FREEZING FUNDS AND MAKING FUNDS AVAILABLE

Licences14.

(1)

The Governor may grant a licence to exempt dealings or activities specified in the licence from the prohibition in article 9(1) or 10(1).

(2)

A licence may relate to—

(a)

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; or

(d)

payment of necessary extraordinary expenses as determined by the Governor and approved by the Committee established pursuant to paragraph 12 of the Security Council resolution.

(3)

A licence may be—

(a)

general or granted to a category of persons or to a particular person;

(b)

subject to conditions;

(c)

of indefinite duration or subject to an expiry date.

(4)

The Governor may vary or revoke a licence at any time.

(5)

The Governor, where he grants, varies or revokes a licence, must—

(a)

in the case of a licence granted to a particular person, give written notice of the licence, variation or revocation to that person, and

(b)

in the case of a general licence, or of a licence granted to a category of persons, take such steps as the Governor considers appropriate to publicise the licence, variation or revocation.

(6)

Any person who, for the purpose of obtaining a licence, knowingly or recklessly makes any statement or furnishes any document or information which is false in a material particular is guilty of an offence.

(7)

Any person who has done any act under the authority of a licence and who fails to comply with any conditions attaching to that licence is guilty of an offence.