Paragraph 54

In regulation 70 (transitional provision: Treasury licences)—

(a)

in the heading, for “Treasury licences” substitute “financial sanctions licences”;

(b)

in paragraph (1)(a), for “, or deemed to be granted, by the Treasury under regulation 9 of the 2011 Regulations” substitute “by the Governor under article 9 of the 2011 Order”;

(c)

in paragraph (2), for “Treasury under regulation 35(1) (Treasury licences)” substitute “Governor under regulation 35(1) (financial sanctions licences)”;

(d)

in paragraph (3), for “2011 Regulations” substitute “2011 Order”;

(e)

in paragraph (4), before sub-paragraph (a), insert—

“(za)

the 2011 Order,”;

(f)

in paragraph (5)(a), for “2011 Regulations” substitute “2011 Order”;

(g)

in paragraph (6), omit “(Treasury licences)”;

(h)

in paragraph (7)—

(i)

at the appropriate place, insert—

““the 2011 Order” means the Iran (Restrictive Measures) (Overseas Territories) Order 2011^f1;”;

(ii)

for the definition of “the relevant date” substitute—

““the relevant date” means the date on which Part 3 comes into force.”

Annotations

Footnotes

f1: S.I. 2011/2989, as amended by S.I. 2012/1389, S.I. 2013/786.