JUDGMENT OF THE COURT

of 14 December 2011

in Case E-3/11

Pálmi Sigmarsson v the Central Bank of Iceland

(Free movement of capital — Article 43 EEA — National restrictions on capital movements — Jurisdiction — Proportionality — Legal certainty)

2012/C 291/06

In Case E-3/11, Pálmi Sigmarsson v the Central Bank of Iceland — REQUEST to the Court under Article 34 of the Agreement between the EFTA States on the Establishment of a Surveillance Authority and a Court of Justice by Héraðsdómur Reykjavíkur (Reykjavik District Court), concerning the interpretation of Article 43 of the EEA Agreement, the Court, composed of Carl Baudenbacher, President, Per Christiansen (Judge-Rapporteur) and Benedikt Bogason (ad hoc), Judges, gave judgment on 14 December 2011, the operative part of which is as follows:

A national measure which prevents inbound transfer into Iceland of Icelandic krónur purchased on the offshore market, is compatible with Article 43(2) and (4) of the EEA Agreement in circumstances such as those in the case before the referring court.