OpenLegislation

Regulation 78 Transitional Provisions: prior obligationsI1I2

United Kingdom

F1(1)

Where immediately before 31 January 2020 at 11.00pm—

(a)

a person was named in Annex IX of the EU Iran Regulation, and

(b)

the person was a designated person,

any reference in a provision mentioned in paragraph (3) to a time when the person was not a designated person is to be read on the basis that the person became a designated person on the date on which the person was named in that Annex.

F2(2)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)

F3The provision referred to in paragraph (1) is—

(a)

regulation 37(5) (finance: exceptions from prohibitions), F4...

F5(ab)

regulation 37ZZB (finance: exceptions relating to payment of Treasury debt), and

F6(b)

paragraphs 7A(b)(i), 7B and 10C of Schedule 2 (Treasury licences: purposes).

(4)

In paragraph (1), the reference to the date on which a person was named in Annex IX of the EU Iran Regulation—

(a)

if the person had previously been named in Annex V of the 2007 EU Iran Regulation, is to be read as the date on which the person was named in that Annex;

(b)

if the person had previously been named in Annex VIII of the 2010 EU Iran Regulation but not in Annex V of the 2007 EU Iran Regulation, is to be read as the date on which the person was named in Annex VIII of the 2010 EU Iran Regulation.

(5)

In this regulation—

  • “the 2007 EU Iran Regulation” means Council Regulation (EC) No 423/2007 of 19 April 2007 concerning restrictive measures against Iran M1;

  • “the 2010 EU Iran Regulation” means Council Regulation (EU) No 961/2010 of 25 October 2010 on restrictive measures against Iran and repealing Regulation (EC) No 423/2007 M2;

  • “designated person” has the same meaning as it has in Part 3 (Finance);

  • F7...

Annotations

Textual amendments

F1

Reg. 78(1) substituted (13.5.2026) by The Sanctions (EU Exit) (Miscellaneous Amendments) Regulations 2026 (S.I. 2026/443), regs. 1(2), 6(7)(a)

F2

Reg. 78(2) omitted (1.10.2025) by virtue of The Iran (Sanctions) (Nuclear) (EU Exit) (Amendment) Regulations 2025 (S.I. 2025/1052), regs. 1(2), 9(a)

F3

Words in reg. 78(3) substituted (1.10.2025) by The Iran (Sanctions) (Nuclear) (EU Exit) (Amendment) Regulations 2025 (S.I. 2025/1052), regs. 1(2), 9(b)(i)

F4

Word in reg. 78(3)(a) omitted (1.10.2025) by virtue of The Iran (Sanctions) (Nuclear) (EU Exit) (Amendment) Regulations 2025 (S.I. 2025/1052), regs. 1(2), 9(b)(ii)

F5

Reg. 78(3)(ab) inserted (1.10.2025) by The Iran (Sanctions) (Nuclear) (EU Exit) (Amendment) Regulations 2025 (S.I. 2025/1052), regs. 1(2), 9(b)(iii)

F6

Reg. 78(3)(b) substituted (13.5.2026) by The Sanctions (EU Exit) (Miscellaneous Amendments) Regulations 2026 (S.I. 2026/443), regs. 1(2), 6(7)(b)

F7

Words in reg. 78(5) omitted (13.5.2026) by virtue of The Sanctions (EU Exit) (Miscellaneous Amendments) Regulations 2026 (S.I. 2026/443), regs. 1(2), 6(7)(c)

Marginal citations

M1

OJ L 103, 20.4.2007, p. 1.

M2

OJ L 281, 27.10.2010, p. 1.

Commencement

I1

Reg. 78 not in force at made date, see reg. 1(2)

I2

Reg. 78 in force at 31.12.2020 by S.I. 2019/627, reg. 8(2); 2020 c. 1, Sch. 5 para. 1(1)