Treasury licencesU.K.
21.—(1) The prohibitions in regulations 11 to 15 (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 by a particular 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 the Treasury consider appropriate to publicise the issue, variation, revocation or suspension of the licence.
Commencement Information
I1Reg. 21 not in force at made date, see reg. 1(2)
I2Reg. 21 in force at 31.12.2020 by S.I. 2020/1514, reg. 24(2)