Treasury licences
16.—(1) The prohibitions in regulations 8 to 12 (asset-freeze etc.) do not apply to anything done under the authority of a licence issued by the Treasury under this paragraph.
(2) The Treasury may issue a licence which authorises acts in relation to a designated person only where the Treasury consider that it is appropriate to issue the licence for a purpose set out in Schedule 2.
(3) A licence under paragraph (1)—
(a)must specify the acts authorised by it;
(b)may be general or may authorise acts by a particular person or persons of a particular description;
(c)may —
(i)contain conditions;
(ii)be of indefinite duration or a defined duration.
(4) Where the Treasury issue a licence under paragraph (1), the Treasury may vary, revoke or suspend it at any time.
(5) Where the Treasury issue, vary, revoke or suspend a licence under paragraph (1) which authorises acts by a particular person, the Treasury must give written notice to that person of the issue, variation, revocation or suspension of the licence.
(6) Where the Treasury issue, vary, revoke or suspend a general licence or a licence which authorises acts by persons of a particular description under paragraph (1), the Treasury must take such steps as are considered appropriate to publicise the issue, variation, revocation or suspension of the licence.