Community Provisions (Restrictive Measures – Iran) (Jersey) Order 2010

Restrictions on transfer of funds and on financial services in pursuance of Article 21 of Council Regulation (EU) No 961/2010

The States of Jersey havegiven effect to sanctions measures against Iran and all financial institutions and other bodies are required to check their records to ensure they comply.

United Nations Security Council Resolution (UNSCR) 1929 was adopted on 9 June 2010 and imposes additional sanctions against Iran. The EU implemented these measures through a Council Regulation (EU) No 961/2010 which was published on 25th October and came into force on 27th October. Jersey has implemented the provision of these sanctions measures by the Community Provisions (Restrictive Measures – Iran) (Jersey) Order 2010. A copy of the Order is at:

Information on the asset freezes imposed by UNSCR 1929 can be obtained at and a copy of the EU Regulation can be found at

All financial institutions and other bodies and persons in Jersey are required to check whether they maintain any accounts or otherwise hold any funds or economic resources for the entities and individuals named in the Annex to the HMT note referred to above and, if so, they should report to the Chief Minister details of all funds or economic resources that they have frozen in accordance with the Order. They must also provide the Chief Minister with all relevant information necessary for ensuring compliance with the Order.

RESTRICTIONS ON TRANSFERS OF FUNDS TO AND FROM AN IRANIAN PERSON, ENTITY OR BODY

Article 21 of the EU Regulation sets out restrictions on the transfers of funds to and from an Iranian person, entity or body, and how transfers shall be processed.

An ‘Iranian person, entity or body’ means:

(i) the State of Iran or any public authority thereof;

(ii) any natural person in, or resident in, Iran;

(iii) any legal person, entity or body having its registered office in Iran;

(iv) any legal person, entity or body, inside or outside Iran, owned or controlled directly or indirectly by one or more of the above mentioned persons or bodies.

HM Treasury has advised that establishing whether a person is in, or resident in, Iran will depend on the facts of the matter. For example, an Iranian national, or indeed nationals or citizens of other countries that reside in Iran, would fall within the definition; whereas an Iranian nationalliving, for example, in the UK would not.

Prior notification or authorisation from the Chief Minister will be required for the transfer of funds to or from an Iranian person, entity or body, as follows:

Transfer value / Requirements
€10,000 or less / No requirements. These can be made as normal unless there is a series of transactions below €10,000 that appear to be linked. If this is the case, they should be notified to the Chief Minister.
More than €10,000 but less than €40,000 / Must be notified in advance to the Chief Minister, whatever the transaction is for.
€40,000 or above / If they relate to foodstuffs, healthcare, medical equipment or humanitarian purposes, they must be notified in advance to the Chief Minister. They do not require prior authorisation from the Chief Minister.
If they are for any other purpose, they must be submitted to the Chief Minister in advance for authorisation. They cannot be undertaken without prior authorisation.

A definition of ‘transfers of funds’, and definitions of an ‘Iranian person, entity or body’ and further explanation of the measures can be found within the HM Treasury guidance notice available here:

Prior notification or authorisation can be requested bye-mail d submitting therelevant formwith subject line ‘Iran Sanctions’.

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