PART 4Exceptions and licences
Treasury licencesI119
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 Treasury under this paragraph.
2
A licence under paragraph (1)—
a
must specify the acts authorised by it;
b
may be general or may authorise acts by a particular person or persons of a particular description;
c
may—
i
contain conditions;
ii
be of indefinite duration or a defined duration.
3
Where the Treasury issue a licence under paragraph (1) the Treasury may vary, revoke or suspend it at any time.
4
Where the Treasury issue, vary, revoke or suspend a licence under paragraph (1) which authorises acts by a particular person the Treasury must give written notice to that person of the issue, variation, revocation or suspension of the licence.
5
Where the Treasury issue, vary, revoke or suspend a general licence or a licence which authorises acts by persons of a particular description under paragraph (1) the Treasury must take such steps as considered appropriate to publicise the issue, variation, revocation or suspension of the licence.