British Overseas Territories is the only overseas territory that is part of the European Union (EU), although it is not part of the European Customs Union, the European Tax Policy, the European Statistics Zone or the Common Agriculture Policy. Gibraltar is not a member of the European Union in its own right. The Sovereign Base Areas in Cyprus are not part of the European Union, but they are the only British overseas territory to use the euro as official currency. None of the other Overseas Territories are members of the EU, the main body of EU law does not apply and, although certain
British Overseas Territories Act 2002 of the British Antarctic Territory there are competing territorial claims that are held in abeyance. Although it is not normally possible under either territory's immigration laws to acquire British Overseas Territories citizenship (BOTC) by naturalisation in that territory, the former inhabitants of the BIOT still hold BOTC by virtue of their birth, or a parent's birth, in that territory. Although it was possible for BOTCs to voluntarily acquire British citizenship under the previous provisions of British Nationality Act 1981 through section 4 registration by meeting UK residency and good character requirements prior to 2002, the enactment of the 2002 act