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The Iran (Sanctions) (Nuclear) (EU Exit) Regulations 2019
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Rhagor o Adnoddau
Changes to legislation:
The Iran (Sanctions) (Nuclear) (EU Exit) Regulations 2019, PART 3 is up to date with all changes known to be in force on or before 26 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Changes and effects yet to be applied to Part 3:
- reg. 47(1)(j)-(m) inserted by S.I. 2024/1157 reg. 6(10)(a)
- reg. 47(3D)-(3K) inserted by S.I. 2024/1157 reg. 6(10)(b)
- reg. 47(5)(da) inserted by S.I. 2024/1157 reg. 6(10)(c)
Changes and effects yet to be applied to the whole Instrument associated Parts and Chapters:
Whole provisions yet to be inserted into this Instrument (including any effects on those provisions):
- reg. 47(1)(j)-(m) inserted by S.I. 2024/1157 reg. 6(10)(a)
- reg. 47(3D)-(3K) inserted by S.I. 2024/1157 reg. 6(10)(b)
- reg. 47(5)(da) inserted by S.I. 2024/1157 reg. 6(10)(c)
PART 3U.K.Finance
Meaning of “designated person” in Part 3U.K.
11. In this Part a “designated person” means—
(a)a person who is designated under regulation 5 for the purposes of regulations 12 to 17, or
(b)a person who is a designated person for the purposes of those regulations by reason of regulation 10.
Commencement Information
I1Reg. 11 not in force at made date, see reg. 1(2)
I2Reg. 11 in force at 31.12.2020 by S.I. 2019/627, reg. 8(2); 2020 c. 1, Sch. 5 para. 1(1)
Asset-freeze in relation to designated personsU.K.
12.—(1) A person (“P”) must not deal with funds or economic resources owned, held or controlled by a designated person if P knows, or has reasonable cause to suspect, that P is dealing with such funds or economic resources.
(2) Paragraph (1) is subject to Part 6 (Exceptions and licences).
(3) A person who contravenes the prohibition in paragraph (1) commits an offence.
(4) For the purposes of paragraph (1) a person “deals with” funds if the person—
(a)uses, alters, moves, transfers or allows access to the funds,
(b)deals with the funds in any other way that would result in any change in volume, amount, location, ownership, possession, character or destination, or
(c)makes any other change, including portfolio management, that would enable use of the funds.
(5) For the purposes of paragraph (1) a person “deals with” economic resources if the person—
(a)exchanges the economic resources for funds, goods or services, or
(b)uses the economic resources in exchange for funds, goods or services (whether by pledging them as security or otherwise).
(6) The reference in paragraph (1) to funds or economic resources that are “owned, held or controlled” by a person includes, in particular, a reference to—
(a)funds or economic resources in which the person has any legal or equitable interest, regardless of whether the interest is held jointly with any other person and regardless of whether any other person holds an interest in the funds or economic resources;
(b)any tangible property (other than real property), or bearer security, that is comprised in funds or economic resources and is in the possession of the person.
(7) For the purposes of paragraph (1) funds or economic resources are to be treated as owned, held or controlled by a designated person if they are owned, held or controlled by a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person.
(8) For the avoidance of doubt, the reference in paragraph (1) to a designated person includes P if P is a designated person.
Commencement Information
I3Reg. 12 not in force at made date, see reg. 1(2)
I4Reg. 12 in force at 31.12.2020 by S.I. 2019/627, reg. 8(2); 2020 c. 1, Sch. 5 para. 1(1)
Making funds available to designated personU.K.
13.—(1) A person (“P”) must not make funds available directly or indirectly to a designated person if P knows, or has reasonable cause to suspect, that P is making the funds so available.
(2) Paragraph (1) is subject to Part 6 (Exceptions and licences).
(3) A person who contravenes the prohibition in paragraph (1) commits an offence.
(4) The reference in paragraph (1) to making funds available indirectly to a designated person includes, in particular, a reference to making them available to a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person.
Commencement Information
I5Reg. 13 not in force at made date, see reg. 1(2)
I6Reg. 13 in force at 31.12.2020 by S.I. 2019/627, reg. 8(2); 2020 c. 1, Sch. 5 para. 1(1)
Making funds available for benefit of designated personU.K.
14.—(1) A person (“P”) must not make funds available to any person for the benefit of a designated person if P knows, or has reasonable cause to suspect, that P is making the funds so available.
(2) Paragraph (1) is subject to Part 6 (Exceptions and licences).
(3) A person who contravenes the prohibition in paragraph (1) commits an offence.
[F1(3A) The reference in paragraph (1) to making funds available to any person for the benefit of a designated person includes making funds available for the benefit of a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person (and references to designated person in paragraph (4) are to be read accordingly).]
(4) For the purposes of this regulation—
(a)funds are made available for the benefit of a designated person only if that person thereby obtains, or is able to obtain, a significant financial benefit, and
(b)“financial benefit” includes the discharge (or partial discharge) of a financial obligation for which the designated person is wholly or partly responsible.
Textual Amendments
F1Reg. 14(3A) inserted (5.12.2024) by The Sanctions (EU Exit) (Miscellaneous Amendments) (No. 2) Regulations 2024 (S.I. 2024/1157), regs. 1(2), 6(2)
Commencement Information
I7Reg. 14 not in force at made date, see reg. 1(2)
I8Reg. 14 in force at 31.12.2020 by S.I. 2019/627, reg. 8(2); 2020 c. 1, Sch. 5 para. 1(1)
Making economic resources available to designated personU.K.
15.—(1) A person (“P”) must not make economic resources available directly or indirectly to a designated person if P knows, or has reasonable cause to suspect—
(a)that P is making the economic resources so available, and
(b)that the designated person would be likely to exchange the economic resources for, or use them in exchange for, funds, goods or services.
(2) Paragraph (1) is subject to Part 6 (exceptions and licences).
(3) A person who contravenes the prohibition in paragraph (1) commits an offence.
(4) The reference in paragraph (1) to making economic resources available indirectly to a designated person includes, in particular, a reference to making them available to a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person.
Commencement Information
I9Reg. 15 not in force at made date, see reg. 1(2)
I10Reg. 15 in force at 31.12.2020 by S.I. 2019/627, reg. 8(2); 2020 c. 1, Sch. 5 para. 1(1)
Making economic resources available for benefit of designated personU.K.
16.—(1) A person (“P”) must not make economic resources available to any person for the benefit of a designated person if P knows, or has reasonable cause to suspect, that P is making the economic resources so available.
(2) Paragraph (1) is subject to Part 6 (Exceptions and licences).
(3) A person who contravenes the prohibition in paragraph (1) commits an offence.
[F2(3A) The reference in paragraph (1) to making economic resources available to any person for the benefit of a designated person includes making economic resources available for the benefit of a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person (and references to designated person in paragraph (4) are to be read accordingly).]
(4) For the purposes of paragraph (1)—
(a)economic resources are made available for the benefit of a designated person only if that person thereby obtains, or is able to obtain, a significant financial benefit, and
(b)“financial benefit” includes the discharge (or partial discharge) of a financial obligation for which the designated person is wholly or partly responsible.
Textual Amendments
F2Reg. 16(3A) inserted (5.12.2024) by The Sanctions (EU Exit) (Miscellaneous Amendments) (No. 2) Regulations 2024 (S.I. 2024/1157), regs. 1(2), 6(3)
Commencement Information
I11Reg. 16 not in force at made date, see reg. 1(2)
I12Reg. 16 in force at 31.12.2020 by S.I. 2019/627, reg. 8(2); 2020 c. 1, Sch. 5 para. 1(1)
Financial messaging servicesU.K.
17.—(1) A person (“P”) must not provide specialised financial messaging services to a designated person if P knows or has reasonable cause to suspect that P is providing such services to a designated person.
(2) Paragraph (1) is subject to Part 6 (Exceptions and licences).
(3) A person who contravenes the prohibition in paragraph (1) commits an offence.
(4) In paragraph (1), “specialised financial messaging services” means specialised services enabling credit or financial institutions to electronically transmit messages effecting financial transactions or containing information about financial transactions.
Commencement Information
I13Reg. 17 not in force at made date, see reg. 1(2)
I14Reg. 17 in force at 31.12.2020 by S.I. 2019/627, reg. 8(2); 2020 c. 1, Sch. 5 para. 1(1)
Circumventing etc prohibitionsU.K.
18.—(1) A person must not intentionally participate in activities knowing that the object or effect of them is, whether directly or indirectly—
(a)to circumvent any of the prohibitions in regulations 12 to 17, or
(b)to enable or facilitate the contravention of any such prohibition.
(2) A person who contravenes the prohibition in paragraph (1) commits an offence.
Commencement Information
I15Reg. 18 not in force at made date, see reg. 1(2)
I16Reg. 18 in force at 31.12.2020 by S.I. 2019/627, reg. 8(2); 2020 c. 1, Sch. 5 para. 1(1)
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