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 working 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 a project or activity referred to in paragraph (1)(b) or (c), the Minister must advise the Security Council of the intention to issue a certificate and, if the Security Council approves the project or activity, the Minister must issue the certificate.