Statutory Instruments

2009 No. 2725

Prevention Of Nuclear Proliferation

Terrorist Financing And Money Laundering

The Financial Restrictions (Iran) Order 2009

Approved by both Houses of Parliament

Made

9th October 2009

Laid before Parliament

at 10.00 a.m. on 12th October 2009

Coming into force

at10.30 a.m. on 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 2008( 1 ).

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 sector( 2 ) (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) Bank Mellat, whose head office is located at No. 327 Taleghani Avenue, Tehran 15817 Iran;

(b) Islamic Republic of Iran Shipping Lines (“IRISL”), whose address is No.37, Aseman Tower, Sayyade Shirazee Square, Pasdaran Avenue, Tehran, Iran;

(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

( 1 )

2008 c.28 .

( 2 )

“Person operating in the financial sector” is defined in paragraphs 4 and 6 of Schedule 7 to the Counter-Terrorism Act 2008.

in force	Provision is in force
in force*	In force only for specified purposes (see footnote)
not in force	Not in force in England (may be in force in other geographies, see footnotes)
defined term	Defined term
_dfn	Defined term (alternative style)

footnote	commentary	transitional and savings	in force status	related provisions	geo extent	insert/omit	source count	in force adj

Defined Term	Section/Article	ID
branch	art. 3.	def_86cd023db1
designated persons	art. 3.	def_47bcf871b9
IRISL	art. 3.	def_82054ff8e7
relevant persons	art. 2.	def_d2afdf5277