(This note is not part of the Order)
This Order makes provision to give effect to a decision of the Security Council of the United Nations in Resolution 661 of 6th August 1990. It prohibits the making of funds available to the Government of the Republic of Iraq or persons resident in Iraq, and the remission or removal of funds to Iraq from the Isle of Man (article 3) without a licence. Provision is also made for the Isle of Man Treasury to require certain suspected Iraqi funds to be frozen (article 4). Article 6 makes it an offence to facilitate the commission of an offence under article 3 or 4(8).
Provision is made with respect to the granting of licences (articles 5 and 7) and for the obtaining of information for the purposes of enforcement (articles 8 to 10). Article 11 provides for penalties and proceedings for offences under the Order.