The Iran (Restrictive Measures) (Overseas Territories) Order 2012

Licences granted under articles 27 to 31

43.—(1) A person (“P”) is not guilty of an offence under articles 27 to 31 in respect of anything done by P under the authority of a licence granted by the Governor under paragraph (2).

(2) A licence granted under this paragraph may relate to—

(a) payment of basic expenses of designated persons and their dependent family members, including payments for foodstuffs, rent or mortgage, medicines, medical treatment, taxes, insurance premiums and public utility charges;

(b) payment of reasonable professional fees and expenses associated with the provision of legal services;

(c) payment of fees or service charges for the routine holding or maintenance of frozen funds or economic resources;

(d) payment of necessary extraordinary expenses as determined by the Governor and approved by the Committee established pursuant to paragraph 18 of the Security Council Resolution;

(e) satisfaction of a judicial, administrative or arbitral lien or judgment entered into prior to the date on which this Order comes into force and not for the benefit of a designated person;

(f) funds necessary for activities directly related to the items specified in subparagraph 3(b)(i) and (ii) of the Security Council Resolution;

(g) funds or economic resources determined by the Governor to be necessary for official purposes of diplomatic or consular missions or international organisations enjoying immunities in accordance with international law;

(h) payment by a designated person of sums due under a contract entered into prior to the date on which the person or entity was so designated, provided that—

(i) the contract is not related to restricted goods or to assistance related to restricted goods, other than restricted goods or related assistance which are or is the subject of a licence granted by the Governor under this Order, and

(ii) the payment is not directly or indirectly received by a designated person; or

(i) the making available of funds or economic resources held by the Central Bank of Iran, or the making available of funds or economic resources to the Central Bank of Iran, determined by the Governor to be necessary for or in connection with—

(i) providing credit or financial institutions with liquidity for the financing of trade or the servicing of trade loans, or

(ii) a specific trade contract, the execution of which may involve the Central Bank of Iran, provided that the payment will not contribute to an activity prohibited under this Order.