Introductory text

THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty establishing the European Community, and in particular Articles 60 and 301 thereof,

Having regard to Council Common Position 2006/318/CFSP of 27 April 2006 renewing restrictive measures in respect of Burma/Myanmar^f1,

Having regard to the proposal from the Commission,

Whereas:

Article 8 of Council Regulation (EC) No 798/2004 of 26 April 2004 renewing the restrictive measures in respect of Burma/Myanmar and repealing Regulation (EC) No 1081/2000^f2 permitted financial institutions that received funds transferred by third parties to the frozen accounts of listed persons or entities, to credit those funds to such accounts, provided that such credits were also frozen.

Regulation (EC) No 817/2006 has replaced Regulation (EC) No 798/2004 but due to an oversight it omitted that provision. Regulation (EC) No 817/2006 should therefore be amended to include such a provision.

It is appropriate for this Regulation to apply from the date on which Regulation (EC) No 817/2006 entered into force,

HAS ADOPTED THIS REGULATION: