PART 5Trade
CHAPTER 1Exports to Iran and related activities
Financial services and funds relating to restricted goods and restricted technologyI1I226
1
A person must not directly or indirectly provide, to a person connected with Iran, financial services in pursuance of or in connection with an arrangement whose object or effect is—
a
the export of restricted goods,
b
the direct or indirect supply or delivery of restricted goods,
c
directly or indirectly making restricted goods or restricted technology available to a person,
d
the transfer of restricted technology, or
e
the direct or indirect provision of technical assistance relating to restricted goods or restricted technology.
2
A person must not directly or indirectly make funds available to a person connected with Iran in pursuance of or in connection with an arrangement mentioned in paragraph (1).
3
A person must not directly or indirectly provide financial services or funds in pursuance of or in connection with an arrangement whose object or effect is—
a
the export of restricted goods to, or for use in, Iran,
b
the direct or indirect supply or delivery of restricted goods to a place in Iran,
c
directly or indirectly making restricted goods or restricted technology available—
i
to a person connected with Iran, or
ii
for use in Iran,
d
the transfer of restricted technology—
i
to a person connected with Iran, or
ii
for use in Iran,
e
the direct or indirect provision of technical assistance relating to restricted goods—
i
to a person connected with Iran, or
ii
for use in Iran.
4
Paragraphs (1) to (3) are subject to Part 6 (Exceptions and licences).
5
A person who contravenes a prohibition in any of paragraphs (1) to (3) commits an offence, but—
a
it is a defence for a person charged with an offence of contravening paragraph (1) or (2) (“P”) to show that P did not know and had no reasonable cause to suspect that the person was connected with Iran;
b
it is a defence for a person charged with an offence of contravening a prohibition in paragraph (3) to show that the person did not know and had no reasonable cause to suspect that the financial services or funds (as the case may be) were provided in pursuance of or in connection with an arrangement mentioned in that paragraph.