Key Benefits:
Publics concerned: Any person holding economic funds and resources on behalf of Iraqis designated by the Regulation (EC) 1210/2003 of 7 July 2003 imposing sanctions against Iraq.
Purpose: allow the transfer to the current Iraqi government of assets held on behalf of Iraqis designated by Regulation (EC) 1210/2003. This decree and the subsequent three decrees allow France to implement its international obligations arising from the resolution of the Security Council of the United Nations 1483 (2003) of 22 May 2003, as amended in particular by resolution No. 1956 (2010) adopted by the Security Council of the United Nations on 15 December 2010.
Entry into force: the text comes into force on the day after its publication in the Official Gazette.
Notice: the resolution of the Security Council of the United Nations 1483 (2003), adopted under European law by Regulation (EC) 1210 (2003) of 7 July 2003, imposes the freezing of the assets of certain persons and the transfer of these assets to the new Iraqi government. It is therefore a procedure of devolution of so-called "badly acquired" assets. Since the European Union is not competent in the matter of expropriation, it is up to the Member States to have the necessary legislative and regulatory instruments for this expropriation. This is the subject of Article 85 of the Act of 26 July 2013 on the separation and regulation of banking activities that this Decree implements.
References: the decree is taken for application of theArticle 85 of Act No. 2013-672 of 26 July 2013 separation and regulation of banking activities. It is available on the website Légifrance (http://www.legifrance.gouv.fr).
The Prime Minister,
On the report of the Minister of Finance and Public Accounts,
In view of resolution No. 1483 (2003) adopted by the Security Council of the United Nations on 22 May 2003, as amended in particular by resolution No. 1956 (2010) adopted by the Security Council of the United Nations on 15 December 2010;
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 Council Regulation (EC) No. 2465/1996, as amended by Council Regulation (EU) No. 85/2013 of 31 January 2013;
Vu la Act No. 2013-672 of 26 July 2013 separation and regulation of banking activities, including Article 85;
Vu le Decree No. 2010-1082 of 14 September 2010 relating to the transfer of funds and economic resources to the Development Fund for Iraq;
The State Council (Finance Section) heard,
Decrete:
Article 3 of the above-mentioned decree of 14 September 2010 is replaced by the following provisions:
"Art. 3.-I.-The economic funds and resources that have been frozen under the conditions mentioned in Article 1 are transferred to the accounts of the successor mechanisms of the Development Fund for Iraq when they have been registered and maintained in account. If they have not been, the titles of ownership or corresponding receivables are handed over to an agent authorized by the Iraqi government.
"II.-The decrees provided for in section 85 of Act No. 2013-672 of 26 July 2013 for the separation and regulation of banking activities are taken by the Minister responsible for the economy. »
The Minister of Finance and Public Accounts is responsible for the execution of this Order, which will be published in the Official Journal of the French Republic.
Done on September 11, 2015.
Manuel Valls
By the Prime Minister:
Minister of Finance and Public Accounts,
Michel Sapin
