1. "Funds, other financial assets and economic resources" means assets of every kind, whether tangible or intangible, movable or immovable, however acquired, and legal documents or instruments in any form, including electronic or digital, evidencing title to, or interest in, such assets, including, but not limited to, bank credits, travellers' cheques, bank cheques, money orders, shares, securities, bonds, drafts and letters of credit. 2. "Freezing of funds, other financial assets and economic resources" means the prevention of any move, transfer, alteration, use of 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. 3. "Financial services" means any service of a financial nature, including all insurance and insurance-related services, and all banking and other financial services (excluding insurance) as follows: Insurance and insurance-related services (i) Direct insurance (including co-insurance): (A) life assurance; (B) non-life;
(ii) Reinsurance and retrocession; (iii) Insurance intermediation, such as brokerage and agency; (iv) Services auxiliary to insurance, such as consultancy, actuarial, risk assessment and claim settlement services.
Banking and other financial services (excluding insurance) (v) Acceptance of deposits and other repayable funds; (vi) Lending of all types, including consumer credit, mortgage credit, factoring and financing of commercial transaction; (vii) Financial leasing; (viii) All payment and money transmission services, including credit, charge and debit cards, travellers' cheques and bankers' drafts; (ix) Guarantees and commitments; (x) Trading for own account or for account of customers, whether on an exchange, in an over-the-counter market or otherwise, the following: (A) money market instruments (including cheques, bills, certificates of deposits); (B) foreign exchange; (C) derivative products including, but not limited to, futures and options; (D) exchange rate and interest rate instruments, including products such as swaps and forward rate agreements; (E) transferable securities; (F) other negotiable instruments and financial assets, including bullion;
(xi) Participation in issues of all kinds of securities, including underwriting and placement as agent (whether publicly or privately) and provision of services related to such issues; (xii) Money brokering; (xiii) Asset management, such as cash or portfolio management, all forms of collective investment management, pension fund management, custodial, depository and trust services; (xiv) Settlement and clearing services for financial assets, including securities, derivative products, and other negotiable instruments; (xv) Provision and transfer of financial information, and financial data processing and related software by suppliers of other financial services; (xvi) Advisory, intermediation and other auxiliary financial services on all the activities listed in subparagraphs (v) to (xv), including credit reference and analysis, investment and portfolio research and advice, advice on acquisitions and on corporate restructuring and strategy.
4. For the purposes of this Regulation, the definition of "terrorist act" shall be the one contained in Article 1(3) of Common Position 2001/931/CFSP. 5. "Owning a legal person, group or entity" means being in possession of 50 % or more of the proprietary rights of a legal person, group or entity, or having a majority interest therein. 6. "Controlling a legal person, group or entity" means any of the following: (a) having the right to appoint or remove a majority of the members of the administrative, management or supervisory body of such legal person, group or entity; (b) having appointed solely as a result of the exercise of one's voting rights a majority of the members of the administrative, management or supervisory bodies of a legal person, group or entity who have held office during the present and previous financial year; (c) controlling alone, pursuant to an agreement with other shareholders in or members of a legal person, group or entity, a majority of shareholders' or members' voting rights in that legal person, group or entity; (d) having the right to exercise a dominant influence over a legal person, group or entity, pursuant to an agreement entered into with that legal person, group or entity, or to a provision in its Memorandum or Articles of Association, where the law governing that legal person, group or entity permits its being subject to such agreement or provision; (e) having the power to exercise the right to exercise a dominant influence referred to in point (d), without being the holder of that right; (f) having the right to use all or part of the assets of a legal person, group or entity; (g) managing the business of a legal person, group or entity on a unified basis, while publishing consolidated accounts; (h) sharing jointly and severally the financial liabilities of a legal person, group or entity, or guaranteeing them.
Council Regulation (EC) No 2580/2001 of 27 December 2001 on specific restrictive measures directed against certain persons and entities with a view to combating terrorism
Modified by
- Commission Regulation (EC) No 745/2003of 28 April 2003amending Council Regulation (EC) No 2580/2001 on specific measures directed against certain persons and entities with a view to combating terrorism, 32003R0745, April 29, 2003
- Actconcerning the conditions of accession of the Czech Republic, the Republic of Estonia, the Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania, the Republic of Hungary, the Republic of Malta, the Republic of Poland, the Republic of Slovenia and the Slovak Republic and the adjustments to the Treaties on which the European Union is founded, 12003T/ACT, September 23, 2003
- Commission Regulation (EC) No 1207/2005of 27 July 2005amending Council Regulation (EC) No 2580/2001 on specific measures directed against certain persons and entities with a view to combating terrorism, 32005R1207, July 28, 2005
- Commission Regulation (EC) No 1957/2005of 29 November 2005amending Council Regulation (EC) No 2580/2001 on specific restrictive measures directed against certain persons and entities with a view to combating terrorism, 32005R1957, November 30, 2005
- Commission Regulation (EC) No 1461/2006of 29 September 2006amending Council Regulation (EC) No 2580/2001 on specific restrictive measures directed against certain persons and entities with a view to combating terrorism, 32006R1461, October 3, 2006
- Council Regulation (EC) No 1791/2006of 20 November 2006adapting certain Regulations and Decisions in the fields of free movement of goods, freedom of movement of persons, company law, competition policy, agriculture (including veterinary and phytosanitary legislation), transport policy, taxation, statistics, energy, environment, cooperation in the fields of justice and home affairs, customs union, external relations, common foreign and security policy and institutions, by reason of the accession of Bulgaria and Romania, 32006R1791, December 20, 2006
- Commission Implementing Regulation (EU) No 1250/2012of 20 December 2012amending Council Regulation (EC) No 2580/2001 on specific restrictive measures directed against certain persons and entities with a view to combating terrorism, 32012R1250, December 21, 2012
- Council Regulation (EU) No 517/2013of 13 May 2013adapting certain regulations and decisions in the fields of free movement of goods, freedom of movement for persons, company law, competition policy, agriculture, food safety, veterinary and phytosanitary policy, transport policy, energy, taxation, statistics, trans-European networks, judiciary and fundamental rights, justice, freedom and security, environment, customs union, external relations, foreign, security and defence policy and institutions, by reason of the accession of the Republic of Croatia, 32013R0517, June 10, 2013
- Commission Implementing Regulation (EU) No 646/2013of 4 July 2013amending Council Regulation (EC) No 2580/2001 on specific restrictive measures directed against certain persons and entities with a view to combating terrorism, 32013R0646, July 6, 2013
- Council Regulation (EU) 2016/1710of 27 September 2016amending Regulation (EC) No 2580/2001 on specific restrictive measures directed against certain persons and entities with a view to combating terrorism, 32016R1710, September 27, 2016
- Council Regulation (EU) 2017/2061of 13 November 2017amending Regulation (EC) No 2580/2001 on specific restrictive measures directed against certain persons and entities with a view to combating terrorism, 32017R2061, November 14, 2017
- Commission Implementing Regulation (EU) 2019/1163of 5 July 2019amending and setting out a single list for the Annexes containing contact details of Member States competent authorities and address for notifications to the European Commission to certain Regulations concerning restrictive measures, 32019R1163, July 8, 2019
- Commission Implementing Regulation (EU) 2022/595of 11 April 2022amending certain Regulations concerning restrictive measures and setting out a single list for the Annexes to those Regulations containing the contact details of Member States’ competent authorities and the address for notifications to the European Commission, 32022R0595, April 12, 2022
- Council Regulation (EU) 2024/669of 19 February 2024amending Regulation (EC) No 2580/2001 on specific restrictive measures directed against certain persons and entities with a view to combating terrorism, 32024R0669, February 20, 2024
(a) all funds, other financial assets and economic resources belonging to, or owned or held by, a natural or legal person, group or entity included in the list referred to in paragraph 3 shall be frozen; (b) no funds, other financial assets and economic resources shall be made available, directly or indirectly, to, or for the benefit of, a natural or legal person, group or entity included in the list referred to in paragraph 3.
i) natural persons committing, or attempting to commit, participating in or facilitating the commission of any act of terrorism; ii) legal persons, groups or entities committing, or attempting to commit, participating in or facilitating the commission of any act of terrorism; iii) legal persons, groups or entities owned or controlled by one or more natural or legal persons, groups or entities referred to in points(i) and (ii); or iv) natural legal persons, groups or entities acting on behalf of or at the direction of one or more natural or legal persons, groups or entitiesreferred to in points (i) and (ii).
provide immediately any information which would facilitate compliance with this Regulation, such as accounts and amounts frozen in accordance with Article 2 and transactions executed pursuant to Articles 5 and 6: to the competent authorities of the Member States listed in the Annex where they are resident or located, and through these competent authorities, to the Commission,
cooperate with the competent authorities listed in the Annex in any verification of this information.
1. the use of frozen funds for essential human needs of a natural person included in the list referred to in Article 2(3) or a member of his family, including in particular payments for foodstuffs, medicines, the rent or mortgage for the family residence and fees and charges concerning medical treatment of members of that family, to be fulfilled within the Community; 2. payments from frozen accounts for the following purposes: (a) payment of taxes, compulsory insurance premiums and fees for public utility services such as gas, water, electricity and telecommunications to be paid in the Community; and (b) payment of charges due to a financial institution in the Community for the maintenance of accounts;
3. payments to a person, entity or body person included in the list referred to in Article 2(3), due under contracts, agreements or obligations which were concluded or arose before the entry into force of this Regulation provided that those payments are made into a frozen account within the Community.
to unfreeze funds, other financial assets or other economic resources, to make funds, other financial assets or other economic resources available to a person, entity or body included in the list referred to in Article 2(3), or to render financial services to such person, entity or body,
(a) the United Nations (UN), including its programmes, funds and other entities and bodies, as well as its specialised agencies and related organisations; (b) international organisations; (c) humanitarian organisations having observer status with the UN General Assembly and members of those humanitarian organisations; (d) bilaterally or multilaterally funded non-governmental organisations participating in UN Humanitarian Response Plans, Refugee Response Plans, other UN appeals or humanitarian clusters coordinated by the UN Office for the Coordination of Humanitarian Affairs; (e) organisations and agencies to which the Union has granted the Humanitarian Partnership Certificate or which are certified or recognised by a Member State in accordance with national procedures; (f) Member States’ specialised agencies; (g) employees, grantees, subsidiaries or implementing partners of the entities referred to in points (a) to (f) while and to the extent that they are acting in those capacities.
1. within the territory of the Community, including its airspace, 2. on board any aircraft or any vessel under the jurisdiction of a Member State, 3. to any person elsewhere who is a national of a Member State, 4. to any legal person, group or entity incorporated or constituted under the law of a Member State, 5. to any legal person, group or entity doing business within the Community.
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