Foreign Exchange Control Order. Copyright Roderick Seeman

Article 18 (Service Transactions)

1.Transactions which are to be determined by Cabinet Order as provided for in Article 25, Paragraph 3 of the Law shall be the transactions listed in the following (Excluding, for those transactions listed in Items 1 to 3, those transactions that fall under Item 4):

(1) Service transactions related to the processing or storage of mineral products, the breakingdown or reprocessing of nuclear fuel which is radiated by rays or the disposition of radio active waste material;

(2) Transactions related to the transfer of mining rights and others similar to that;

(3) Transactions providing technology which were transferred to Japan based on Exchange of Notes concerning Cooperation between Japan and the U.S.A. in Space Activities;

(4) Service transactions with parties listed hereunder (excluding medical service transactions and similar transactions)

(a) Natural persons with an address or residence in Iraq.

(b) Corporations which have their main office in Iraq. (Including those corresponding to that as provided by the Minister of Finance or the Minister of International Trade and Industry.)

(5). Transactions which have as their objective the provision of technology in relation to Libyan aircraft (meaning aircraft which have Libyan nationality and the parts therefore. Hereinafter in this Item the same.) or the preparation or fixing up of Libyan aircraft and transactions related to insurance contracts which have as their objective the insurance of Libyan aircraft.

(6). Service transactions related to the manufacture, maintenance, repair or otherwise administer goods in Libya listed in the Export Trade Control Order, Table 2, 25-2(2), the maintenance, support or otherwise administer an airport in Libya, or advising, instructing or training any pilot, aircraft mechanic or other aircraft personnel, who have Libyan nationality, who contribute to the operation of aircraft or airports in Libya.

(7).Transactions related to the trading of goods in line with the movement of goods between countries, that are listed below:

(a). Transactions where the area of production, the area of shipment destination or the area of shipment from, of the goods related to the said trade, is Iraq.

(b). Transactions where the area of the shipment destination of the goods related to the said trade (limited to goods listed in the middle column of Export Trade Control Order Table 2-6) is Libya.

(c). Transactions where the area of the shipment destination of the goods related to the said trade (limited to goods listed in middle column of the Export Trade Control Order Table 2-6) is Angola.

2. When an exchange resident is going to obtain the license of the Minister of Finance or the Minister of International Trade & Industry based on the provisions of Article 25 of the Law, he must make application for the said license based on the procedures as determined by Ministry of Finance Ordinance or Ministry of International Trade & Industry Ordinance.

3. Concerning those transactions which the Minister of Finance or the Minister of International Trade & Industry has designated as deemed not being particularly an obstacle to the achievement of the objectives of the Law in light of the parties to the transactions listed in any of the items of Paragraph 1, the substance thereof and other matters, the said transaction can be made without the license of the Minister of Finance or the Minister of International Trade & Industry based on the provisions of Article 25, Paragraph 3 of the Law.