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The Iran (Restrictive Measures) (Overseas Territories) Order 2011

The Iran (Restrictive Measures) (Overseas Territories) Order 2011 reg 6

reg 6 Exceptions

(1) A person (“P”) (including a listed person) is not guilty of an offence under article 4 or 5 if P credits a frozen account with— (a) interest or other earnings due on the account; or (b) payments due under contracts, agreements or obligations that were concluded or arose prior to the date on which the account holder became a listed person. (2) It is not an offence under article 5 for a relevant institution to credit a frozen account where it receives funds transferred by a third party to a frozen account under this Order. (3) Article 4 applies to any funds credited to a frozen account in accordance with this article. (4) In this article “third party” means a person other than the account holder or the person with which the account is maintained.

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