PART 10Supplementary and final provision

Transitional Provisions: prior obligationsI1I278

1

Where—

a

a person was named in Annex ⅠX of the EU Iran Regulation immediately before the relevant date, and

b

the person is a designated person immediately before the relevant date,

any reference in a provision mentioned in paragraph (3) to the date on which a person became a designated person is to be read as a reference to the date on which the person was named in that Annex.

2

Where, immediately before the coming into force of regulation 10 (designation of persons named by or under UN Security Council Resolutions), a person was named for the purposes of paragraph 6(c) of Annex B to resolution 2231 by the Security Council or the Committee, any reference in a provision mentioned in paragraph (3) to the date on which a person became a designated person is to be read as a reference to—

a

the date on which the person was named on the list established by the Committee pursuant to resolution 1737, or

b

if the person was not named on that list, the date on which the person was otherwise named for the purposes of paragraph 6(c) of Annex B to resolution 2231.

3

The provisions referred to in paragraphs (1) and (2) are—

a

regulation 37(5) (finance: exceptions from prohibitions), and

b

paragraphs 5(b)(i) and 6(1)(a) of Schedule 2 (Treasury licences: purposes).

4

In paragraph (1), the reference to the date on which a person was named in Annex IX of the EU Iran Regulation—

a

if the person had previously been named in Annex V of the 2007 EU Iran Regulation, is to be read as the date on which the person was named in that Annex;

b

if the person had previously been named in Annex VIII of the 2010 EU Iran Regulation but not in Annex V of the 2007 EU Iran Regulation, is to be read as the date on which the person was named in Annex VIII of the 2010 EU Iran Regulation.

5

In this regulation—

  • “the 2007 EU Iran Regulation” means Council Regulation (EC) No 423/2007 of 19 April 2007 concerning restrictive measures against Iran M1;

  • “the 2010 EU Iran Regulation” means Council Regulation (EU) No 961/2010 of 25 October 2010 on restrictive measures against Iran and repealing Regulation (EC) No 423/2007M2;

  • “designated person” has the same meaning as it has in Part 3 (Finance);

  • “the relevant date” means—

    1. a

      where regulations under section 56 of the Act provide that Part 3 comes into force at a specified time on a day, that time on that day;

    2. b

      otherwise, the date on which Part 3 comes into force.