# The Financial Restrictions (Iran) Order 2011, Article 3: Designated persons


(1) The direction in article 4 is given in relation to transactions or business relationships with the following persons (referred to in that article as “designated persons”)—
(a) a credit institution incorporated in Iran;
(b) the Central Bank of Iran, also known as Bank Markazi Jomhouri Islami Iran;
(c) a branch, wherever located, of a person falling within sub-paragraph (a);
(d) a subsidiary, wherever located, of a person falling within sub-paragraph (a).
(2) In paragraph (1), “branch” means a place of business of a person, other than its head office, which has no legal personality separate from that person, and which carries out directly all or some of the transactions inherent in that person’s business.

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Source: https://www.legislation.gov.uk/uksi/2011/2775/article/3 (the official version)
Page: https://openlegislation.uk/financial-restrictions-iran-order-2011/article-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.