The Federal Republic of Yugoslavia (Freezing of Funds and Prohibition on Investment) Regulations 1999
These Regulations provide that breaches of certain provisions of Council Regulation (EC) No. 1294/99 of 15 June 1999 (“the EC Regulation”) are to be criminal offences. The provisions in question are:Article 3, which (except as permitted under Articles 7 and 8) provides for the freezing of funds of the governments of the Federal Republic of Yugoslavia and the Republic of Serbia, and prohibits the making of funds available to or for the benefit of those governments;Article 4, which (except as permitted under Articles 7 and 8) prohibits investment in real estate or entities within the Republic of Serbia or which are owned or controlled by the government of the Federal Republic of Yugoslavia or the Republic of Serbia;Article 5(1), which prohibits the knowing and intentional participation in activities the object or effect of which is to circumvent the provisions of Articles 3 and 4.