Explanatory Memorandum to JOIN(2012)32 - Amendment of Regulation 270/2011 concerning restrictive measures directed against certain persons, entities and bodies in view of the situation in Egypt - Main contents
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| dossier | JOIN(2012)32 - Amendment of Regulation 270/2011 concerning restrictive measures directed against certain persons, entities and bodies in ... |
|---|---|
| source | JOIN(2012)32  |
| date | 08-11-2012 |
On 21 March 2011, the Council adopted Council Decision 2011/172/CFSP concerning restrictive measures directed against certain persons, entities and bodies in view of the situation in Egypt.
Council Decision 2012/…/CFSP of ….provides for an amendment to the derogations given in Article 1 of Council Decision 2011/172/CFSP to expand their scope to permit the release of funds and economic resources where they are required to satisfy a judicial or administrative decision rendered in the EU, or a judicial decision enforceable in a Member State.
An amendment to Regulation (EU) No 270/2011 of 21 March 2011 concerning restrictive measures directed against persons, entities and bodies in view of the situation in Egypt is necessary to give effect to this Decision.
Article 9 of Regulation (EU) No 270/2011 concerns information sharing by persons, entities and bodies in order to facilitate compliance with the Regulation. In accordance with Article 9(2), information provided or received shall be used only for the purposes for which it was provided or received. This amendment clarifies that this does not prevent Member States from sharing such information with Egypt and other Member States in accordance with national law in order to assist the recovery of misappropriated assets in certain circumstances.
The High Representative of the Union for Foreign Affairs and Security Policy and the European Commission propose to amend Regulation (EU) No 270/2011 of 21 March 2011 accordingly.