The Financial Restrictions (Iran) Order 2009
| Jurisdiction | UK Non-devolved |
| Citation | SI 2009/2725 |
| Year | 2009 |
2009 No. 2725
Prevention Of Nuclear ProliferationTerrorist Financing And Money Laundering
The Financial Restrictions (Iran) Order 2009
Made 9th October 2009
Laid before Parliament 12th October 2009
Coming into force 12th October 2009
The Treasury make the following Order in exercise of the powers conferred by paragraphs 3, 9, 13 and 14 of Schedule 7 to the Counter-Terrorism Act 20081.
The Treasury believe that activity in Iran that facilitates the development or production of nuclear weapons poses a significant risk to the national interests of the United Kingdom.
Citation and commencement
1. This Order may be cited as the Financial Restrictions (Iran) Order 2009, and comes into force at 10.30 a.m. on 12th October 2009.
Relevant persons
2. The direction in article 4 is given to all persons operating in the financial sector2(referred to in that article as “relevant persons”).
Designated persons
3.—(1) The direction in article 4 is given in relation to transactions or business relationships with the following persons (referred to in that article as “designated persons”)—
(a)
(a) Bank Mellat, whose head office is located at No. 327 Taleghani Avenue, Tehran 15817 Iran;
(b)
(b) Islamic Republic of Iran Shipping Lines (“IRISL”), whose address is No.37, Aseman Tower, Sayyade Shirazee Square, Pasdaran Avenue, Tehran, Iran;
(c)
(c) a branch of Bank Mellat or IRISL.
(2) In paragraph (1), “branch” means a place of business of a person, other than its head office, which has no legal personality separate from that person, and which carries out directly all or some of the transactions inherent in that person’s business.
Direction to cease business
4. The Treasury direct that a relevant person must not—
(a) enter into, or
(b) continue to participate in,
any transaction or business relationship with a designated person.
Dave Watts
Steve McCabe
Two of the Lords Commissioners of
Her Majesty’s Treasury
9th October 2009
EXPLANATORY NOTE
(This note is not part of the Order)
This Order contains a direction given by the Treasury, under Schedule 7 to the Counter-Terrorism Act 2008 (c.28)(“the Act”), in response to the significant risk to the UK’s national interests posed by activity in Iran that facilitates the development or production of nuclear weapons.
The direction is given to all persons operating in the UK financial sector, as...
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