Notwithstanding Section 27-106-13, an investment may be made in a person engaged in investment activities in Iran, as described in Section 27-106-7, on a case by case basis, if:
The investment activities in Iran were made before July 1, 2015, the investment activities in Iran have not been expanded or renewed after July 1, 2015, and the person has adopted, publicized and is implementing a formal plan to cease the investment activities in Iran and to refrain from engaging in any new investments in Iran; or
The investor makes a determination that the investments are necessary in order to perform its functions.