Suspended Order of 7 March 2003

Blocking All Bank Accounts of, held by, and/or in the name of

Privredna Banka Sarajevo ad, also known as Privredna Banka ad Srpsko Sarajevo

In the exercise of the powers vested in the High Representative by Article V of Annex 10 to the General Framework Agreement for Peace in Bosnia and Herzegovina and not by way of substitution for any domestic authority, it is hereby ordered by the High Representative in the exercise of his power under Annex 10 aforesaid that each and every account of, held by, and/or in the name of Privredna Banka Sarajevo ad, also known as Privredna Banka ad Srpsko Sarajevo is and shall be blocked in each and every bank and its branches coming within the jurisdiction of the Banking Agency of Republika Srpska or the Banking Agency of the Federation of Bosnia and Herzegovina, with immediate effect and until further notice but subject to the suspension hereinafter referred to. For the avoidance of doubt, money, valuables or other property held to the account of Privredna Banka Sarajevo ad, also known as Privredna Banka ad Srpsko Sarajevo as aforesaid, shall be deemed to include such money, valuables or property held in bank vaults or otherwise in the safe keeping of the bank concerned.

In the exercise of the powers vested in the High Representative under Annex 10 aforesaid, subject to the suspension hereinafter referred to, it is ordered that special reserve accounts shall be opened in the Central Bank of Bosnia and Herzegovina in the name of each and every commercial or other bank that has, by reason of the order herein or otherwise, blocked accounts of, held by, and/or in the name of Privredna Banka Sarajevo ad, also known as Privredna Banka ad Srpsko Sarajevo as aforesaid. All such banks and their branches with accounts as aforesaid are required to transfer forthwith the amount of funds contained in such blocked accounts  to the safe keeping of the Central Bank of Bosnia and Herzegovina, or one of its main units.

In the exercise of the High Representative’s powers under Annex 10 aforesaid, banks and their branches are further required, subject to the suspension hereinafter referred to, to forward to the Central Bank of Bosnia and Herzegovina and to the Banking Agency of Republika Srpska and the Banking Agency of the Federation of Bosnia and Herzegovina and to the Office of the High Representative, all information related to any transaction on any account of, held by, and/or in the name of Privredna Banka Sarajevo ad, also known as Privredna Banka ad Srpsko Sarajevo as aforesaid during the 10 days prior to as well as immediately following the order herein as well as all information related to attempted transactions hereafter to and from such blocked accounts. Such reports must include details as to all signatories to accounts so blocked, account balances and account numbers.

Failure to comply with this Order by the director of a bank, by any individual on behalf of a bank or by any employee thereof may hereafter be treated as participation in a transaction contrary to the provisions of the Entity Laws on Banking Agencies and Entity Laws on Banksand may lead to penalties which can include in the case of individuals, financial penalties, and in the case of a bank, the revocation of the licence of that Bank.

For the avoidance of doubt it is hereby specifically declared and provided that the provisions of the Order contained herein are, as to each and every one of them, laid down by the High Representative pursuant to his international mandate and are not therefore justiciable by the Courts of Bosnia and Herzegovina or its Entities or elsewhere whether in respect of the Banking Agencies or otherwise and no proceedings may be brought in respect of duties carried out thereunder before any court whatsoever at any time hereafter.

Provided however, that the terms of this Order blocking the accounts of Privredna Banka Sarajevo ad, also known as Privredna Banka ad Srpsko Sarajevo as aforesaid, shall be suspended upon the condition that those responsible for the management of the said  Privredna Banka Sarajevo ad, also known as Privredna Banka ad Srpsko Sarajevo, provide to the Office of the High Representative or to such other agency as may be designated by the Office of the High Representative, all books and records of the said Privredna Banka Sarajevo ad, also known as Privredna Banka ad Srpsko Sarajevo including, but not limited to, minutes of meetings of directors and shareholders, financial ledgers, books of account, financial records, organizational documents, shareholders lists, contracts and all other documents of any kind or nature relating to its financial transactions, its ownership and its management.  In the event that Privredna Banka Sarajevo ad, also known as Privredna Banka ad Srpsko Sarajevo fails or refuse to provide such documents upon request, this order blocking the accounts of Privredna Banka Sarajevo ad, also known as Privredna Banka ad Srpsko Sarajevo shall become effective forthwith.

Sarajevo, 7 March 2003