Singapore legislation
Regulation 4
of Financial Services and Markets (Sanctions and Freezing of Assets of Persons — Iran) Regulations 2023
Regulation 4
Definitions
Subregulation 1
In these Regulations —
Definition
“designated item” means any item, material, equipment, goods or technology falling within a class or description specified in the Schedule;
Definition
“designated person” means any individual or entity set out in the UN List, subject to paragraph (2);
Definition
“funds” includes cheques, bank deposits and other financial resources;
Definition
“JCPOA” means the Joint Comprehensive Plan of Action set out in Resolution 2231 (2015);
Definition
“Resolution” means a Resolution of the Security Council;
Definition
“Security Council” means the Security Council of the United Nations;
Definition
“specified person” means any of the following:
the government of Iran;
a national of Iran;
an entity incorporated in Iran or subject to its jurisdiction;
an individual or entity acting on behalf of or on the direction of any person falling within paragraph (a), (b) or (c);
an entity owned or controlled, directly or indirectly, by any person falling within paragraph (a), (b) or (c);
Definition
“UN List” means collectively the lists of individuals or entities identified by the Security Council as individuals or entities to whom or which the measures specified in paragraph 6(c) of Annex B to Resolution 2231 (2015) apply, and includes any such list as updated from time to time by the Security Council, and made available on the Internet through the official United Nations website at http://www.un.org/.
Subregulation 2
For the purposes of the definition of “designated person” —
where any individual or entity is added to the UN List on or after 28 April 2023, the individual or entity is taken to be a designated person with effect from the date immediately following the date of addition to the UN List;
where any individual or entity is removed from the UN List, the individual or entity ceases to be a designated person with effect from the date of removal from the UN List; and
where the particulars of any individual or entity in the UN List are modified on or after 28 April 2023, the particulars of the individual or entity are taken to be modified for the purposes of these Regulations with effect from the date immediately following the date of modification of the UN List.