(1)

In accordance with the United Nations Security Council Resolution (UNSCR) 2140 (2014) of 26 February 2014, Decision 2014/932/CFSP provides for restrictions on the entry or transit and the freezing of funds and economic resources of certain persons to be designated by the Committee established pursuant to paragraph 19 of UNSCR 2140 (2014).

(2)

On 7 November 2014, that Committee designated three individuals to be subject to restrictions on entry or transit and to the freezing of funds and economic resources as set out in UNSCR 2140 (2014).

(3)

Certain measures provided for in Decision 2014/932/CFSP fall within the scope of the Treaty on the Functioning of the European Union and, therefore, notably with a view to ensuring their uniform application by economic operators in all Member States, regulatory action at the level of the Union is necessary in order to implement them.

(4)

This Regulation respects the fundamental rights and observes the principles recognised in particular by the Charter of Fundamental Rights of the European Union and notably the right to an effective remedy and to a fair trial and the right to the protection of personal data. This Regulation is to be applied in accordance with those rights.

(5)

The power to amend the list in Annex I to this Regulation should be exercised by the Council, in view of the specific threat to international peace and security in the region posed by the situation in Yemen and in order to ensure consistency with the process for amending and reviewing the Annex to Decision 2014/932/CFSP.

(6)

The procedure for amending the list in Annex I to this Regulation should include the provision of reasons for their listing as transmitted by the Committee established pursuant to paragraph 19 of UNSCR 2140 (2014) to designated natural or legal persons, entities or bodies, so as to give them an opportunity to present observations. Where observations are submitted or substantial new evidence is presented, the Council should review its decision in the light of those observations and inform the person, entity or body concerned accordingly.

(7)

For the implementation of this Regulation, and in order to create maximum legal certainty within the Union, the names and other relevant data concerning natural and legal persons, entities and bodies whose funds and economic resources must be frozen in accordance with this Regulation, should be made public. Any processing of personal data should comply with Regulation (EC) No 45/2001 of the European Parliament and of the Council (2) and Directive 95/46/EC of the European Parliament and of the Council (3).

(8)

In order to ensure that the measures provided for in this Regulation are effective, it should enter into force immediately,

(a)

‘claim’ means any claim, whether asserted by legal proceedings or not, made before or after the date of entry into force of this Regulation, under or in connection with a contract or transaction, and includes in particular:

(b)

‘contract or transaction’ means any transaction of whatever form and whatever the applicable law, whether comprising one or more contracts or similar obligations made between the same or different parties; for this purpose ‘contract’ includes a bond, guarantee or indemnity, particularly a financial guarantee or financial indemnity, and credit, whether legally independent or not, as well as any related provision arising under, or in connection with, the transaction;

(c)

‘competent authorities’ refers to the competent authorities of the Member States as identified on the websites listed in Annex II;

(d)

‘economic resources’ means assets of every kind, whether tangible or intangible, movable or immovable, which are not funds, but may be used to obtain funds, goods or services;

(e)

‘freezing of economic resources’ means preventing the use of economic resources to obtain funds, goods or services in any way, including, but not limited to, by selling, hiring or mortgaging them;

(f)

‘freezing of funds’ means preventing any move, transfer, alteration, use of, access to, or dealing with funds in any way that would result in any change in their volume, amount, location, ownership, possession, character, destination or other change that would enable the funds to be used, including portfolio management;

(g)

‘funds’ means financial assets and benefits of every kind, including, but not limited to:

(h)

‘Sanctions Committee’ means the Committee of the United Nations Security Council established pursuant to paragraph 19 of UNSCR 2140 (2014);

(i)

‘territory of the Union’ means the territories of the Member States to which the Treaty is applicable, under the conditions laid down in the Treaty, including their airspace;

(a)

the competent authority concerned has determined that the funds or economic resources are:

(b)

the Member State concerned has notified the Sanctions Committee of the determination referred to in point (a) and its intention to grant an authorisation, and the Sanctions Committee has not objected to that course of action within five working days of notification.

(a)

the funds or economic resources in question are the subject of a judicial, administrative or arbitral lien established prior to the date on which the person, entity or body referred to in Article 2 was included in Annex I, or of a judicial, administrative or arbitral judgment delivered prior to that date;

(b)

the funds or economic resources in question will be used exclusively to satisfy claims secured by such a lien or recognised as valid in such a judgment, within the limits set by applicable laws and regulations governing the rights of persons having such claims;

(c)

the lien or judgment is not for the benefit of a person, entity or body listed in Annex I;

(d)

recognising the lien or judgment is not contrary to public policy in the Member State concerned; and

(e)

the Sanctions Committee has been notified by the Member State concerned of the lien or judgment.

(a)

the funds or economic resources shall be used for a payment by a natural or legal person, entity or body listed in Annex I;

(b)

the payment is not in breach of Article 2(2); and

(c)

the Sanctions Committee has been notified by the relevant Member State of the intention to grant an authorisation 10 working days in advance.

(a)

within the territory of the Union, including its airspace;

(b)

on board of any aircraft or any vessel under the jurisdiction of a Member State;

(c)

to any person inside or outside the territory of the Union who is a national of a Member State;

(d)

to any legal person, entity or body, inside or outside the territory of the Union, which is incorporated or constituted under the law of a Member State;

(e)

to any legal person, entity or body in respect of any business done in whole or in part within the Union.