Regulations Implementing the United Nations Resolutions on Iran

Marginal note:Exemption for property

• 11 (1) A person whose property has been affected by the application of section 3 may apply to the Minister in writing for a certificate to exempt the property from the application of that section if the property

  • (a) is necessary for basic or extraordinary expenses or is subject to a lien, mortgage or security interest, to a hypothec or prior claim, to a charge or to a judicial, administrative or arbitral decision;

  • (b) is necessary for the civil nuclear cooperation projects described in Annex III to the Joint Comprehensive Plan of Action; or

  • (c) is necessary for any activity required for the implementation of the Joint Comprehensive Plan of Action.

• Marginal note:Certificate — paragraph 1(a)

  (2) If it is established in accordance with Security Council Resolution 2231 that the property is necessary for basic or extraordinary expenses or is subject to a lien, mortgage or security interest, to a hypothec or prior claim, to a charge or to a judicial, administrative or arbitral decision, the Minister must issue a certificate within the following timelines:

  • (a) within 15 working days after receiving the application, in the case of property necessary for basic expenses, if the Security Council does not oppose the application;

  • (b) within 30 working days after receiving the application, in the case of property necessary for extraordinary expenses, if the Security Council approves the application; and

  • (c) within 90 days after receiving the application, in the case of property that is subject to a lien, mortgage or security interest, to a hypothec or prior claim, to a charge or to a judicial, administrative or arbitral decision that

    • (i) was created or issued before the coming into force of these Regulations;

    • (ii) is not for the benefit of a designated person; and

    • (iii) has been brought to the attention of the Security Council by the Minister.

• Marginal note:Certificate — paragraphs (1)(b) and (c)

  (3) If it is established that the property is necessary for one of the projects or activities referred to in paragraph 1(b) or (c), the Minister must advise the Security Council of his or her intention to issue a certificate and, if the Security Council approves the project or activity, the Minister may issue the certificate.