Foreign Trade and Payments Act of 28 April 1961 (Federal Law Gazette
I p. 481, as amended by Article 1 of the Law of 28 March 2006
[FLG I p. 574]):
Part 1, Chapter 1, Section 2, para.
2 of the Foreign Trade and Payments Act:
(2) The Federal Ministry of Economics
and Technology, in agreement with the Federal Foreign Office and
the Federal Ministry of Finance, may decree the necessary restrictions
on legal transactions or acts, in order to avert a possible danger,
which may arise in certain cases, for the legally protected rights
referred to in Section 7 para. 1 of this Act. In case of measures
related to the trade in capital assets, payment transactions or
the trade in foreign valuables and gold, agreement with the German
Federal Bank shall be made. The decree shall expire six months
after its enactment, unless the restriction is laid down through
statutory order.
(3) Restrictions shall be limited in
nature and scope to the extent necessary to achieve the objective
stated in the licence. They shall be framed in a way hampering
the freedom of economic activity as little as possible. Restrictions
may affect existing agreements only if the desired objective is
in substantial jeopardy.
(4) Restrictions shall be revoked as
soon as, and insofar as the reasons warranting their imposition
do no longer apply.
(5) Where independent obligations to
act may be substantiated under this Act, paragraphs 2 and 3 above
shall apply mutatis mutandis.
Section 7, para 1 which is referred
to above:
Legal transactions and acts in foreign
trade and payments may be restricted in order to 1. guarantee
the vital security interests of the Federal Republic of Germany,
2. prevent a disturbance of the peaceful coexistence between nations,
or 3. prevent a major disruption of the foreign relations of the
Federal Republic of Germany. Back
112
Ev 61, para 7 Back
113
Q 76 [Mr Hayes] Back
114
Q 204 Back
115
Ibid. Back
116
Q 198; and see also Qq 197, 204. Back
117
Q 204 Back
118
Q 64 [Mr Fletcher] Back
119
Q 101 Back
120
HC (2005-06) 873, paras 96-99; HC (2006-07) 117, para 235 Back
121
Q 101 Back
122
Ibid. Back
123
Ev 62, para 12 Back