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The Iran (Restrictive Measures) (Overseas Territories) Order 2011

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6.—(1) A person (“P”) (including a listed person) is not guilty of an offence under article 4 or 5 if P credits a frozen account with—

(a)interest or other earnings due on the account; or

(b)payments due under contracts, agreements or obligations that were concluded or arose prior to the date on which the account holder became a listed person.

(2) It is not an offence under article 5 for a relevant institution to credit a frozen account where it receives funds transferred by a third party to a frozen account under this Order.

(3) Article 4 applies to any funds credited to a frozen account in accordance with this article.

(4) In this article “third party” means a person other than the account holder or the person with which the account is maintained.

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