(1) This section applies to acts -

(a) that are adopted by the institutions of the European Communities before or after the commencement of this section in accordance with the treaties of those Communities, and

(b) that, in the opinion of the Minister for Finance, are for the purpose of, or will contribute to, combating terrorism through the adoption of specific restrictive measures, directed at persons, groups or entities, for the identification, detection, freezing or seizure of their assets of any kind.

(2) The Minister for Finance may make regulations for enabling provisions of acts to which this section applies to have full effect, including regulations -

(a) requiring the disclosure or reporting of information for the identification or detection of assets referred to in subsection (1) (b), and

(b) respecting the freezing or seizure of such assets or the imposition of other restrictive measures referred to in subsection (1) (b).

(3) A person who contravenes a requirement of a regulation made under subsection (2) is guilty of an offence.

(4) A person guilty of an offence under subsection (3) is liable -

(a) on summary conviction, to a fine not exceeding €3,000 or imprisonment for a term not exceeding 12 months or both, or

(b) on conviction on indictment, to -