(1) The prohibitions in regulations 8 to 13 (partial asset-freeze and asset-freeze etc.) do not apply to anything done under the authority of a licence issued by the Treasury under this paragraph.

(2) The Treasury may issue a licence which authorises acts in relation to a designated person which would otherwise be prohibited by regulation 8 or 9 (partial asset-freeze and asset-freeze) only where the Treasury considers that it is appropriate to issue the licence for the purpose set out in Part 2 of Schedule 2.

(3) The Treasury may issue a licence which authorises acts in relation to a designated person which would otherwise be prohibited by regulations 10 to 13 (making funds or economic resources available to, or for the benefit of, persons connected with the former Iraqi regime) only where the Treasury considers that it is appropriate to issue the licence for a purpose set out in Part 3 of Schedule 2.

(4) In this regulation, "designated person" has the same meaning as it has in regulation 6(1) or (2).