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Council Regulation (EU) No 267/2012 of 23 March 2012 concerning restrictive measures against Iran and repealing Regulation (EU) No 961/2010

article  24

CELEX:  02012R0267-20240913

By way of derogation from Article 23 or Article 23a, the competent authorities may authorise the release of certain frozen funds or economic resources, provided that the following conditions are met:
(a) the funds or economic resources are the subject of a judicial, administrative or arbitral lien established before the date on which the person, entity or body referred to in Article 23 or Article 23a has been designated by the Sanctions Committee, the UN Security Council or the Council 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) the lien or judgment is not for the benefit of a person, entity or body listed in Annexes VIII, IX, XIII or XIV;
(d) recognising the lien or judgment is not contrary to public policy in the Member State concerned; and (e) where Article 23(1) or Article 23a(1) applies, the UN Security Council has been notified by the Member State of the lien or judgment.