# The Iran (Sanctions) (Nuclear) (EU Exit) Regulations 2019, Regulation 17A: Investments in relation to Iran


(1) A person (“P”) must not directly or indirectly grant a loan or credit to a relevant person (“Q”), where P knows or has reasonable cause to suspect that Q is a relevant person.
(2) A person (“P”) must not directly or indirectly acquire or extend a participation, or acquire any ownership interest, in a relevant person (“Q”) who is not an individual, where P knows or has reasonable cause to suspect that Q is a relevant person.
(3) A person (“P”) must not directly or indirectly create a joint venture with a relevant person (“Q”), where P knows or has reasonable cause to suspect that Q is a relevant person.
(4) Paragraphs (1), (2) and (3) are subject to Part 6 (Exceptions and licences).
(5) A person who contravenes a prohibition in paragraph (1), (2) or (3) commits an offence.
(6) In this regulation, a “relevant person” is any person connected with Iran engaged in—
(a) the manufacture of—
(i) any thing falling within a commodity code mentioned in column 1 of the table in Part 2 of Schedule 4 to the 2023 Regulations, or
(ii) any item specified by description in Part 3 of Schedule 4 to the 2023 Regulations,
(b) the exploration for, or production of, oil or gas,
(c) the refining of fuels or the liquefaction of gas,
(d) the petrochemical industry, or
(e) uranium mining or the enrichment or reprocessing of uranium.
(7) In this regulation—
“the 2023 Regulations” mean the Iran (Sanctions) Regulations 2023;
“exploration”, in relation to oil and gas, includes the exploration for oil and gas reserves, prospecting for and management of oil and gas reserves, as well as the provision of geological services in relation to such reserves;
“petrochemical industry” means production plants for the manufacturing of any of the items listed in Annex V to the EU Iran Regulation;
“production”, in relation to oil and gas, includes bulk gas transmission services for the purpose of transit or delivery to directly interconnected grids;
“refining” means the processing, conditioning or preparation for the final sale of fuels.

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Source: https://www.legislation.gov.uk/uksi/2019/461/regulation/17A (the official version)
Page: https://openlegislation.uk/iran-sanctions-nuclear-eu-exit-regulations-2019/regulation-17A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.