# The Iran (Sanctions) (Nuclear) (Overseas Territories) Order 2020, Paragraph 23

Extent: E+W+S+N.I.

For regulation 40 (Treasury licences), substitute—
“Financial sanctions licences
40. (1) The prohibitions in regulations 12 to 17 (asset-freeze etc.) do not apply to anything done under the authority of a licence issued by the Governor under this paragraph.
(2) The Governor may issue a financial sanctions licence only with the consent of the Secretary of State.
(3) The Governor may issue a financial sanctions licence which authorises acts by a particular person in relation to a non-UN designated person only where the Governor considers that it is appropriate to issue the licence for a purpose set out in Schedule 1.
(4) The Governor may issue a financial sanctions licence which authorises acts in relation to a UN designated person only where the Governor considers that it is appropriate to issue the licence for a purpose set out in Part 2 of Schedule 2.
(5) In this regulation “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).”

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Source: https://www.legislation.gov.uk/uksi/2020/1563/schedule/2/paragraph/23 (the official version)
Page: https://openlegislation.uk/iran-sanctions-nuclear-overseas-territories-order-2020/schedule-2/paragraph-23
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.