Notice of the making of this Statutory Instrument was published in

"Iris Oifigiúil" of 3rd January, 2014.

I, MICHAEL NOONAN, Minister for Finance, in exercise of the powers conferred on me by section 4 of the Financial Transfers Act 1992 (No. 27 of 1992) and for the purpose of giving full effect to Council Regulation (EU) No. 377/2012 of 3 May 2012¹ as last amended by Council Implementing Regulation (EU) No. 559/2013 of 18 June 2013² , hereby order as follows:

1. This Order may be cited as the Financial Transfers (Restrictive Measures Concerning the Republic of Guinea-Bissau) (Prohibition) Order 2013.

2. (1) In this Order "Council Regulation" means Council Regulation (EU) No. 377/2012 of 3 May 20121 as amended by-

(a) Council Implementing Regulation (EU) No. 458/2012 of 31 May 2012³ and

(b) Council Implementing Regulation (EU) No. 559/2013 of 18 June 20132.

(2) A word or expression used in this Order that is also used in the Council Regulation has, unless the context otherwise requires, the same meaning in this Order as it has in the Council Regulation.

3. Subject to Article 4, a person shall not make a financial transfer between the State and another country the effect of which would be to enable or facilitate, directly or indirectly, the doing of anything which is a contravention of the Council Regulation.

4. Notwithstanding Article 3, a person who has been granted or is deemed to have been granted an authorisation under the Council Regulation may, subject to compliance with the terms and conditions of such authorisation, do such of the things as are so authorised.

5. A competent authority of the State may, for the purposes of supervision of financial transfers and for the administration and enforcement of the provisions of the Council Regulation or this Order, give such directions or issue such instructions to a person as it sees fit.

6. A person to whom a direction has been given or an instruction issued under Article 5 of this Order shall comply with such direction or instruction.

7. A person shall not do anything to directly or indirectly assist in the circumvention of the provisions of this Order.

GIVEN under my Official Seal,

18 December 2013.

MICHAEL NOONAN,

Minister for Finance.

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

This Order provides for the enforcement of European Union financial sanctions contained in Council Regulation (EU) No. 377/2012 of 3 May 2012 as amended, concerning restrictive measures directed against certain persons, entities and bodies threatening the peace, security or stability of the Republic of Guinea-Bissau, which provides for the freezing of funds and economic resources of certain persons, entities and bodies as listed in Annex 1 to the Council Regulation.

1 OJ No. L 119, 4.5.12, p. 1

2 OJ No. L 167, 19.6.13, p. 1

3 OJ No. L 142, 1.6.12, p. 11