Key Benefits:
The Prime Minister,
On the report of the Minister of Economy, Industry and Employment,
Having regard to resolution 1483 adopted by the Security Council of the United Nations on 22 May 2003;
Having regard to Council Regulation (EC) No. 1210/2003 of 7 July 2003 concerning specific restrictions applicable to economic and financial relations with Iraq and repealing amended Council Regulation (EC) No. 2465/1996;
Vu la Act No. 2000-321 of 12 April 2000 amended on the rights of citizens in their relations with administrations, including article 21;
See?Article 104 of Act No. 2009-1674 of 30 December 2009 for 2009;
Considering Notice No. 2010-23 of the Financial Legislation and Regulation Advisory Committee dated 2 April 2010;
The State Council (Finance Section) heard,
Decrete:
I. ― Economic funds and resources subject to an asset freeze measure under section 4 of the above-mentioned Council Regulation of 7 July 2003 shall be declared to the Minister responsible for the economy by persons who hold or receive them, within two months of a date fixed by a Minister's order.
This Order, which specifies the terms of the declaration, is published in the Official Gazette within six months of the coming into force of this Order.
II. For each economic fund or resource, the statement states:
1° The name or name and quality of the declarant;
2° The name or name and quality of the person or entity whose economic fund or resource is frozen;
3° The nature and value of the fund or economic resource;
4° The hardships, security rights and rights acquired prior to the freezing measure and, where applicable, the judicial, arbitral or administrative decisions granting such rights, if they were taken as a result of a procedure initiated before the freezing measure was decided.
The declarant who receives, for economic funds and resources subject to an asset freeze measure in France under section 4 of the above-mentioned Council Regulation of 7 July 2003, an order of transfer of a foreign authority for the purpose of the above-mentioned Security Council resolution of 22 May 2003 shall suspend the execution of that order and shall promptly inform the Minister responsible for the economy.
The Minister responsible for the economy may object, within thirty days of receipt of the application, to the execution of the transfer order, if the Minister considers that the transfer is an obstacle to the implementation of the above-mentioned Security Council resolution.
The transfer order may only be enforced if the Minister has notified his decision not to object to it, has not notified his opposition to the declarant within 30 days or, if notified, after he has lifted it.
I. ― The economic funds and resources that have been frozen under the conditions referred to in section 1 shall be transferred to the Iraq Development Fund account when they have been registered and retained. If they have not been, titles of ownership or corresponding receivables shall be handed over to an agent authorized by the Fund.
II. - Orders set out in section 104 of the Act of 30 December 2009 on Corrigendum Finance for 2009 are taken by the Minister responsible for the economy.
The Minister of Economy, Industry and Employment is responsible for the execution of this Order, which will be published in the Official Journal of the French Republic.
Done in Paris, September 14, 2010.
François Fillon
By the Prime Minister:
Minister of Economy,
industry and employment,
Christine Lagarde
