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1. ‘contract or transaction’ means any transaction of whatever form and whatever the. applicable law, whether comprising one or more contracts or similar obligations made between the same or different parties; for this purpose ‘contract’ includes a bond, financial guarantee and indemnity or credit whether legally independent or not and any related provision arising under or in connection with the transaction; 2. ‘claim’ means any claim, whether asserted by legal proceedings or not, made before or after the date of entry into force of this Regulation, under or in connection with a contract or transaction, and in particular includes:

(a) a claim for performance of any obligation arising under or in connection with a contract or transaction;

(b) a claim for extension or payment of a bond, financial guarantee or indemnity of whatever form;

(c) a claim for compensation in respect of a contract or transaction;

(d) a counterclaim;

(e) a claim for the recognition or enforcement, including by the procedure of exequatur, or a judgment, an arbitration award or an equivalent decision, wherever made or given; 3.

‘measures decided on pursuant to United Nations Security Council Resolution 661 (1990) and related resolutions’ means measures of the United Nations Security Council or measures introduced by the European Communities or any State, country or international organization in conformity with, as required by, or in connection with the implementation of relevant decisions of the United Nations Security Council, or any action, including any military action, authorized by the United Nations Security Council, in respect of the invasion or occupation of Kuwait by Iraq; 4. ‘person or body in Iraq’ means:

(a) the Iraqi State or any Iraqi public authority;

(b) any person in, or resident in, Iraq;

(c) any body having its registered office or headquarters in Iraq;

(d) any body controlled, directly or indirectly, by one or more of the abovementioned persons or bodies. Without prejudice to Article 2, performance of a contract or transaction shall also be regarded as having been affected by the measures decided on pursuant to United Nations Security Council Resolution 661 (1990) and related resolutions where the existence or content of the claim results directly or indirectly from those measures.