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EN
Official Journal of the European Union
27.1.2012
COMMISSION IMPLEMENTING DECISION
of 25 January 2012
authorising the Kingdom of Denmark to conclude agreements with Greenland and the Faroe Islands
for transfers of funds between Denmark and each of these territories to be treated as transfers of
funds within Denmark, pursuant to Regulation (EC) No 1781/2006 of the European Parliament and
of the Council
(notified under document C(2012) 141)
(Only the Danish text is authentic)
(2012/43/EU)
THE EUROPEAN COMMISSION,
(5) Payment
services
providers
in
Greenland
and
the
Faroe
Islands participate directly in payment and settlement
systems in Denmark, namely either Kronos or
Having regard to the Treaty on the Functioning of the European
Sumclearing. They therefore comply with the criterion
Union,
set out in Article 17(1)(b) of Regulation (EC)
No 1781/2006.
Having regard to Regulation (EC) No 1781/2006 of the
European Parliament and of the Council of 15 November
(6) Both
Greenland
and
the
Faroe
Islands
have
incorporated
2006 on information on the payer accompanying transfers of
in their legal orders provisions corresponding to those of
funds (
Regulation (EC) No
1781/2006, in particular, for

1 ), and in particular Article 17 thereof,
Greenland through Act No 399 of 21 April 2010 on
the information on the payer accompanying transfers
of funds and Act No 6 of 19 May 2010 on the
Having regard to the application from the Kingdom of
information on the payer accompanying transfers of
Denmark,
funds, and for the Faroe Islands through Act No 467
of 17 June 2008 on the information on the payer
accompanying transfers of funds, with amendments in
Whereas:
Act No 579 of 1 June 2010.
(1)
Launched in December 2006, Denmark in April 2011
(7) Greenland
and
the
Faroe
Islands
have
issued
legislation
completed its application for derogation under
which contributes to the building of a sound anti-money
Article 17(1) of Regulation (EC) No 1781/2006 for the
laundering regime. In Greenland, this legislation consists
transfers of funds between Denmark and Greenland and
particularly of the Royal Decree No 1034 of 30 August
between Denmark and the Faroe Islands.
2010 on Measures to Prevent Money Laundering and
Financing of Terrorism and the Act No 5 of 19 May
2010 on Measures to Prevent Money Laundering and
Financing of Terrorism. In the Faroe Islands, the anti-
(2) In
accordance
with
Article
17(2)
of
Regulation
(EC)
money laundering legislation comprises particularly the
No 1781/2006, transfers of funds between Denmark
Royal Decree No 79 of 29 January 2010 on Measures to
and Greenland and between Denmark and the Faroe
Prevent Money Laundering and Financing of Terrorism
Islands have been provisionally treated as transfers of
and the Act on Measures to Prevent Money Laundering
funds within Denmark since December 2006.
and Financing of Terrorism, Act No 56 of 9 June 2008
with amendments of 26 May 2010.
(3) Member
States
were
informed
on
27
April
2011
that
the
Commission considered that it had received the
(8) Greenland
and
the
Faroe
Islands
have
in
place
appro
information necessary for appraising the requests made
priate legislation to impose financial penalties vis-à-vis
by Denmark.
entities or persons listed by the United Nations or the
European Union.
(4) Neither
Greenland
nor
the
Faroe
Islands
form
part
of
the
territory of the European Union as determined in
(9) Therefore,
both
Greenland
and
the
Faroe
Islands
have
accordance with Article 52 of the Treaty on European
adopted the same rules as those established under Regu
Union (TEU) and Article 355 of the Treaty on the Func
lation (EC) No 1781/2006 and require their respective
tioning of the European Union (TFEU) but form part of
payment services providers to apply them, thus fulfilling
the currency area of Denmark. Greenland and the Faroe
the criterion set out in Article 17(1)(c) of that Regulation.
Islands therefore comply with the criterion set out in
Article 17(1)(a) of Regulation (EC) No 1781/2006.
(10) It
is
therefore
appropriate
to
grant
to
Denmark
the
( 1 ) OJ L 345, 8.12.2006, p. 1.
requested derogation.

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EN
27.1.2012 Official
Journal
of
the
European
Union L
24/13
(11) The
agreements
to
be
concluded
between
Denmark
and
effect that the transfers of funds between Denmark and
Greenland should make provision to ensure compliance
Greenland and between Denmark and the Faroe Islands are
with Directive 95/46/EC of the European Parliament and
treated as transfers of funds within Denmark for the purposes
of the Council of 24 October 1995 on the protection of
of Regulation (EC) No 1781/2006.
individuals with regard to the processing of personal data
and on the free movement of such data ( 1 ) and in
particular Articles 25 and 26.
Article 2
This Decision is addressed to the Kingdom of Denmark.
(12) The
measures provided for in this Decision are in
accordance with the opinion of the Committee on the
Prevention of Money Laundering and Terrorist Financing,
Done at Brussels, 25 January 2012.
HAS ADOPTED THIS DECISION:
Article 1
For the Commission
The Kingdom of Denmark shall be authorised to conclude
Michel BARNIER
agreements with Greenland and the Faroe Islands, to the
Member of the Commission
( 1 ) OJ L 281, 23.11.1995, p. 31.

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