1. By way of derogation from Article 2, the competent authorities of a Member State may authorise, under such conditions as they deem appropriate, the release of certain frozen economic resources, after having determined that:

(a) the release of such economic resources is necessary for the urgent prevention or mitigation of an event likely to have a serious and significant impact on human health and safety or the environment; and

(b) the proceeds resulting from the release of such economic resources are frozen.

2. The Member State concerned shall inform the other Member States and the Commission of any authorisation granted under paragraph 1, within two weeks of the authorisation.