S.I. No. 414/1992 -- Financial Transfers (Iraq) Regulations, 1992.
S.I. No. 414/1992: FINANCIAL TRANSFERS (IRAQ) REGULATIONS, 1992. |
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FINANCIAL TRANSFERS (IRAQ) REGULATIONS, 1992. |
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I, BERTIE AHERN, Minister for Finance, in exercise of the powers conferred on me by section 4 of the Financial Transfers Act, 1992 , hereby make the following regulations: |
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1. These regulations may be cited as the Financial Transfers (Iraq), Regulations, 1992. |
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2. These regulations shall come into effect on 1 January, 1993. |
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3. (1) No financial transfer to or by the order of, or on behalf of a resident of Iraq shall be made unless permission for the transfer has been given by the Central Bank of Ireland. |
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(2) In this regulation, "resident" means a person living in Iraq, or a body corporate or entity operating in Iraq and includes any person acting on behalf of such person. |
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4. The Central Bank of Ireland may make administrative rules and issue instructions in carrying out these Regulations. |
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GIVEN under my Official Seal, this 21st day of December, 1992. |
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BERTIE AHERN, |
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Minister for Finance. |
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EXPLANATORY NOTE. |
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These Regulations continue Ireland's financial sanctions against Iraq which were first imposed under the Exchange Control Acts 1954 to 1986 as part of our UN obligations. |
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Since the Exchange Control Acts lapse on 31 December 1992 it is necessary to continue our financial sanctions by way of this order made under the Financial Transfers Act, 1992 . |
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