The Federal Republic of Yugoslavia and Serbia (Freezing of Funds) Regulations 1998
These Regulations provide that breaches of certain provisions of Council Regulation (EC) No. 1295/98 of 22 June 1998, concerning the freezing of funds held abroad by the Governments of the Federal Republic of Yugoslavia and the Republic of Serbia (“the EC Regulations”), are to constitute criminal offences. The provisions in question are:Article 2(1), which provides that (subject to certain exemptions set out in Article 3 of the EC Regulations) no funds are to be made available, directly or indirectly, to or for the benefit of the government of the Federal Republic of Yugoslavia or the government of Serbia; andArticle 4(1), which prohibits the knowing and intentional participation in activities the object or effect of which is to circumvent the provisions of Article 2.