ANTI-TERRORISM (FINANCIAL RESTRICTIONS IRAN) ORDER

BR 5/2010

ANTI-TERRORISM (FINANCIAL AND OTHER MEASURES) ACT

2004 : 31

ANTI-TERRORISM (FINANCIAL RESTRICTIONS IRAN) ORDER

The Minister of Justice, believing that there is activity in Iran that facilitates the development or production of nuclear weapons and that this activity poses a significant risk to the national interests of Bermuda, in exercise of the powers conferred by section 12B (2) of the Anti-Terrorism (Financial and other Measures) Act 2004, makes the following Order:

Short title

1 This Order may be cited as the Anti-Terrorism (Financial Restrictions Iran) Order 2010.

Interpretation

2 In this Order— “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; “designated person” means—

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

ANTI-TERRORISM (FINANCIAL RESTRICTIONS IRAN) ORDER 2010

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

(c) a branch of Bank Mellat or Islamic Republic of Iran Shipping Lines.

Direction to Cease Business

3 No AML/ATF regulated financial institution or insurer shall enter into, or continue to participate in, any transaction or business relationship with a designated person.

Commencement

4 This Order takes effect on 15 January 2010.

Made this 15th day of January, 2010

Attorney-General and Minister of Justice