Regulation (EU) No o 269/2014 is amended as follows:
(1)
in Article 6b, paragraph 5f is replaced by the following:
‘5f. By way of derogation from Article 2 of this Regulation, the competent authorities of a Member State may, under such conditions as they deem appropriate, authorise the release of certain frozen funds or economic resources, or the making available of certain funds or economic resources to the individuals listed under entry numbers 92, 694 and 920 under the heading “Persons” in Annex I, after having determined that:
(a)
the funds or economic resources are necessary for the sale and transfer by 30 June 2025 of proprietary rights directly or indirectly owned by one of those individuals in a legal person, entity or body established in the Union; and
(b)
the proceeds of such sale and transfer are frozen.’
;
(2)
in Article 6b, the following paragraph is inserted:
‘5j. By way of derogation from Article 2 of this Regulation, the competent authorities of a Member State may, under such conditions as they deem appropriate, authorise the release of cash balances frozen by a central securities depository within the meaning of Regulation (EU) No 909/2014 and attributable to the entity listed under entry number 101 under the heading “Entities” in Annex I to this Regulation or to another entity listed under that heading, after having determined that:
(a)
the central securities depository concerned maintains an account or accounts with the entity listed under entry number 101 under the heading “Entities” in Annex I to this Regulation;
(b)
the entity listed under entry number 101 under the heading “Entities” in Annex I to this Regulation or another entity listed under that heading maintains an account or accounts with the central securities depository holding the cash balance to be released;
(c)
the entity listed under entry number 101 under the heading “Entities” in Annex I to this Regulation has debited an amount from the account or the accounts referred to in point (a) of this paragraph, pursuant to a law, decree, regulation, judicial or administrative decision or any other measure, directly or indirectly attributable to the Russian Federation, without the prior consent of the central securities depository concerned;
(d)
the released cash balance is to be used by the central securities depository concerned to meet its legal obligations towards its participants and does not exceed the debited amount referred to in point (c) of this paragraph; and
(e)
the released cash balance is not made available in breach of Article 2(2).’.