Special Economic Measures (Iran) Regulations

5 It is prohibited for any person in Canada and any Canadian outside Canada to

• (a) provide or acquire financial services or any other services to, from or for the benefit of, or on the direction or order of, any person in Iran for the purpose of

  • (i) establishing an Iranian financial institution in Canada or a Canadian financial institution in Iran,

  • (ii) establishing a branch, subsidiary or representative office of an Iranian financial institution in Canada or of a Canadian financial institution in Iran, or

  • (iii) acquiring a significant interest in an Iranian or Canadian financial institution;

• (b) if they are an entity referred to in paragraphs 9(a), (b), (f) or (g), provide or acquire correspondent banking services to, from or for the benefit of, or on the direction or order of, an Iranian financial institution; or

• (c) purchase any debt obligation issued by the government of Iran.