The Financial Restrictions (Iran) Order 2009

JurisdictionUK Non-devolved
CitationSI 2009/2725

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.

S-1 Citation and commencement

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.

S-2 Relevant persons

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”).

S-3 Designated 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.

S-4 Direction to cease 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...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT