# The Iraq and Kuwait (United Nations Sanctions)(Bermuda) Order 1990, Article 3: Control of Gold, Securities, Payments and Credits


(1) Except with permission granted by or on behalf of the Governor, no direction given, on or after 6th August 1990, by or on behalf of the Government of Kuwait or the Government of the Republic of Iraq or by or on behalf of any person resident in Kuwait or the Republic of Iraq, shall be carried out insofar as the direction—
(i) requires the person to whom the direction is given to make any payment or to part with any gold or securities; or
(ii) requires any change to be made in the persons to whose credit any sum is to stand or to whose order any gold or security is to be held.
(2) In this article:
“gold” means gold coin or gold bullion;
“security” includes—
(a) Shares, stocks, bonds, notes, debentures, and debenture stock;
(b) a deposit receipt in respect of the deposit of securities;
(c) a negotiable receipt or other negotiable certificate or document evidencing the deposit of a sum of money;
(d) a promissory note;
(e) a unit or a sub-unit of a unit trust;
(f) an annuity or a life insurance policy or other contract entered into with an assurance company for securing a payment in the future of any capital sums or of an annuity;
(g) a warrant conferring an option to acquire a security;
(h) a share in an oil royalty.
(3) Any consent or permission granted by or on behalf of the Governor under this section may be granted either absolutely or subject to conditions.

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Source: https://www.legislation.gov.uk/uksi/1990/1769/article/3 (the official version)
Page: https://openlegislation.uk/iraq-and-kuwait-united-nations-sanctionsbermuda-order-1990/article-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.