Paragraph 33 I1

For regulation 60 (Treasury Licences), substitute—

“Financial sanctions licences

60.

(1)

The prohibitions in regulations 15 to 19 (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 only where the Governor considers that it is appropriate to issue the licence for a purpose set out in Schedule 5.”