The Iran (Restrictive Measures) (Overseas Territories) Order 2012

Offences related to key equipment or technology listed in Annex VI

12.—(1) A person to whom this Order applies (“P”) commits an offence if P knowingly —

(a) sells, supplies, transfers or exports (directly or indirectly) key equipment or technology listed in Annex VI to the Council Regulation to any Iranian person, entity or body or for use in Iran;

(b) provides (directly or indirectly) technical assistance or brokering services related to the key equipment and technology listed in Annex VI, or related to the provision, manufacture, maintenance and use of goods listed in that Annex, to any Iranian person, entity or body or for use in Iran;

(c) provides (directly or indirectly) financing or financial assistance related to key equipment or technology listed in Annex VI to any Iranian person, entity or body or for use in Iran.

(2) Paragraph (1) does not apply to, and does not prohibit the execution of an obligation arising from—

(a) a transaction required by a trade contract concluded before the date on which this Order comes into force, or an ancillary contract necessary for the execution of such a contract, that concerns key equipment or technology for—

(i) the exploration of crude oil and natural gas,

(ii) the production of crude oil and natural gas, or

(iii) the refining or liquefaction of natural gas; or

(b) a transaction required by a trade contract or agreement concluded before the date on which this Order comes into force and relating to an investment in Iran made before that date,

if the person, entity or body seeking to engage in, or provide assistance to, the transaction, has informed the Governor of the Territory in which it is established at least 20 working days in advance.