Vol. 545 No. 2
52 Mr. Broughan asked the Minister for Finance the number and the value of accounts frozen by the Central Bank arising from the measures announced in the aftermath of the attacks in the United States on 11 September 2001; and if he will make a statement on the matter. [29948/01]
90 Mr. McDowell asked the Minister for Finance the number and value of accounts frozen by the Central Bank arising from the measures announced in the aftermath of the attacks in the United States on 11 September 2001; and if he will make a statement on the matter. [30119/01]
I propose to take Questions Nos. 52 and 90 together.
The Central Bank has informed me that, to date, the accounts of about half a dozen persons have been frozen by the financial institutions and that the total amount involved is somewhat less than £100,000. These accounts have been frozen by the financial institutions on the basis of Council Regulation EC No. 467/2001 of 6 March 2001 which, inter alia, freezes funds and other financial resources in respect of the Taliban of Afghanistan. It is directly applicable in Ireland and therefore has the force of law here. This regulation, which has been amended by the EU Commission on three occasions since 11 September, lists the entities and individuals whose accounts must be targeted. There is an obligation on the financial institutions to ensure that these accounts are frozen and it is therefore not accurate to say that the accounts have been frozen by the Central Bank. However, the bank is one of the relevant competent authorities in this country for implementing the regulations and it has been maintaining close contacts with the institutions in the matter. I have also signed statutory instruments which provide for penalties for fund transfers which are in breach of the regulations.
