SCHEDULE 2 Modifications to be made in the extension of the Iran (Sanctions) (Human Rights) (EU Exit) Regulations 2019 to each British overseas territory listed in Schedule 1
19. For regulation 35 (Treasury licences), substitute—

“Financial sanctions licences
35. (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 Governor under this paragraph.
(2) The Governor may issue a financial sanctions licence only with the consent of the Secretary of State.
(3) The Governor may issue a financial sanctions licence which authorises acts by a particular person only where the Governor considers that it is appropriate to issue the licence for a purpose set out in Schedule 4.”