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Part 1 · General Provisions › Section 7a

Unreliability of sanctioned persons

A natural or legal person or a partnership is deemed unreliable where, under a directly applicable legal act of the European Communities or the European Union published in the Official Journal of the European Communities or the European Union that serves to implement an economic sanctions measure adopted by the Council of the European Union in the field of the Common Foreign and Security Policy, its funds and economic resources are frozen, or funds or economic resources may not, directly or indirectly, be made available to it or benefit it. A natural person is generally deemed unreliable where he or she acts as a manager, supervisory board member, or in a comparable position for a person or partnership under the first sentence; this does not apply to employee representatives. A natural person is generally also deemed unreliable where he or she represents the interests of a person or partnership under the first sentence as a member of a supervisory or administrative board or a comparable control body in an undertaking supervised under this Act that does not fall under the first sentence.

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