{
  "url": "https://openlegislation.uk/iran-sanctions-nuclear-eu-exit-regulations-2019/regulation-40",
  "json_url": "https://openlegislation.uk/iran-sanctions-nuclear-eu-exit-regulations-2019/regulation-40.json",
  "legislation": "uksi/2019/461",
  "legislation_title": "The Iran (Sanctions) (Nuclear) (EU Exit) Regulations 2019",
  "legislation_url": "https://openlegislation.uk/iran-sanctions-nuclear-eu-exit-regulations-2019",
  "path": "regulation/40",
  "kind": "regulation",
  "number": "40",
  "heading": "Treasury licences",
  "text": "(1) The prohibitions in regulations 12 to 17 (asset-freeze etc) and regulations 17A to 17D (investments, accounts and corresponding banking relationships, insurance and reinsurance and sale or purchase of bonds) do not apply to anything done under the authority of a licence issued by the Treasury under this paragraph.\n(2) The Treasury may issue a licence which authorises acts by a particular person in relation to a non-UN designated person only where the Treasury consider that it is appropriate to issue the licence for a purpose set out in Part 1 or 2 of Schedule 2.\n(3) The Treasury may issue a licence which authorises acts in relation to a UN designated person only where the Treasury consider that it is appropriate to issue the licence for a purpose set out in Part 1 or 1A of Schedule 2.\n(4) In paragraph (3) “UN designated person” means a person who is a designated person for the purposes of regulations 12 to 17 by reason of regulation 10 (designation of persons named by or under UN Security Council Resolutions).\n(5) The reference in paragraph (2) to a non-UN designated person is to be read as including a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the non-UN designated person.\n(6) The reference in paragraph (3) to a UN designated person is to be read as including a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the UN designated person.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in reg. 40(1) inserted (29.9.2026) by The Iran (Sanctions) (Amendment) Regulations 2026 (S.I. 2026/983), regs. 1(2), 9(e)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in reg. 40(2) substituted (5.12.2024) by The Sanctions (EU Exit) (Miscellaneous Amendments) (No. 2) Regulations 2024 (S.I. 2024/1157), regs. 1(2), 6(6)(a)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in reg. 40(3) inserted (5.12.2024) by The Sanctions (EU Exit) (Miscellaneous Amendments) (No. 2) Regulations 2024 (S.I. 2024/1157), regs. 1(2), 6(6)(b)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Reg. 40(5)(6) inserted (5.12.2024) by The Sanctions (EU Exit) (Miscellaneous Amendments) (No. 2) Regulations 2024 (S.I. 2024/1157), regs. 1(2), 6(6)(c)"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 40 not in force at made date, see reg. 1(2)"
    },
    {
      "type": "I",
      "label": "I2",
      "text": "Reg. 40 in force at 31.12.2020 by S.I. 2019/627, reg. 8(2); 2020 c. 1, Sch. 5 para. 1(1)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2019/461/regulation/40",
    "retrieved_at": "2026-10-28T22:45:44.769063+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."
}