{
  "url": "https://openlegislation.uk/iran-european-community-financial-sanctions-regulations-2007/schedule/paragraph-2",
  "json_url": "https://openlegislation.uk/iran-european-community-financial-sanctions-regulations-2007/schedule/paragraph-2.json",
  "legislation": "uksi/2007/1374",
  "legislation_title": "The Iran (European Community Financial Sanctions) Regulations 2007",
  "legislation_url": "https://openlegislation.uk/iran-european-community-financial-sanctions-regulations-2007",
  "path": "schedule/paragraph/2",
  "kind": "paragraph",
  "number": "2",
  "heading": null,
  "text": "(1) A relevant institution must as soon as practicable inform the Treasury if it knows or suspects that a relevant person—\n(a) is a designated person;\n(b) is acting on behalf or at the direction of a designated person;\n(c) is owned or controlled by a designated person; or\n(d) has committed an offence under regulation 6, 7, 9 or 10.\n(2) A relevant institution, where it informs the Treasury under sub-paragraph (1), must state—\n(a) the information or other matter on which the knowledge or suspicion is based;\n(b) any information it holds about the relevant person by which the person can be identified; and\n(c) the nature and amount or quantity of any funds or economic resources held by the relevant institution for the relevant person since these Regulations came into force.\n(3) A relevant institution must inform the Treasury without delay if it credits a frozen account in accordance with regulation 8(2).\n(4) A relevant institution which fails to comply with a requirement in sub-paragraph (1), (2) or (3) is guilty of an offence.\n(5) In this paragraph, “relevant person” means—\n(a) a customer of the institution;\n(b) a person who has been a customer of the institution at any time on or after 20th April 2007 ; or\n(c) a person with whom the institution has had dealings in the course of its business since that date.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. para. 2 in force at 3.5.2007, see reg. 1(1)"
    },
    {
      "type": "footnote",
      "label": "f1",
      "text": "This is the date on which the EC Regulation came into force."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2007/1374/schedule/paragraph/2",
    "retrieved_at": "2026-10-29T03:53:17.714124+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}