Council Regulation (EU) No 267/2012Show full title

Article 35

1. It shall be prohibited to provide insurance or re-insurance, or to broker the provision of insurance or reinsurance, to:

(a) Iran or its Government, and its public bodies, corporations and agencies;

(b) an Iranian person, entity or body other than a natural person; or

(c) a natural person or a legal person, entity or body when acting on behalf or at the direction of a legal person, entity or body referred to in (a) or (b).

2. Points (a) and (b) of paragraph 1 shall not apply to the provision or brokering of compulsory or third party liability insurance or reinsuranceto Iranian persons, entities and bodies based in the Union, nor to the provision of insurance for Iranian diplomatic or consular missions in the Union.

3. Point (c) of paragraph 1 shall not apply to the provision of insurance or brokering of insurance, including health and travel insurance or reinsurance, to individuals acting in their private capacity, except for persons listed in Annexes VIII and IX.

Point (c) of paragraph 1 shall not prevent the provision of insurance or re-insurance or brokering of insurance to the owner of a vessel, aircraft or vehicle chartered by a person, entity or body referred to in point (a) or (b) of paragraph 1.

For the purpose of point (c) of paragraph 1, a person, entity or body shall not be considered to act at the direction of a person, entity or body referred to in points (a) and (b) of paragraph 1 where that direction is for the purposes of docking, loading, unloading or safe transit of a vessel or aircraft temporarily in Iranian waters or airspace.

4. This Article prohibits the extension or renewal of insurance and re-insurance agreements concluded before 27 October 2010, but, without prejudice to Article 23(3), it does not prohibit compliance with agreements concluded before that date.