The Iran (Sanctions) Regulations 2023

Transitional provision: trade licencesU.K.

99.—(1) Paragraphs (2) to (4) apply to a licence granted by the Secretary of State which—

(a)was issued by the Secretary of State under regulation 36 of the 2019 Regulations,

(b)was in effect immediately before the relevant date, and

(c)authorises an act which would (on and after the relevant date, and in the absence of paragraphs (2) to (4)) be prohibited under Part 6 (Trade),

and such a licence is referred to in this regulation as “an existing trade sanctions licence”.

(2) An existing trade sanctions licence has effect on and after the relevant date as if it were a licence which had been issued by the Secretary of State under regulation 62 (trade licences).

(3) Any reference in an existing trade sanctions licence to the 2019 Regulations is to be treated on and after the relevant date as a reference to these Regulations.

(4) Any reference in an existing trade sanctions licence to a prohibition in the 2019 Regulations is to be treated on and after the relevant date as a reference to the corresponding prohibition in Part 6 (Trade).

(5) Paragraph (6) applies where—

(a)an application for a licence, or for the variation of a licence, under the 2019 Regulations was made before the relevant date,

(b)the application is for the authorisation of conduct which would (on and after the relevant date) be prohibited under Part 6, and

(c)a decision to grant or refuse the application has not been made before that date.

(6) The application is to be treated on and after the relevant date as an application for a licence, or for the variation of a licence (as the case may be), under regulation 62.