LicensingI16
1
The Treasury may, by licence, authorise frozen funds to be made available.
2
A licence may authorise a person to deal with frozen funds.
3
The prohibitions in article 4 do not apply in respect of frozen funds made available or dealt with in accordance with a licence granted under this article.
4
A licence may be—
a
of indefinite duration or subject to an expiry date;
b
subject to conditions;
c
granted generally or to a person or persons named or described in the licence;
d
granted in relation to frozen funds generally or to funds of a description specified in the licence.
5
A licence may authorise funds to be made available—
a
generally or for purposes specified in the licence;
b
to or for the benefit of persons generally or a person or persons named or described in the licence.
6
The Treasury may vary or revoke a licence at any time.
7
The Treasury, where they grant, vary or revoke a licence, must—
a
in the case of a licence granted to a particular person, give written notice of the licence, variation or revocation to that person, and
b
in the case of a general licence or a licence granted to a category of persons, take such steps as the Treasury consider appropriate to publicise the licence, variation or revocation.