public utilities - industrial organizations which provide the public with services such as water, gas, electricity, etc.: such undertakings are usually monopolies and, in many countries, are under state ownership or control
The Government and the public authorities of Libya and any commercial, industrial or public utility undertaking which is owned or controlled, directly or indirectly, by the Government or public authorities of Libya, or by any person identified by the Member States as acting either on behalf of the Government or Libyan authorities or on behalf of an entity which they control for the purposes of this Regulation, may have at their disposal funds or other financial resources, derived from the sale or supply by them of any petroleum or petroleum products, including natural gas and natural gas products, agricultural products or commodities, originating in Libya and exported therefrom after 1 December 1993, provided that such funds are paid into bank accounts used exclusively for those funds.
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