Clare Daly (Dublin North, United Left)
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59. To ask the Minister for Finance the steps he will take to defend Ireland from the imposition of fines and other sanctions for failing to implement EU Council Regulation (EC) 2271/96. [38370/14]

Michael Noonan (Limerick City, Fine Gael)
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EU Council Regulation (EC) 2271/96 provides protection against and counteracts extra-territorial effects of certain US laws and regulations specified in the Annex to the Regulation.  In the main, the Regulation takes direct effect across the EU through the activities of the Commission, while the Regulation may also entitle EU persons and entities to take action to recover damages and costs where they have been negatively impacted by the application of laws whose effects are intended to be neutralised by the Regulation.

Currently I have no indication that fines or sanctions are contemplated in relation to the Regulation.

Member States have taken varying approaches to implementing this regulation and these different approaches are currently under examination. My officials consult with the Department of Foreign Affairs and Trade to ensure that the regulation is implemented fully and comprehensively.