Article 9 Licences

(1)

The Treasury may grant a licence to exempt acts specified in the licence from the prohibition in article 4(1) or 5(1).

(2)

A licence may relate to—

(a)

basic expenses, including payments for foodstuffs, rent or mortgage, medicines, medical treatment, taxes, insurance premiums and public utility charges;

(b)

payment of reasonable professional fees and expenses associated with the provision of legal services;

(c)

payment of fees or service charges for the routine holding or maintenance of frozen funds or economic resources;

(d)

extraordinary expenses; or

(e)

satisfaction of a judicial, administrative or arbitral lien or judgment relating to frozen funds or economic resources where the lien or judgment was entered or given before 29th March 2005 and is not for the benefit of a designated person.

(3)

A licence may be—

(a)

general or granted to a particular person;

(b)

subject to conditions;

(c)

of indefinite duration or subject to an expiry date.

(4)

The Treasury may vary or revoke a licence at any time.

(5)

The Treasury, where they grant, vary or revoke a licence, must—

(a)

in the case of a licence granted to a particular person, give written notice of the licence, variation or revocation to that person; and

(b)

in the case of a general licence, make information as to the licence, variation or revocation publicly available.

(6)

Any person who, for the purpose of obtaining a licence, knowingly or recklessly makes any statement or furnishes any document or information which is false in a material particular is guilty of an offence.

(7)

Any person who has done any act under the authority of a licence and who fails to comply with any conditions attaching to that licence is guilty of an offence.

(8)

In this article, “frozen funds or economic resources” means any funds or economic resources owned or controlled, directly or indirectly, by a designated person.