Council Common Position 2003/735/CFSP of 13 October 2003 amending Common Position 2003/495/CFSP on Iraq Official Journal L 264 , 15/10/2003 P. 0040 - 0040 Council Common Position 2003/735/CFSP of 13 October 2003 amending Common Position 2003/495/CFSP on Iraq THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty on European Union, and in particular Article 15 thereof, Whereas: (1) On 7 July 2003, the Council adopted Common Position 2003/495/CFSP on Iraq(1) implementing the United Nations Security Council Resolution 1483 (2003), which repeals all prohibitions related to trade with Iraq and the provision of financial and economic resources to Iraq established by Security Council Resolution 661 (1990) and subsequent relevant resolutions including Resolution 778 (1992), with the exception of prohibitions related to the sale or supply to Iraq of arms and related material other than those arms and related material required by the United States of America and the United Kingdom of Great Britain and Northern Ireland as occupying powers under unified command (hereinafter called "the Authority"), and imposing new measures.
(2) Clarity is needed concerning certain provisions of Common Position 2003/495/CFSP. (3) Action by the Community is needed in order to implement certain measures, HAS ADOPTED THIS COMMON POSITION: Article 1 Article 2 of Common Position 2003/495/CFSP shall be replaced as follows: "Article 2 All funds or other financial assets or economic resources: (a) of the previous Government of Iraq or its State bodies, corporations or agencies located outside Iraq on the date of 22 May 2003, as designated by the Committee established pursuant to Security Council Resolution 661 (1990) or (b) that have been removed from Iraq, or acquired by Saddam Hussein or other senior officials of the former Iraqi regime and their immediate family members, including entities owned or controlled directly or indirectly by them or by persons acting on their behalf or at their direction, as designated by the Committee established pursuant to Security Council Resolution 661 (1990), shall be frozen without delay and, unless these funds or other financial assets or economic resources are themselves the subject of a prior judicial, administrative or arbitral lien or judgement, in which case they may be used to satisfy such lien or judgement, Member States shall immediately cause their transfer to the Development Fund for Iraq under the conditions set out in Security Council Resolution 1483 (2003)." Article 2 This Common Position shall take effect on the date of its adoption.
Article 3 This Common Position shall be published in the Official Journal of the European Union. Done at Luxembourg, 13 October 2003. For the Council The President F. Frattini (1) OJ L 169, 8.7.2003, p. 72.