Guardian Council Annuls Legislation Criminalizing Defaulting Export Firms

The Guardian Council retracted an earlier decision by lawmakers that criminalizes exporters who are unable to repatriate their forex income.
The GC -- a watchdog that ensures laws are in line with the Islamic Republic Constitution and Sharia -- found the rules “in conflict with Articles 36 and 85 of the Constitution”, the Iran Chamber of Commerce, Industries, Mines and Agriculture website reported.  
As per Article 36, “penalties must be enforced by a qualified court and based on law”. Likewise Article 85 bans the Majlis from relegating its authority to legislate to another group. In th exporters’ forex case the Majlis is not allowed to give the Money and Credit Council authorization to decide how to deal with defaulting exporters.