Article 3 Making funds available to designated persons

Any person who, except under the authority of a licence granted by the Treasury under this article, makes funds available to or for the benefit of a designated person or any person acting on behalf of a designated person shall be guilty of an offence under this Order.

A licence shall be in writing, may be subject to conditions, and may be limited so as to expire on a specified date unless renewed.

A licence may be varied or revoked at any time by written notice given by the Treasury to each recipient of the licence.

A notice under paragraph (2) may be given by post, and shall be deemed to have been given to a person if it is sent to him at his last known address.