic article 8 CELEX: 02014R0224-20250326 By way of derogation from Article 5, the competent authorities of the Member States may authorise the release of certain frozen funds or economic resources where the following conditions are met: (a) the funds or economic resources in question are the subject of a judicial, administrative or arbitral lien established prior to the date on which the person, entity or body referred to in Article 5 was listed in Annex I, or of a judicial, administrative or arbitral judgment handed down prior to that date; (b) the funds or economic resources in question will be used exclusively to satisfy claims secured by such a lien or recognised as valid in such a judgment, within the limits set by applicable laws and regulations governing the rights of persons having such claims; (c) the lien or judgment is not for the benefit of a natural or legal person, entity or body listed in Annex I; (d) recognition of the lien or judgment is not contrary to public policy in the Member State concerned; and
(e) the Sanctions Committee has been notified by the Member State of the lien or judgment. |