The Protection of Trading Interests (Authorisation) (Amendment) Regulations 2022

• Citation: S.I. 2022/545
• Sections: 7

Section 1 Citation

These Regulations may be cited as the Protection of Trading Interests (Authorisation) (Amendment) Regulations 2022.

Section 2 Amendment of the Protection of Trading Interests (Authorisation) Regulations 2021

The Protection of Trading Interests (Authorisation) Regulations 2021 are amended as follows.

Section 3 Substitution of regulation 2 (Interpretation)

For regulation 2 substitute—

Interpretation

(2) In these Regulations—

“ the Helms-Burton Act ” means the Cuban Liberty and Democratic Solidarity (LIBERTAD) Act of 1996 ;

“ the laws relating to Iran ” means the laws of the United States of America specified in the Annex to Council Regulation (EC) No 2271/96 of 22 November 1996 protecting against the effects of the extra-territorial application of legislation adopted by a third country, and actions based thereon or resulting therefrom that relate to Iran as follows—

the Iran Sanctions Act of 1996 ;

the Iran Freedom and Counter-Proliferation Act of 2012 ;

section 1245 of the National Defense Authorization Act for Fiscal Year 2012 ;

section 2 and Titles I to VI of the Iran Threat Reduction and Syria Human Rights Act of 2012 to the extent it relates to Iran ; and

the Iranian Transactions and Sanctions Regulations .

Section 4 Amendment of regulation 3 (Authorisation to comply with Title III of the Helms-Burton Act)

In regulation 3, for “the Schedule” in both places it occurs, substitute “Schedule 1” .

Section 5 Insertion of regulation 4

After regulation 3 (Authorisation to comply with Title III of the Helms-Burton Act), insert—

Authorisation to comply with the laws relating to Iran

(4) The person specified in Part 1 of Schedule 2 is, for the purpose specified in Part 2 of Schedule 2, authorised to comply with any requirement or prohibition based on or resulting from the laws relating to Iran.

Section 6 Amendment of the Schedule (Authorisation to file motion to dismiss)

The existing Schedule becomes Schedule 1 (and, accordingly, for the heading “SCHEDULE” substitute the heading “SCHEDULE 1” ).”

Section 7 Insertion of Schedule 2

After Schedule 1, (Authorisation to file motion to dismiss), as renumbered by these Regulations, insert—

Authorisation to comply with Office of Foreign Assets Control licence

Authorised person

Three Crowns (Services) LLP .

Authorised purpose

Complying with the licence issued by the Office of Foreign Assets Control on 22 March 2021 in which Three Crowns (Services) LLP is named as a licensee (licence number IA-2016-331681-3).