The Iran (Sanctions) (Nuclear) (Overseas Territories) Order 2020

58.  In regulation 75 (transitional provision: Treasury licences)—

(a) in the heading, for “Treasury licences” substitute “financial sanctions licences”;

(b) in paragraph (1)(a), for “, or deemed to be granted, by the Treasury under regulation 9 of the 2016 Regulations” substitute “by the Governor under article 7 of the 2016 Order”;

(c) in paragraph (2), for “Treasury under regulation 40(1) (Treasury licences)” substitute “Governor under regulation 40(1) (financial sanctions licences)”;

(d) in paragraph (3), for “2016 Regulations” substitute “2016 Order”;

(e) in paragraph (4), before sub-paragraph (a), insert—

“(za) the 2016 Order,”;

(f) in paragraph (5)(a), for “2016 Regulations” substitute “2016 Order”;

(g) in paragraph (6), omit “(Treasury licences)”;

(h) in paragraph (7), for “paragraphs (3) and (4)” substitute “paragraph (4)”;

(i) in paragraph (8)—

(i) at the appropriate place, insert—

““the 2016 Order” means the Iran (Sanctions) (Overseas Territories) Order 2016 (1);”;

(ii) for the definition of “the relevant date” substitute—

““the relevant date” means the date on which Part 3 comes into force.”

(1)

S.I. 2016/371, as amended by S.I. 2016/560; S.I. 2016/1120; and S.I. 2018/1076.