Paragraph 5

in paragraph (1) omit “, regulation 16 (Territory credit or financial institutions: accounts and correspondent banking relationships etc) and regulation 21 (investments in relation to crude oil and electricity production)”;

for paragraph (3) substitute—

“(3)

The Governor may issue a financial sanctions licence which authorises acts by a particular person only where, in relation to acts which would otherwise be prohibited by regulations 11 to 15, the Governor considers that it is appropriate to issue the licence for a purpose set out in Part 2 of Schedule 6.”.