38.—(1) A person (“P”) commits an offence if P sells or purchases (directly or indirectly) Iranian public or public-guaranteed bonds issued after the date on which this Order comes into force to or from a person, entity or body falling within paragraph (4) if P knows or has reasonable cause to suspect that the sale or purchase is to or from such a person, entity or body.
(2) A person (“P”) commits an offence if P provides brokering services with respect to Iranian public or public-guaranteed bonds issued after the date on which this Order comes into force to a person, entity or body falling within paragraph (4) if P knows or has reasonable cause to suspect that the services are being provided to such a person, entity or body.
(3) A person (“P”) commits an offence if P assists a person, entity or body falling within paragraph (4) to issue Iranian public or public-guaranteed bonds, by providing—
(a)brokering services,
(b)advertising, or
(c)any other service with respect to such bonds,
if P knows or has reasonable cause to suspect that P is assisting such a person, entity or body.
(4) The following persons, entities and bodies fall within this paragraph—
(a)the State of Iran or its Government,
(b)public bodies, corporations and agencies of the Government of Iran,
(c)any bureaux de change, credit or financial institution domiciled in Iran,
(d)any branch or subsidiary, wherever located, of a bureaux de change, credit or financial institution domiciled in Iran,
(e)any bureaux de change, credit or financial institution that is not domiciled in Iran, but is controlled by a person or entity domiciled in Iran,
(f)a person, entity or body acting on behalf of or at the direction of a legal person, entity or body falling within sub-paragraph (a), (b), (c), (d) or (e),
(g)a legal person, entity or body owned or controlled by a person, entity or body falling within sub-paragraph (a), (b), (c), (d), (e) or (f).