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Council Regulation (EC) No 1210/2003 of 7 July 2003 concerning certain specific restrictions on economic and financial relations with Iraq and repealing Regulation (EC) No 2465/96 article 6 CELEX: 02003R1210-20240913 1. By way of derogation from Article 4, the competent authorities indicated in the websites listed in Annex V, may authorise the release of frozen funds or economic resources, if all of the following conditions are met: (a) the funds or economic resources are the subject of a judicial, administrative or arbitral lien established prior to 22 May 2003 or of a judicial, administrative or arbitral judgment rendered prior to that date; (b) the funds or economic resources 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) satisfying the claim is not in breach of Regulation (EEC) No 3541/92; and (d) recognising the lien or judgment is not contrary to public policy in the Member State concerned. |
Council Regulation (EC) No 1210/2003 of 7 July 2003 concerning certain specific restrictions on economic and financial relations with Iraq and repealing Regulation (EC) No 2465/96 article 6 CELEX: 02003R1210-20240913 2. In all other circumstances, funds, economic resources and proceeds of economic resources frozen pursuant to Article 4 shall only be unfrozen for the purpose of their transfer 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). |